STEPHEN CRANSTON: The end of the debate
Delegation of Asisa’s coverage of unit trusts has led to a subtle shift in focus
I remain sceptical about the decision to fold the financial lobbying groups into one organisation. The creation of the Association for Savings & Investment SA (Asisa) made sense for at least four people — the chief executives of the large conglomerates such as Old Mutual and Sanlam, who could go to one committee meeting instead of four. Unfortunately, one of the intentions of Asisa was to stifle debate. I suppose the tensions between Gerhard Joubert at the Life Offices’ Association (LOA) and Di Turpin at the Association of Unit Trusts (AUT), while perhaps appealing to journalists, would have been embarrassing for some. But I sometimes think Asisa has no opinion about outside issues, hence it is not drawn into public controversy.I have had numerous complaints from life insurance executives about the weaker research output from Asisa than that of the old LOA. The Asisa life & risk committee is hardly a substitute for the old organisation. Neither of the words "life" nor "insurance" ap...
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