The Managing Director of our Employee Benefits Companies, Desmond Roach, has resigned and will leave our employ as at the end of August. We wish him the very best in his new venture.

The Consumer Protection Act ('CPA') became fully effective on 31
March 2011 and is likely to have a major impact on retirement
funds. The CPA affects all transactions between funds, their
members and their service providers

FSB Directives have the same binding effect on funds as legislation (as
opposed to PF Circulars which are issued on a “comply or explain”
basis).The FSB gazetted Directive 5 on 14 February 2011.

Revised Regulation 28 provides a radical mind shift from the previous version
of this Regulation, as it contains general investment principles rather than
mere prudential investment limits. This revised Regulation 28 was drafted in
consultation with affected stakeholders.

South Africa received a major boost from rating agency Moody’s Investors Service yesterday when the agency upgraded our sovereign credit rating from Baa1 to A3.

As we enter the second half of 2009, it is important to reflect on what has happened thus far this year. The first quarter was characterised by economic carnage.The second quarter ushered in a sense of optimism.

A spreadsheet with unit trust performance figures

"This is not a minor difference," said Dr Silvia Priori, a cardiologist at the Scientific Institute in Pavia, Italy. Women need to realise they are losing much more than men when they smoke. The study found that the men on average had their first heart attack at age 72 if they didn't smoke, and at 64 if they did. Women in the study had their first heart attack at age 81 if they didn't smoke, and at age 66 if they did.

Just when you think the rand has given up the fight it finds a second lease on life. That’s what we’ve seen in recent weeks as the local currency struggles back to its best level against the US dollar in some six months.

“Never buy on credit what you can afford to pay for with cash.” Sage advice from previous generations, but unfortunately too often ignored in today’s relentless pursuit of instant gratification.