Offshore 30% cap effectively lifted

[zerocool2009]

Well, to the guys who jump and did it, Sygnia went through with the requests.

I have a friend who did it! A smart move without a doubt!

Lets hope this get fully approved!

“I want to invest 100% abroad”!!!!

 

[RandomGeek]

Well, to the guys who jump and did it, Sygnia went through with the requests.

I have a friend who did it! A smart move without a doubt!

Lets hope this get fully approved!

“I want to invest 100% abroad”!!!!

Speaking of Sygnia, I had a Preservation withdrawal request that was completed within a week. Very efficient service

 

[zerocool2009]

Speaking of Sygnia, I had a Preservation withdrawal request that was completed within a week. Very efficient service

They are really on the ball to say the least!

 

[sandwitch]

Wasn't this still on hold?

 

[zerocool2009]

Wasn't this still on hold?

If you switched within the 48 when it was breaking news... Sygnia honored the request.

I checked their Reg28 calculator, its all reverted (as in “before”)

So they guys who switched : you are lucky!

#MagdaForPresident!

Sadly its on hold (for now)! Think the Unit Trust firms made massive waves!

 

[R13...]

If you switched within the 48 when it was breaking news... Sygnia honored the request.

I checked their Reg28 calculator, its all reverted (as in “before”)

So they guys who switched : you are lucky!

#MagdaForPresident!

Sadly its on hold (for now)! Think the Unit Trust firms made massive waves!

Yeah apparently a bunch of the big ones lobbied furiously to have the amendment withdrawn. Sygnia named them on the money show the other day.

 

[zerocool2009]

Yeah apparently a bunch of the big ones lobbied furiously to have the amendment withdrawn. Sygnia named them on the money show the other day.

Sad hey! Clearly we can see who control our money! I always say, without clients any investing firm is nothing!

 

[Thor]

Coronation lobbied government. This is being rolled back.

Active fund managers will lose money so they step in and fck South Africans.

 

[Analog Revenant]

yeah, my request to Sygnia offshore ETFs got processed just before they reversed it. So I'm pretty happy, they'll probably force a switch back in 12 months for not being reg28 compliant now. I'll wait with popcorn

 

[zerocool2009]

yeah, my request to Sygnia offshore ETFs got processed just before they reversed it. So I'm pretty happy, they'll probably force a switch back in 12 months for not being reg28 compliant now. I'll wait with popcorn

Cheers on 12 months awesome growth ahead !

 

[Messugga]

Yeah apparently a bunch of the big ones lobbied furiously to have the amendment withdrawn. Sygnia named them on the money show the other day.

So if it gets withdrawn, I wonder if those transactions Sygnia completed would need to be undone?

 

[smc]

So if it gets withdrawn, I wonder if those transactions Sygnia completed would need to be undone?

My recollection is that when the original legislation was brought in (which is a long time ago), you didn't have to sell assets to meet the caps, but no further capped assets could be added to a portfolio. So in this case, you would only be able to add local assets to your portfolio until such time as the cap was met.

However, this situation is different. When the legislation was brought in originally, any portfolios that weren't compliant were "non-compliant in good faith". It's arguable whether the actions of the one or two asset managers that took advantage of what was clearly a mistake was good faith.