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The Reserve Bank will most likely hike the repo rate by 25 basis points when the Monetary Policy Committee (MPC) meets next week on November 17. Jean-Pierre du Plessis, Fixed Interest Strategist at Prescient Investment Management, commented that last Friday’s much stronger than expected non-farm payroll number in the US has resulted in a much larger probability that the US will raise rates at its next meeting.
Muslims account for 11% of high net worth individuals in South Africa, and are the fastest growing millionaire group in the country, according to the South Africa 2015 Wealth Report. The report, by market research firm New World Wealth, states that the number of Muslim high net worth individuals – people with net assets of US$1 million or more – grew by 190% over the past eight years.
PPS Investments has launched PPS Balanced Index Tracker Fund, a passive portfolio which aims to track the PPS Balanced Index. Duane Littler, Executive of Business Development at PPS Investments, says that the PPS Balanced Index is a customised multi asset high equity composite index that is diversified across a number of constituent indices.
db X-trackers, the JSE-listed range of five exchange traded funds (ETFs) focused on leading global equity markets, continues to win significant support from South African investors.
The strongest deterrent against FSP compliance missteps is or should be: