Having trouble reading this email? View in your web browser
 The Sharenet Daily 
Tuesday, 12 August 2014 - 20:00
Top News
SA Business
Company News
Company Results
World Markets (Spot Prices)
JSE Today
JSE Trading Statistics
Major Moves
Index Summary
Latest Consensus Changes / Results Expected
Recent Dividends / Ex Div
Upcoming AGMs
Stock Exchange News Service (SENS)

Sharenet Securities - smarter investing | online

* Lightening quick order entry and cancelation
* Sophisticated portfolio and share selection tools
* Lowest rates in South Africa: only 0.3% commission

Seed Weekly - Early Withdrawals

Early Withdrawals

In recent years there has been a trend of people staying in their jobs for a much shorter time than previously. This change in behaviour has had an impact on how businesses are run and how employees are remunerated. The remuneration includes employee benefits offered by the company. Fewer employees are offered a pension/provident fund at work and more frequent changes in occupation leads to disruptions in the investment contribution schedule over a person’s career. When this is paired with the ever present temptation to cash in a provident fund when changing jobs, investors are faced with a few potential pitfalls.

The first, and most obvious, pitfall is to not invest anything for a prolonged period when joining an employer that doesn’t offer provident/pension benefits. This is more of a behavioural issue of procrastination that we are all guilty of at some stage in our life. We should take cognisance of this and avoid it by taking ownership of our finances and make the decision to invest on our own without too many delays. Delaying your decision to invest can have an adverse effect on your eventual investment value as you miss out on compounding growth which, over long periods, becomes material in your investment plan.

A further pitfall is making withdrawals, before retirement, from your pension/provident fund benefits. This is an activity many partake in and is particularly harmful to a person’s long term prosperity. A very simple illustration of this point (it speaks more to the younger generation but remains relevant all age groups) is shown in the below graph. The example should serve as a reminder of how material small investment withdrawals can be over longer periods, keep in mind that many 50 year old investors can still easily have a 30 year + horizon awaiting them.

The graph below shows that a withdrawal of R 100 000 from a fictional 35 year old could effectively be worth (in today’s currency) an estimated R 400 000 at 65 assuming the capital is invested in a balanced fund and allowing some room for error. This is in real terms, meaning the value of money in the graph doesn’t depreciate with inflation over time. If inflation is added to the calculation the R 400 000 is much higher (approximately R 2.2m).

Taking into account the above, and the opportunity cost suffered by individuals who delay the decision to invest, it is time to review what your options are pre-retirement.

The most responsible option available to you would be to either preserve the benefit or to transfer your benefit to your new employer’s scheme. Off the bat there is no way to determine whether it is in your best interest to preserve or transfer without more details pertaining to the fees and investment options available.

A very viable option is to preserve the benefit through either a preservation fund or a retirement annuity. The benefits of either will differ depending on your circumstances and it is recommended that you speak to your adviser before making a decision. Investors generally prefer this route to transferring the benefit to a new company as the preserver option in most cases allows for more flexibility in terms of the investment choices available.

Kind regards,

Stefan Keeve

021 914 4966

Tue, 12 Aug 2014
Top News
South Africa's rand eased slightly against the dollar on Tuesday with investors looking ahead to domestic economic indicators and geo-political developments abroad in search of direction.  Full story

South African stocks faltered on Tuesday in line with their peers up north after a gauge of economic sentiment in Europe's biggest economy hit its lowest since December 2012, reflecting the impact of the Ukraine crisis.  Full story
A Russian convoy of trucks carrying tonnes of humanitarian aid left on Tuesday for eastern Ukraine, where government forces are closing in on pro-Russian rebels, but Kiev said it would not allow the vehicles to cross onto its territory.  Full story
Talks to end a month-long war between Israel and Gaza militants are "difficult", Palestinian delegates said on Tuesday, while Israeli officials said no progress had been made so far and fighting could soon resume.  Full story
Saudi Arabia told Israel on Tuesday that it must reach a peace agreement with the Palestinians if it is to survive as a nation, and criticised Muslims for being divided and failing to stop the Jewish state attacking its Arab neighbours.  Full story
Brent crude oil hit a 13-month low on Tuesday as ample North American production outweighed concern over supply from the Middle East, while. . .  Full story
German shares led declines in European stocks on Tuesday as weak sentiment data and a gloomy outlook from consumer goods group Henkel provided. . .  Full story
U.S. stocks fell modestly on Tuesday as uncertainty continued to swirl around the tense situation in Ukraine, even as many investors bet that. . .  Full story
Britain's top shares were pegged back on Tuesday by tension between the West and Russia over Ukraine, although robust results lifted insurance and. . .  Full story

Gold prices edged higher on Tuesday, supported after two days of declines by signs that the stand-off between Russia and Ukraine was hurting. . .  Full story
U.S. stocks opened down slightly as uncertainty continued to swirl around the situation in Ukraine, with energy shares leading the decline on the. . .  Full story
Hong Kong's benchmark share index reversed midday losses and finished higher on Tuesday, as strength in two leading technology firms outweighed weakness among financial. . .  Full story
China shares edged lower on Tuesday, as cautious investors awaited more July data for fresh clues on how well the world's second largest. . .  Full story
SA Business
South Korean car manufacturer Hyundai Motor Co. has started production at its first assembly plant in South Africa, initially building medium-sized commercial trucks, a company spokesman said on Tuesday.. . .  Full story

A year ago, U.S. President Barack Obama sought to mobilize the nation behind a grand plan: fight climate change by slashing carbon pollution at home, while prodding other countries to follow.. . .  Full story
With the threat of further Western economic sanctions hanging over Russia, foreign investors are deserting Moscow's equity markets and funnelling cash into other BRICS states, with China a standout beneficiary.. . .  Full story
World Markets (Spot Prices)
NameTimeRPMove% Move
JSE Overall17:0651449.01-74.26-0.14%
JSE Top 4017:0046288.21-89.28-0.19%
JSE Gold17:001549.62-9.30-0.60%
JSE Financial17:0637820.06160.120.43%
JSE Industrial17:0067049.20-40.16-0.06%
JSE Indust 2517:0059235.00-46.62-0.08%
JSE Resource17:0059261.81-430.91-0.72%
DJ Futures08/0812167.88252.760.00%
DJ Ind20:0016546.48-23.50-0.14%
SP 50020:001932.29-4.63-0.24%
FTSE 10017:356632.42-.40-0.01%
All Ords08:385523.1073.701.35%
NZSE 5007:485055.816.180.12%
NameTimeRPMove% Move
Gold $19:591309.531.650.13%
Gold R19:5913916.2423.440.17%
Gold R/kg20:0044741110600.24%
Silver $19:5919.9490-.0500-0.25%
Platinum $19:591468.704.800.33%
Palladium $19:59875.032.400.28%
Brent Crude20:00103.18-1.50-1.43%
Rand / Dollar19:5910.62690.00460.04%
Rand / Pound19:5517.84240.03850.22%
Rand / Euro19:5514.2078-0.0129-0.09%
Rand / NZD19:598.9663-0.0204-0.23%
Rand / AUD19:559.85840.01160.12%
Yen / Dollar19:59102.22800.04000.04%
Euro / Dollar19:590.74810.00090.12%
Dollar / Euro19:591.3368-0.0017-0.12%
Pound / Dollar19:550.5945-0.0009-0.15%

Click here for the Sharenet Spot Price page
The JSE Today

Trading Statistics
* Includes all listed instruments on the JSE
Major Moves Up
SharenameSaleMove% MoveVolume
1 PUTPROP  90015020.00.%12560
2 MMG  155017412.65.%41934
3 MERAFE  1421310.08.%15845723
4 OANDO  197179.44.%6200
5 GOLIATH  165138.55.%839
6 FAIRVEST  140107.69.%250000
7 ASCENDIS  1550855.80.%25078
8 SANTAM  211259354.63.%84073
9 TELKOM  56312063.80.%1386312
10 AFRO-C  458163.62.%12937
11 ADCOCK  52001703.38.%2496584
12 METAIR  37051153.20.%87254
13 WBHO  129103943.15.%60233
14 SASFIN  51001503.03.%14563
15 PSG-KST  700202.94.%144552
16 JASCO  10532.94.%85123
17 ROLFES  360102.86.%17240
18 SYNERGY-B  730202.82.%161000
19 DCENTRIX  385102.67.%6500
20 CURRO  2689692.63.%62216

Click here for more Major Moves...
Major Moves Down
SharenameSaleMove% MoveVolume
1 METMAR  112-8-6.67.%72397
2 HOWDEN  4256-233-5.19.%12725
3 BOWCALF  760-40-5.00.%171
4 ADVHLTH  193-10-5.00.%321962
5 INTEWASTE  141-7-4.73.%6926
6 CMH  1111-49-4.22.%41000
7 LONMIN  3934-166-4.05.%906877
8 TORRE  250-10-3.85.%100482
9 KEATON   271-9-3.21.%7378
10 METROFILE  470-15-3.09.%1041840
11 EFFICIENT  320-10-3.03.%100000
12 CASHBIL  12933-399-3.00.%4672
13 NET1UEPS  11650-350-2.92.%10066
14 OCEANA  8350-250-2.91.%50390
15 POYNTING  301-9-2.90.%15739
16 AFRIMAT  1539-46-2.90.%9747
17 ATLATSA  365-10-2.67.%7120
18 MPACT  3090-80-2.52.%44530
19 NAMPAK  4195-105-2.44.%888466
20 CAPITEC  21570-530-2.40.%367328

Click here for more Major Moves...

New Highs
SharenameSaleHighMove% MoveVolume
1 PUTPROP  90090015020.00.%12560
2 ASCENDIS  15501550855.80.%25078
3 TELKOM  563156752063.80.%1386312
4 GRANPRADE  691691162.37.%905369
5 NASPERSN  1416191421289200.65.%793930
6 MEDCLIN  88828963120.14.%632321
7 MTN  2345023670-39-0.17.%3588701
8 CIL  31453326-29-0.91.%216373
9 NAMPAK  41954339-105-2.44.%888466

Click here for more Major Moves...
New Lows
SharenameSaleLowMove% MoveVolume
1 LONMIN  39343901-166-4.05.%906877

Click here for more Major Moves...

Index Summary
Index NameRPMove% Move
Top 4046,288.21-89.28-0.19%
Mid Cap65,692.9785.540.13%
Small Cap54,596.4918.460.03%
Resource 2059,261.81-430.91-0.72%
Industrial 2559,235.00-46.62-0.08%
Financial 1514,649.5460.810.42%
Financial & Ind. 3063,130.3530.960.05%
All Share51,449.01-74.26-0.14%
Oil & Gas 46,502.02-31.78-0.07%
Mining 35,258.34-314.81-0.88%
Gold Mining1,549.62-9.30-0.60%
Platinum Mining46.97-.46-0.97%
GENERAL MINING10,322.33-99.71-0.96%
Oil & Gas Producers 25,003.28-17.09-0.07%
Basic Materials 31,000.31-278.30-0.89%
Chemicals 24,100.30-71.63-0.30%
Forestry & Paper 31,538.73-417.89-1.31%
Industrial Metals 19,717.99-13.76-0.07%
Industrials 46,687.9634.390.07%
General Industrials 150.23-.26-0.17%
Consumer Goods 59,390.97-122.40-0.21%
Automobiles & Parts 8,389.82260.413.20%
Household Goods358.92-4-1.23%
Health Care 86,422.71-215.72-0.25%
Beverages 194.67.780.40%
Index NameRPMove% Move
Food Producers 79,035.55-168.68-0.21%
Personal Goods 1,010.25-5.39-0.53%
Consumer Services 13,096.8237.770.29%
General Retailers 67,199.35-38.84-0.06%
Travel & Leisure 5,726.6013.790.24%
Media 308.981.980.64%
Support Services 2,714.85-32.28-1.18%
Telecommunications 11,200.713.710.03%
Financials 37,820.06160.120.43%
Banks 68,117.742.930.00%
Non-life Insurance 53,915.662386.324.63%
Life Insurance 35,251.45149.360.43%
General Financial 3,605.1550.231.41%
Technology 44,556.74-21.04-0.05%
SHARIAH TOP40 4,379.67-30-0.67%
FTSE/JSE SHARIAH ALL4,511.97-25-0.55%
COAL MINING19,166.173601.92%
FTSE JSE Fledgling 6,748.97310.47%
FTSE/JSE Alt X 1,231.1490.77%
RESOURCE 32,327.96-239-0.73%
DIVIDEND PLUS225.4210.26%
FTSE/JSE RAFI 4010,159.90-21-0.21%
Capped Top 4024,522.16-44-0.18%
Capped All Share26,050.58-36-0.14%
JSE TABACO 7,869.35-40-0.51%

Click here for the Sharenet Index Summary page
Latest Consensus Changes**
CodeCompany NameStatusUpdated
Results Expected**
ExpectedCompany NameFin. Date
13/08/2014GROUP 5June 2014 (Final)
13/08/2014RESGENJune 2014 (Final)
14/08/2014ATLATSAJune 2014 (Interim)
14/08/2014HARMONYJune 2014 (Final)
14/08/2014HARMONY-PJune 2014 (Final)

Recent Dividends**
Share NameDec-DateLDTPay-DateAmount
ARROWB11/08/1429/08/1408/09/14ZAR 0.1712
ARROWA11/08/1429/08/1408/09/14ZAR 0.1712
OCTODEC08/08/1422/08/1417/11/14ZAR 0.8684
PREMIUM08/08/1422/08/1417/11/14ZAR 0.8070
LIB-HOLD08/08/1429/08/1408/09/14ZAR 2.3200
Ex Div**
Share NameDec-DateLDTPay-DateAmount
IMPL CONV04/08/1408/08/1421/08/14ZAR 250.0000
KUMBA22/07/1408/08/1418/08/14ZAR 15.6100
HUDACO27/06/1408/08/1418/08/14ZAR 1.5500
TOWER24/07/1408/08/1418/08/14ZAR 0.4160
NIVEUS27/06/1408/08/1418/08/14ZAR 0.2800

Upcoming AGMs**
CodeCompany NameDateStatus
SOVSovereign Food Investments Ltd.12/08/2014Confirmed
MMLMetmar Ltd.12/08/2014Confirmed
MMLPMetmar Ltd.12/08/2014Confirmed
ANDPAndulela Investment Holdings Ltd.13/08/2014Confirmed
ANDAndulela Investment Holdings Ltd.13/08/2014Confirmed

Stock Exchange News Service
12/08/201417:01CAPEVIN HOLDINGS LIMITED - Trading Statement
12/08/201417:00INVESTEC LIMITED - Additional Listing - Investec PLC
12/08/201416:30INVESTEC LIMITED - Transactions in Investec PLC Ordinary Shares
12/08/201416:22FORTRESS INCOME FUND LIMITED - Tax treatment of income distribution
12/08/201416:20FORTRESS INCOME FUND LIMITED - Preliminary summarised audited consolidated finan...
12/08/201415:49NEDBANK LIMITED - Credit Event Notice - NCLN65, NCLN67
12/08/201415:45WORKFORCE HOLDINGS LIMITED - Trading Statement
12/08/201414:55ABSA BANK LIMITED - ASN028 - Credit Event Notice and Notice of Publicly Availabl...
12/08/201414:45ABSA BANK LIMITED - ACL142 - Credit Event Notice and Notice of Publicly Availabl...
12/08/201414:35ABSA BANK LIMITED - ACL143 - Credit Event Notice and Notice of Publicly Availabl...
12/08/201414:26ABSA BANK LIMITED - ACL180 - Credit Event Notice and Notice of Publicly Availabl...
12/08/201414:20GROWTHPOINT PROPERTIES LIMITED - GRT05-Interest Rate Reset
12/08/201414:18ABSA BANK LIMITED - ACL181 - Credit Event Notice and Notice of Publicly Availabl...
12/08/201414:15SOVEREIGN FOOD INVESTMENTS LIMITED - Results of Annual General Meeting
12/08/201414:15ROCKCASTLE GLOBAL REAL EST CO LTD - Availability of summarised audited consolida...
12/08/201414:09ABSA BANK LIMITED - ACL213 - Credit Event Notice and Notice of Publicly Availabl...
12/08/201414:00ROCKCASTLE GLOBAL REAL EST CO LTD - Summarised audited consolidated financial st...
12/08/201414:00REDEFINE PROPERTIES LIMITED - Acquisition of the Macsteel property portfolio and...
12/08/201413:59WESIZWE PLATINUM LIMITED - Changes to the Board of Directors
12/08/201413:45AFRICAN DAWN CAPITAL LIMITED - Changes To The Composition Of The Social And Ethi...
12/08/201413:40SANTAM LIMITED - Trading Statement
12/08/201413:12ABSA BANK LIMITED - ACL082-ACL141-Interest Rate Resets
12/08/201412:00STEINHOFF SERVICES LIMITED - Early redemption of UTR40, UTR42 AND UTR43 notes (t...
12/08/201411:35iMPUMELELO CP NOTE PROGRAMME 1 (RF) Ltd - IM1001-New Listing of iMpumelelo CP NO...
12/08/201411:15WOOLWORTHS HOLDINGS LIMITED - Announcement by Country Road Group regarding chang...
12/08/201410:31BIOSCIENCE BRANDS LIMITED - Extension of return date and further cautionary anno...
12/08/201410:20PUTPROP LIMITED - Trading statement
12/08/201410:00ROYAL BAFOKENG PLATINUM LIMITED - Dealing in Securities by an Executive Director
12/08/201409:53SENTULA MINING LIMITED - Notification in terms of section 122(3) of the Companie...
12/08/201409:52ABSA BANK LIMITED - ACL203-Interest Rate Reset
12/08/201409:44WESCOAL HOLDINGS LIMITED - Company Secretary dealings in securities
12/08/201409:35RESOURCE GENERATION LIMITED - Consolidated Financial Statements for the year end...
12/08/201409:10SAFARI INVESTMENTS (RSA) LTD - Dealing in Safari Investments RSA Limited securit...
12/08/201408:01DISTELL GROUP LIMITED - Trading statement
12/08/201408:00CLOVER INDUSTRIES LIMITED - Notification in terms of Section 122(3) of the Compa...
12/08/201407:30MERAFE RESOURCES LIMITED - Reviewed interim results for the six months ended 30 ...

Click here for more SENS news