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Q:
What is a unit trust fund and how does it work?
A:
Simply put, a unit trust fund is a way for you to invest your money. You can invest in a unit trust fund through financial services providers such as a broker; an Investment Management Company or in some cases through your bank. A unit trust fund is a pooled resource, which means that it allows a group of investors to combine their cash and invest it. Think of it like going in on a group gift. Taken altogether, those investments are called the fund’s assets.
So how does it work?
A unit trust fund is made up of equal shares which are called “units”; these “units” have a price called a Net Asset Value. While you as an individual invest in a unit trust fund, the fund itself is run by a fund manager, whose aim is to grow the overall value of unit trust fund. The fund manager does this by investing the fund’s assets, usually by buying stocks, bonds, or a combination of these two securities which are listed on the Stock Exchange. These stocks or bonds are often referred to as a fund’s “holdings” and all of a fund’s holdings together are its “portfolio.”
A fund’s type depends on the kinds of securities it holds. For example, a small-company stock fund invests in the stocks of small companies. What you get as an investor or shareholder is a portion of that portfolio. Regardless of how much or how little you invest, your shares are the portfolio in miniature.
Source: Morningstar
It is never too early to start investing, but it is also never too late. At Sharenet, we offer a wide range of investing opportunities and will help you tailor your portfolio to your needs.
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Email: editor@sharenet.co.za
Step 1
Preheat oven to 400°F. Line a baking sheet with parchment.
Step 2
Place squash in a large bowl and add salt, spices, oil, syrup, and orange juice. Toss to combine and pour onto baking sheet.
Step 3
Roast until tender, 30 to 40 minutes, tossing halfway through to ensure even browning. Garnish with parsley and serve hot, warm, or at room temperature.
Recipes adapted from Kitchen Matters: More Than 100 Recipes and Tips to Transform the Way You Cook and Eat—Wholesome, Nourishing, Unforgettable by Pamela Salzman. Copyright © 2017
PROJECT COSTING AND BOOKKEEPER REQUIRED IN CAPE TOWN Requirements: Grade 12/ Matric 2 – 3 years’ experience in a similar role Experience in the Manufacturing Industry Good communication skills Strong literacy and numeracy skills Advanced computer skills, especially MS Excel and MS Word Ability to work under pressure Accuracy and attention to detail You will need to reside in CAPE TOWN or surrounding area. Please take note: If you have not been contacted within 14 days, please consider your application unsuccessful. Your details will be held for future vacancies. Please visit our website www.mprtc.co.za to upload your CV or for more information.
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We are looking for an organised, dynamic, and enthusiastic person to assist one of our clients in Port Elizabeth with day to day business support, to start in February 2018 Skills and specifications: Energetic Ability to problem solve Ability to think practically and make decisions Advanced Computer skills Ability to communicate professionally with clients High attention to detail Strong administration skills Knowledge and experience in generating invoices and quotations Valid driver’s license with own transport is essential Educational Qualifications: Grade 12 Relevant Diploma or Degree an advantage Only shortlisted candidates will be contacted.
A lawyer, poet and businessman, Mathews Phosa does not allow government tenders in his family and is passionate about farming.
Mathews Phosa beams as he hands me a framed copy of cartoons from late 2001, which he keeps in a small personal library at his family home in White River, Mpumalanga. The City Press cartoon shows Phosa standing next to businessman Tokyo Sexwale and Deputy President Cyril Ramaphosa, all of them looking down at a kneeling Steve Tshwete who profusely apologises for claiming that the trio were plotting to topple former president Thabo Mbeki. At the time, Tshwete was minister of safety and security. He died in 2002.
A second caricature, by cartoonist Bethuel Mangena, is even more brutal. It shows the three men carrying long whips and chasing Tshwete down a road. Phosa sees the humour in it, and cracks into laughter.
“We are hitting him,” he chuckles. Later, as we talk, it becomes clear that that part of his life was not a laughing matter.
At one point during that episode in his life, former justice minister Penuell Maduna called him. Maduna suggested the “conspiracy thing” could be solved if Phosa and crew apologised to Mbeki.
A furious Phosa rejected the idea and told Maduna in rather colourful words to go jump.
“I have never been involved in a plot so I’m not going to apologise to Mbeki at all,” he told Maduna. A later investigation cleared the three leaders.
Fast-forward to 2017 and it is no more a rumour that Phosa is among a throng of candidates vying to take over from President Jacob Zuma at the ANC’s national elective conference in December.
Unlike some of the other contenders – Lindiwe Sisulu, Jeff Radebe and Ramaphosa – Phosa started his presidential campaign on a front foot. He already had the human infrastructure that he had set up in 2012, when he unsuccessfully contested the post of ANC deputy president at the ANC’s Mangaung conference.
However, as it becomes clear later that day, when he speaks at a graduation ceremony of one of his protégés, Phosa’s Forces of Change anti-Zuma grouping has weakened following the birth of Julius Malema’s Economic Freedom Fighters (EFF) in 2013. Many of his backers opted to jump the ANC ship and join the new party.
But first we have a family lunch with the children and grandchildren where Phosa, a lawyer and a ruthless businessman, shows different sides of himself: a family man and passionate farmer. The lunch is a weekly Saturday ritual, explains Phosa’s wife, Pinky, an ANC MP.
For the next hour or so, the discussion around the table is about business, ethics and how to handle money. Phosa’s firstborn daughter Moyahabo, now married with three children, runs her own public relations company. Her younger sister, Tshepiso, runs a Puma filling station in Nelspruit. His other two children Matlhatse and Lesika are absent.
Tshepiso says her father is health conscious and drinks only water and tea.
“He avoids rice and pap and he eats green salad. He works out at the farm, she says, referring to a litchi farm a few minutes from Nelspruit.
A golden rule in the family is that government tenders are banned. This is despite Ms Phosa being a former deputy speaker, speaker and MEC in Mpumalanga.
“You cannot live off the fat of the state because you have access to it,” says Phosa, adding that “these are not the Duduzanes” – a reference to Zuma’s son Duduzane.
Moyahabo says her father is so strict that whenever she asks for “a push” – a loan – for her business she always has to pay it back, with interest. Tshepiso is renting the petrol station’s site from her father.
“The principle behind it is that I should learn how to pay my dues,” says Tshepiso. Phosa quips: “There is nothing free in life. You must pay back the money.”
Phosa speaks passionately about his litchi farm, where he frequently goes to spend quiet time with the family. “You get to know your children better when you are calm,” he says. The 22-hectare farm has up to 6 000 litchi trees. The litchis take seven years to harvest and the trees are in their sixth year.
“You have to have the patience of the farmer before you harvest.”
He says a culture of farming, and game farming, is big in the family. He breeds buffalo, sable antelope and black and white impala, “just like Ramaphosa” on another farm near Tzaneen. This includes a hunting farm. He breeds Bonsmara cattle and exports avocados to Europe, competing with countries like Mexico.
“I’m more of a farmer than people realise. It is one of the biggest parts of my business.
“Then there is the mining aspect, processing in the Brits area, North West. It is a diversified portfolio of businesses. The whole group employs more than 30 000 workers throughout the country,” he says.
He has deliberately kept all this out of the public eye.
“My businesses are cheekily independent because first I banked on myself. I made millions from consulting and put that into business. I did that very quietly, so today many ANC people do not know my businesses because I hide it and keep it private.”
He rejects as “superficial nonsense” and “politics of the ignoramus” the suggestion that he was in the pockets of Afrikaner businesspeople.
“What do I have to do with Afrikaners? Afrikaans is a subject I excelled in and had 85% of my subjects in Afrikaans,” he says. He writes poetry in both English and Afrikaans.
When he was approached to be president of the Afrikaanse Handelsinstituut, he got former president Nelson Mandela’s blessing.
“The ANC embraced the move, describing it as a breakthrough for national unity and nonracialism.”
Likewise, he says, it is wrong to claim that Ramaphosa is in the hands of the Jews.
“I will defend Cyril because I know him. We come from university together, we were in the same classroom. I have never known him to be a puppet of the Jews.”
The two were students at the University of Limpopo’s Turfloop campus in 1972 and both led student activism. Later in life, Ramaphosa became ANC secretary-general and Phosa followed later as treasurer-general. He put Ramaphosa in his ANC finance committee. “We have known each other for many years. I know his first girlfriend and he knows mine.”
“I’m calling for unity of the progressive forces”
He does not mince his words when he says that Indians control Zuma.
“Of course they run him and there is enough evidence.” He says many of his colleagues in the ANC agree that they were wrong to think they really knew Zuma.
“He was the kindest of all uncles and leaders. He was charming, always laughing and worrying about all of us. He had a soft human side about him which was very nice. I think in a way he still has it.
“You would not see the greed aspect of him because it did not manifest itself. Some say he must have been very deceptive. Others say Mbeki should have warned all of us because he was close to him. They were like twins.”
At one point during the interview he looks at his phone and giggles. He seems pleasantly amused.
“I’m getting more nominations from Eastern Cape. It is amazing,” he says as he hands me his phone. The message comes from his campaign organiser in that province.
“The Eastern Cape has been crazy since they started nominations yesterday,” he says.
Phosa arrives just after 19:00 at the Casambo Exclusive Lodge near Nelspruit for the graduation ceremony of EFF provincial leader Collen Sedibe. Before the ceremony starts takes selfies and shares jokes with those sitting at his table, including EFF general secretary Godrich Gardee.
He is introduced to the audience as “one of our own”. The event could have easily been a reunion of the old Forces of Change lobby group.
Gardee tells the audience: “In him [Phosa] we have a revolutionary and a freedom fighter.”
He says he hopes Phosa will win so that he can be there when the ANC and EFF negotiate a coalition government after the 2019 general elections.
“Not Baba ka Duduzane [Zuma] because he represents corruption.”
He says Zuma’s preferred successor, Nkosazana Dlamini-Zuma, is corrupt.
Gardee’s parting words for Phosa: “We hope soon when you lose the race in Nasrec you will come to the EFF. We are just a phonecall away. We want a very strong EFF in 2019.” The ANC’s December conference will take place at the Nasrec Expo Centre, Johannesburg.
When he takes to the podium, Phosa says many in the audience are his children or political students. He says he opted not to wear his academic gown “because they are so maroon, I will look like EFF”.
He criticises Zuma’s axing of Blade Nzimande as higher education minister last month.
“Changing ministers does not change the quality of education. Zuma is uncomfortable with people who dare to differ with him and he prefers sycophants,” Phosa says.
He does not support government’s expensive plans for nuclear energy and says those pushing for it have already pocketed commissions.
He says voters are convinced that the ANC has lost its way and the outcome of the December conference is anybody’s guess. His suggestion is that the ANC, EFF, United Democratic Movement and Congress of the People work together in 2019.
“The time for political realignment is coming and no one can avoid it. I’m calling for unity of the progressive forces. We are all one.”
Polokwane – Thieves and liars will be removed from the ANC at its national elective conference in December, Deputy President Cyril Ramaphosa promised on Saturday.
Speaking at a regional ANC rally in the Malamulele Stadium, Ramaphosa said in XiTsonga that the ANC will be “ruined” if the problems it’s facing aren’t “fixed”.
“We will wash and clean the ANC, and it will be the ANC you know. The ANC that will work for the people,” Ramaphosa said.
“As we go to the conference, we must fix the ANC.”
Ramaphosa also promised to “resuscitate” the tripartite alliance who has recently publically criticised the ruling party for not removing President Jacob Zuma.
The ANC presidential candidate ended his address by praising the Limpopo province for being the “laboratory on non-tribalism” in South Africa.
“Limpopo is the most fortunate province in South Africa because we’ve been [peacefully] living together as Pedis, VhaVenda, and as VaTsonga. We’ve always been united,” Ramaphosa said.
He praised the people of the province for speaking both XiTsonga and TshiVenda which improves the unity in the province.
The ANC plans on holding its 54th National Conference in Gauteng from December 16 to 20 in Gauteng.
Ramaphosa faces stiff competition from former African Union chairperson Nkosazana Dlamini-Zuma who has been endorsed by the ANCYL and ANCWL.
London – New Zealand coach Steve Hansen suggested referee Nigel Owens had not been as “focused” as he would have been for a test match after the world champions launched their tour of Europe with a 31-22 win over the Barbarians at Twickenham on Saturday.
Hansen deliberately fielded an unfamiliar-looking All Blacks team, with flyhalf Beauden Barrett captaining the side in place of the rested Kieran Read.
Regular skipper Read found himself reduced to the role of ‘water boy’ for this non-cap international and, with decisions going the Barbarians way (they were 17-5 up in the first half), Owens, one of the world’s top officials, jokingly told him he would also be in charge for the All Blacks’ tour finale against Wales in Cardiff later this month – an impossibility given Owens is Welsh.
Hansen, however, had a quick-witted reply of his own when told of that remark by Owens, who was also the referee when New Zealand beat Australia in the 2015 World Cup final at Twickenham, during a post-match news conference.
“Most of the banter came from Nigel,” said Hansen. “It would’ve been good if he’d have reffed this one (match against the Barbarians).”
Hansen, quickly clarifying a comment that might otherwise land him in trouble with World Rugby chiefs, added: “It was a festival game, wasn’t it? And he (Owens) is like the rest of us, he’s fallen into the trap of doing it.
“He did a good job, I’m not saying that he didn’t, but there’s no doubt in my mind that he wasn’t as focused as he would be if it was a test match…It’s difficult for a player to get their head around that and it’s also difficult for the ref.”
Meanwhile Barbarians coach Robbie Deans, told of compatriot Hansen’s comments regarding Owens, said: “I agree, I think we got the rub of the green.”
BULUWAYO – Zimbabwean President, Robert Mugabe is threatening to fire Vice-President Emmerson Mnangagwa.
He accuses his deputy of causing divisions in the ruling Zanu PF party.
This comes after Mnangagwa’s supporters heckled First Lady Grace Mugabe at a tense Zanu PF youth rally in Bulawayo.
Mnangagwa — who was present at the event — remained quietly seated as the first lady hurled insults at him.
Grace Mugabe said: “If you were given money to boo me, go ahead, boo, I will say it and I don’t care I will say it. I am the First Lady and I will stand for the truth. Let me tell you this, bring soldiers with guns to shoot me – I don’t care. I will always say it. I am very sure you were told that when Mrs Mugabe starts speaking, you boo. I have got power and I will stand for myself.”
Zanu PF is embroilled in a dispute with Mnangagwa, who it accuses of leading a faction, known as Lacoste.
Grace Mugabe apparently leads another faction, dubbed the G40 — it’s made up mainly of young ministers.
Rober Mugabe responded by saying: “I am getting insulted in the name of Mnangagwa daily. Did I make a mistake to appoint Mnangagwa as my deputy? If I made a mistake I can even drop him tomorrow. If he wants to form his party with his supporters, he can go ahead. We can’t have a party riddled with insulting each other daily. We heard this booing was organised before we came. Those who want to be under me should behave, and those who don’t should go. We don’t persuade people. It does matter who.”
Zanu PF’s special elective congress will be held next month.
The Women’s League, led by Grace Mugabe, is demanding a female vice-president be appointed.
Currently, the governing party has two vice-presidents, who are both male.
eNCA
MKHIZWANA, KwaZulu-Natal – A grade 12 pupil from KwaMkhizwana outside Durban has drowned.
The Nogujwa High School student, Nala Gumede, and several other matriculants went swimming in the uMngeni River after writing their science exam.
Sanele Mndweni, one of Gumede’s friends, says: “After taking off his clothes, he stood on a rock in the river. Then he sat there. After a while, I saw him go under the water and then he resurfaced. I called people to help him. When they approached him, he drowned. I don’t know what caused this because it all happened so fast.”
Another friend, Sanele Mndaweni, says: “We never thought such a thing would happen. It hurts us. Even yesterday I lost my mind, I didn’t know how to help him.”
Gumede’s aunt says the grade 12 pupil was not a swimmer.
According to Bonani Gwala, “He didn’t know how to swim. All his life, Nala has never been a swimmer. All the children here at home don’t know how to swim because we don’t have a big river near us. It was the first time he swam in his entire life. Those who were with him say he sat on a rock, saying he was scared to enter the river.”
The 17 year-old had big dreams.
Joseph Gwala, his uncle, says: “He left me in pain. He had dreams. Every time we met, we would have a nice chat. He did not drink alcohol. This boy had a dream of being a police man because I’ve always wanted to have a policeman here at home.”
His classmates are visibly shocked.
Teachers describe the deceased as a shy student.
Locals say Gumede is the fifth person they know about, to drown in the river.
eNCA