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14 February 2018Jonathan Faurie

The retirement industry is critical in providing savings for millions of South Africans.

The Imbasa Yegolide Awards are awards specifically designed to celebrate these important companies.

Important roles  

Service providers inevitably have an important role to play in helping funds keep their promises to their members. 

Batseta, the Council of Retirement Funds for South Africa, supports and encourages retirement funds and their service providers to find ways in which to excel. One of the best ways to do this is for Batseta to reward providers for service excellence in the South African retirement fund industry.

Top of the pile

The winners of the 2018 Imbasa Yegolide awards were: 

CATEGORYWINNER
Risk Benefit Underwriter of the YearSanlam Employee Benefits Group Risk
Custodian of the YearStandard Bank
Equities Manager of the YearCoronation Fund Managers
Manager of Managers of the Year (Multi-ManagerOld Mutual Multi-Managers
Emerging Asset Manager of the YearLegacy Africa Fund Managers
Alternative Asset Class Manager of the YearFuturegrowth Asset Management
Law Firm of the YearJonathan Mort
Investment / Asset / Solutions Consultant of the YearOld Mutual Corporate Consultants
Training Provider of the YearThe Association of Savings and Investment SA (ASISA)
Overall Investment / Asset Manager of the Year27four Investment Managers
Employee Benefits Administrator of the YearVerso Financial Services
Employee Benefits Consultant of the YearRobson Savage
Transition Manager of the YearRisCura Solutions
Trust and Beneficiary Fund Administrator of the YearAbsa Trust Limited
Actuarial Firm of the YearARGEN Actuarial Solutions
Bond Manager of the YearFuturegrowth Asset Management
Balanced Fund Manager of the YearAllan Gray
Technology Provider of the YearOld Mutual Corporate
Communications and Marketing Provider of the YearEBnet
Responsible Investment Manager of the YearFuturegrowth Asset Management
Responsible Investment Consultant / Service Provider of the YearSukha and Associates

Fund Member Education Challenge Winners
Financial Control - Managing current expenditureMomentum FundsAtWork Umbrella Funds
Financial Planning - Managing future income and expenditurePathCare Retirement Fund
Product Choice - Choosing the right financial productPathCare Retirement Fund
Financial Knowledge and UnderstandingNo award was made in this category. Special Recognition Award handed to
BP SA Provident Fund
Special Recognition AwardSpecial Recognition Award handed to Natal Joint Municipal Pension and Provident Funds (NJMPF)


Financial literacy is key

In a country where the amount of people who are able to retire without any financial worries is relatively low, consumer education has big role to play in the market. 

One of award winners was the Momentum FundsAtWork Umbrella funds which won the award for Financial Control – Managing current expenditure. 

Katherine Barker, Head of Momentum FundsAtWork, said that quality consumer financial education has a big role to play in closing the retirement and insurance gaps. 

“However, many retirement fund members are intimidated and shy away from the technical financial jargon that clutters our complex industry. This is why Momentum developed Motheo Financial Dialogues. Motheo is a Sesotho/Setswana name that means foundation. The programme strives to demystify financial planning and enable members to create a solid foundation for their financial wellness journey,” said Barker. 

Expanding reach

Baker points out that Momentum’s FundsAtWork Umbrella Funds are forging ahead with plans to extend the scope and reach of this programme. 

“The results of the latest Momentum/Unisa’s Consumer Financial Vulnerability Index (CFVI) show consumers’ state of financial vulnerability continues to deteriorate across all income bands. Given that FundsAtWork membership spans a range of income bands, the intention is to extend the Motheo programme to address the needs of earners across different income bands. Extending the reach of the programme can be challenging, particularly when trying to reach diverse employee populations in their workplaces,” said Barker. 

Editor’s Thoughts:
Winning awards not only celebrates hard works, but it also gives clients an indication that the companies that they place their trust in are working to achieve their goals. Please comment below, interact with us on Twitter at @fanews_online or email me your thoughts jonathan@fanews.co.za.

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