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Warnings
The Financial Sector Conduct Authority (FSCA) warns against doing financial services business with three entities, Davani Forex Company, Forex Guru Investment, and “Mr Kayla”, none of which is registered with the FSCA. Davani Forex Company is apparently soliciting money from the public and promising unrealistic returns. Forex Guru is, according to the FSCA, also conducting unregistered business and is using the logo of a registered provider, SA Asset Management. SA Asset Management has confirmed that it has no business relationship with Forex Guru. And third, a certain Mr Kayla is misrepresenting himself as attached to Prescient Investment Management. A registered provider, Prescient has confirmed that it has no relationship with this gentleman.
Income
The latest Decent Standard of Living Measure, conducted telephonically among a representative sample in five provinces over the Covid-19 pandemic, has determined that the minimum monthly income per person for a decent standard of living is R7 911. It found that South Africans across a spectrum of socio-economic backgrounds viewed 21 socially perceived necessities (SPNs) as a benchmark for a decent standard of living. The survey measured 50 key attributes relating to personal belongings, access to community-based services, activities and relationships with family and friends. The SPNs range from a free-standing home that is strong enough to withstand the weather to access to a cellphone and to supermarket in their local neighbourhood.
Investments
The Spiva report, released twice annually by S&P Dow Jones Indices, tracks the performance of South African actively managed funds against their relevant S&P DJI benchmarks. The most recent report, released this week, covers the period ending June 30, 2021. It shows that over the first six months of the year, 60% of South African active equity funds underperformed the S&P South Africa 50. Over periods of three and five years, the proportion of South African equity funds underperforming the S&P South Africa 50 was 81% and 93% respectively. Looking globally, over the first six months of the year, 64% of global equity funds failed to beat the S&P Global 1200 Index.
Advice
For the second year in a row, Sasfin Wealth has topped the rankings at the Intellidex Top Securities Brokers Awards, retaining its title as the “Top Advice Broker”in South Africa. “Sasfin Wealth is a hands-on stockbroking, portfolio management, asset management and advisory business,” says Flynn Robson, head of portfolio management and stockbroking. “Despite the distance created by the pandemic, we have retained our ability to connect, inform and educate clients.” Renamed, and now in its 12th year, Intellidex Top Securities Brokers Awards is a highly regarded evaluation of the industry, due to the fact that surveys are completed by clients, delivering real feedback and ratings from investors.
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