23 Jan 2020 GOVERNMENT STRUGGLING TO CONVINCE BANKS TO LOAN SAA BILLIONS
Every year for the past thirteen years the state has provided guarantees for SAA loans. As the cash-strapped airline has not been able to repay some of these loans, Finance Minister Tito Mbownei drew a line in the sand last year, refusing to provide SAA with more guarantees. Basically, banks are now being asked to provide a failing business with financing without guarantees, says Citadel Chief Economist and Advisory Partner Maarten Ackerman.
01 Dec 2019 JSE SHARE PRICE LOOKING GLOOMY FOR 2020
JSE share prices are likely to present another year of ‘abysmal returns’ in 2020 as forecasts of weak global and local economic growth translate into lower earnings growth for locally listed companies, market analysts said on Friday. Citadel Investment portfolio manager Nishlen Govender said South African focused-listed companies were likely to continue to struggle in 2020.
01 Dec 2019 KERRY KING ON EARLY RETIREMENT
The temptation to retire early and adopt a life of leisure can be particularly seductive as you enter your fifties and sixties, especially after many years spent with your nose to the grindstone. However Citadel Advisory Partner Kerry King asks the question ‘can you afford to retire early?’
25 Nov 2019 FIVE WEALTH MANAGEMENT TRENDS FOR 2019
The wealth management industry has seen considerable changes in recent years, and those businesses which adapt to the new environment will be able to thrive while offering clients the best options available. From disruptive technology to aging populations, from a rise in a new wealth to an increasingly turbulent environment, wealth managers are facing an exciting outlook with new opportunities to help clients prepare for, says Citadel CEO Andrew Möller.
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.