PSG Konsult Robertson

18/06/2013

PSG, through our registered insurance brokers and PSG's short term insurance company Western National Insurance Company Limited, offer a full range of tailor...

18/06/2013

Markoorsig Junie 2013

Die afverkoop van die rand teenoor meeste van die wêreld se groot geldeenhede was die oorheersende nuus in die plaaslike mark die afgelope maand. Die groot vraag is egter of jy nou teen ʼn wisselkoers van R10 per VSA dollar fondse in die buiteland moet begin belê, of liewers nog wag?

Aan die een kant meen tegniese analiste dat die afverkoop van die rand die afgelope maand oordoen of te vinnig was. Aan die ander kant is daar ekonome wat sê dat die stadige, maar tog waarneembare verbetering in die Amerikaanse ekonomie tot ʼn herstel van rentekoerse tot meer normale vlakke aanleiding kan gee – iets wat negatief vir opkomende markte is en hul geldeenhede onder druk sal plaas.

Benewens dit alles, moet ons ook kennis neem van die gevaar van ʼn wisselkoersoorlog ("currency war") wat in die wêreld kan uitbreek. Die Japannese yen het sedert November 2012 reeds met 38% teen oor die VSA dollar verswak. Dit kan aanleiding gee tot ʼn skerp styging in Japanse aandelepryse. Die makro ekonomiese gevolge van so ʼn verswakte geldeenheid is dat Japanse uitvoerprodukte aansienlik meer mededingend relatief tot Amerikaanse en Europese produkte sal word. Die gevaar bestaan dat Amerika en Europa aktief stappe kan neem om hulle geldeenhede teenoor die yen te verswak om sodoende hulle streke weer meer mededingend te maak.

Dit kan ook wees dat die wêreld se groot geldeenhede teen ʼn alternatiewe geldeenheid verswak wat byvoorbeeld goudverwant is soos die rand en die Kanadese dollar. Van die opsies hierbo genoem, lyk hierdie vir my die onwaarskynlikste op die stadium.
Die waarskynlikste scenario is een waar die Euro teen die ander geldeenhede verswak en dat inflasie sodoende ʼn faktor word om die wêreld se koopkrag te ondermyn.

Intussen het die rand spesifieke winde van voor wat kan verhoed dat die rand netjies by van die bogenoemde scenario's inpas. Suid-Afrika het twee groot tekorte, ʼn begrotingstekort en ʼn tekort op sy betalingsbalans en wat beide groter is as internasionale aanvaarbare norme. Beide die tekorte vereis dat die buiteland Suid-Afrikaanse bates moet aankoop om die tekorte te befonds. Opsigself is die twee tekorte nie ʼn groot probleem nie, maar sou enige iets in die land skeef loop gaan die tekorte veral vir buitelanders `n negatiewe faktor word. Dit kan veroorsaak dat buitelanders ophou om Suid-Afrikaanse bates te koop, of selfs begin om dit te verkoop iets wat in beide gevalle `n baie negatiewe impak op die rand sal hê.

Hier kan veral na gebeure in die verlede gekyk word wat al ʼn negatiewe uitwerking op die rand gehad het:

• Die Eskom beurtkrag-episode in 2008
• Die stakings in die landbousektor van die Wes-Kaap
• Die gewelddadige mynboustakings, en
• Die aankondiging van swakker as verwagte ekonomiese groei.

Ter opsomming:
Die rand kan verder verswak as enige iets in Suid-Afrika skeefloop. Alles ander gelyksynde is die rand oor die korttermyn dalk oorverkoop, maar as die rand tot onder die vlak van R9.60 teen die dollar verstewig, kan dit as ʼn goeie geleentheid gesien word om nog beleggings in die buiteland te doen. Soos wat dit is, is ons van mening dat aandele in die ontwikkelde ekonomieë tans aantreklik geprys is.

Dawie Klopper
PSG Beleggingsekonoom

03/05/2013

WHAT IS A RETIREMENT ANNUITY?

A retirement annuity is merely a private pension plan. Retirement annuities were first introduced in South Africa in 1960 and were designed to enable self-employed people to qualify for the same tax treatment and deductions as those employees who were provided for by their employers by way of provident or pension funds. See more: http://bit.ly/10PuuC3

03/05/2013

WHAT IS AN ENDOWMENT POLICY?

An endowment policy is a contract with a life insurance company whereby the insurer agrees to pay a benefit in return for a monthly or lump sum premium. Find out more here: http://bit.ly/16HxtBA

Original image taken from: http://bit.ly/XyA2Wd

03/05/2013

Wanneer sal die versekering besluit om my voertuig af te skryf?25MarchVraag:Ek wil net graag weet as die voertuig jou R70 000.00 rand gekos het en jy het al die Turbo vervang wat jou R27 000.00 gekos het en sy boekie waarde is R34 000.00 rand en om die voertuig nou reg te maak kos dit jou R50 000.00...

03/05/2013

PSG KONSULT ACHIEVES CREDIBLE RESULTS AMIDST RESTRUCTURING

PSG Konsult, the independent financial services provider, posted positive results for the financial year ending February 2013 amidst a comprehensive restructuring process and a new focus for its underlying business units.

To establish the company as a fully-fledged financial services group, the underlying business units were partitioned in three focus areas effective from 1 March, consisting of PSG Wealth, PSG Asset Management and PSG Insure to respectively reflect the company’s wealth management, asset management and short-term insurance divisions.

As part of this process, PSG Konsult will in future do business simply as “PSG.” This is to simplify branding, lever off the equity in the brand and align with the colloquial language in which the public already refer to the group only as PSG.

Recurring headline earnings increased by 15,3% to R174,4 million for the period under review, whilst the recurring headline earnings per share increased by 9,2% to 15,4 cents.

A final dividend of 7,3 cents was declared, to bring the total for the year to 10,8 cents (2012: 10,3 cents). Given the prospects for growth, the final dividend was kept the same as in the previous year.

The restructuring follows the joining of PSG Konsult by Francois Gouws as deputy CEO about a year ago. Gouws will take over the reins as CEO from Willem Theron on 1 July, while Theron will assume the role as chairman. The current chairman, Jaap Du Toit will stay on as non-executive director. Theron’s retirement as CEO coincides with PSG Konsult’s 15th anniversary, which was established on 1 July 1998.

Announcing the results, Theron said the results can be regarded as positive. “Growth in the group’s traditional financial advice business was maintained during the year. We believe that personal service supplemented by electronic platforms and trading will in future unlock more value. Further attention will be given to strengthen and enhance this process.

“Synergies are currently more evident in the asset management business, while the strategy to have a larger share in the value chain is bearing fruit.

“On the short-term insurance side our underwriting profits were somewhat under pressure, in line with the rest of the industry. With our new strategy we will focus strongly on commercial insurance, where we have identified a number of positive prospects. The group believe it is the right approach to follow,” Theron said.
Theron said that while positive market sentiment was experienced during the period under review, there are some concerns regarding the local economy, as was evident from the labour issues in the mining and agriculture sectors experienced last year.

While the American economy is showing signs of recovery, Europe is still presenting a problem. South Africa is part of the global economy and we are affected by it. It remains important for clients to diversify their assets with international exposure.

End

Issued by MediaVision on behalf of PSG Konsult

03/05/2013