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New research from PwC projects that traditional assets under management (AuM) in 12 markets across Africa will rise to around $1,098 billion by 2020, from a 2008 total of $293 billion. This represents a compound annual growth rate (CAGR) of nearly 9.6%. Traditional asset management, in particular the mutual fund industry, is expanding aggressively across Africa.
Investing abroad can be complex for South Africans. Though exchange controls were relaxed over the past few years, for the most part investing overseas requires investors to have deep pockets and a crystal ball for making currency calls.
The Ukrainian government has been struggling for several months to strike a deal with private sovereign bond holders to restructure its debt. Negotiations are at a standstill while the economic and financial situation of the country becomes alarming. The Ukrainian economy contracted by 17% (y-o-y) in Q1 2015, after a 6.5% contraction in GDP in 2014.
If you believe some of the commentary on financial markets, the world is not what it used to be. The main source of the interest is two of the world’s oldest civilisations – Greece and China. The Greeks are struggling to pay their debts and have been negotiating with their creditors. The Greek government went back to the people of Greece to ask what they wanted. They resoundingly rejected the proposals made by the country’s creditors. But in spite of this, the Greek government has had to accept terms that many are saying are more severe than those rejected in the referendum. So now Greece’s membership of the European Monetary Union seems secure – but at what price? What will be the consequences of reaching an agreement to bail out the Greek economy?
Do you think short-term insurance broking will survive the AI plus humanoid robotics age?