Concerns that the Fed will have to wrestle with elevated inflation for a long time slowed this week’s rally
There is growing evidence that the ESG movement is leading to a reduction of capital flows to emerging markets
The Competition Tribunal has approved the transaction without conditions
Mahumapelo is believed to be behind court challenge seeking to halt provincial conference
US exercise equipment company to close stores, raise prices and cut about 800 jobs
Expectations are retail sales grew about 0.5% in June, but indications are SA consumers are starting to feel the hurt from inflation
The writer is likely to lose an eye and has nerve damage in his arm and wounds to his liver
The All Blacks might be the one team for whom altitude is not a disadvantage when they play the Springboks
Rushdie’s condition is not immediately known
Flexible funds give fund managers the chance to build a portfolio which truly represents their best investment view. Yet they have not taken off — the domestic flexible sector has just R60bn under management compared with R480bn in the high-equity sector.
Flexible funds do not qualify under regulation 28 of the Pension Funds Act, so they cannot be used on a standalone basis in a retirement annuity. But many investors have ignored their strengths: they allow fund managers to express their best asset allocation views, and there is extensive research to show that significantly more value is added through asset allocation than stock selection.
And balanced funds are unashamedly peer group funds competing in a league table; flexible funds usually have a real-return benchmark, typically inflation plus 5% or 6%. They are favoured by hedge fund managers who want to set up a long-only fund as they offer absolute and not relative returns. In fact, most hedge fund managers have found that ther...
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