SOUTH AFRICA - Watson Wyatt has completed its acquisition of a 20% stake in consulting firm Fifth Quadrant, as revealed exclusively by Global Pensions in December ( www.globalpensions.com , 3 December 2007).
SOUTH AFRICA - Asset managers in South Africa have been given more flexibility to invest overseas, as the offshore allowance for pension funds was raised to 20% in the 2008 Budget.
SOUTH AFRICA - South Africa's more than R1trn (US$130bn) institutional pension system suffers from service providers' conflicts of interest, inadequately educated pension fund trustees and an insufficient distinction between the financial interest of...
SOUTH AFRICA - Experts have warned the government has been "dragging its feet" on pension reform and the 2010 deadline will not be met.
Watson Wyatt has taken a initial 20% stake in South African consultancy, Fifth Quadrant, in its fourth major deal of the year.
SOUTH AFRICA - The national treasury is said to be expecting a backlash against legislation that has forced companies to refund pension fund surpluses which had been misused, according to reports.
SOUTH AFRICA - The Financial Services Board (FSB) has appointed its first black, female pension fund adjudicator.
SOUTH AFRICA - The state pension fund manager rejected a R25bn (US$3.5bn) bid by Bain Capital for the retailer Edgars Consolidated Stores Ltd, in which it controls 3%.
SOUTH AFRICA - The government and Transnet have been told they could face a R8bn (US$1.1bn) legal battle over 75 million shares held in the shipping company's ailing pension scheme.
SOUTH AFRICA - A senior executive of Alexander Forbes, the service provider which recently escaped corruption charges, has been criticised for advice given to two South African municipal pension funds whilst working as an actuary for NBC Employee Benefits....
SOUTH AFRICA - The establishment of a mandatory state pension fund in South Africa is unlikely to translate into new business for asset managers.
SOUTH AFRICA - Finance minister Trevor Manuel has urged South African trade unions and employers to get involved in discussions on the proposed compulsory social security pension scheme and retirement fund reforms.
SOUTH AFRICA - Sanlam Investment Management (SIM) has stated the Public Investment Corporation's (PIC) withdrawal of ZAR22bn (US$3.1bn) in assets from the fund manager would not have a material impact on its operating results and claimed it would claw...
SOUTH AFRICA - A consortium involving the Ontario Teachers' Pension Plan (OTPP) has had a purchase offer of ZAR6bn (US$850m) accepted by South African glass manufacturer Consol.
SOUTH AFRICA - State-owned pension manager Public Investment Corporation (PIC) has announced plans to withdraw one quarter of its assets - valued at ZAR146bn (US$20.5bn) - from five fund managers to invest in-house.
SOUTH AFRICA - More than half of 15-year olds won't live to the claim their pensions due to the rampant HIV/AIDS epidemic in South Africa, a report has found.
SOUTH AFRICA - Old Mutual's funds under management increased by 1.8% to reach ZAR222bn (US$31.1bn) by end September 2006, as the financial services group's profits were hampered by a weak rand and US dollar.
SOUTH AFRICA/UK - Alexander Forbes shrugged off the recent bulking scandal to grow its global assets under management to ZAR135bn (US$18.7bn) for the six months ended 30 September, well above the ZAR107bn reported in the same period last year.
SOUTH AFRICA - Specific reforms of South African pension fund legislation are to be implemented "without further delay," the National Treasury of South Africa announced.
SOUTH AFRICA - A consortium of investors including the Ontario Teachers Pension Plan (OTPP) and Caisse de depot et placement du Quebec have made a ZAR8.3bn (US$1.1bn) offer for Alexander Forbes.
SOUTH AFRICA - The C$96bn Ontario Teachers' Pension Plan (OTPP) was among the nine failed bidders for the V&A waterfront, a prime section of real estate situated in Cape Town.
SOUTH AFRICA - The Financial Services Board (FSB) has confirmed at least two more arrests would be made this week in the high-profile pension fraud case involving businessman Peter Ghavalas.