CLICK HERE FOR THE LATEST BIZNEWS BUSINESS BRIEFING (on iTunes) – Heystek on Peche Performance Fee bombshell; Elon gets a trump card vs Twitter; Richemont ties up with Portugal’s Steve Jobs; Oil back over $100. (Click here for Spotify)
LATEST ON BIZNEWS.COM:
- Financial insider Peche drops ‘nuclear bomb’ on SA performance fee rip-off
- Backtracking on cadre deployment: Ramaphosa missed his Kennedy moon shot moment
- John Steenhuisen on the precipice of enormous change – lays down the coalition gauntlet
- Six months of war in Ukraine: knock-on effects mount
- Fatal flaw in NHI: most public health facilities won’t even qualify for NHI accreditation
- Anarchy in South Africa threatens economic growth
- Solidarity opposes Act proposing amended racial targets
- Structured notes: Their returns are not too good to be true and why it is important to pick the right bank
- The WSJ’s overdue condemnation of the failed Covid response doesn’t restore its journalistic integrity
- Water: The underrated therapy for anxiety and stress (Premium)
- Premium: BN portfolio review – investors are rewarded for homework AND resilience (Premium)
NB: Getting this newsletter second hand? Click here for your own copy. It’s free and takes under a minute.
Sean Peche drops nuclear bomb on overfed SA asset managers
London-based Sean Peche tells me one of the first people he met after arriving in SA yesterday was a gent who congratulated him on our recent interview about Balanced Fund unit trusts charging big fees for pathetic performance.
Sean told his new associate to “watch this space” – and within hours we’d published a story he describes as a “Nuclear Bomb” compared with the balanced Funds “Scud Missile”. There are so many shocking conclusions into his investigation into SA unit trust Performance Fees that best you watch the recording (click here) or have a listen (click here).
And don’t just take my word for it. Shortly after the already gone-viral video had been published on YouTube, independent financial advisor Magnus Heystek dropped me an email to say “it must rank as one of the most compelling financial exposés I’ve seen in many years, if not decades.”
Sean is in SA ahead of delivering a keynote address at the BizNews Conference in the Drakensberg next week. If you’d like to shake the hand of a man determined to put billions back into the pockets of SA savers, there are still ways to get into the event. Click here to register your interest.
To receive the Daily Insider every weekday at 6am in your inbox click here. You can also sign up to the weekend’s BizNews Digest for a wrap of the best content BizNews has to offer, for a leisurely Saturday read.
