On the

CityPress - - Business And Tenders & Auctions - COM­PILED BY AN­GELIQUE RUZ­ICKA NB has bowed to pres­sure and is re­im­burs­ing cus­tomers af­fected by the Rand­burg, Park­town and Sun­ny­park branch heists. How­ever, cus­tomers are not get­ting money back for the trea­sures that were stolen in their safe-de­posit boxe

FSB IS­SUES WARN­ING

The Fi­nan­cial Ser­vices Board (FSB) has is­sued a warn­ing that Marc PH In­vest­ments has been so­lic­it­ing money from un­sus­pect­ing in­di­vid­u­als.

Ac­cord­ing to the FSB, Marc PH In­vest­ments, which is owned by Mar­cus Mpho Mokone, is ap­proach­ing mem­bers of the pub­lic to in­vest money with the com­pany for three weeks with prom­ises the money will ac­crue prof­its that will be added to their in­vest­ments.

But at the end of this time, the com­pany fails to pay the in­vestors as promised. In­stead, it sends them a let­ter try­ing to so­licit more money by pur­port­ing that the FSB has in­structed Marc PH In­vest­ments to tell clients to pay clear­ing fees, rang­ing from R2 500 or more, be­fore prof­its can be un­locked. At­tached to this cor­re­spon­dence to in­vestors is fraud­u­lent proof of pay­ment from FNB re­flect­ing that the in­vestors’ money has been paid into their ac­counts.

The FSB said it was not in any way af­fil­i­ated to Marc PH In­vest­ments or Mar­cus Mpho Mokone, and the com­pany is not ap­proved by it.

If you are un­sure of whether an in­vest­ment of­fer is le­git­i­mate, you can check with the FSB by call­ing 0800 110 443.

FNB REIMBURSES CUS­TOMERS

F

Rand Mer­chant Bank (RMB) has listed South Africa’s first US Trea­sury Bond Cus­to­dial Cer­tifi­cates ex­change-traded fund (ETF) on the JSE, which en­ables in­vestors to earn US dol­lar-linked re­turns. The prod­uct is called the Dol­lar Cus­to­dial Cer­tifi­cate ETF.

ETFs are in­vest­ment prod­ucts that track the value of a bas­ket of shares or other as­sets such as bonds and com­modi­ties.

“The Dol­lar Cus­to­dial Cer­tifi­cates ETF of­fer­ing is RMB’s sec­ond cus­to­dial cer­tifi­cates list­ing on the JSE, the first be­ing our Kruger­rand Cus­to­dial Cer­tifi­cates ETF. Both of these ETFs are suit­able for in­di­vid­ual as well as in­sti­tu­tional in­vestors. They both al­low in­vestors to save in an in­ter­na­tional as­set that of­fers in­fla­tion-beat­ing real re­turns in US dol­lar,” says Ebrahim Pa­tel, an al­ter­na­tive as­set spe­cial­ist at RMB.

The in­vest­ment cap­i­tal credit ex­po­sure of this ETF is di­rectly linked to the Fed­eral Re­serve, and in­vest­ment per­for­mance will be af­fected by the dol­lar-rand ex­change rate and the price per­for­mance of US Trea­sury bonds.

This ETF list­ing brings the to­tal num­ber of ETFs listed on the JSE to 50, with a to­tal mar­ket cap­i­tal­i­sa­tion of more than R69 bil­lion.

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