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South African investors need to be aware of the difference between risky businesses and risky investments, as often the confusion between these can result in missing out on opportunities within the current market environment.
During the majority of 2013, government spent considerable effort on solidifying its plan for its ambitious retirement reform programme. Particular issues which were focussed on were increased participation, cost containment, flexibility and preservation.
The proposal by the National Treasury to include hedge funds under the existing Collective Investment Schemes Control Act (CISCA) is encouraging and will bring to a close a long period of regulatory uncertainty for hedge funds in South Africa.
The upcoming 2014/15 Budget Day speech - to be presented before Parliament on 26 February 2014 - is essentially about four specific areas for South African investors, namely, how much the government expects in tax revenue, how much it plans to spend, how it will divide its spending between competing priority areas and how much it will need to borrow should there be a deficit.
The strongest deterrent against FSP compliance missteps is or should be: