31 Oct 2019 MAARTEN ACKERMAN ON THE MEDIUM TERM BUDGET POLICY STATEMENT
Calling a spade a spade, Finance Minister Tito Mboweni’s Medium Term Budget Policy Statement (MTBPS) was refreshingly honest about the precarious situation the country now finds itself in, and the severe challenges we face. Most notably, he was candid about South Africa’s dire situation: we are effectively facing crocodile jaws that are widening to swallow the South African economy, as tax revenue has continued to fall while government expenditure has continued to rocket.
29 Oct 2019 FINANCIAL INDEPENDENCE REQUIRES A PSYCHOLOGICAL APPROACH
For any individual, the pinnacle of financial success is becoming financially independent. But what is financial independence, and how will you know once you’ve got there? And what are the issues that may be preventing you from achieving your financial goals? Citadel Advisory Partner Jodi Suchard discusses the importance of adopting a psychological approach to financial planning. According to Jodi, people should therefore have a business relationship with their advisor and it should be someone completely independent and not related to them.
18 Oct 2019 HAROLD STRYDOM ON SOUTH AFRICAN EQUITIES
Given South Africa’s abysmal economic performance and years of anaemic market returns, negative sentiment has sent local investors sprinting for the greener pastures of offshore equities. So, while Regulation 28 limits the offshore exposure of retirement funds to a maximum of 30%, Citadel Investment Strategist and Portfolio Manager Harold Strydom answers the question: does South African equity still have any place in discretionary savings portfolios?
01 Oct 2019 FINANCIAL CONSIDERATIONS WHEN EMIGRATING
In our modern, globalised world, many people are moving abroad, whether just temporarily or permanently emigrating, or they have children who have moved abroad. However Citadel Fiduciary Director Theunis Ehlers warns that there are serious financial considerations that must be taken into account when deciding to emigrate, if you are to avoid an extremely nasty surprise at a later stage.
25 Sep 2019 NIC HORN ON ‘DIY-ING’ YOUR INVESTMENTS
The rise of new technologies and fintech has made investing simpler, more transparent and cheaper than ever before. So, in a world where investing is as easy as ordering take-out, what are the dangers of self-managing your investments, and why should you consider seeking professional financial advice? Citadel Director and Durban Regional Head Nic Horn discusses the five key reasons to think carefully before adopting a DIY approach to your investments.
16 Sep 2019 GPI REDUCES ITS SHAREHOLDING IN SPUR
The intention of Grand Parade Investments (GPI) to reduce its shareholding in Spur Corporation gained momentum recently after the two companies entered into an agreement to reduce GPI's shareholding from 17.5 percent. GPI has been gradually reducing its shareholding in Spur, opting to focus on its franchise interest in Burger King. Citadel Trader Jordan Weir said the Burger King business had proved to be a home run for GPI, as it owned the rights to 91.1 percent of the burger chain's South African dealings.
12 Sep 2019 NASPERS NOSEDIVES AFTER PROSUS LISTING
Naspers share price fell by more than 30 percent on the JSE after the South African media giant completed a successful listing of its subsidiary Prosus on the Amsterdam Stock Exchange. The share price declined to R2 390.26 a share on Wednesday morning. Citadel Portfolio Manager Nishlen Govender says the decline was fully expected following the separate listing of Prosus.
10 Sep 2019 PROSUS LISTING EXPECTED TO REDUCE NASPERS WEIGHTING ON JSE
Naspers' listing of its new global consumer internet group, Prosus, on the Euronext stock exchange in Amsterdam tomorrow is expected to reduce its dominance on the JSE. Naspers is expected to drop to about 15 percent of the JSE’s equities benchmark from its current weighting of 21 percent. However Citadel Portfolio Manager Nishlen Govender says fund managers are more concerned with Naspers’s discount to net asset value at the moment.
01 Sep 2019 SECOND QUARTER OFFERS GDP JOY
Economic growth of up to 3% is forecast for the second quarter of this year when official data is reported on Tuesday. Citadel Chief Economist and Advisory Partner Maarten Ackerman says ‘higher frequency data is definitely pointing towards a bit of a rebound’. The latest leading indicator from the Reserve Bank, was not ‘suggesting that the economy I collapsing’.
29 Aug 2019 SHOULD TRUSTS STILL BE USED IN ESTATE PLANNING?
Increasing focus on trusts by revenue authorities, both locally and offshore, has created the perception that trusts are being targeted – especially from a tax perspective – and that they are going to become obsolete. The question now is should trusts still be used in estate planning, or has their star faded? According to Citadel Fiduciary Managing Director Hilary Dudley, trusts still have an important role to play within estate planning if they are formed for the right reasons, offering benefits such as asset protection and continuity.