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Investment Indicators - 28 August 2017 |
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Paul Kruger
Author/Editor |
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Think not those faithful who praise all thy
words and actions,
but those who kindly reprove thy faults – Socrates |
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Distributed to 48,904 subscribers.
To advertise with us
click here |
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What if you could focus on doing what you love - looking after your
clients?
Leading Independent Financial Advisory (IFA) practices are using GTC’s
Strategic Partner solution to:
- increase time with clients
- increase earnings
- reduce costs
Shouldn’t you too?
Our staff and systems deliver exceptional service, increasing revenues
and saving costs and time for you, enabling you to build value for
succession.
With offices nationally, we are well-placed to help you.
Call us to discuss a strategic partnership.
t. +27 (0) 10 597 6858
e. info@gtc.co.za
w.
www.gtc.co.za
An authorised Financial Services Provider FSP no. 731. |
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| Rates Review |
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1. Secured Investment Rates |
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Please note that (G) indicates a Guaranteed and (L) a Linked product. In order to understand the difference between guaranteed and linked rates,
kindly click here for an explanation. |
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Company |
This Week |
Last Week |
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1Life (L) |
6.650% |
6.730% |
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2 |
Assupol (G) |
6.260% |
6.250% |
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3 |
Absa (L) |
6.255% |
6.311% |
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Company |
This Week |
Last Week |
| 1 |
Assupol (G) |
6.690% |
6.680% |
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2 |
1Life (L) |
6.650% |
6.730% |
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3 |
Discovery (G) |
6.308% |
6.253% |
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2. Money Market Funds |
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Please bear in mind that our figures, though based on the actual quotations that you also use, are for information purposes only,
and can never replace the official quotation from the product house. In terms of the guarantees, you are requested
to clarify the exact extent of such guarantees with the product house prior to advising clients. |
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From the Crow's Nest |
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POPI training: Who needs it?
By Elizabeth de Stadler, Compliance Online |
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We’ve all been there: the stuffy room with the
uncomfortable seats, the monotonous drone of the facilitator
reciting legislation – he’s somewhere in the middle of a
144-slide PowerPoint presentation and you are somewhere else
completely. When I get confronted with this type of
compliance training I am reminded of the expression ‘one
size fits all, fits no-one’. This has led me to adopt the
following mantra when designing training: If I don’t want a
person to do something different tomorrow, I don’t train
them.
When it comes to POPI, training is incredibly important,
because POPI compliance requires a series of small
behavioural changes. These changes often fall within two
categories:
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Slight mind shifts. For instance, most people don’t
realise how dangerous it is to throw paper containing
personal information (such as statements) in the bin. We made a
video about it…
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Changes in processes. POPI compliance often requires
changes to policies and processes. In other words, employees
will be asked to do their jobs differently, to follow a new
policy or to use a new system.
There will be very few people in your business who do
not need POPI training - most people come into contact with
personal information at some point during their day. The key
to successful training is to differentiate between
requirements.
The first step in designing effective training is to divide
your staff into audiences. Here are some typical groupings:
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Management: They will need to understand what the impact of
POPI will be on the business and employees at a more senior level.
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Sales and marketing: There are very specific rules about
the collection of personal information and how information
is used to analyse trends and market to people.
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Customer services and the call centre: They will need to
understand how to handle customer information. Poorly
trained call centres are a treasure trove for identity
thieves.
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Human Resources: HR handles very sensitive employee
information. Many of their processes will have to change.
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Operations: They will need to tackle many of the practical
problems created by POPI. For example, how are we going to
archive and destroy personal information?
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Finance: Always remember that companies are also protected
by POPI. This means that finance will have to look at how
the personal information of vendors is processed.
The list goes on, but the point is simple: Always ask ‘is
this relevant to this person?’ or ‘what needs to change
about how they do their jobs tomorrow?’ You will find that
your training will be much shorter and less boring.
Here are 10 reasons why we
believe e-learning is the way to go.
#1 E-learning can be customised for your company, but also for
each individual user. It is the best way to ensure that training
is targeted.
#2 Employees can learn when it suits them without leaving their
desks (unless they want to leave their desks, e-learning can be
delivered via mobile too). There is also less expensive downtime
than when you train large groups of people in a workshop
setting.
#3 They don’t have to do all the training at once. This means
that when they start feeling overwhelmed they can stop.
#4 E-learning forces all of the trainees to interact with the
information, not just the nerdy types who sit in front and put
their hand up in workshops.
#5 There is a saying in compliance circles: ‘If you can’t
measure it, you can’t manage it.’ The biggest problem with sage
on the stage training is that you have no way of measuring
whether the training was successful. With e-learning you know
exactly how each employee fared, because it is possible to
generate reports based on participation and assessment.
#6 It is easier to make sure that everybody is up to date with
new developments. When things change, users can be alerted and
trained.
#7 Training someone once, does not mean that their behaviour
will be changed forever. E-learning platforms make it easier to
assess when people need refresher training, by testing them from
time to time.
#8 We tend to focus on the people working in the business at the
time when the compliance training is needed, but forget about
new employees. E-learning can form part of induction training.
#9 Unlike facilitators in a workshop setting who disappear after
the session is done (and if they are outsiders, are often never
seen again), e-learning sticks around for as long as you want it
to. This means that employees can use the material as a guide
long after they have completed the training. So it is like
e-learning and an online guide rolled into one.
#10 E-learning shows the business that the compliance department
has arrived in the 21st century. Unless you still use Latin, in
which case we cannot help you.
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Training and awareness is a large component of any POPI
compliance campaign. Or, in the absence of a campaign, it is a
good start. Why? Training raises awareness, exposes risk and
changes behaviour. More so than with many other pieces of
legislation, the risks created by POPI can often be addressed
through small adjustments in behaviour, rather than wholesale
changes to a business’ structure or services. |
About Elizabeth
Elizabeth is a POPI subject matter expert at
Compliance Online. She is also the founding director
of Novation Consulting (Pty) Ltd. |
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THE OLD MUTUAL
MAXIMISED INTEREST FUND (LIFE)
A low cost fund with stable returns that aims to consistently outperform
money market and other short term assets.
The performance target is a market-related return with reference to
movements in the 3-month JIBAR interest rate. The current interest rate
on the fund is 8.81% p.a. net of a Management Fee.
This fund is only available for investment via the Old Mutual Invest Tax
Free Plan, and this offers a great advantage since all investment
return, which includes interest, are tax free.
Click here for the
Fund Fact Sheet
Visit www.taxfreesignup.co.za for more details.
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| Your Practice Made Perfect |
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Clientèle Limited weathers the storm |
Condensed preliminary group results for the year ended 30 June 2017
indicate that, despite a tough economic environment, the Clientèle group
managed to produce very satisfactory results.
Some of the highlights include:
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Diluted headline earnings per share increased by 13% to 139.06 cents;
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Net insurance premiums increased by 8% to R 1.9 billion;
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Return on average shareholders’ interest of 53%;
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Dividends declared per share increased by 15% to 115.00 cents;
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Value of New Business of R 527.18 million;
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Recurring Embedded Value Earnings of R 939.01 million;
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Recurring Return on Embedded Value of 19.20%;
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Embedded Value per share of 1 746 cents
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Net Profit after tax increased yet again to 466 697 million (2016: 414 721 million)
Clientèle Limited remains the only company listed on the JSE that has
shown an increase in profit after tax in excess of inflation for an
uninterrupted period of 19 years.
Long-term insurance
Clientèle Life’s Long-term insurance segment remains the major
contributor to the Group’s performance. Clientèle Life’s Value of New
Business of R408.8 million (2016: R519.6 million) decreased by 21% as a
consequence of increased withdrawals (largely as a result of an increase
in disputes). Nonetheless, Clientèle Life recorded Recurring Embedded
Value Earnings of R760.2 million (2016: R746.5 million) due to strong
production in prior years and generated a 17% increase in net profit for
the year to R404.4 million (2016: R344.2 million). |
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CIS Portfolio Performance Guidelines
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CIS Information Circular 30, published on 12 July 2017, contains
guidelines from the Registrar regarding the publishing and disclosure of
CIS portfolio performance.
The Registrar has noted that some managers of Collective Schemes
Investments are publishing and disclosing performance of a portfolio
class or the highest fee class instead of the performance of the overall
portfolio.
The Circular contains guidelines for the correct application of
Paragraph 9(1)(a) and (c) of Board Notice 92 of 2014.
We only became aware of this circular via an email from the FSB’s news
and updates service received on 23 August.
Click here to download a copy in case you also missed it. |
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Moonstone Regulatory Update Workshops 2017
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Please note: this is NOT
regulatory examination (RE 1 and RE5) training.
A number of regulatory amendments with significant impact on the
industry are in an advanced stage of completion and implementation.
These include fit and proper requirements, remuneration issues, FICA and
RDR.
We will share what you need to know in a practical and understandable
manner to allow you to make informed decisions on how the proposed
changes are likely to impact you and your business.
The workshops are scheduled for September, and will be presented in
seven venues nationally.
Click here to register. |
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POPI Awareness Training
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Moonstone Business School of Excellence (MBSE), in collaboration with
Compliance Online, now offer a nine-module online training course for
businesses that will be required to comply with the requirements of the
Protection of Personal Information Act (POPI).
Content
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Module 1 provides an overview of the rationale for, and aims of, the
Protection of Personal Information Act (POPI) and sets out who and what
POPI applies to.
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Module 2 explains what is meant by personal information and special
personal information and the rules for processing special personal
information and information of children.
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Module 3 explains what is meant by "processing" and gives an overview
of the types of processing activities that are excluded from the
provisions of POPI.
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Module 4 explains the first requirement of POPI for the lawful
processing of personal information: that processing must be done for
clearly defined and limited purposes.
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Module 5 discusses the need for transparency about the reasons for
collecting personal information and its intended uses.
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Module 6 explains authorised processing of personal information.
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Module 7 explains what accurate processing of personal
information entails.
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Module 8 discusses secure processing of personal information.
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Module 9 explains the powers of the authorities by whom POPI is
enforced.
Cost
The cost per student is R855 inclusive of VAT. Bulk registration can be
done for groups of ten or more, and bulk discount for groups of 25 or
more.
Industry bodies wishing to negotiate special rates for their members can
contact Elaine Davies of MBSE on 0877026429 or via email to
Elaine@mbse.ac.za.
Click here for more detail on the course content.
Click here
to register.
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Regulatory Examinations |
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Self-Help Guidelines to make a
booking, download your certificate or view results |
Candidates who wrote with Moonstone can now view their results,
make a new booking or update their information on our website:
www.faisexam.co.za
Here is what you do:
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Click on the
Moonstone FAIS Exam website (www.faisexam.co.za)
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Click on the
second heading: “Update Your Booking/Personal Details/Get
results”.
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Key in your ID or
Passport Number used to register for the exam: click on Send
password.
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The system will
send a password to the e-mail address you provided at
registration.
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Use this password
to log in on the same address as above:
Type in the password – do not copy and paste.
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Click login.
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You will then be able to make a booking, download your
certificate or view results.
Frequently Asked RE Questions
- Answers to questions on REs and preparation materials
Email enquiries should be addressed to
faisexam@moonstoneinfo.co.za. You can phone us on
021 883 8000 - select option 2 to speak to one of our
consultants. |
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Careers Platform
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Are you hiring? Advertise your position on Moonstone’s Career Platform
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The Moonstone website -
www.moonstone.co.za
- enjoys an average of 15 000 visits and approximately 39 000 page views per month. |
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Moonstone boasts an exclusive newsletter mailing list of over 48000
dedicated financial decision makers who receive 2 newsletters per week. |
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Our audience is relevant and industry specific: individual and corporate advisors and brokers in the following financial sectors:
iInvestment, Risk, Healthcare, Banking, Retirement, and Insurance. |
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Featured Positions |
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Short Term Commercial
and Domestic Sales Consultant:
Wealth Solutions Capital Insurance Brokers, Bedfordview - We are
looking for dynamic and energetic go getters for short term commercial
and personal lines insurance, as well as for Financial Advisers.
Read More
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Compliance Officer
under Supervision:
Moonstone Compliance, Johannesburg - The role will provide a
practical internship, during which the applicant will receive on the job
training and mentorship in the provision of outsourced compliance and
risk management services to clients in the financial services industry.
Read More
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Financial Advisors:
Odinfin, Irene, Pretoria - We are looking for insurance sales agents
to join our successful team.
Read More
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In Lighter Wyn |
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The hole truth |
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Moonstone Brand Ambassador Shines on Circuit
Oliver Bekker, the man with the Moonstone and Suitebox logo on his golf
bag, netted his third win on this year’s Sunshine circuit when he
won the Sun Wild Coast Challenge by three shots.
Bekker now boasts three Sunshine Tour titles after also winning the
Zambia Sugar Open and the Lombard Insurance Classic earlier this
year. He currently heads the Sunshine circuit Order of Merit.
Well done, Oliver. Keep the flag flying.
The hole truth
Upon arriving home, a husband was met at the door by his sobbing wife.
Tearfully she explained, "It's the pharmacist. He insulted me
terribly this morning on the phone. I had to call multiple times
before he would even answer the phone.”
Immediately, the husband drove down to confront the pharmacist and
demand an apology. Before he could say more than a word or two, the
pharmacist told him, “Now, just a minute, listen to my side of it.”
"This morning the alarm failed to go off, so I was late getting up.
I went without breakfast and hurried out to the car, just to realize
that I’d locked the house with both house and car keys inside and
had to break a window to get my keys.”
“Then, driving a little too fast, I got a speeding ticket.”
Later, when I was about three streets from the store, I got a flat
tyre.”
"When I finally got to the store, a bunch of people were waiting for
me to open up. I got the store opened and started waiting on these
people, all the time the damn phone never stopped ringing.”
He continued, "Then I had to break open a roll of coins against the
cash register drawer to give change, and they spilled all over the
floor. I had to get down on my hands and knees to pick up the coins
and the phone was still ringing.
"When I came up, I cracked my head on the open cash drawer, which
made me stagger back against a showcase with bottles of expensive
perfumes on it. Half of them hit the floor and broke.”
"Meanwhile, the phone is still ringing with no let up, and I finally
got back to answer it. It was your wife. She wanted to know how to
use a rectal thermometer.”
“And believe me, scout’s honour - all I did was tell her.”
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Tel: +27 21 883 8000 | Fax: +27 21 883 8005
info@moonstoneinfo.com
www.moonstone.co.za
P.O. Box 12662, Die Boord, Stellenbosch, 7613, Republic of South Africa
Disclaimer:
Services and products advertised by external product suppliers in
this newsletter are paid for by the respective suppliers. Moonstone
does not endorse any opinions, conclusions, data, products, services
or other information contained in this e-mail which is unrelated to
the official business of Moonstone and furthermore accepts no
liability in respect of the unauthorised use of its e-mail facility
or the sending of e-mail communications for other than strictly
business purposes.
The complete disclaimer can be accessed
here. |
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©2015 Moonstone. All rights reserved. |
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