Episodit
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Behind every piece of great advice is a solid foundation. In this episode of Money, Markets, and Masterminds, Citywire South Africa sits down with Rita Cool, the head of individual consulting strategy and part of the Best Practice division at Alexforbes, to discuss what best practice really means for financial advisers and in the South African context.
From standardising client experiences and preparing for intergenerational wealth transfer to adapting advice for local realities like black tax and traditional marriages, this conversation is a must for advisers aiming to future-proof and standardise their practice. -
In this episode of Money, Markets & Masterminds, Citywire South Africa is joined by Morningstar SA’s head of investment Sean Neethling to unpack the so-called Trump tariff tantrum. With sweeping US tariffs hitting markets globally – and South Africa not spared – we explore what this geopolitical jolt means for investors, asset prices, inflation, and interest rates.
Neethling offers a level-headed analysis of the risks and opportunities emerging from this protectionist pivot, including which sectors and countries are most exposed, why US small caps might still offer value, and how local bonds are holding up under pressure.
Whether you’re feeling fearful or greedy, this episode is your anchor in uncertain waters – full of insights to help you ask the right questions and position portfolios for whatever is next.
Tune in to find out more. -
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In this episode of Money, Markets, and Masterminds, Citywire South Africa sits down with Chantelle Baptiste, portfolio manager and head of equity research at Fairtree, to discuss the biggest financial trends shaping 2025.
With market swings following every Trump statement, growing policy uncertainty, and South Africa’s own economic challenges, how can investors stay ahead? Baptiste shares insights on inflation risks, gold as a safe haven asset, China’s changing role, and practical strategies to protect and grow portfolios in turbulent times.
Join us for a deep dive into market resilience, investment opportunities, and the power of staying nimble. -
With value-added tax (VAT) hikes, rising income tax burdens, and thousands of non-compliant taxpayers, has South Africa’s economy reached its tax tipping point?
In this episode of Money, Markets, and Masterminds, Citywire South Africa and Keith Engel, CEO of the South African Institute of Taxation, break down the true impact of government tax policies. We explore whether the country is pushing past the top of the Laffer Curve, how tax complexity is strangling businesses, and the economy, and why endless hikes might do more harm than good.
Is the government collecting enough—or just wasting more? Engel exposes tax loopholes, compliance failures, and the risks of squeezing businesses too hard. With practical solutions and bold insights, this episode uncovers what needs to change in South Africa’s tax system before it’s too late. -
In this episode of Money, Markets and Masterminds, Citywire South Africa is joined by economist Professor Adrian Saville for the second instalment of the bi-monthly chapter of ‘The Long Game’.
We break down economic principles, challenge political rhetoric and assess US President Donald Trump’s economic policies against real-world data. From tariffs and trade wars to the strength of the US dollar and global growth trends, this discussion offers sharp, data-driven insights for fund selectors, financial advisers, and institutional investors.
Tune in below for expert analysis on how Trump’s tariff policies distort trade, why a weak dollar may hurt rather than help US competitiveness, what market signals like the S&P 500 and policy uncertainty index reveal about his presidency, and where investors can find real growth opportunities in global markets. -
In this episode of Money, Markets and Masterminds, we dive into the ‘Deep Seek effect’ and how this Chinese AI start-up is shaking up investor sentiment and challenging long-held market narratives.
With geopolitical uncertainty, shifting global equity trends and the dominance of US tech under scrutiny, Sean Neethling, head of investments at Morningstar South Africa, joins us to unpack what this means for investors.
Is it time to look beyond the US for opportunities? Will AI disrupt market leadership sooner than expected? And how should investors navigate the growing volatility in global markets?
Tune in below for expert insights to these questions, actionable takeaways and a fresh perspective on the evolving investment landscape -
The US equity market has been a dominant force in global investing for decades, but is it now too concentrated – and too expensive?
In the latest episode of Money, Markets and Masterminds, Citywire South Africa sits down with Anton Eser (pictured below), CIO at 10X Investments, to discuss the state of the US market, the risks of a potential bubble, and what it all means for South African investors.
With nearly 30% of local retirement funds now allocated to US equities, the implications of a market correction could be significant. Eser unpacks the dangers of over-reliance on the Magnificent Seven tech giants, shares historical parallels to past market bubbles, and explains why fund selectors should be looking beyond the US for value.
He also explores the growing appeal of dividend stocks, the role of defensive strategies in an uncertain geopolitical landscape, and why, for the first time in two decades, global fixed income assets might offer a compelling alternative.
Tune in below to hear why the biggest opportunities may lie outside of the world’s most dominant stock market. -
In this episode we sit down with Rudolph Geldenhuys, the 2024 Financial Planning Institute (FPI) Planner of the Year, to discuss his experience competing for the FPI award.
Geldenhuys, who is a senior financial planner at WealthUp, explained the rigorous three-round evaluation process, which tested his financial planning expertise, business acumen and leadership potential.
While technical skills were crucial, he highlighted that strong relationships and mentorship played a key role in his success.
The conversation then shifted to the evolving role of technology in financial planning and we looked to the future, identifying key opportunities for financial planners in South Africa.
Tune in below for a lively discussion on what it takes to stand out in the financial planning industry. -
In this episode of Money, Markets & Masterminds, we continue our Mind Over Markets series in partnership with Morningstar South Africa. I sat down with Michael Dodd, senior fund analyst at Morningstar, to discuss a major shift in South Africa’s equity fund landscape - the reclassification of unit trust categories.
The Association for Savings and Investment South Africa (Asisa) has introduced a classification change, separating SA-only equity funds from general equity funds that include offshore allocations. This development is set to enhance transparency, improve fund comparability, and influence how discretionary fund managers (DFMs) and asset managers structure their portfolios.
Dodd explained why Asisa introduced these category changes and what they mean for fund selection and how increased offshore limits (up to 45%) have influenced fund performance.
Listen to our conversation on how fund managers, DFMs, and retail investors should navigate these changes and what trends will shape SA equity funds going forward. -
In this episode of Money, Markets, and Masterminds, Citywire South Africa sits down with Trevor Garvin, head of multi-management at Nedgroup Investments, to discuss two decades of insights from managing fund of funds unit trusts.
From strategic asset allocation and the rise of passive investing to the impact of liquidity crises and cost-conscious portfolio construction, Garvin has seen it all.
Listen to our conversation where he shares hard-earned lessons on navigating the evolving investment landscape. -
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 piece of work comes from Bloomberg’s John Authers. At the end of each year, he writes an article for his imagined investment firm, Hindsight Capital, which makes fantastically astute decisions because they know – with the benefit of hindsight – what to buy and what to avoid. The fantasy shows just how hard it is to imagine what each year delivers. The second piece of work comes from Cliff Asness, co-founder of AQR Capital Management, who, in a recent article leaps forward a decade, imagining the errors that will become evident in hindsight by 2035.
Drawing on these two works, the episode tackles the futility of prediction and the importance of building resilient investment portfolios from the get-go.
The conversation also delves into current market trends, including risks in the US equity rally, debt challenges with US Treasuries, and China’s economic slowdown and potential parallels with Japan..
Emphasising discipline and preparation, the podcast offers actionable insights to help investors align portfolios with their long-term goals. -
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.
As we leave 2024 behind, with its surprises, market highs and political shifts, we tackle pressing questions:
• Will US equities sustain their stellar performance, or is caution warranted?
• How will global interest rates and inflation shape developed and emerging markets?
• Can South Africa build on the positive momentum from last year’s elections?
Whether you’re a financial adviser, fund selector, or institutional investor, this episode delivers actionable insights, expert analysis and strategic tips to help you navigate the uncertainties of 2025. -
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 financially.
There’s also the question of who truly benefits from economies of scale. Is it the member, or is it the fund sponsor and service providers? And, as the market grows more complex, advisers and consultants face challenges in being able to see through the marketing to provide sound, impartial advice.
To help us unpack these issues, we’re joined by Andrew Crawford, CEO of Seshego Benefit Consulting, an expert in retirement fund solutions and a thought leader who’s been very vocal about the need for greater transparency and accountability in the umbrella fund space. -
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 into asset allocation strategies in a changing political landscape, identifying sectors that may benefit from ‘Trumponomics’ while also considering potential risks. We also highlight the importance of understanding trade policies and their impact on international relations, particularly with China, as well as the implications for South Africa amid its own political challenges.
Listen to the conversation below to find out how these developments influence investment decisions and portfolio construction. -
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. -
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. -
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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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. -
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. -
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. - Näytä enemmän
