Glacier Quarterly 1 - 2018

CE’S NOTE
As I write this, there’s a renewed sense of optimism in and around
our country – an almost surreal feeling that finally things will
change for the better.
We’re seeing things happen that only a few months ago were
hard to imagine. Cyril Ramaphosa being appointed as President
of our country, the board changes at Eskom, and the nuclear deal
being taken off the table are all steps in the right direction.
During his State of the Nation Address, President Ramaphosa
quoted from one of the late Hugh Masekela’s songs, ‘Thuma Mina’
– a song of new beginnings. He added: ‘We are at a moment in the
history of our nation when the people, through their determination,
have started to turn the country around. We can envisage the
triumph over poverty; we can see the end of the battle against Aids.
Now is the time to lend a hand. Now is the time for each of us to
say, “send me”.’
In our industry especially, there’s much still to be done to educate
and to help grow the wealth of all South Africans. Each of us can
also say ‘send me’ in some small way.
In our first issue of the Glacier Quarterly for 2018, we take a look
at the year ahead from an economic, investment and political point
of view. Political commentator Justice Malala considers whether the
‘Ramaphosa rally’ can be sustained – believing the year ahead will
not be a ‘straight line’. Institute of Race Relations CEO Frans Cronje
feels that within six months to a year we’ll know whether we’ll enter
the ‘Rise of the Rainbow’ scenario – one in which a reformed ruling
party will introduce reforms to restore the rule of law and position
us as a leading investment destination.
Before his sudden passing shortly before Glacier Quarterly went
to print, Professor Matthew Lester unpacked the latest Budget
Speech and what it means for investors – especially those wanting
to leave a legacy. We also share some of the findings from the latest
Household Wealth report by the Bureau for Market Research. This
shows some of the social and economic issues that need to be
addressed, specifically unemployment and education.
Alwyn van der Merwe, Director of Investments at Sanlam Private
Wealth, highlights the benefits of diversifying offshore, while
cautioning investors not to give up on SA, which still offers unique
investment opportunities.
Lastly, Cornel Basson of Glacier discusses the merits of
guaranteed investment products in the current environment,
particularly for the more cautious investor.
The common thread from all the commentators is that although
there’s a long way to go, we’re finally on the right road.
I hope you enjoy the read.
Khanyi Nzukuma
Chief Executive:
Glacier by Sanlam
#SendMe