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SAFSIA Board appointed

01 June 2005 Rianet Whitehead

The South African Financial Services Intermediaries Association (SAFSIA) announces the following board appointments:

Chris Busschau (Standard Bank Financial Consultancy) - Chairman
Duncan Buchanan (Marsh (South Africa) (Pty) Ltd) - Deputy Chairman
Ben Rossouw (Managing Director SAFSIA)
 
Other board members:
George Bishop (Alexander Forbes Group (Pty) Ltd)
Clifford Brooke (Standard Bank Insurance Brokers (Pty) Ltd)
Seamus Casserly (Expanded Risk Consulting)
Andrew Culbert (Nedcor Group Insurance Brokers)
Bob Fussell (Fussell and Associates (Pty) Ltd)
Ron Gordon (Heritage Insurance Brokers (Pty) Ltd)
David Harpur (Glenrand MIB Limited)
Tetiwe Jawuna (Standard Bank Insurance Brokers (Pty) Ltd)
Leon Mostert (ABSA Consultants and Actuaries)
Desiree Partridge (Alexander Forbes Financial Services)
Brian Van Flymen (van Flymen and Assciates (Pty) Ltd)
Keith Young (First Link Insurance Brokers (Pty) Ltd)
Quick Polls

QUESTION

The second draft amendments to Regulation 28 will allow retirement funds to allocate up to 45% of their assets to SA infrastructure, with a further 10% for rest of Africa; but the equity & offshore caps remain unchanged. What are your thoughts on the proposal?

ANSWER

Infrastructure? You mean cash returns with higher risk!?!
Infrastructure cap is way too high
Offshore limit still needs to be raised
Who cares… Reg 28 does not apply to discretionary savings
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