Citadel Investment Services Proprietary Limited is an authorised financial services provider.

04 Jun 2019 GDP HORROR SHOW +

The latest GDP figures from Statistics South Africa indicate that the economy has shrank by -3.2% quarter-on-quarter (seasonally adjusted and annualised) – the biggest plunge since the 2008 global financial crisis, and the second highest drop seen in over two decades. Citadel Chief Economist and Advisory Partner Maarten Ackerman says ‘This decline was twice the number anticipated by general consensus, and almost immediately saw the rand shed another 20 cents against the dollar, touching R14.60/$, while bond yields rose by nearly 15bps.’

DOWNLOAD PDF

14 May 2019 THREE KEY POST-ELECTION INVESTOR ISSUES THAT RAMAPHOSA NEEDS TO ADDRESS +

With the elections now largely behind us, investors’ focus will shift to President Cyril Ramaphosa’s ability and political will in addressing issues of concern, namely: the composition of cabinet to be announced on the 28th of May, transforming the economy with the promised policy reform and resolving the problem that Eskom poses to South Africa. Citadel Chief Economist and Advisory Partner Maarten Ackerman discusses the three critical post-election investor issues that our president needs to address.

DOWNLOAD PDF

29 Apr 2019 ARE YOU FINANCIALLY READY FOR YOUR NEW ARRIVAL? +

As newly expectant parents, the months preceding the arrival of a child are both incredibly exciting and busy. And between preparing your child’s room and stocking up on toys, clothes and nappies, it can be difficult to turn your mind back to the question of ensuring that you are financially prepared for the new addition to your family. However, Citadel Advisory Partner Anelisa Mti notes that if you want to avoid being caught out by any hidden surprises or expenses down the road, the sooner you adjust your budget and update your financial plan, the better.

DOWNLOAD PDF

17 Apr 2019 TIRED OF ASPEN? WE HAVE A DRUG (COMPANY) FOR THAT +

Citadel Portfolio Manager Nishlen Govender provides a critical analysis and industry challenges faced by global drug company Novo Nordisk, one of the largest insulin providers in the world.

DOWNLOAD PDF

10 Apr 2019 TAKE CARE OF YOUR PASSIVE INCOME +

Many investors see income investing as the key for living a life of leisure while still keeping the money or “passive income” rolling in. But income investing is far from passive, and without the right advice and planning, unsuspecting investors and retirees could soon find themselves depleting their capital base rather than enjoying the fruits of their labour, notes Citadel Advisory Partner Riaan Campbell.

DOWNLOAD PDF

18 Mar 2019 NEW UPDATE TO “EXPAT TAX” IS ULTIMATELY FAIR +

On 1 March 2020 the amended section of the Income Tax Act concerning the foreign employment income exemption comes into effect. This so-called “expat tax” has caused concern among South Africans working abroad who currently pay no tax if they meet certain criteria. But, from next year, only R1 million of this income will be exempt from tax here. Citadel Fiduciary Managing Director Hilary Dudley explains why the proposed change is ultimately fair.

DOWNLOAD PDF

05 Mar 2019 AN ANALYSIS OF THE Q4 2018 GDP RESULTS +

The GDP growth numbers are encouraging given the tough environment that we have just emerged from. Given that we came out of a technical recession in 2018, the turnaround to see positive growth for the full year is heartening. And while it may still not be enough to address many of our structural issues, the positive signs are likely to keep the rating agencies at bay’, says Citadel Chief Economist and Advisory Partner Maarten Ackerman.

DOWNLOAD PDF

28 Feb 2019 THE EVOLUTION OF FINANCIAL ADVICE +

There are essentially three key metrics by which to judge the value exchange between clients and advisors: service, pricing and performance. The mix of the three speaks to the quality of the advisor and investment solution. However, Citadel Chief Executive Officer Andrew Möller cautions that changes in the regulatory environment and in the psyche of investors since the 2008 Global Financial Crisis (GFC) have changed our understanding of these three metrics, and introduced a number of new factors by which to measure advisors’ value propositions.

DOWNLOAD PDF

20 Feb 2019 2019 NATIONAL BUDGET SPEECH COMMENTARY +

This was always going to be one of South Africa’s toughest budgets with enormous pressure on government resources in an extremely difficult economic environment. Under the circumstances, relatively new Finance Minister Tito Mboweni can be praised for his disarming honesty and openness about the vast challenges that Treasury faces. Unfortunately, however, this cannot make up for the constraints currently being confronted.

DOWNLOAD PDF

28 Jan 2019 PRESERVING WEALTH ACROSS GENERATIONS +

Many wealthy families seldom see the transition of their wealth beyond the second and third generations. Citadel Director John Kennedy discusses the most effective ways to preserve assets and have governance structures in place to protect them.

DOWNLOAD PDF