Author Archives
In the Investment News
New CEO for Momentum
MMI Holdings, the financial services company born from the merger of Metropolitan and Momentum, has announced the appointment of Mark van der Watt as the new CEO of Momentum Retail, one of the group’s six operating divisions.
Immediate Payment Option on Momentum Wealth
When a withdrawal request relating to a voluntary investment in a local daily dealing fund is made, Momentum Wealth has the capacity to make an immediate payment to the investor. In this manner investors enjoy quick access to their funds.
Due to the increase in our cost of funding the fee for an immediate payment is 0.15% of the withdrawal amount, with a minimum fee of R100 per payment. This is effective from 23 January 2012.
Direct Share offering: New additions to the Direct Share offering
At Momentum Wealth we continuously strive to expand our offering by including unique and diverse investment components.
Trust Assets Not Protected – Recent Case Law
In times of economic downturn will your trust be able to do what it was designed for? In a recent case (FNB v Britz – 20 July 2011) it was held that trust assets could be attached by creditors.
Fund Focus: Momentum Small/Mid Cap Fund
Awards:
- Raging Bull Awards: Top Outright Performers 2008, 2009, 2010: Category: Best Domestic Equity Smaller Companies Fund
- Morningstar Award in “South African Small Cap Equity” category 2009, 2010
- Morningstar Award for “Best Fund in Sector” in the “Domestic Equity Smaller Companies” sector for 2008
Investo Volatility Protector – You just can’t beat it
The Volatility Protector guarantees, in a simple and cost effective way, that your maturity value will not be lower than 100% of the highest investment value achieved on any contribution allocation date during the current savings term.
Click here for the not-so small print
Is your clients Trust going to stand up in court?
Many trusts were established in recent years as part of an estate planning exercise. It seems that a new era in trust law is daunting upon us, namely the focus of our courts on the maintenance of a trust. So often a trust is established, but because of a change in personal circumstances the purpose of establishing the trust becomes no longer valid. Think of an instance where an estate planner gets divorced and wish to amend the trust deed by appointing a new spouse as a beneficiary of the trust. If some legalities are overlooked, it may frustrate the intention of the estate planner. A recent Supreme Court of Appeal (SCA) case delivered on 30 September 2011 dealt with such a matter. (Potgieter vs Potgieter (629/2010) [2011] ZASCA 181).
Buy & Sell Structures: from a maze to AMAZING
Written by Jacqui van Marcke (BA LLB LLM(Tax) CFP) – Legal Business Development Manager
Standard buy and sell structures are fairly simple to implement and generally fit the same mould. However, as our clients’ have different financial needs and goals we cannot always panel beat these standard structures to suit these needs. This means that we sometimes find ourselves trapped in a maze of confusion with very little or no sense of financial planning direction; let alone the sense to come up with an appropriate solution.
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