How to Trump-proof your portfolio

Money, Markets and Masterminds

#Trading #Business #Citywire #Citywire South Africa

36:16

DANMMMMM…Have I got a show for you! First, a lot of Sister Wives tea - new rumors have surfaced Janelle Brown is leaving the show. Plus, Gabe Brown gives a life update after losing and tragically finding his brother Garrison dead. Sadly, Garrison took his own life in March 2024. Then we head over to discuss the new Welcome To Plathville tea. The first pictures of Micah Plath have surfaced after being beat up by his brother Issac and it doesn’t look good for the future of his modeling career. Lastly, we discuss the latest in the Justin Baldoni v Blake Lively case, Justin is back on social media and it was the perfect social media return. Timestamps: 00:00:00 - Open and new Sister Wives news 00:05:43 - Janelle Brown leaving the show? Sister Wives Closet is officially closed 00:12:45 - A new pic of Micah Plath’s broken nose has surfaced 00:18:18 - Justin Baldoni back on social media and Taylor Swifts team is pissed at Justin Baldoni MY Go Big Podcasting Courses Are Here! Purchase Go Big Podcasting and learn to start, monetize, and grow your own podcast. USE CODE: MOM15 for 15% OFF (code expires May 11th, 2025) **SHOP my Amazon Marketplace - especially if you're looking to get geared-up to start your own Podcast!!!** https://www.amazon.com/shop/thesarahfrasershow Show is sponsored by: Download Cash App & sign up! Use our exclusive referral code TSFS in your profile, send $5 to a friend within 14 days, and you’ll get $10 dropped right into your account. Terms apply Horizonfibroids.com get rid of those nasty fibroids Gopurebeauty.com science backed skincare from head to toe, use code TSFS at checkout for 25% OFF your order Nutrafol.com use code TSFS for FREE shipping and $10 off your subscription Rula.com/tsfs to get started today. That’s R-U-L-A dot com slash tsfs for convenient therapy that’s covered by insurance. SkylightCal.com/tsfs for $30 OFF your 15 inch calendar Quince.com/tsfs for FREE shipping on your order and 365 day returns Warbyparker.com/tsfs make an appointment at one of their 270 store locations and head to the website to try on endless pairs of glasses virtually and buy your perfect pair Follow me on Instagram/Tiktok: @thesarahfrasershow ***Visit our Sub-Reddit: reddit.com/r/thesarahfrasershow for ALL things The Sarah Fraser Show!!!*** Advertise on The Sarah Fraser Show: thesarahfrasershow@gmail.com Got a juicy gossip TIP from your favorite TLC or Bravo show? Email: thesarahfrasershow@gmail.com Learn more about your ad choices. Visit megaphone.fm/adchoices…

about a year ago 18:35

M4A•Episode home

In this episode of Money, Markets, and Masterminds, Citywire South Africa sits down with Chantelle Baptiste, portfolio manager and head of equity research at Fairtree, to discuss the biggest financial trends shaping 2025.
With market swings following every Trump statement, growing policy uncertainty, and South Africa’s own economic challenges, how can investors stay ahead? Baptiste shares insights on inflation risks, gold as a safe haven asset, China’s changing role, and practical strategies to protect and grow portfolios in turbulent times.
Join us for a deep dive into market resilience, investment opportunities, and the power of staying nimble.

49 episodes

Money, Markets and Masterminds

How to Trump-proof your portfolio

Money, Markets and Masterminds

published about a year ago

M4A•Episode home

49 episodes

#Trading #Business #Citywire #Citywire South Africa

Усі епізоди

Money, Markets and Masterminds

1
Podcast: Designing fund of funds that work with advisers — not instead of them 14:49

5 days ago14:49

14:49

In this episode of Money, Markets, and Masterminds, recorded in situ at the Independent Wealth Retreat at Fancourt, Citywire South Africa sits down with Stuart Green, portfolio manager at Platinum Portfolios. With a career spanning the UK’s Treasury, institutional multi-management, and private wealth, Green shares how his team builds a fund of funds that advisers can actually use — without crossing into discretionary fund manager (DFM) territory. We also talk about investment positioning, offshore exposure, adviser partnerships, and where Platinum Portfolios sees global opportunity today. Tune in below for more.…

Money, Markets and Masterminds

1
Trump’s 100 days - tariffs, turmoil and tactical moves 22:46

11 days ago22:46

22:46

Markets are jittery. US tariffs are biting. AI is going global. In this episode of Money, Markets and Masterminds, Morningstar SA’s head of investments, Sean Neethling, returns to the Citywire South Africa studio to unpack the biggest themes from Trump’s first 100 days from US tech’s fall from grace to a surging gold price. What does it all mean for investors? How should South Africans think about local bonds, global rotation, and fair value for the rand? Tune in for timely insights—and a sharp take on what comes next.…

Money, Markets and Masterminds

1
The Long Game: The new trade order is forcing investors to rethink everything 15:57

17 days ago15:57

15:57

In the latest episode of Money, Markets and Masterminds, academic and investment specialist Adrian Saville returns to the Citywire South Africa studio for a wide-ranging conversation on what he calls a ‘Through the Looking Glass’ moment in global economics. Drawing parallels with Lewis Carroll’s surreal classic, Saville argues that the rules of the economic game are being rewritten in real time – and warns investors against clinging to outdated playbooks. As Donald Trump’s sweeping tariffs rock markets, Saville unpacks why the recent drop in the S&P 500 – erasing trillions of dollars in market value – is more than a cyclical correction, it is structural. Instead, he outlines a disciplined strategy anchored in diversification, decorrelation and defensiveness. From shifting allocations away from overvalued US tech stocks to tapping opportunities in China, Japan and defensive sectors, Saville illustrates how his team has stayed ahead of the MSCI All Country World index this year by adapting early. Listen to the discussion for more expert insight.…

Money, Markets and Masterminds

1
Betting on Beijing – Why China may be the smartest risk SA investors can take 29:16

4 weeks ago29:16

29:16

Is it time for South African pension funds and private investors to reassess their bias toward developed markets – especially the US – and look to the East? In this double interview, Citywire South Africa speaks with RisCura founder and director Jarred Glansbeek and Altvest chief investment officer Akshay Karan about China’s economic choreography, valuation mismatches, and why early-stage Chinese tech could be a worthwhile high-conviction bet. Listen to the recording for an analysis of China’s investment influence.…

Money, Markets and Masterminds

1
Best practice leads to better advice 12:57

5 weeks ago12:57

12:57

Behind every piece of great advice is a solid foundation. In this episode of Money, Markets, and Masterminds, Citywire South Africa sits down with Rita Cool, the head of individual consulting strategy and part of the Best Practice division at Alexforbes, to discuss what best practice really means for financial advisers and in the South African context. From standardising client experiences and preparing for intergenerational wealth transfer to adapting advice for local realities like black tax and traditional marriages, this conversation is a must for advisers aiming to future-proof and standardise their practice.…

Money, Markets and Masterminds

1
Is it time-out for Trump’s tantrum? 16:56

6 weeks ago16:56

16:56

In this episode of Money, Markets & Masterminds, Citywire South Africa is joined by Morningstar SA’s head of investment Sean Neethling to unpack the so-called Trump tariff tantrum. With sweeping US tariffs hitting markets globally – and South Africa not spared – we explore what this geopolitical jolt means for investors, asset prices, inflation, and interest rates. Neethling offers a level-headed analysis of the risks and opportunities emerging from this protectionist pivot, including which sectors and countries are most exposed, why US small caps might still offer value, and how local bonds are holding up under pressure. Whether you’re feeling fearful or greedy, this episode is your anchor in uncertain waters – full of insights to help you ask the right questions and position portfolios for whatever is next. Tune in to find out more.…

Money, Markets and Masterminds

1
How to Trump-proof your portfolio 18:35

10 weeks ago18:35

18:35

In this episode of Money, Markets, and Masterminds, Citywire South Africa sits down with Chantelle Baptiste, portfolio manager and head of equity research at Fairtree, to discuss the biggest financial trends shaping 2025. With market swings following every Trump statement, growing policy uncertainty, and South Africa’s own economic challenges, how can investors stay ahead? Baptiste shares insights on inflation risks, gold as a safe haven asset, China’s changing role, and practical strategies to protect and grow portfolios in turbulent times. Join us for a deep dive into market resilience, investment opportunities, and the power of staying nimble.…

Money, Markets and Masterminds

1
How taxes are killing South Africa’s economy 23:53

10 weeks ago23:53

23:53

With value-added tax (VAT) hikes, rising income tax burdens, and thousands of non-compliant taxpayers, has South Africa’s economy reached its tax tipping point? In this episode of Money, Markets, and Masterminds, Citywire South Africa and Keith Engel, CEO of the South African Institute of Taxation, break down the true impact of government tax policies. We explore whether the country is pushing past the top of the Laffer Curve, how tax complexity is strangling businesses, and the economy, and why endless hikes might do more harm than good. Is the government collecting enough—or just wasting more? Engel exposes tax loopholes, compliance failures, and the risks of squeezing businesses too hard. With practical solutions and bold insights, this episode uncovers what needs to change in South Africa’s tax system before it’s too late.…

Money, Markets and Masterminds

1
Podcast: How Trump fails economics 101 20:25

10 weeks ago20:25

20:25

In this episode of Money, Markets and Masterminds, Citywire South Africa is joined by economist Professor Adrian Saville for the second instalment of the bi-monthly chapter of ‘The Long Game’. We break down economic principles, challenge political rhetoric and assess US President Donald Trump’s economic policies against real-world data. From tariffs and trade wars to the strength of the US dollar and global growth trends, this discussion offers sharp, data-driven insights for fund selectors, financial advisers, and institutional investors. Tune in below for expert analysis on how Trump’s tariff policies distort trade, why a weak dollar may hurt rather than help US competitiveness, what market signals like the S&P 500 and policy uncertainty index reveal about his presidency, and where investors can find real growth opportunities in global markets.…

Money, Markets and Masterminds

1
The Deep Seek effect - a game-changer for global markets? 21:17

11 weeks ago21:17

21:17

In this episode of Money, Markets and Masterminds, we dive into the ‘Deep Seek effect’ and how this Chinese AI start-up is shaking up investor sentiment and challenging long-held market narratives. With geopolitical uncertainty, shifting global equity trends and the dominance of US tech under scrutiny, Sean Neethling, head of investments at Morningstar South Africa, joins us to unpack what this means for investors. Is it time to look beyond the US for opportunities? Will AI disrupt market leadership sooner than expected? And how should investors navigate the growing volatility in global markets? Tune in below for expert insights to these questions, actionable takeaways and a fresh perspective on the evolving investment landscape…

Money, Markets and Masterminds

1
Are US equities in bubble territory? 20:32

13 weeks ago20:32

20:32

The US equity market has been a dominant force in global investing for decades, but is it now too concentrated – and too expensive? In the latest episode of Money, Markets and Masterminds, Citywire South Africa sits down with Anton Eser (pictured below), CIO at 10X Investments, to discuss the state of the US market, the risks of a potential bubble, and what it all means for South African investors. With nearly 30% of local retirement funds now allocated to US equities, the implications of a market correction could be significant. Eser unpacks the dangers of over-reliance on the Magnificent Seven tech giants, shares historical parallels to past market bubbles, and explains why fund selectors should be looking beyond the US for value. He also explores the growing appeal of dividend stocks, the role of defensive strategies in an uncertain geopolitical landscape, and why, for the first time in two decades, global fixed income assets might offer a compelling alternative. Tune in below to hear why the biggest opportunities may lie outside of the world’s most dominant stock market.…

Money, Markets and Masterminds

1
The FPI’s 2024 Planner of the Year tells his story 20:27

14 weeks ago20:27

20:27

In this episode we sit down with Rudolph Geldenhuys, the 2024 Financial Planning Institute (FPI) Planner of the Year, to discuss his experience competing for the FPI award. Geldenhuys, who is a senior financial planner at WealthUp, explained the rigorous three-round evaluation process, which tested his financial planning expertise, business acumen and leadership potential. While technical skills were crucial, he highlighted that strong relationships and mentorship played a key role in his success. The conversation then shifted to the evolving role of technology in financial planning and we looked to the future, identifying key opportunities for financial planners in South Africa. Tune in below for a lively discussion on what it takes to stand out in the financial planning industry.…

Money, Markets and Masterminds

1
The impact of Asisa’s new equity fund classifications on DFMs and asset managers 12:26

16 weeks ago12:26

12:26

In this episode of Money, Markets & Masterminds, we continue our Mind Over Markets series in partnership with Morningstar South Africa. I sat down with Michael Dodd, senior fund analyst at Morningstar, to discuss a major shift in South Africa’s equity fund landscape - the reclassification of unit trust categories. The Association for Savings and Investment South Africa (Asisa) has introduced a classification change, separating SA-only equity funds from general equity funds that include offshore allocations. This development is set to enhance transparency, improve fund comparability, and influence how discretionary fund managers (DFMs) and asset managers structure their portfolios. Dodd explained why Asisa introduced these category changes and what they mean for fund selection and how increased offshore limits (up to 45%) have influenced fund performance. Listen to our conversation on how fund managers, DFMs, and retail investors should navigate these changes and what trends will shape SA equity funds going forward.…

Money, Markets and Masterminds

1
Lessons from the frontlines with Trevor Garvin - Two decades of money management 32:06

16 weeks ago32:06

32:06

In this episode of Money, Markets, and Masterminds, Citywire South Africa sits down with Trevor Garvin, head of multi-management at Nedgroup Investments, to discuss two decades of insights from managing fund of funds unit trusts. From strategic asset allocation and the rise of passive investing to the impact of liquidity crises and cost-conscious portfolio construction, Garvin has seen it all. Listen to our conversation where he shares hard-earned lessons on navigating the evolving investment landscape.…

Money, Markets and Masterminds

1
Market Outlook 2025 – The Perils of Prediction and the Principles of Investing 27:39

17 weeks ago27:39

27:39

This week, we explore the challenges of market prediction and investment strategies in its latest episode of the new underlying series called the Long Game with Adrian Saville – economist, investor, and academic. The discussion highlights why financial markets resist simple forecasts due to their dynamic and interconnected nature. In this instance, two works are considered by Saville. The first piece of work comes from Bloomberg’s John Authers. At the end of each year, he writes an article for his imagined investment firm, Hindsight Capital, which makes fantastically astute decisions because they know – with the benefit of hindsight – what to buy and what to avoid. The fantasy shows just how hard it is to imagine what each year delivers. The second piece of work comes from Cliff Asness, co-founder of AQR Capital Management, who, in a recent article leaps forward a decade, imagining the errors that will become evident in hindsight by 2035. Drawing on these two works, the episode tackles the futility of prediction and the importance of building resilient investment portfolios from the get-go. The conversation also delves into current market trends, including risks in the US equity rally, debt challenges with US Treasuries, and China’s economic slowdown and potential parallels with Japan.. Emphasising discipline and preparation, the podcast offers actionable insights to help investors align portfolios with their long-term goals.…

Money, Markets and Masterminds

1
SA's battle against financial crime – legislative strength vs implementation weakness 19:31

44 weeks ago19:31

19:31

In this compelling episode of ‘Money Markets and Masterminds’, we delve into the complexities of white-collar crime in South Africa: its profound economic impacts, the ongoing struggle to restore investor confidence and the urgent need for a multifaceted approach to address these crimes.Our expert guest Cameron Dunstan-Smith breaks down the crucial legislation aimed at combating corruption, including, but not limited to, the Prevention and Combating of Corrupt Activities Act and the Criminal Procedure Act.Despite robust legal frameworks, he said the challenge remains around effective implementation. Dunstan-Smith is a partner at Herbert Smith Freehills, a global law practice and he heads the Corporate Crime and Investigations unit at its Johannesburg office.He has specialised in investigations and compliance for the past 17 years and his experience includes investigating corruption, fraud, bribery and anti-money laundering matters. He has also worked in multiple African and other international jurisdictions and provided advice to regulators in South Africa, the US and the UK. Tune in to our latest episode below for insights into the intricacies of South Africa’s legal battles and what it means for business and the economy at large. Also learn how financial crimes have evolved in the digital age and how following or even finding the money is going to become even more complicated than before.…

Money, Markets and Masterminds

1
As trustees can be held personally liable, comprehensive risk cover is key 17:34

45 weeks ago17:34

17:34

Trusts in South Africa are often misunderstood and mismanaged as if they were legal entities like companies, leading to joint liability for trustees. Family members commonly act as trustees, unlike in other countries where professional trustees, like attorneys, accountants, and financial advisers, predominantly manage trusts.As such independent trustees, who are usually professionals, guide these family trustees who often lack expertise. Independent trustees not only need to declare their qualifications to the Master of the High Court, but also require professional indemnity (PI) insurance to protect against possible liabilities from their trustee duties.However, independent trustees’ PI insurance might not cover trustee services, so it’s crucial that they review their policies to ensure they have the right coverage. PI insurance typically includes defence costs and compensation for negligence, but trustees should avoid double insurance to prevent claim repudiation.It also remains imperative that the layman trustees obtain third-party advice and ensure these advisers are reputable and insured. I invited trust expert Phia van der Spuy into the studio, to detail the most important factors which both professional and amateur trustees need to consider when using this vehicle for financial- and estate planning purposes.Van der Spuy (pictured below) is a chartered cccountant with a Master’s degree in local and international tax, a registered fiduciary practitioner, chartered tax adviser, a trust and estate practitioner and the founder of Trusteeze – a company that digitised trust administration and accounting. She also holds a B.Com Honours degree in Industrial Psychology.…

Money, Markets and Masterminds

1
Looking at the bright side of the South African economy with Adrian Saville 24:02

46 weeks ago24:02

24:02

In today’s episode with my guest Adrian Saville, we focussed on the country’s economic attractiveness, driven by compelling yields on government bonds, stabilising inflation and a strategically undervalued rand. We also discussed the critical reforms and infrastructural improvements necessary to stimulate growth and create jobs. Saville (pictured below) also highlighted the specific investment opportunities in the mid-cap equity market, including the tourism and mining sectors, offering a comprehensive view of South Africa’s investment horizon. Saville is a seasoned executive with more than 25 years’ experience in capital markets and investment management. He was the founder and chief executive of Cannon Asset Managers, but sold the business to a listed company in 2021. He then joined a multi-family investment office, Genera Capital, where he was responsible for growing the firm’s market presence.Last year he decided to take a step away from that and focus on his professorship in economics, finance and strategy at the Gordon Institute of Business Science (GIBS).Tune into our conversation for a deeper dive into the political and economic prospects and challenges that lie ahead.…

Money, Markets and Masterminds

1
‘Market Pulse Monthly with Morningstar’ - Is SA on the cusp? 18:48

47 weeks ago18:48

18:48

Morningstar South Africa’s Sean Neethling discusses the sentiment shift toward SA assets and what investors should pay attention to amid the government's coalition transition. ‘Welcome to 'Money, Markets, and Masterminds,' - a Citywire South Africa podcast that delves into the intricate world of finance, investment and strategic decision-making. Today is our second episode of a new underlying series, in partnership with Morningstar South Africa and its head of investments Sean Neethling. The series, aptly called: ‘Mind over Markets with Morningstar’ provides the latest insights on monthly investment trends. For the foreseeable future, the first Monday of every month, we will be exploring key market developments and dissecting economic indicators, which will cover everything from equities and fixed income to commodities and alternative investments.South African assets reacted positively to news of a coalition government, after the ANC lost its 50% majority in the results of the national election in May. Markets were especially positive about the announcement of a government of national unity (GNU) and specifically the potential partnership between the ANC and DA. There has been a clear sentiment shift with SA assets all rallying significantly over the last two weeks to 21 June.Recent market movements suggest there is a SA-specific story underlying performance. The question is what are the main drivers, how sustainable is that performance and what should investors pay attention to as SA transitions into a coalition-led government?Neethling discusses this and more in this episode.…

Money, Markets and Masterminds

1
Putting the ETF in fund selection ETFSA director Gareth Stobie discusses the surge in JSE-listed ETFs, sector trends and what investors should look ou.. 27:40

48 weeks ago27:40

27:40

Welcome to 'Money, Markets, and Masterminds' – a Citywire South Africa podcast – that delves into the intricate world of finance, investment and strategic decision-making. My guest today is Gareth Stobie, the founder of CoreShares, which has blossomed into a flourishing passive investment management business and ETF issuer. At the point of its acquisition by 10X Investments – not too long ago – it had approximately R13,8bn under management. Stobie is now director of strategy and corporate development at ETFSA and is working with other industry stalwarts such as Mike Brown and Nerina Visser.Exchange-traded funds (ETFs) have been around since the early 1990s, but in recent years their popularity has soared. Today, there are more ETFs listed on the JSE 222 to be exact) than single shares. In this podcast we'll explore what's driving this surge, the latest trends shaping the ETF landscape and what investors should keep an eye on moving forward.…

Money, Markets and Masterminds

1
Numsa boss slams neo-liberal policies and pension fund reform 31:23

50 weeks ago31:23

31:23

In this podcast interview with Numsa deputy general secretary Mbuso Ngubane (pictured below) at Citywire South Africa’s annual retreat in Fancourt, the union boss emphasised the importance of the working class being more active in the economy and owning the means of production.Numsa is the biggest trade union in South Africa with around 340,000 members. Mbuso is a key member of the executive committee and his responsibilities include directing the day-to-day operations and managing relationships with strategic stakeholders of Numsa members across a myriad of sectors including retirement funds in the manufacturing, mining and automotive sectors.He also wants workers to have power over their own retirement savings, thus allowing them to meet their obligations and purchase property to create generational wealth. He said there is an urgent need for more purposeful behaviour in government in addressing these shortcomings and he questioned the election results, stating that they did not reflect the working class’s ambitions. Listen to this explosive Citywire interview below, which reveals how fragile the relationship between organised labour and government is.…

Money, Markets and Masterminds

1
'Mind over Markets with Morningstar' - How sticky are flows, really? 19:00

51 weeks ago19:00

19:00

Today is our first episode of a new underlying series in partnership with Morningstar South Africa and their Head of Investments - Sean Neethling, who was on the show not too long ago.This new series is aptly called: ‘Mind over Markets with Morningstar’ and will provide the latest insights on monthly investment trends. So, for the foreseeable future, the first Monday of every month, we will be exploring key market developments and dissecting economic indicators, which will cover everything from equities and fixed income to commodities and alternative investments.US Equities have continued to dominate global markets since the world emerged from the COVID-19 pandemic in 2020 and have been supported by exceptional performance by American tech companies, the so-called Magnificent Seven, leading valuations to all-time highs. According to Morningstar data The S&P 500 returned 29.8% over the 12 months to end March 2024 and the Nasdaq delivered 39.2% over the same period. In short, if you had exposure to US equities, especially, listed tech stocks, you would have been in a very fortunate position today. It seems that Nvidia continues to be the standout with the company maintaining its competitive edge in generative AI but we are starting to see some divergence in the performance of US tech companies.Given the mixed earnings reports and the unclear path of interest rates in the US, what performance indicators should investors focus on to navigate this potential fork in the road for American tech companies?Listen to this podcast to find out.…

Money, Markets and Masterminds

1
Alexforbes addresses several misconceptions around the upcoming two-POT retirement system 27:43

1 year ago27:43

27:43

The two-pot retirement fund system is the most significant reform that the local pension fund industry has seen in recent years.Besides getting a handle on the legal changes — including the Revenue Laws Amendment Bill and the Pension Laws Amendment Bill —each private and public fund will also have to amend its rules to accommodate the new regime. The Financial Sector Conduct Authority - or FSCA for short - already allowed the funds that fall under its jurisdiction to start submitting their rule amendments from the beginning of the month. Rule amendments must be approved, or funds won’t be able to seed the savings pot or pay out withdrawals. But if the red tape is not enough to keep administrators up at night as the 1 September deadline looms, industry experts have warned that the expected volume of withdrawal applications could add fuel to this fire. Tackling misinformation about the new system will also be tricky. It is for this reason that I invited John Anderson, Executive: Solutions and Enablement at Alexforbes into the studio today to help navigate Citywire listeners through some of the details of this expected frenzy. Some of the misconceptions cleared up in this episode include the fact that the new system is indeed starting on September 1, despite some beliefs to the contrary. The initial setup of the savings pot is not a one-time opportunity; it will be accessible annually under certain conditions. And Not everyone will receive the maximum R30,000; it’s based on 10% of their accumulated savings, subject to a cap. Tune in to understand some of the finer details around the new regime and find out more about the importance of thorough preparation and clear communication as the industry transitions to this new system, which ultimately aims to improve retirement outcomes for its members.…

Money, Markets and Masterminds

1
Trustees need to ensure that members have access to financial advice 16:04

1 year ago16:04

16:04

In this episode, we delve into the essential topic of default regulations and their impact on investors and retirees. We'll explore the significance of these regulations for investment portfolios, the crucial roles of trustees and financial advisers and the strategic setup of the Investment Policy Statement. Discover how these regulations, implemented in March 2019, guide the provision of default investment portfolios and influence retirement savings strategies, including post-retirement products like annuities. Joining us today is Johann Peens, an independent registered financial adviser with the Financial Planning Institute of South Africa. Johann shared his expertise on advising clients about these regulations and ensuring they receive good value for their retirement savings. Tune in to learn how standardised practices can help members retire comfortably and how the two-pot retirement system has made independent advice more important than ever before.…

Money, Markets and Masterminds

1
The rise in JSE company delistings has elevated investor concerns 19:04

1 year ago19:04

19:04

The South Africa of 1995 was a very different place. The country was basking in the glow of its first democratic elections the year before. We won the Rugby World Cup for the first time and DStv had just launched.The Johannesburg Stock Exchange also looked vastly different. At the time, 600 companies were listed on the exchange. Only six of the companies listd in the Top 40 index then – Anglo American, Richemont, Standard Bank, Sasol, Nedcor (now Nedbank), Absa and GoldFields – remain among the 40 largest shares on the bourse today.And with BHP’s recent bid for Anglo, we don’t know how long, or even if, it will stick around. The increased number of companies de-listing from the JSE has elevated investor concerns about the outlook for local equities. The shortage of new listings, the relatively weak performance of local shares and depressed levels of business confidence have further fanned fears among market participants. While the delisting trend is concerning, our discussion today is less about the number of companies vanishing from the equity market and more about the level of market concentration and its impact on investment portfolios.Citywire South Africa invited Sean Neethling, head of investments at Morningstar Investment Management South Africa into the studio to talk about what this means for money managers. Neethling joined the business in July 2021 and is responsible for Morningstar South Africa’s domestic and global portfolios. He also oversees the firm’s entire investment capability and strategy.This is what he had to say.…

Money, Markets and Masterminds

1
Probate challenges and estate planning complexities 24:29

1 year ago24:29

24:29

Many South African investors are seeking offshore opportunities, whether for diversification purposes or a currency hedge, or due to an economic or a political agenda.However, a recurring, underlying problem in such decisions is that most individuals don’t realise how their foreign investments may impact their estate on death.Offshore probate refers to the process of applying for the right to deal with a deceased person’s foreign assets and proving their will as a valid legal document in a foreign jurisdiction. A grant of probate can be seen as the equivalent of a letter of executorship in South Africa and serves as the formal acknowledgement by a foreign court that a will is enforceable. It also confirms that the persons named as executors under the will have the authority to manage the estate.The process may vary in different jurisdictions, which can make it extremely complex.For this reason, I invited Albert Coetzee, head of the Ninety One Global Investment Platform, into the studio to explore whether probate will be required when investing in offshore-domiciled products, and if so, what that entails.Apart from managing sales, Coetzee is closely involved in the servicing, product, marketing, legal and compliance, as well as the events aspects related to Ninety One’s Global Investment Platform.He is a qualified lawyer and holds Bachelor of Commerce and Bachelor of Legislative Law degrees. He is also a certified financial planner.Have a listen to the recording on when and where probate becomes a problem.…

Money, Markets and Masterminds

1
From past to present – the role of CPD in shaping financial, legal and tax advice 31:55

1 year ago31:55

31:55

Welcome to Money, Markets, and Masterminds,’ a Citywire South Africa podcast that delves into the intricate world of finance, investment and strategic decision-making.In this episode, we explore the captivating journey of continuous professional development (CPD) in South Africa, with a specific focus on its impact within the tax advisory landscape.In the studio today is Stiaan Klue, the founder and former CEO of the South African Institute of Taxation (Sait), who now heads up the Tax Faculty: an offshoot of Sait’s former development and training arm. He is also the founder of and a significant shareholder in the SA Accounting Academy – a CPD provider catering for the accounting profession.Klue explained the importance of CPD for advisers who are navigating the complexities of South Africa’s financial and legal sectors, delving into its historical roots to its evolving role in shaping professional standards.He shared his insights into the vital role that CPD and the professional bodies that manage the process have played in shaping the industries they operate in. Discover too how CPD programmes empower advisers to stay ahead, in a rapidly changing industry.…

Money, Markets and Masterminds

1
Unveiling the lasting value of brokers – insights from the funeral industry 16:12

1 year ago16:12

16:12

Insurance brokers still play a vital role in the financial services industry in providing product expertise, access to markets, claims assistance and regulatory compliance support.Despite technological advancements and alternative distribution channels, brokers continue to serve very specific needs in the value chain.In this episode we are talking specifically about the significant role that insurance brokers play in driving growth within the funeral industry in South Africa, a country which collectively conducts about 480 000 funerals a year post-Covid.In the studio we have Clinton Macdonald, CEO of KGA Life, a specialist funeral insurance underwriter, specialising in group schemes. It has a national presence through an extensive distribution network of intermediary partners, with offices in Gauteng, the Western Cape, Eastern Cape and the Free State.In 2017, Macdonald joined KGA, which was founded in May 1986. He was appointed its CEO in 2019.Listen to his insight into the funeral industry, which shows that intermediaries are often very localised within their communities and build trust with customers on a level that the product providers simply cannot attain themselves directly. And how the Covid pandemic set a very specific scene for why brokers still matter.…

Money, Markets and Masterminds

1
How open are African pension funds to offshore allocations? 18:08

1 year ago18:08

18:08

As the global economy evolves, so do the strategies of institutional investors, including pension funds. With an aim to diversify their portfolios and optimise returns, many retirement funds across the continent are increasingly looking towards offshore investments. But I wanted to find out what exactly the trends are and what is driving this shift in mindset.In the studio today, we have Derrick Roper, Chief Investment Officer of the Novare Group, as well as the Managing Director of Novare Equity Partners, a private equity firm in-vesting exclusively in Sub-Saharan Africa and outside of South Africa.Before co-founding Novare, Derick worked for several large financial services companies in South Africa including Sanlam and Gensec Asset Management. He also spent some time in the UK where he gained experience in investment product development in the pension fund market.…

Money, Markets and Masterminds

1
Prescribed assets - The potential erosion of investor choice and misallocation of capital 19:04

1 year ago19:04

19:04

Welcome to 'Money, Markets, and Masterminds,' - a Citywire South Africa podcast - that delves into the intricate world of finance, investment, and strategic decision-making. If you're a fund selector or an independent financial adviser, looking for insights, analysis, and expert opinions to enhance your perspective, you're in the right place - here with me editor - Ruan Jooste. Today’s podcast is all about the latest economic trends and developments that are shaping economies around the world, with a specific focus on sovereign debt, and the controversial topic of prescribed assets. One of the key concerns surrounding the South African economy is its rising government debt and the upward trajectory, reaching unsustainable levels, which means the servicing costs are growing astronomically, with the country not being able to show much for those increases.One proposed solution to address government debt levels is the implementation of prescribed assets, which is now an official fixture in the ruling party’s manifesto. It says it will forge ahead with plans to revive an apartheid-era rule compelling pension funds to plough money into certain government-approved investments, assuming it retains power in upcoming elections. So, what are the chances of this playing out and what are the accompanying factors that investors should be most worried about. We invited Reza Ismail, the head of bonds at Prescient Investment Management into the studio to take us through the motions.…

Money, Markets and Masterminds

1
Is it the year 20 twenty ‘thrive’ or 20 twenty ‘survive’? 18:24

19 weeks ago18:24

18:24

Welcome to a brand-new year and the latest episode of ‘Money, Markets, and Masterminds’, the Citywire South Africa podcast that unpacks the intricate world of finance and investments. In this episode – our first for 2025 and the eighth in partnership with Morningstar South Africa – I’m joined by Sean Neethling , Morningstar’s head of investments, to gaze into the crystal ball for the year ahead. As we leave 2024 behind, with its surprises, market highs and political shifts, we tackle pressing questions: • Will US equities sustain their stellar performance, or is caution warranted? • How will global interest rates and inflation shape developed and emerging markets? • Can South Africa build on the positive momentum from last year’s elections? Whether you’re a financial adviser, fund selector, or institutional investor, this episode delivers actionable insights, expert analysis and strategic tips to help you navigate the uncertainties of 2025.…

Money, Markets and Masterminds

1
Are umbrella funds truly delivering on their promises, or are they falling short of providing the value members deser 28:27

24 weeks ago28:27

28:27

For many employers, umbrella funds promise simplicity, cost-effectiveness and the benefits of scale. But beneath the surface, there are pressing concerns. Critics have pointed out issues ranging from hidden costs to limited transparency. Employers often focus solely on administration fees, overlooking other significant expenses like investment fees, which can leave their staff worse off financially. There’s also the question of who truly benefits from economies of scale. Is it the member, or is it the fund sponsor and service providers? And, as the market grows more complex, advisers and consultants face challenges in being able to see through the marketing to provide sound, impartial advice. To help us unpack these issues, we’re joined by Andrew Crawford, CEO of Seshego Benefit Consulting, an expert in retirement fund solutions and a thought leader who’s been very vocal about the need for greater transparency and accountability in the umbrella fund space.…

Money, Markets and Masterminds

1
How Trump-proof is your portfolio? 18:05

25 weeks ago18:05

18:05

This episode serves as a year-end analysis, providing insights into how investors can navigate the uncertainties ahead. As markets reacted positively to Donald Trump’s presidential win, with both equity futures and the US dollar rising significantly, questions arise about the sustainability of these trends. Joined again by Sean Neethling, head of investments at Morningstar South Africa, we delve into asset allocation strategies in a changing political landscape, identifying sectors that may benefit from ‘Trumponomics’ while also considering potential risks. We also highlight the importance of understanding trade policies and their impact on international relations, particularly with China, as well as the implications for South Africa amid its own political challenges. Listen to the conversation below to find out how these developments influence investment decisions and portfolio construction.…

Money, Markets and Masterminds

1
Developments in emerging markets 20:09

29 weeks ago20:09

20:09

For most of the last three years US markets, led by large-cap growth companies, have surged while other developed and emerging markets have struggled to keep up. As a grouping, emerging markets seem to have lost their lustre and global investors appear more willing to rotate allocations within the US, as opposed to allocating capital outside its borders. The result is that the valuation gap between the US and emerging markets is widening, as broader developing regions haven’t seen the level of flows to support sustained investment performance. Some of the big questions looming are whether investors will continue to shun emerging markets, or if lower valuations and recent stimulus measures introduced by China will see these markets rally? Are there other countries or regions that we should be looking at? And do these locations have a place in investor portfolios? We had Sean Neethling – the head of investments at Morningstar SA – back in the studio to provide us with some of the answers to these questions.…

Money, Markets and Masterminds

1
Decoding the Top 50 Advisers list and how advisers made the cut 9:44

29 weeks ago9:44

9:44

In this episode of Money, Markets, and Masterminds we unpack the thinking behind Citywire South Africa’s inaugural Top 50 Adviser list that was released this week. Joining me in studio is Tracy Benjamin, Citywire South Africa’s audience development relationship manager, who shared her insights into the selection process of advisers included in the report. She also discussed how this recognition can enhance the careers of advisers across the country. We also touched on what was included in the questionnaire and some of the overarching themes that emerged from advisers’ submissions.…

Money, Markets and Masterminds

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The many challenges faced by administrators under the two-pot system 19:01

32 weeks ago19:01

19:01

In the latest episode of ‘Money, Markets, and Masterminds,’ host Ruan Jooste discusses key highlights from the recent Institute of Retirement Funds Africa (IRFA) conference held in Cape Town, themed ‘Better Together’, bringing together over 1,000 delegates, including retirement fund managers, regulators, and industry experts. Joined by IRFA President Geraldine Fowler, they explore the integration of private sector initiatives with regulatory frameworks, insights from global best practices, and future trends in retirement funding influenced by technology and demographics. They also address challenges faced by retirement fund administrators since the implementation of the Two-Pot System and the ongoing issue of unpaid pension contributions by employers.…

Money, Markets and Masterminds

1
With wills in the digital age, there is not always 'a way' 15:26

34 weeks ago15:26

15:26

In today’s episode, we delve into a topic that might not be the most exciting but is crucial for every one of us — the importance of having a will, as well as the challenges of obtaining a valid one. The Covid-19 pandemic certainly made many people rethink their priorities, revealing just how important it is to have their affairs in order. But as it turns out, more than two-thirds of South Africans still don’t have a will, according to available statistics. As the Law Society’s annual wills month comes to an end, we explore why that’s the case, the technicalities and technological challenges in obtaining a valid will and around the preservation of digital assets, with Chris Murphy, vice-chairperson of the Fiduciary Institute of Southern Africa (Fisa) and founder director of Legacy Fiduciary Services and Estate Planners.…

Money, Markets and Masterminds

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SA ETF fees remain elevated relative to our global peers 17:26

34 weeks ago17:26

17:26

There are clear trends abroad, especially in the US where firms like Blackrock and Vanguard have built up industry-leading pools of assets under management by being first movers in a range of passive investment products and exchange traded funds (ETFs), including actively managed ETFs. The local asset management industry looks very different with larger active managers still holding significant market share and passive incumbents seemingly struggling to gain any significant portion of that share. The result is that, while the trend is moving in the right direction, fees in South Africa remain elevated relative to our global peers. This was one of the key takeaways from recent Morningstar South Africa research in a review of retail share class fees across different unit trust categories according to the Association of Savings and Investment SA (Asisa). The good news is that South African investors saw fund management fees declining last year. The average asset-weighted total expense ratio (TER) for active funds was 1.17%, while the same fee on passive funds was 0.57%. That being said, the costs are still substantially higher than tracker options in other markets. But what does this mean for current and future investment prospects? Listen to our conversation with Sean Neethling (pictured above), head of investments at Morningstar South Africa, on some of the significant developments in the passive and active asset manager universe.…

Money, Markets and Masterminds

1
Alpha Female Report: Gender parity in portfolio management remains elusive 18:58

35 weeks ago18:58

18:58

Citywire’s 2024 Alpha Female Report was launched on Monday and revealed a somewhat encouraging stride in gender diversity within the asset management industry, with women now occupying 12.5% of portfolio management roles globally, up from 12.1% last year. The survey also showed, only about 12%, or 22 out of the 190 rated managers with funds domiciled in South Africa, are female. One positive to draw from the report is that the overall numbers are going in the right direction, but a lot more needs to be done. Now in its ninth year, the report draws on Citywire’s database of just over 18,100 individual money managers around the world, including South Africa. I invited my colleague and the co-author of this year's Alpha Female report, Nicola Blackburn, on the show today, all the way from our head office in London, to talk us through some of the other major trends revealed in the report. She is Citywire's chief reporter in the UK, covering investments for a British intermediary audience.…

Money, Markets and Masterminds

1
Responsible investing is much more than just picking companies that claim to be green 17:09

37 weeks ago17:09

17:09

In this podcast episode, we delve into the world of responsible investing and discuss Investec Wealth & Investment International’s newly launched ESG and Responsible Investing Guidebook. We explore how this free-to-download educational resource can help trustees, investors, and fund selectors navigate the complexities of integrating environmental, social, and governance (ESG) considerations into their investment strategies. ESG is no longer a niche strategy; it has entered the mainstream as businesses and institutions are increasingly expected to be responsible stewards of the planet and its people. However, this shift comes with its challenges, especially when it comes to managing money and aligning investment returns with institutional values. We asked Barry Shamley (pictured below), portfolio manager of the Investec BCI Dynamic Equity fund and co-manager of the Investec Global Sustainable Equity fund at Investec Investment Management to help us examine his approach of incorporating ESG into his investment strategies and what questions should be posed to issuers to enable long-term success and sustainability. We also explore the trends shaping the future of ESG investing and the challenges faced by trustees, investors, and fund managers in adapting to this rapidly evolving landscape.…

Money, Markets and Masterminds

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Why DFMs are geared to support advisers, not replace them 21:01

37 weeks ago21:01

21:01

In this episode of Money, Markets, and Masterminds we delve into the growing role of discretionary fund managers (DFMs) in the financial advisory landscape. We are joined by Nadir Thokan, senior DFM specialist at Alexforbes, to discuss how DFMs are transforming the industry by providing streamlined portfolio management, research, and compliance support for financial advisers. We explore the benefits for advisers in outsourcing investment decisions, the challenges surrounding transparency and fees and how DFMs complement financial advisers rather than replace them. Given South Africa’s rapidly growing DFM market, we also discuss how best practices and international trends, particularly from the UK, can help ensure sustainable growth for the industry. Advisers who want to learn more can listen to our conversation below…

Money, Markets and Masterminds

1
A random walk down bond street 20:23

38 weeks ago20:23

20:23

Nearly two and a half years after the US Federal Reserve (Fed) kicked off a massive increase in interest rates, in a bid to combat surging inflation of course, global bond markets now appears to be heading in a new direction. It is widely believed that the Fed will start cutting interest rates this month at its policy-setting meeting on 18 September. The CME FedWatch tool shows that futures markets are pricing in about a 65% chance of a 25 basis-point cut, while the probability of a more aggressive 50 basis-point cut is around 35%. To show how expectations have shifted: a month ago the market was expecting only a 4% chance of a 50 basis-point cut. However, following a weaker-than-expected American jobs report showing unemployment rising to 4.3% in July, recession fears have begun to surface. The August report drops this Friday. So, there are still a few unknowns about, including what this all means for bonds going forward. So here to help us make sense of it all, we are joined by Morningstar South Africa’s head of investments, Sean Neethling. Listen to our conversation below.…

Money, Markets and Masterminds

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SA private equity fundraising activity surges to a 13-year high 17:51

40 weeks ago17:51

17:51

Close to 60% of the funds raised came from international investors, indicating growing interest from global markets in local markets. In this episode of "Money, Markets, and Masterminds," the discussion centres around the recent surge in private equity fundraising activity in South Africa, reaching a 13-year high. The conversation highlights key insights from the South African Venture Capital and Private Equity Association's (SAVCA) 2024 Private Equity Industry Survey, based on the preceding year‘s figures. Another key finding of the survey was that 43% more in private equity funds were raised last year than in the preceding 2022. So, 2023 started off at a high of R28.1 bn. We invited Tshepiso Kobile, CEO of SAVCA, to the studio to help unpack some of the other details in the survey and chat about private markets in general - here and abroad. Tshepiso (pictured below) has quite the resume. She previously served as an investment professional with the Development Bank of Southern Africa and as a property finance manager with Standard Bank. Her most recent position was as Senior Programme Manager for Cata-lytic Projects at the eThekwini Municipality in KwaZulu Natal. Tshepiseo holds a BSc (Honours) Degree in Property Studies from the University of Cape Town and a Diploma in Company Direction from Institute of Directors in the UK. For more information, you can download the complete SAVCA PE Industry Survey 2024 here: SAVCA-PE-Survey-2024-Digital.pdf.…

Money, Markets and Masterminds

1
‘Market Pulse Monthly with Morningstar - The certainty of uncertainty - Reframing Risk 20:55

41 weeks ago20:55

20:55

In this episode of "Money, Markets, and Masterminds," Citywire South Africa editor Ruan Jooste is joined by Morningstar South Africa’s Head of Investments, Sean Neethling, to delve into the complexities of investment risk. They discuss the shifting market dynamics, from tech stock volatility to geopolitical tensions, and how investors can navigate these risks with a strategic approach. Sean shares insights on defining risk, understanding market concentration, and maintaining a long-term investment perspective in an increasingly uncertain world. Tune in for expert analysis and actionable advice on safeguarding your portfolio.…

Money, Markets and Masterminds

1
The impact of data and computing power on investment strategies 19:40

43 weeks ago19:40