Money, Markets and Masterminds

This week, we explore the challenges of market prediction and investment strategies in its latest episode of the new underlying series called the Long Game with Adrian Saville – economist, investor, and academic. The discussion highlights why financial markets resist simple forecasts due to their dynamic and interconnected nature. In this instance, two works are considered by Saville. The first pi...

Welcome to a brand-new year and the latest episode of ‘Money, Markets, and Masterminds’, the Citywire South Africa podcast that unpacks the intricate world of finance and investments. In this episode – our first for 2025 and the eighth in partnership with Morningstar South Africa – I’m joined by Sean Neethling , Morningstar’s head of investments, to gaze into the crystal ball for the year ahead. A...

For many employers, umbrella funds promise simplicity, cost-effectiveness and the benefits of scale. But beneath the surface, there are pressing concerns. Critics have pointed out issues ranging from hidden costs to limited transparency. Employers often focus solely on administration fees, overlooking other significant expenses like investment fees, which can leave their staff worse off financiall...

This episode serves as a year-end analysis, providing insights into how investors can navigate the uncertainties ahead. As markets reacted positively to Donald Trump’s presidential win, with both equity futures and the US dollar rising significantly, questions arise about the sustainability of these trends. Joined again by Sean Neethling, head of investments at Morningstar South Africa, we delve i...

For most of the last three years US markets, led by large-cap growth companies, have surged while other developed and emerging markets have struggled to keep up. As a grouping, emerging markets seem to have lost their lustre and global investors appear more willing to rotate allocations within the US, as opposed to allocating capital outside its borders. The result is that the valuation gap betwee...

In this episode of Money, Markets, and Masterminds we unpack the thinking behind Citywire South Africa’s inaugural Top 50 Adviser list that was released this week. Joining me in studio is Tracy Benjamin, Citywire South Africa’s audience development relationship manager, who shared her insights into the selection process of advisers included in the report. She also discussed how this recognition ca...

In the latest episode of ‘Money, Markets, and Masterminds,’ host Ruan Jooste discusses key highlights from the recent Institute of Retirement Funds Africa (IRFA) conference held in Cape Town, themed ‘Better Together’, bringing together over 1,000 delegates, including retirement fund managers, regulators, and industry experts. Joined by IRFA President Geraldine Fowler, they explore the integration...

In today’s episode, we delve into a topic that might not be the most exciting but is crucial for every one of us — the importance of having a will, as well as the challenges of obtaining a valid one. The Covid-19 pandemic certainly made many people rethink their priorities, revealing just how important it is to have their affairs in order. But as it turns out, more than two-thirds of South African...

There are clear trends abroad, especially in the US where firms like Blackrock and Vanguard have built up industry-leading pools of assets under management by being first movers in a range of passive investment products and exchange traded funds (ETFs), including actively managed ETFs. The local asset management industry looks very different with larger active managers still holding significant ma...

Citywire’s 2024 Alpha Female Report was launched on Monday and revealed a somewhat encouraging stride in gender diversity within the asset management industry, with women now occupying 12.5% of portfolio management roles globally, up from 12.1% last year. The survey also showed, only about 12%, or 22 out of the 190 rated managers with funds domiciled in South Africa, are female. One positive to dr...

In this podcast episode, we delve into the world of responsible investing and discuss Investec Wealth & Investment International’s newly launched ESG and Responsible Investing Guidebook. We explore how this free-to-download educational resource can help trustees, investors, and fund selectors navigate the complexities of integrating environmental, social, and governance (ESG) considerations into t...

In this episode of Money, Markets, and Masterminds we delve into the growing role of discretionary fund managers (DFMs) in the financial advisory landscape. We are joined by Nadir Thokan, senior DFM specialist at Alexforbes, to discuss how DFMs are transforming the industry by providing streamlined portfolio management, research, and compliance support for financial advisers. We explore the benefi...

Nearly two and a half years after the US Federal Reserve (Fed) kicked off a massive increase in interest rates, in a bid to combat surging inflation of course, global bond markets now appears to be heading in a new direction. It is widely believed that the Fed will start cutting interest rates this month at its policy-setting meeting on 18 September. The CME FedWatch tool shows that futures market...

Close to 60% of the funds raised came from international investors, indicating growing interest from global markets in local markets. In this episode of "Money, Markets, and Masterminds," the discussion centres around the recent surge in private equity fundraising activity in South Africa, reaching a 13-year high. The conversation highlights key insights from the South African Venture Capital...

In this episode of "Money, Markets, and Masterminds," Citywire South Africa editor Ruan Jooste is joined by Morningstar South Africa’s Head of Investments, Sean Neethling, to delve into the complexities of investment risk. They discuss the shifting market dynamics, from tech stock volatility to geopolitical tensions, and how investors can navigate these risks with a strategic approach. Sean...

The exponential growth of data availability, the immense computing power now at fund managers’ disposal and the rise of artificial intelligence (AI) is reshaping how institutional and retail investors are approaching investing. To explore these groundbreaking developments in this podcast, we were joined by Chetan Ramlall, the head of quantitative research at 1nvest, a division of Stanlib Sys...

In this compelling episode of ‘Money Markets and Masterminds’, we delve into the complexities of white-collar crime in South Africa: its profound economic impacts, the ongoing struggle to restore investor confidence and the urgent need for a multifaceted approach to address these crimes. Our expert guest Cameron Dunstan-Smith breaks down the crucial legislation aimed at combating corru...

Trusts in South Africa are often misunderstood and mismanaged as if they were legal entities like companies, leading to joint liability for trustees. Family members commonly act as trustees, unlike in other countries where professional trustees, like attorneys, accountants, and financial advisers, predominantly manage trusts. As such independent trustees, who are usually professionals, guide these...

In today’s episode with my guest Adrian Saville, we focussed on the country’s economic attractiveness, driven by compelling yields on government bonds, stabilising inflation and a strategically undervalued rand. We also discussed the critical reforms and infrastructural improvements necessary to stimulate growth and create jobs. Saville (pictured below) also highlighted the specif...

Morningstar South Africa’s Sean Neethling discusses the sentiment shift toward SA assets and what investors should pay attention to amid the government's coalition transition. ‘Welcome to 'Money, Markets, and Masterminds,' - a Citywire South Africa podcast that delves into the intricate world of finance, investment and strategic decision-making.   Today is our second epi...

Welcome to 'Money, Markets, and Masterminds' – a Citywire South Africa podcast – that delves into the intricate world of finance, investment and strategic decision-making.   My guest today is Gareth Stobie, the founder of CoreShares, which has blossomed into a flourishing passive investment management business and ETF issuer. At the point of its acquisition by 10X Investments...

In this podcast interview with Numsa deputy general secretary Mbuso Ngubane (pictured below) at Citywire South Africa’s annual retreat in Fancourt, the union boss emphasised the importance of the working class being more active in the economy and owning the means of production. Numsa is the biggest trade union in South Africa with around 340,000 members. Mbuso is a key member of the executiv...

Today is our first episode of a new underlying series in partnership with Morningstar South Africa and their Head of Investments - Sean Neethling, who was on the show not too long ago. This new series is aptly called: ‘Mind over Markets with Morningstar’ and will provide the latest insights on monthly investment trends. So, for the foreseeable future, the first Monday of every mon...

The two-pot retirement fund system is the most significant reform that the local pension fund industry has seen in recent years. Besides getting a handle on the legal changes — including the Revenue Laws Amendment Bill and the Pension Laws Amendment Bill —each private and public fund will also have to amend its rules to accommodate the new regime.  The Financial Sector Conduc...

In this episode, we delve into the essential topic of default regulations and their impact on investors and retirees. We'll explore the significance of these regulations for investment portfolios, the crucial roles of trustees and financial advisers and the strategic setup of the Investment Policy Statement. Discover how these regulations, implemented in March 2019, guide the provision of default...