Amidst a highly dynamic international and local environment, we are pleased to bring to you the Orion Investment Managers Global […] The post OIM Global Review appeared first on Ian Kilbride.

CADIZ BCI MONEY MARKET FUND The Cadiz Money Market Fund continues to deliver on its mandate by consistently providing returns that outperform cash. The fund remains strategically positioned to take advantage of elevated interest rates, effectively reinvesting proceeds from maturing investments. Managed within its prescribed mandate constraints, the fund is consistently outperforming its benchmark, the Alexander Forbes Short Term Fixed Interest (SteFI) composite index. Additionally, it diligently ensures the maintenance of adequate liquidity levels while keeping volatility of returns low.  CADIZ BCI ENHANCED INCOME FUND The fund saw a diverse range of assets driving positive returns. Floating-rate notes took the lead, significantly contributing to the overall positive performance. Nominal bonds also played a crucial role, further boosting returns for the month. Despite their relatively small exposure, money market instruments contributed positively, while inflation-linked bonds had a negative impact on the monthly return.  The fund achieved positive returns for the month, maintaining its long-standing track record of delivering low volatility returns and focusing on growing wealth while limiting downside risks. Trading activities implemented during the month were driven by cash flows and reinvestment strategies, aligning with the fund’s objective of prudent portfolio management.  CADIZ BCI ABSOLUTE YIELD FUND The fund benefitted […] The post Fund News – June 2024 appeared first on Ian Kilbride.

Adrian Meager, Orion Investment Managers Managing Director and Chief Investment Officer explains. The local market trended firmer, up by 2.1% for the month, led by resources, with the sector up by over 7% for the month. This was followed by financials, up by 0.5% for the month, industrials up by 1%, and the property sector down by 2.3%. Some of the top performing shares were Naspers and Prosus, up by 6.7% and 7.4% respectively, predominantly on the back of a strong Tencent performance, which was up by 14% for the month in a strong China market. On the resources side, BHP group pulled lower by 3.4% for the month after its hostile bid for Anglo American was rebuffed, with the latter up 32.6% on the back of the offer. Capitec was also up 11% for the month. March headline CPI printed softer at 5.3% YoY compared to the February print of 5.6% YoY, while core CPI, which excludes food and energy, dropped to 4.9% YoY from the previous reading of 5.0% YoY in February, thus bringing it closer to the SA Reserve Bank’s 4.5% midpoint of its 3-6% target band. Retail sales decreased 0.8% YoY in February, on the back […] The post Local markets review appeared first on Ian Kilbride.

Explained by Chief Operating Officer, Ryan Magee A question that we are asked regularly following South Africa’s addition to the FATF grey listing, is what progress have we made to get off it? To answer this question, it’s important to revisit what exactly grey listing is and why South Africa was grey listed. First, what is FATF and its grey list? The Financial Action Task Force abbreviated as FATF, is a global inter-governmental body that promotes policies and sets international standards relating to the combating of money laundering, terrorist financing, and the financing of the proliferation of weapons of mass destruction. Why was South Africa grey listed? South Africa did poorly in its 2021 mutual evaluation, which was actually conducted in2019 when many institutions (especially law enforcement agencies) were at their weakest following state capture. While no country is fully compliant with all 40 FATF recommendations and all 11 effective immediate outcomes, South Africa was deemed to have too many weaknesses in its legal framework and was deemed to be inadequately compliant with 20 of FATF’s recommendations in all 11 effectiveness immediate outcomes. Consequently, South Africa was put under a one-year observation period in October 2021, giving the country time […] The post South Africa’s grey listing and prospects for upliftment appeared first on Ian Kilbride.

This edition of the Spirit Foundation Full Circle celebrates our thirty years of achievements and we trust you will enjoy sharing these good news stories as much as we have in making them. The post Spirit Foundation Full Circle – April appeared first on Ian Kilbride.

Dear Warwick valued clients and partners, as we head into the 2024 election season, we extend a warm welcome to […] The post Warwick Wealth Matters – March appeared first on Ian Kilbride.

The post A Simpler, Stronger, Financial Sector OMBUD System appeared first on Ian Kilbride.

Warwick Wealth has selected Appleton to provide specialist fiduciary services to its valued clients. This month, Appleton Managing Director, Lauren […] The post Wills and Estates appeared first on Ian Kilbride.

International markets review Despite the slowing Chinese economy and the implosion of its property market, continued geopolitical tensions in Middle […] The post Insights Into The Complex Local And International Markets appeared first on Ian Kilbride.

Managing Director, Marc Wiese. As we launch into 2024, it gives me great pleasure to write to you, our valued clients, to wish you well for the new year, express my gratitude for your continued support and share some exciting updates from Warwick Wealth. May this year bring you success, good health, and moments of joy with your loved ones. In the spirit of continuous improvement, I am pleased to announce that Warwick Wealth is committed to enhancing our services and offerings to you in 2024. Our dedicated team has been hard at work, exploring innovative investment ideas, refining our strategies and solidifying several investment advisor partnerships, with the goal of staying ahead of market trends to ensure that we continue to meet and exceed your expectations. As we look forward to 2024, the global expectation is for several important economies to startlowering interest rates, as inflation is brought under control by the actions of the relevant central banks and monetary policy committees. Notably too, when interest rates are on a downward trend, it often has significant implicationsfor equity markets. Here is a brief overview of what we could expect and the underlying reasons: Equity Market Rally Falling interest rates […] The post Discussing prospects for the year ahead appeared first on Ian Kilbride.

The Annual Spirit Education Foundation Registration Day and Award Ceremony was held on the 2 December 2023 at Wynberg Girls High School. The purpose of the ceremony is to acknowledge the achievements of our scholars. Awards were presented to students who demonstrated outstanding performance, dedication to their studies, and a commitment to excellence. The ceremony served as a platform to celebrate their hard work and accomplishments. It is also an important starting point for new scholars to be welcomed into the organisation in 2024. Beyond academic success, the ceremony also recognised students for their contributions to extracurricular activities, community service and leadership. We believe in nurturing well-rounded individuals who will not only excel academically, but also make meaningful contributions to society. It is an event for the scholars, their families and the community to come together and celebrate. The atmosphere was filled with pride and a sense of unity, creating lasting memories for everyone involved. An award that everyone looks out for is the ambassador and Chairmans award. It is awarded to scholars who have shown exceptional growth, leadership development, have overcome challenges and gone above the normal call of duty to be an ambassador for the organisation. The ambassador […] The post Spirit Education Foundation Registration Day appeared first on Ian Kilbride.

Locally, we followed our international counter parts lower, with the ALSI falling 3.8% in October.The industrial sector ended the month lower by 4.7%, followed by property, down by 4.4%, resources by 4.3% and financials 3.1%. Prosus traded lower by 5.9%, Naspers by 3.8% Glencore by almost 9%, BHP by 2%, whereas ANB InBev rose by 1.2%. On the economics front, September headline inflation rose to 5.4% YoY on the back of higher energy, food and non-alcoholic beverages prices, all registering higher annual rates in September. Core CPI, excluding food and energy printed at 4.5% YoY in September vs the previous reading of 4.8% YoY in August. Retail sales fell by 0.5%, on the back of downwardly revised 1% YoY drop in July as South African consumers remain under pressure. We looking forward to providing you with an overview of the 2023 markets in the December edition of the Warwick Wealth Matters. The post Local Market Review appeared first on Ian Kilbride.

For this edition of Full Circle, we celebrate the growth of SEF. As previously shared, SEF was our first venture into philanthropic giving over 29 years ago. The demand for scholarships and participation in our mentorship programme provides us with continued motivation to make a difference in every scholar’s life. Below we share some of the highlights of our first part of the year. VOICE At the beginning of this year, Spirit Education Foundation welcomed to our programme 140 scholars in total across all grades. Our new scholarships increased by 18 above our normal intake of 20 scholars per year. In 2023, the mentorship programme theme follows the curated acronym VOICE, which stands for Values, Opportunities, Inclusivity, Choice, and Excellence. Throughout the year, all mentorship moments will reflect on scholars’ voices, what they use them for, how they use them and how they can facilitate inclusion through listening to other voices. Each school visit, milkshake moment and individual tutoring session evaluates at least one of the five letters elevating the voices of our scholars through connection and relationship building. Alumni In 2023 we said goodbye to 22 Grade 12 students who received their NSC results and we are proud that […] The post Full Circle: Spirit Education Foundation appeared first on Ian Kilbride.

In our previous report, I made mention of the importance of thinking big and starting small and hope that many of you have been spurred to action since then. In this edition, I share updates and encouragement in our core areasof service, education, community engagement and wildlife. As the Spirit Foundation we recognise and acknowledge that our work, together with our partners, remains unfinished, but are determined to make a lasting impact on the lives of those most in need. These profound words have been at the heart of our mission since our organisation’s inception. Education is the cornerstone of empowerment, and through our dedicated efforts, we have witnessed countless lives transformed. From the eager faces of children in classrooms to the determined parents and guardians embarking on new educational journeys, our commitment to education has created ripples of change throughout our community. Our Spirit Education Foundation (SEF) team has worked tirelessly to provide access to quality learning opportunities. We have striven to bridge the gap between privilege and disadvantage, ensuring that every child, regardless of theirbackground, has the chance to dream, learn and grow. This year, we expanded our scholarship programme, growing from 122 scholars to 140 in 2023, […] The post Full Circle: Managing Director’s Review And Preview appeared first on Ian Kilbride.

Most international markets in June continued the trend started in May as the threat of a US government default was safely avoided. The Federal Reserve’s pause in rate rises, after 10 consecutive hikes, also added to positive market sentiment. The United States markets continued to be driven by the large tech counters as the interest in the Artificial Intelligence aspect of the market continues to drive the hype. Both the Nasdaq and S&P showed significant gains. The S&P closed the month higher by 6.5%, while the Nasdaq ended the month up 6.6%. In contrast, the Dow Jones lagged the other two indices, only rising by 4.6% for the month. On the economics front, data pointed to a resilient US economy, despite the higher rate environment, allaying fears of a US recession. Headline inflation for May came in lower than expected at 4.0% YoY vs the previous reading of 4.9% in April. Core CPI, which excludes the volatile energy and food components, declined to 5.3% YoY for May vs the April reading of 5.5%. A figure we quote regularly in our column, personal consumption expenditure (PCE), the Fed’s preferred inflation gauge, cooled to 0.1% MoM in May vs the reading 0.4% […] The post International Markets appeared first on Ian Kilbride.

Orion Investment Managers Managing Director and Chief Investment Officer, Adrian Meager, provides an overview of the latest South African financial market developments. The local market mirrored most of the international markets by trending weaker as the continued sell-off in local shares, exacerbated by the increasing financial cost of higher levels of rolling blackouts, together with the continued uncertainty around the government’s avowed ‘neutral’ stance on Russia, weighed heavily on sentiment. The Financial Sector was hardest hit, ending the month down by 8.2%, followed by the Property Sector, down 6.2%, Industrials down by 3.1%, and Resources down by 2.2%. Share performance was also a mixed bag as BHP rose by 1.1%, Prosus was down by 5.4%, and Naspers declined by 8.7%, and Anheuser Busch weaker by 11.8%. Transaction Capital tanked during the month, initially down 43% on the back of looking for new funding as the taxi business came under pressure, with the counter losing a further 35% after reporting a loss of R1.86bn, vs the profit if R618m ln the previous year, resulting in a total share price loss of around 79% for the year to date. On the economic front, April Headline inflation (CPI) slowed to 6.8% YoY, from […] The post Orion Investment Managers View on the South African Financial Markets appeared first on Ian Kilbride.

Cadiz Asset Management Managing Director and Chief Investment Officer, Sidney McKinnon, provides an update and overview of the fixed income environment. South African capital markets once again came under pressure during May as the nation’s political ties with Russia are scrutinised and investors weigh up sanction risks. The SARB raised the reference interest rate by 50 basis points (bps) at the monetary policy committee meeting held in May. The hike was in line with expectations, but did little to appease the currency market as the Rand experienced a historic bout of weakness, reaching the weakest ever level against the US dollar. Global investors once again had to contend with major central bank tightening monetary conditions in efforts to contain the still elevated inflationary environment. Among these was the US Federal Reserve who delivered its 10th consecutive rate increase, lifting rates by a further 25bps. Additionally, market participants had to contend with risks relating to the US approaching its debt ceiling, meaning the US treasury would not be able to borrow more money in order to fund the government’s financial commitments. This threat was thwarted, however, by Congress passing a debt ceiling deal just in the nick of time. Given the […] The post Fixed Income Review – The Important News  appeared first on Ian Kilbride.

The Fiduciary Institute of South Africa Recently Published this Interesting Court Case The plaintiff (F) claimed the return of a 2016 model BMX X5, as well as damages resulting from breach of the purchase and sale agreement between them by the defendant (G). F’s case was that G purchased the BMW and that a proper purchase and sale agreement was concluded, complying with the provisions of the National Credit Act, 34 of 2005, specifically section 129(1)(a). The purchase price of more than R1.5m was to be paid in 72 instalments of over R17,000 per month, with a balloon payment at the end. Despite the vehicle having been delivered, G later stopped paying the monthly instalments. G’s defence was that he never entered into the agreement which was signed online or electronically, and that the agreement did not comply with the provisions of section 13 of the Electronic Communications and Transactions Act, 25 of 2002 (ECTA). G alleged that his (now deceased) brother-in-law, A, abused his personal details and ID document to conclude the agreement with F. In evidence two witnesses testified on behalf of F and both insisted that the processes they followed leaves no room for any misunderstanding or any […] The post The Validity of Electronic Signatures appeared first on Ian Kilbride.