For decades, South Africa’s investment landscape has been shaped by an urban-centric mindset. Capital has flowed overwhelmingly to metropolitan areas, while tribal and communal land has often been viewed through the narrow lens of legal complexity rather...
A positioning dilemma for asset allocation: why rising concentration and shifting stock-bond correlations are changing the diversification math for multi-asset portfolios. A handful of shares now set the tone One of the biggest challenges for global...
A market that keeps changing shape Equity indices are extremely dynamic. In the 1990s, the largest companies in the S&P 500 were ExxonMobil, Philip Morris, Walmart and Coca-Cola. Today, the index is led by Nvidia, Apple, Microsoft and the rest of the...
The meteoric rise of artificial intelligence (AI) has been the defining theme in global equity markets for the past few years, with investors agonising over how to separate winners from losers. Much of the value to date has accrued to the providers of...
For most investors, investing for retirement is the longest-term financial endeavour they will undertake. Success depends less on finding the perfect strategy and more on sticking to a sound one. This calls for alignment between objectives and investment...
Little of this quarter’s news is genuinely new law for retirement funds. It is more a shift in how the existing rules are enforced, and a reminder from both the courts and the Adjudicator that accountability only counts when it lands on the right person and...
For decades, employee benefits have largely been viewed through a transactional lens. Employers provided benefits, insurers assessed claims and employees accessed support when something went wrong. While this model has served an important purpose, today’s...
When I joined the Board of the Institute of Retirement Funds Africa (IRFA) in 2013, I could not have imagined the extent of change that our retirement industry would experience over the next decade. When I was elected President and Chairperson in 2021, we...
Section 37C of the Pension Funds Act (“the Act”) is familiar territory for boards of funds but remains a difficult terrain to navigate. Trustees know the required stages: identify dependants and nominees, assess their circumstances, make an equitable...