Raging Bull Investment Summit raises hopes
JOHANNESBURG – Empowerdex head of research and advisory Nomzamo Xaba hopes the Raging Bull Investment Summit and Awards, to be held in Cape Town, will serve its purpose and not become another talk shop.
She will form part of the panel expected to discuss “the effects of current and future regulation on the investment industry” in South Africa.
The focus will be on how regulation is transforming the industry as well as presenting challenges for asset managers.
Xaba said relevant regulation she would be speaking about included treating customers fairly, regulation 28, the default pension fund regulations, the retail distribution review, and the change-over to the twin peaks regulatory structure.
Businessman Andile Khumalo is expected to moderate the panel discussion.
Speaking to Business Report, Xaba said she would also touch on some of the regulations that had been put in place in recent years. “More importantly, investors need to be sure that they are protected by legislation,” she said, commending legislation that sought to bring more blacks up to speed with investing.
“A lot of our people are not astute investors; they tend to go in blindly, they don’t go into core investments.”
Xaba said she was looking forward to the investment summit, but she warned against it turning into a talk shop, saying: “South Africans are known to be quite good at talking, but not so in implementation.”
She said it would be good for delegates to walk away from the conference having gained information about innovative products that could meet people’s socio-economic needs.
“We have a thriving financial services industry in South Africa, but the industry must be opened up,” Xaba said.
Public Investment Corporation chief executive Dr Daniel “Dan” Matjila will deliver the keynote address at the summit, where financial and investment services industry stakeholders will engage with delegates.
Economists.co.za chief economist Mike Schussler is expected to lead the radical economic transformation session.
Other interesting sessions include one on investing in the Brics bloc and whether investment portfolios should have greater exposure to “our fellow Brics emerging markets. How is economic co-operation among these countries benefiting South African investors?” In August last year, the Brics (Brazil, Russia, India, China, South Africa) bloc of countries officially launched the Africa Regional Centre of the Brics New Development Bank in Sandton.
– BUSINESS REPORT