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CityPress - - Business - COM­PILED BY AN­GELIQUE RUZ­ICKA

LO­CAL IN­VESTORS SAVE R166 BIL­LION

Ac­cord­ing to the As­so­ci­a­tion for Sav­ings and In­vest­ment SA (Asisa), South Africans in­jected a whop­ping R166 bil­lion into col­lec­tive in­vest­ment schemes last year, push­ing as­sets un­der man­age­ment over the R2 tril­lion mark.

In 2015, the lo­cal col­lec­tive in­vest­ment scheme in­dus­try saw net in­flows of R101 bil­lion, while, in 2014, R109 bil­lion was recorded.

The South African mul­ti­as­set port­fo­lios, where fund man­agers al­lo­cate funds across a range of as­sets, was the pref­er­ence for most in­vestors, at­tract­ing R71 bil­lion of the to­tal net in­flows in the 12 months to the end of De­cem­ber. South African in­ter­est­bear­ing money mar­ket port­fo­lios re­ceived net in­flows of R50 bil­lion last year, while other in­ter­est-bear­ing port­fo­lios recorded net in­flows of R17 bil­lion. South African eq­uity port­fo­lios at­tracted R10 bil­lion.

Sunette Mul­der, se­nior pol­icy ad­viser at Asisa, said higher net in­flows into money mar­ket port­fo­lios were not sur­pris­ing given the lo­cal and in­ter­na­tional eq­uity mar­ket volatil­ity that pre­vailed last year. Money mar­ket port­fo­lios out­per­formed gen­eral eq­uity port­fo­lios by 3.5% over the 12 months to the end of De­cem­ber.

In­ter­na­tion­ally, in­vestors put their money pre­dom­i­nantly in eq­uity port­fo­lios (42% of all in­ter­na­tional col­lec­tive in­vest­ment scheme as­sets), fol­lowed by bond port­fo­lios (23%), balanced port­fo­lios (13%) and then money mar­ket port­fo­lios (12%).

FSB IS­SUES WARN­ING

The Fi­nan­cial Ser­vices Board (FSB) has is­sued a warn­ing about Cle­ment Maloi, who claims to be a di­rec­tor at the FSB. Maloi’s num­ber is 083 510 9964 and he calls un­sus­pect­ing mem­bers of the pub­lic to so­licit money us­ing a fraud­u­lent let­ter bear­ing the FSB’s name and logo.

He tricks peo­ple into be­liev­ing they will re­ceive a lump sum of cash that has been ap­proved by the SA Re­serve Bank’s clear­ance de­part­ment.

For this “pay­out” to be granted, cus­tomers need to pay a fee, but this is a scam to get funds.

“In ad­di­tion,” said the FSB, “the let­ter is mis­lead­ing in that it claims that Hong Kong is al­legedly nom­i­nated as a le­git­i­mate in­ter­na­tional pay­ment re­ceiv­ing agent rep­re­sent­ing the Asian re­gion to re­ceive the cer­tifi­cate fee. This is un­true.”

The FSB stated that it did not re­quire any pay­ment from any cus­tomer for com­pli­ance with any of the laws it ad­min­is­ters.

It en­cour­aged con­sumers to be vig­i­lant and re­port any per­son who was al­leg­ing that the FSB re­quired any sort of pay­ment. Con­tact the FSB ei­ther on the toll-free num­ber 080 011 0443 or through its web­site fsb.co.za to re­port any sus­pected fraud­u­lent be­hav­iour.

DEBTBUSTERS IS A WIN­NER

DebtBusters has won South Africa’s Na­tional Debt Coun­selling Com­pany Award as voted for by con­sumers, adding to two pre­vi­ous awards in 2014 and last year.

Con­sumer Debt Help, part of the In­tel­li­gent Debt Man­age­ment group, which DebtBusters falls un­der, won South Africa’s favourite Large Debt Coun­selling Com­pany Award.

Ian Wa­son, CEO of In­tel­li­gent Debt Man­age­ment, made a spe­cial men­tion of Con­sumer Debt Help, which coun­sels low­in­come earn­ers.

“It’s great to see both DebtBusters and Con­sumer Debt Help win in their re­spec­tive cat­e­gories this year,” he said.

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