Episodes

  • Developments in emerging markets

    Developments in emerging markets
    Nov 4 2024
    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 between the US and emerging markets is widening, as broader developing regions haven’t seen the level of flows to support sustained investment performance.

    Some of the big questions looming are whether investors will continue to shun emerging markets, or if lower valuations and recent stimulus measures introduced by China will see these markets rally? Are there other countries or regions that we should be looking at? And do these locations have a place in investor portfolios?

    We had Sean Neethling – the head of investments at Morningstar SA – back in the studio to provide us with some of the answers to these questions.
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    20 mins
  • Decoding the Top 50 Advisers list and how advisers made the cut

    Decoding the Top 50 Advisers list and how advisers made the cut
    Oct 31 2024
    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 can enhance the careers of advisers across the country.

    We also touched on what was included in the questionnaire and some of the overarching themes that emerged from advisers’ submissions.
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    10 mins
  • The many challenges faced by administrators under the two-pot system

    The many challenges faced by administrators under the two-pot system
    Oct 11 2024
    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 of private sector initiatives with regulatory frameworks, insights from global best practices, and future trends in retirement funding influenced by technology and demographics. They also address challenges faced by retirement fund administrators since the implementation of the Two-Pot System and the ongoing issue of unpaid pension contributions by employers.
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    19 mins
  • With wills in the digital age, there is not always 'a way'

    With wills in the digital age, there is not always 'a way'
    Sep 30 2024
    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 Africans still don’t have a will, according to available statistics.

    As the Law Society’s annual wills month comes to an end, we explore why that’s the case, the technicalities and technological challenges in obtaining a valid will and around the preservation of digital assets, with Chris Murphy, vice-chairperson of the Fiduciary Institute of Southern Africa (Fisa) and founder director of Legacy Fiduciary Services and Estate Planners.
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    15 mins
  • SA ETF fees remain elevated relative to our global peers

    SA ETF fees remain elevated relative to our global peers
    Sep 27 2024
    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 market share and passive incumbents seemingly struggling to gain any significant portion of that share. The result is that, while the trend is moving in the right direction, fees in South Africa remain elevated relative to our global peers.

    This was one of the key takeaways from recent Morningstar South Africa research in a review of retail share class fees across different unit trust categories according to the Association of Savings and Investment SA (Asisa).

    The good news is that South African investors saw fund management fees declining last year. The average asset-weighted total expense ratio (TER) for active funds was 1.17%, while the same fee on passive funds was 0.57%. That being said, the costs are still substantially higher than tracker options in other markets.

    But what does this mean for current and future investment prospects? Listen to our conversation with Sean Neethling (pictured above), head of investments at Morningstar South Africa, on some of the significant developments in the passive and active asset manager universe.
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    17 mins
  • Alpha Female Report: Gender parity in portfolio management remains elusive

    Alpha Female Report: Gender parity in portfolio management remains elusive
    Sep 20 2024
    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 draw from the report is that the overall numbers are going in the right direction, but a lot more needs to be done. Now in its ninth year, the report draws on Citywire’s database of just over 18,100 individual money managers around the world, including South Africa.

    I invited my colleague and the co-author of this year's Alpha Female report, Nicola Blackburn, on the show today, all the way from our head office in London, to talk us through some of the other major trends revealed in the report. She is Citywire's chief reporter in the UK, covering investments for a British intermediary audience.
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    19 mins
  • Responsible investing is much more than just picking companies that claim to be green

    Responsible investing is much more than just picking companies that claim to be green
    Sep 10 2024
    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 their investment strategies.

    ESG is no longer a niche strategy; it has entered the mainstream as businesses and institutions are increasingly expected to be responsible stewards of the planet and its people. However, this shift comes with its challenges, especially when it comes to managing money and aligning investment returns with institutional values.

    We asked Barry Shamley (pictured below), portfolio manager of the Investec BCI Dynamic Equity fund and co-manager of the Investec Global Sustainable Equity fund at Investec Investment Management to help us examine his approach of incorporating ESG into his investment strategies and what questions should be posed to issuers to enable long-term success and sustainability.

    We also explore the trends shaping the future of ESG investing and the challenges faced by trustees, investors, and fund managers in adapting to this rapidly evolving landscape.
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    17 mins
  • Why DFMs are geared to support advisers, not replace them

    Why DFMs are geared to support advisers, not replace them
    Sep 6 2024
    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 benefits for advisers in outsourcing investment decisions, the challenges surrounding transparency and fees and how DFMs complement financial advisers rather than replace them. Given South Africa’s rapidly growing DFM market, we also discuss how best practices and international trends, particularly from the UK, can help ensure sustainable growth for the industry.

    Advisers who want to learn more can listen to our conversation below
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    21 mins