Weekend Argus (Saturday Edition) - - FRONT PAGE -

Indi­ca­tions are that mem­bers are on track with im­ple­ment­ing the Ef­fec­tive An­nual Cost stan­dard (EAC), the As­so­ci­a­tion for Sav­ings & In­vest­ment SA, says.

• The MMI Group (Mo­men­tum and Metropoli­tan), says it will have suc­cess­fully im­ple­mented EAC across a num­ber of prod­uct ranges by to­day. The re­main­ing prod­uct ranges will be im­ple­mented dur­ing the month of Oc­to­ber.

• Jean Min­naar, in­vest­ment and sav­ings gen­eral man­ager at Old Mu­tual Emerg­ing Mar­kets, says: “We are on track with our core mid­dle and high-in­come so­lu­tions from our linked-in­veste­ment ser­vices provider, life and unit trust man­ager li­cences, but are de­layed with our low-in­come prod­ucts. The roll-out of the quot­ing tools will hap­pen over the week­end and will be em­bed­ded in the of­fices of our agents and bro­kers from Mon­day.”

• The chief ex­ec­u­tive of San­lam Per­sonal Fi­nance Ac­tu­ar­ial, Kir­shan Reddy, says San­lam is ready to im­ple­ment the EAC from to­day.

• Dis­cov­ery says the EAC will be de­ployed through its quo­ta­tion sys­tem on Mon­day.

• Lib­erty Life had not re­sponded by the time of go­ing to press.

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