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SANLAM VOTESanlam policyholders eligible to vote on the insurer's demutualisation proposal have only four days left to return their voting forms, unless they are attending the special general meeting. Forms must reach Sanlam by no later than 11:00 on Thursday morning. The demutualisation will proceed only if at least 75% of members who vote, do so in favour. PIE IN THE SKY? Not shy in its optimism is Gensec Asset Management, predicting a 2% cut in interest rates this year and another 4% cut next year. (We're holding thumbs!) At a presentation in Cape Town this week, Gensec said we have seen the high in the interest rate cycle and the low in the equity cycle. CHICKEN RUN Money received a stern letter from the Reserve Bank this week, taking us to task for our story of September 20, "Hey, let your money do the chicken run for you". The story may have given the impression that overseas travellers can take their R100 000 annual travel allowance and leave the unused portion on foreign shores. The Bank says you are obliged to resell your unused allowance to your local forex dealer forthwith. Who would even think of not obliging, we ask.
HIGHER TAKE Sanlam Unit Trusts has increased the minimum investment amounts for its money market fund from R2 000 to R5 000 for a lump sum, and from R200 to R500 for monthly payment.
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