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Monday, 23 May 2011 - 20:00
Sharenet is pleased to announce the launch of our new publication, The Sharenet Daily. We have built on the success of our Daily Equity Report, while adding more content and helpful information. The result is a publication that gives readers a quick, easy to read and informative synopsis of market activity, company results and news on the JSE for the day, as well as an overview of what transpired on important overseas markets.The Sharenet Daily includes helpful charts that give a graphical impression of events, and our news content is sourced from a number of contributors, including Reuters. In addition, Sharenet's popular price information is available in our Spot Price format which provides a snapshot of the JSE and world indices, currencies and commodities.
All the JSE trading statistics; major movers; latest dividends; upcoming AGM dates and more are provided to insure that you keep abreast of market developments. The Sharenet Daily is published at 8pm each day on the website and also distributed via email for your convenience. As always, we welcome your comments, feedback and suggestions at support@sharenet.co.za
Charts
More on the latest ETF
We discussed ETF's – exchange traded funds – last week. Today the JSE announced that approval has been granted for the listing of another variation in the ETF theme. NewFunds Collective Investment Scheme, operated by Absa Capital, which is behind the popular Newgold fund, has now also launched their new MAPPS brand.
ETF’s are gaining in popularity which may start to be self-defeating for the general public. What started off as fairly straightforward will soon see a plethora of variation and choice and hence increased complexity.
MAPPS stands for Multi-Asset Passive Portfolio Solutions. The idea has been to create a fund which can attract pension fund money. All pension investments, including retirement annuity funds must comply with the so-called regulation 28 of the Pension Fund Act.
This regulation states inter alia that a fund must have at all times a maximum of 75% invested into shares.
Their 2 funds will be the MAPPS Protect and the MAPPS Growth. The Protect portfolio will invest into underlying securities in the following ratio:
• 40% into shares that are included into the Swix 40 index
• 15% into government issued nominal bonds
• 35% into government issued inflation linked bonds
• 10% into liquid assets (money market)
While the aim is to provide investment results that will match the price and yield of this composite portfolio, the unit trust cannot guarantee this. The name “protect” may be unfortunate because there does not appear to be any specific downside protection.
According to Newfund's back testing of the fund from January 2006 to March 2006, the fund would have lost 25%.
The MAPPS Growth will access the same underlying components, but in a different ratio. This portfolio will run at the maximum allowable exposure to listed shares, i.e. 75%. The ratios will be:
• 75% into shares included in the SWIX 40 index
• 10% into government issued bonds
• 10% into government issued inflation linked bonds
• 5% into liquid assets (money market)
The Swix 40 index is the shareholder weighted total return index. It ranks shares by market capitalisation, but adjusts for the free float, therefore reducing the weighting for foreign shareholding, cross holdings and strategic holdings.
The fees start at 1%, dropping to 0,8% for investments from R1m to R5million.
While the funds will be traded on the JSE, the net asset value will be published daily.
This together with a market maker will ensure that the traded price will always be close to the sum of the underlying investments.
A fund such as this provides a ready and available benchmark for all pension funds. It definitely enhances the available options available to investors.
A few seats remaining
For investors in Cape Town wanting to join our investment presentation in the Southern Suburbs on the 7th June, please mail Myrna on Myrna@seedinvestments.co.za
Kind regards
Ian de Lange
info@seedinvestments.co.za
www.seedinvestments.co.za
021 9144 966
Top News
![[IMAGE]](image.php@width=300&height=150&cropratio=2%253A1&image=http%253A%252F%252Fwww.sharenet.co.za%252Fimages%252Fprofile%252Frainbow_chickens.gif) Revenue increased slightly to R6.96 billion (R6.95 billion). Operating profit rose to R534.38 million (R519.69 million). Net attributable profit improved to R368.02 million (R355.51 million). In addition, headline earnings per share grew to 127.1cps (120.4cps). (Rainbow's financial year-end Full story ![[IMAGE]](image.php@width=300&height=150&cropratio=2%253A1&image=%252Fnewsimages%252F2011-05-23T114006Z_01_AJOE74M0WEX00_RTROPTP_3_OZABS-SAFRICA-RAND-20110523.JPG "A BANK TELLER LOOKS AT 50 AND 100 SOUTH AFRICAN RAND NOTES.") South Africa's rand extended losses against the dollar to more than 1.7 percent on Monday, largely tracking a weaker euro, as investors pulled away from risky assets in general. Full story |
 Troops recaptured a Pakistani naval air force base on Monday after a 16-hour battle with as few as six Taliban gunmen who had launched their attack to avenge the killing of Osama bin Laden. Full story  Britain said flights could be disrupted from parts of the country on Tuesday by an ash cloud billowing from an Icelandic volcano, but said it did not expect a repeat of last year's travel chaos. Full story  U.S. President Barack Obama sipped a pint of stout and cuddled babies on Monday as a tiny Irish village on Monday welcomed home "a long lost cousin" with an outpouring of affection. Full story |
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Markets |
A wave of fear that Europe's
debt problems are spreading out of control hammered markets on
Monday, knocking the euro to its lowest. . . Full story |
U.S. stocks fell on Monday,
with major indexes falling more than 1 percent, on concerns
about the euro-zone debt crisis and a slowdown. . . Full story |
European shares hit a five-week
closing low on Monday as a cut in credit ratings for Greece and
a "negative" outlook for Italy. . . Full story |
The price of gold climbed to
its highest level in nearly two weeks on Monday after a raft of
unsettling news on indebted. . . Full story | |||
Renewed concerns about the euro
zone debt crisis triggered a steep sell-off of Britain's top
shares on Monday, led by commodity stocks, with. . . Full story |
European shares fell on Monday
on renewed worries about the euro zone's debt crisis, gloomy
macroeconomic data and the emergence of a new. . . Full story |
Hong Kong shares slid more
than 2 percent on Monday to the lowest since March after the
benchmark broke below the 200-day moving. . . Full story |
Australian stocks fell almost 2
percent to an 8-week closing low on Monday as major banks took a
hit on concerns their borrowing. . . Full story | ||||
SA Business |
South Africa's power utility Eskom said on Monday it has restarted construction work at its Medupi power plant after protests by. . . Full story |
South Africa's Top-40 index fell 2 percent on Monday, as investors fled riskier assets on worries about the euro zone debt. . . Full story |
South Africa's rand weakened 1 percent against the dollar in early Monday trade, largely responding to a softer euro, and government. . . Full story |
South African Pioneer Food Group posted a sharp rise in first-half profit on Monday and said it sees a tough trading. . . Full story | |||
South African diversified
miner Exxaro bid $130 million in cash for Australia's Territory
Resources, making a pricey wager to expand into iron ore. . . Full story | South African furniture retailer Lewis plans to increase store numbers by a fifth in the next two to three years in. . . Full story | South Africa's maize stocks fell to 2.385 million tonnes at the end of April compared with a revised 3.261 million tonnes. . . Full story | African Bank Investments, South Africa's biggest mass-market lender, reported a 20 percent increase in first-half profit on Monday, in line with. . . Full story |
Company News |
Shareholders were advised that Wescoal has entered into negotiations, which if successfully concluded, may have an effect on the price of. . . Full story |
The board of directors of AdaptIT hereby notifies its shareholders that Mr Patrick C M September who served as an independent. . . Full story |
The company hereby advises that Mr Roy McAlpine, on the attainment of his 70th birthday, has intimated to the ARM board. . . Full story |
In the 18 February 2011 circular to Mvela Resources shareholders, Mvela Resources informed its shareholders of the proposed unbundling and distribution. . . Full story | |||
Merchant and Marshall Monteagle Plc ("Marshall")announced that, Marshall has submitted to the board of directors of Merchant ("the Merchant board") notice. . . Full story |
Keaton shareholders are advised that a circular has been posted setting out the relevant information relating to:
*the authority to be. . . Full story |
Vukile reported a 26.2% increase in net profit available for distribution for the full year to 31 March 2011 to R408.1. . . Full story |
According to Business Day, Africa Cellular Towers is optimistic that its turnaround strategy will return it to profitability over the next. . . Full story | ||||
Company Results | Interest income on advances improved to R3.4 billion (R2.9 billion) and profit from operations increased to R1.7 billion (R1.3 billion).. . . Full story | Revenue rose to R4.6 billion (R4.1 billion). Operating profit increased to 1.1 billion (R907.2 million) and net profit attributable to ordinary. . . Full story | Revenue increased to R8.3 billion (R8 billion) and gross profit was stable at around R2.6 billion (R2.6 billion). Operating profit improved. . . Full story | Group revenue increased by 11% to R1.9 billion from R1.7 billion. Operating profit improved 16% to R358 million (R308 million), while. . . Full story |
World Markets (Spot Prices)
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Click here for the Sharenet Spot Price page
The JSE Today
Trading Statistics| Date | Adv. | Decl. | Unch. | Actives | Volume | Value | Trades | Orders |
|---|---|---|---|---|---|---|---|---|
| 23/05/2011 | 93 | 264 | 68 | 425 | 319,312,210 | R12,244,638,663 | 98127 | 1770518 |
| 20/05/2011 | 142 | 181 | 76 | 399 | 303,323,807 | R12,622,485,079 | 103784 | 1955353 |
| 19/05/2011 | 193 | 127 | 90 | 410 | 262,007,068 | R11,069,387,714 | 87617 | 1985181 |
| 17/05/2011 | 127 | 213 | 75 | 415 | 313,772,839 | R13,420,246,840 | 104943 | 2189249 |
| 16/05/2011 | 154 | 162 | 83 | 399 | 240,222,858 | R10,809,816,699 | 88615 | 2006548 |
Major Moves Up
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Major Moves Down
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Index Summary
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Latest Consensus Changes**
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Results Expected**
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Recent Dividends**
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Stock Exchange News Service
| Date | Time | Headline |
| 23/05/2011 | 17:13 | MIP/MMP - Merchant/Marshall - Correction on JSE Code and ISIN |
| 23/05/2011 | 17:10 | Rainbow Chicken Limited - Reviewed abridged interim results for the twelve |
| 23/05/2011 | 17:00 | Command Holdings Limited - Results of General Meeting; and withdrawal of |
| 23/05/2011 | 16:35 | Shoprite Holdings Limited - Dealing in securities by a non-executive |
| 23/05/2011 | 16:31 | Wescoal - Cautionary announcement |
| 23/05/2011 | 16:30 | Netcare Limited - Dealings in securities by director |
| 23/05/2011 | 16:25 | Old Mutual Plc - Form 8.3 |
| 23/05/2011 | 16:05 | FPTIVB - Investec Warrants - Adustment to exercise price on Fountainhead |
| 23/05/2011 | 15:40 | Sappi - Sappi begins consultation process on possible closure of Adamas |
| 23/05/2011 | 15:38 | Exxaro Resources Limited - Trading of Exxaro ordinary shares on behalf of |
| 23/05/2011 | 15:30 | British American Tobacco p.l.c - Notification of transactions by |
| 23/05/2011 | 15:12 | Mazor Group Limited - Changes to the board of directors |
| 23/05/2011 | 15:08 | ADAPTIT Holdings Limited - Change to the board of directors |
| 23/05/2011 | 15:07 | ARM - Retirement of director |
| 23/05/2011 | 15:07 | MAPPSP - Newfunds MAPPS Protect ETF Portfolio - Listing of Newfunds MAPPS |
| 23/05/2011 | 15:06 | MAPPSG - Newfunds Mapps Growth ETF Portfolio - Listing of Newfunds Mapps |
| 23/05/2011 | 15:05 | Mvelaphanda Resources Limited - Apportionment ratio of Northam |
| 23/05/2011 | 14:30 | MSS/MMP - Merchant and Industrial Properties Limited/Marshall Monteagle Plc - |
| 23/05/2011 | 14:30 | Keaton Energy Holdings Limited - Circular to shareholders |
| 23/05/2011 | 14:25 | The Bidvest Group Limited - Results of the general meeting to approve |
| 23/05/2011 | 13:51 | SA French Limited - Finalisation announcement in respect of the rights |
| 23/05/2011 | 13:35 | The Bidvest Group Limited - Directors` dealings in securities |
| 23/05/2011 | 13:03 | Woolworths Holdings Limited - Dealing in securities by directors and Group |
| 23/05/2011 | 13:02 | Woolworths Holdings Limited - Purchase of shares by the company in terms |
| 23/05/2011 | 12:58 | Massmart Holdings Limited - Trading of Massmart ordinary shares on behalf |
| 23/05/2011 | 12:16 | Vukile Property Fund - Increases Annual Distribution By 9% |
| 23/05/2011 | 12:15 | Vukile Property Fund Limited - Audited condensed results and distribution |
| 23/05/2011 | 11:37 | IFA Hotels & Resorts Limited - Cautionary announcement |
| 23/05/2011 | 11:35 | Resilient Property Income Fund Limited - Dealing in securities |
| 23/05/2011 | 11:16 | Imuniti Holdings Limited - Amendment to terms of specific issue of shares |
| 23/05/2011 | 11:09 | RDFIVC - Investec - Adjustment to exercise price on Redefine Income Fund Limited |
| 23/05/2011 | 11:07 | RDFIVB - INVESTEC - Adjustment to exercise price on Redefine Income Fund Limited |
| 23/05/2011 | 08:51 | Capital Property Fund - Dealing in securities |
| 23/05/2011 | 08:49 | Eastern Platinum Limited - Adopts new shareholder rights plan |
| 23/05/2011 | 08:00 | SACOIL Holdings Limited - Corporate Update |
| 23/05/2011 | 08:00 | GLD - NewGold Issuer Limited - Partial de-listing of Newgold debentures |
| 23/05/2011 | 07:45 | Trencor Limited - Textainer News Release |
| 23/05/2011 | 07:30 | Lonrho Plc - Placing of up to 118,000,000 new ordinary shares of the |
| 23/05/2011 | 07:10 | Exxaro Resources Limited - Exxaro cash offer to territory Resources |
| 23/05/2011 | 07:10 | British American Tobacco p.l.c - Transaction in own shares |
| 23/05/2011 | 07:05 | BHP Billiton Plc - Transaction in shares |
| 23/05/2011 | 07:05 | Super Group Limited - Trading statement |
| 23/05/2011 | 07:05 | Verimark - Summarised audited group financial results for the year ended |
| 23/05/2011 | 07:05 | Lewis Group Limited - Final audited results for the year ended |
| 23/05/2011 | 07:05 | Pioneer Food Group Limited - Unaudited condensed consolidated interim |
| 23/05/2011 | 07:05 | Reunert Limited - Reunert Limited announces the appointment of financial |
| 23/05/2011 | 07:05 | Famous Brands Limited - Audited results for the year ended 28 February |
| 23/05/2011 | 07:05 | ABL/ABLP - African Bank Investments Limited - Unaudited interim results and |
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