Issue: December 2012 / February 2013
Editorials

FIRST WORD

Institutional investors, committed to CRISA, will need to decide how they’ll vote at the shareholder meetings of mining houses afflicted by the Marikana disaster. Will they support managements, or won’t they? Will they explain why they vote as they do, or won’t they? Read more...


PENSIONS & SAVINGS REFORM

National Treasury has produced a raft of discussion papers: on better retirement income; preservation, portability and governance; non-retirement savings, and improved tax incentives. The widest possible consultation is required. Let it begin. Read more...


UMBRELLA FUNDS

Not only is the number of retirement funds likely to consolidate, but the number of administrators for standalone funds is likely to shrink as well. Trustees will have to make calls on the best options still available. Read more...


FUND ADVICE

Spotlight on consultants: what they do, how to use them, and ways to test the value they profess to add. A panel answers a variety of trustees’ top-of-mind questions. Read more...


CURRENTS

Marikana was a close call on pension withdrawals; Issues in the Rocklands curatorship; Payment peculiarity arises from four Adjudicator determinations; FSB recourse and training changes in Financial Services bill. Read more...


COVER STORY

Attempts to encourage household savings are fraught at the best of times. In the present socio-economic climate, they’ll be even more so. And as if that weren’t hard enough, there are far too many mixed signals coming from government further to complicate things. Read more...


TRUSTEE TRAINING

There’s a long way to go. The latest FSB annual report shows it. While the regulator is getting more serious than ever, envisaging sticks in trustee appointments, an open question is whether there’re carrots that will encourage trustees to comply in sufficient numbers. Read more...


RESPONSIBLE INVESTMENT 1

Consider the hard issues. Two experts discuss the need for investors to integrate ESG criteria into their decision-making, and how it will help to promote not only the sustainability of investee companies but also the social good. Read more...


RESPONSIBLE INVESTMENT 2

The hard issues in practice. Surveys show how slowly ESG integration is taking place. Asset managers must apply proper resources and adjust their mindsets for the appropriate “culture” to take hold. Otherwise, it’s lip service. Read more...


PASSIVE INVESTMENT

An international authority puts the case. He looks at history, relative costs, and the futility of attempts to beat the market over the long term. Read more...


ACTIVE MANAGEMENT

A local authority responds. Alpha is still needed, he argues, and attempts to cut fees can be self-defeating. Read more...


GRAVY

Cosatu’s Vavi ignites emotion on pensions preservation. Read more...


Expert Opinions