Cash BoxMANUEL'S SIN
The finance minister's proposed levy on your demutualisation windfall was passed by Parliament this week. The tax of 2.5% will be levied on the free reserves - the amount which is to be distributed to policyholders in the form of free shares - of Sanlam and Old Mutual.
Syfrets Private Bank has launched a lending service for high net worth individuals. The loan facility is available by phone.
Handsome returns can be made by buying shares in a company about to merge or restructure. Liberty International Asset Management Jersey is opening their Alpha Class Fund to local investors. They say it can be compared to an event-driven hedge fund (the investment process is based on publicly announced merger and acquisition activity). The minimum investment is a R10 000 lump sum or R200 monthly.
The third tranche of Fedsure Life's Guaranteed Equity Series closes on June 26. This product offers a 100% capital guarantee and invests in the US S&P 500 index and the UK FTSE 100 index. The minimum investment is R20 000 over a term of five years.