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8 Saturday, July 11 2020 | PERSONAL FINANCE Vital to keep saving even while managing debt TheBrief GOLD ETFs DRIVE EXCHANGE- TRADED PRODUCT MARKET GOLD bought in the form of exchangetraded funds (ETFs) has been key to the growth of the exchange-traded product (ETP) market this year, reports Mike Brown, managing director of etfSA.co.za. The total market capitalisation of all ETPs on the JSE rose from R100.8 billion at the end of 2019 to R106.5bn at the end of June 2020. Brown says this 5.7% increase in the size of the local ETP industry was noteworthy given the market turmoil over this period. The single biggest contributor to growth was the NewGold ETF, which increased its shares in issue by 11.7 million, effectively raising R9.3bn in new capital over the past six months. Investing in gold ETFs, which are backed 100% by physical gold bullion, has enabled many investors to hedge their losses in other areas of the market, Brown says. EARLIER this year, a client wanted to use emergency savings to settle some debt. The couple had not touched their emergency savings for several years and doubted whether they would need them soon. I remember pondering the option but cautioned them against not having emergency savings. Fortunately, the couple followed my advice, as a month later Covid-19 arrived on our shores, and they received no income for three months, forcing them to use their emergency savings. We have been lulled into complacency, thinking there will always be work, if not in our present jobs, then elsewhere. We also often overspend, thinking we will settle the overdraft or save more next month. We believe that even though things are bad, we could somehow make a plan. Covid-19 and the resultant lockdown measures have rocked many sectors of our economy, with profound implications. There is RANDS & SENSE SIGRID MADONKO no quick recovery, and forecasts estimate a 5% drop in gross domestic product by the end of the year. Economic theory states that we need to save to have a healthy economy. Saving is required for investment growth, and investment growth is required to achieve economic growth. South African households have a poor savings culture, and the largest contributor to savings in the past has been corporates. Most of us realise the advantages of saving, and, if we do not, the current crisis is a huge wake-up call. The advantages of savings are simple: they provide greater security and freedom. Long-term savings enable wealth creation and provide us with options. These may include starting your own business or diversifying the operations of a business. WHERE DO I START? Start where you are at. There are essentially three savings buckets: emergency, medium-term, and retirement savings. Each bucket needs savings in it, and the amount will depend on your needs, future plans, and lifestyle. Where we place those savings will also depend on our risk profile and how soon we need the money. Research in the UK shows that the investments of individuals who Reputation of insurance industry is on the line use financial advisers perform 2% to 3% better than those who do not. I found this to be interesting given the fact that financial advisers also charge fees, yet individuals perform better with an adviser. The reason is that a financial adviser regularly reminds you to keep saving, not to withdraw your savings, and to stick to your plan. The adviser looks at the bigger picture and helps you achieve your financial goals. SHOULD I REPAY MY DEBT FIRST? Compound interest is the greatest advantage we have in wealth accumulation. The sooner you can get it working in your favour, the better. I advise clients simultaneously to save and settle debt. If you neglect either, compound interest will work against you. PLANNING IS KEY Some key elements in building an investment portfolio and achieving financial freedom: u Budgeting and sticking to the budget. u Planning, planning and planning some more. u Looking at the bigger picture and setting your eye on the prize. u Setting achievable goals with timelines and reviewing them regularly. Structuring a budget and sticking to it can make the difference between building up investments and going into debt. By planning, stress is removed and there is less chance of wasteful spending. Identifying life goals and saving towards each goal separately will keep the goals in sight and more attainable. Saving and achieving financial freedom comes from small consistent, disciplined steps and sticking to your plan. Sigrid Madonko is a Certified Financial Planner professional and director at Quintus Wealth (www.quintuswealth.co.za). FSCA PUBLISHES CONDUCT STANDARD FOR BANKS THE FINANCIAL Sector Conduct Authority (FSCA) has published the conduct standard for banks, along with a document detailing the expected impact of the conduct standard, and a report on the consultation process. The publication of these documents is the first step towards rolling out a comprehensive market conduct regulatory framework for the banking sector. When the Financial Sector Regulation Act was introduced in 2018, the FSCA was given the mandate of regulating the way banking institutions conduct themselves in providing financial products and services to customers. The FSCA says the conduct standard underwent a comprehensive public consultation process, coupled with industry specific engagements. It was also submitted to Parliament as required under the act. The conduct standard has been made final and is available on the FSCA’s website, www.fsca.co.za FSCA SEEKS TO LIQUIDATE JP MARKETS PLATFORM THE FINANCIAL Sector Conduct Authority (FSCA) has filed an urgent application with the High Court to liquidate online trading platform JP Markets, and warns that the bank accounts of JP Markets have been frozen. This follows the provisional suspension of the financial services provider licence of JP Markets last month. The FSCA says it has taken these steps as it believes that JP Markets has contravened financial sector laws, including running an unlicensed over-thecounter derivatives provider business. It says the investigation into the activities of JP Markets is ongoing. Derivatives offered by such platforms include CFDs (contracts for difference). The authority warns that derivatives trading is a high-risk investment activity. UNIT TRUST PRICES: As a result of space constraints, we are unable to publish the unit trust prices. The performance data can be found at www.fundsdata.co.za/navs “We’re paying the highest tribute you can pay a man. We trust him to do right. It’s that simple.” – Harper Lee, To Kill A Mockingbird ALTHOUGH laws and regulations are essential for the smooth running of the financial system, it is on trust that it stands or falls. We trust banks, for example, to be the custodians of our money. If all banks were to behave like VBS and simply steal our savings, there would be no banks; we’d all be stuffing our cash under the mattress. Insurance companies are in a more delicate situation. You pay a regular premium in return for a promise: that if you suffer a financial loss under a given set of circumstances, you will be compensated. If those circumstances do not arise (for example, you never have a break-in), the insurance company does not owe you anything, despite you having paid premiums possibly over many years. What insurers have to manage is this: they must reasonably be seen to be upholding their side of the agreement. They cannot be perceived by most of their customers – or the THE SHAREHOLDER activist organisation Just Share put out a blistering press release this week after attending Santam’s annual general meeting on Tuesday. An edited version of the statement reads: “When asked by Just Share whether it would reconsider its position in light of a recent judgment against insurer Guardrisk, Santam stood firm in its position that it will ‘seek clarity from the courts of South Africa’. The board also would not commit to a binding arbitration process to expedite the matter. This is surprising, given that the Western Cape High Court has provided legal clarity already, finding WORDS ON WEALTH MARTIN HESSE | martin.hesse@inl.co.za public at large – as being reluctant to pay claims. If most people felt that way about a particular insurer, the insurer would go out of business. Generally, a bank cannot separate you from your money unless, as in the case of VBS, it clearly acts outside the law. But an insurance company can avoid paying you out and stay within the bounds of law, by finding a legal excuse to decline your claim. Take, for example, a KwaZulu- Natal case I am following. An insurer has not paid out the beneficiary on the life of a man who was electrocuted in the course of his work. The insurer has given no reasons for not paying the claim, except that it is investigating unequivocally in Café Chameleon v Guardrisk Insurance Company Ltd that the Covid-19 outbreak – not the lockdown – is the legal and factual cause of the claimant’s losses, and that the insurer must pay out the claims. “Santam’s position is in stark contrast to chief executive Lizé Lambrechts’s statement on the company’s website that Santam is ‘absolutely committed to playing our part to help alleviate some of the devastating impacts of this virus’. “Insurance Claims Africa (ICA), a public loss adjustment firm, is representing approximately 500 affected businesses. Collectively, the circumstances of the death. The man died three years ago, and a police report found that the death was accidental, but the insurer is still investigating... Statistics show that insurance companies pay out most claims. It’s the cases in which the rejection of a claim is perceived to be unfair, and which get wide media coverage, such as the notorious Momentum- Ganas case of 2018, that dent their reputation and erode public trust. Which brings us to the current business interruption saga brought on by the pandemic. Despite a landmark judgment going against the insurer Guardrisk this week, Santam, among others, hasa dug in its heels on compensating small businesses whose cover included notifiable diseases, essentially arguing that the policies were never intended to cover the economic collapse brought on by the lockdown. This is very different from the odd isolated cases that have hit the headlines in the past. This is a whole class of cases that has the potential to irrevocably damage any trust South Africans have in the industry. The industry is afraid it will not SHAREHOLDER ACTIVIST GROUP HITS OUT AT SANTAM the total value of their claims with all insurers involved is between R3.5 billion and R4bn. “Many of Santam’s business continuity policyholders are facing imminent closure, threatening the livelihoods of the thousands of people employed by them. Santam has chosen to go to court to obtain ‘legal certainty’ in the interpretation of the disputed policies. Unlike the insurer and its immensely deep pockets, these businesses cannot wait months or years for the resolution of a court process. ICA has already approached Santam with a reasonable settlement proposal, but has been turned away. SANTAM, among other insurers, is digging in its heels on compensating small businesses whose cover included notifiable diseases. | African News Agency (ANA) be able to cope financially with the flood of claims. However, anticipating being overwhelmed by claims cannot in itself be a reason for declining them (as was nonsensically argued in the court case). This would be like hospitals refusing to treat Covid-19 patients, for fear of being overwhelmed. You’ve got to do what you’ve got to do, or at least as much as you can do. In fact, Santam has indicated that its balance sheet is robust enough “In a Sens announcement released [this week], Santam says that it ‘understands the financial distress on the businesses and individuals impacted by the national Lockdown to combat Covid-19’, and that it also recognises ‘the public interest in this matter and [is] therefore seeking legal certainty by having this matter speedily determined by the courts of South Africa’. It is hard to reconcile this with the company’s actions, which point to a complete lack of awareness of the impacts of its insistence on taking a lengthy, expensive legal approach.” Emma Schuster of Just Share says: “At the start of the lockdown, to withstand anticipated claims, although that may not be true of all insurers. The Financial Sector Conduct Authority has now stepped in on the side of the policyholders and will likely force the hand of the insurers. But it shouldn’t have come to this. Only one insurance company as far as I know, Outsurance, has voluntarily decided to honour these claims. It puts the rest of the industry to shame. we witnessed an outpouring of grand gestures and public commitments to corporate kindness by big companies. Santam was no exception. If there is legal ambiguity in the clauses of the policies held by these small businesses, Santam should take an approach which is in line with its public claims to care about the impact of Covid-19 on the South African economy and on its clients’ businesses. Instead, the company seems determined to take a short-sighted approach which is eroding its reputation, and which will contribute to the devastation of a swathe of the small tourism and hospitality businesses which are so essential to the economy.” Case highlights key issues when creating a testamentary trust IN A recent court case, Van Rensburg v Van Rensburg NO and Others (March 24) issues around a testamentary trust were highlighted. As the will of a deceased person forms the trust instrument, no further trust instrument is required to be lodged with the Master of the High Court. A will typically does not provide detailed provisions of how a trust should be administered. This often leads to issues arising at a later stage. In this case, the joint will of the mother and father provided that on the death of the father a testamentary trust had to be established for the benefit of the mother. The trustees had to apply the income and the capital of the trust for the maintenance and benefit of the mother until her death. On her death, the trust should have terminated and the trust assets divided equally among the four children, or the survivors of them. All four children had been appointed trustees of the trust in terms of the will. After the mother’s death, the brother requested the banking details from his sisters so that he could pay over their respective portions of the trust assets, to wind up the trust. Unfortunately, the one sister’s ALL ABOUT TRUSTS PHIA VAN DER SPUY emails were intercepted and fraudulent bank account details were conveyed, upon which payment was effected. Her siblings were of the view that it was not fraud perpetrated against the trust, but her own issue. She approached the court to have the trustees removed, because she was of the view that they, as trustees and beneficiaries of the trust, were conflicted. She requested the appointment of new trustees, for them to decide whether to pursue the matter against the trustees or the brother, whom she believed acted negligently in paying her share to an incorrect account. The following issues were addressed in the application: TERMINATION OF THE TRUST AND THE RESULTANT LACK OF BENEFICIARIES The one issue was whether the trust terminated on the death of the mother. In this instance, the will was clear about the termination date – it had to terminate on the death of the mother. It was not the intention for the trustees to hold the assets for the benefit of the children, only for the benefit of the mother. After the mother’s death, no further beneficiaries could be appointed, as the trust had effectively terminated. The sister was therefore not successful in alleging that the trustees were conflicted due to them also being beneficiaries of the trust. Even though people may refer to each other as beneficiaries in communication, they are not beneficiaries if they are not indicated as such in the trust instrument (will). The lesson is that a testator or testatrix should carefully consider his or her wishes when drafting a will, as no rights, which beneficiaries normally have, would be available to such legatees. A will should also clearly stipulate when the trust ought to terminate, as well as the instructions on termination. REMOVAL OF TRUSTEES The removal of trustees, particularly in a testamentary trust, where the testator or testatrix hand-picked the trustees, will always be a delicate matter. The judge in the Volkwyn NO v Clarke and Damant case of 1946 stated that it “is a matter not only of delicacy… but of seriousness to interfere with the management of the estate of a deceased person by removing from the control thereof persons who, in reliance on their ability and character, the deceased has deliberately selected to carry out his wishes. Even if the… administrator has acted incorrectly in his duties, and has not observed the strict requirements of the law, something more is required before his removal is warranted. Both the statute and the case cited indicates that the sufficiency of the cause for removal is to be tested by a consideration of the interests of the estate.” The judge also referred to the Gowar v Gowar case of 2016, where the court was mindful of the fact that disharmony may exist in the administration of a trust and that this is in itself not sufficient for the removal of a trustee. The court held that the “overriding question is always whether or not the conduct of the trustee imperils the trust property or its proper administration. Consequently,… mere conflict amongst trustees would not be a sufficient reason for the removal of a trustee at the suit of another.” That case established a couple of important principles: u The court must exercise its power to remove a trustee with caution. Conflict among the trustees and/or beneficiaries is not sufficient reason for a court to remove a trustee. The overriding factor is the welfare of the beneficiaries and the proper administration of the trust and the trust property. A trustee’s removal will be ordered only if the trustee’s continuance in office will prevent the trust from being properly administered, or will be detrimental to the welfare of the beneficiaries. u Neither dishonesty or even misconduct is required for the removal of a trustee – the only requirement is that such removal must be in the interests of the trust and its beneficiaries. IN CONCLUSION In this case, the trust terminated (as discussed above), and the role of the trustees terminated with it. Thus the judge correctly stated that the removal of the trustees would be redundant. The following is clear: u Trustees of a trust need to read through and completely understand the trust instrument. u The terms of a will creating a testamentary trust have to be unequivocally clear. This includes the wishes of the testator or testatrix, including whether he or she wants heirs to be nominated beneficiaries of the testamentary trust or just residual heirs of the estate, as in this case. The decision may have tax and other consequences. u Trustees need to verify banking details before making payments from the trust’s bank account. u When a trust terminates, there are no remaining beneficiaries: the roles of the trustees terminate with the trust. Phia van der Spuy is a registered Fiduciary Practitioner of South Africa, a Master Tax Practitioner (SA), a Trust and Estate Practitioner and the founder of Trusteeze, a professional trust practitioner.
• EPL Man Utd are on an upward trajectory – Neville PRETORIA NEWS | Saturday, July 11 2020 The Good Read • FEATURE 9 GARY Neville has hailed Manchester United’s formidable form of late after yet another emphatic victory over Aston Villa on Thursday night. United ran out 3-0 winners at Villa Park, thanks to goals from Bruno Fernandes, Mason Greenwood and Paul Pogba – ensuring they became the first club in Premier League history to win four consecutive games by three goals or more. Optimism is extremely high in the United camp after Ole Gunnar Solskjaer’s side extended their unbeaten run in all competitions to 17 matches while they are still in the hunt for the FA Cup and Europa League. And former United right back Neville believes his old side are getting their swagger back, but claims there is still a way to go until they reach the levels of Manchester City and Liverpool. Speaking on the Gary Neville podcast, Neville hailed: “Manchester United are playing with confidence, arrogance, particularly against teams that are in the lower end of the table, teams they have struggled to break down in the past. “They look authoritative, they have possession, control and patience. They are so sure now that they can go from walking to injecting quality through Bruno Fernandes, Paul Pogba, Greenwood, Martial, Rashford. They have so many options and United are looking formidable. “They are still not there in terms of Manchester City and Liverpool, that is where they need to get to, but they are on an upward trajectory and are certainly looking a lot better than they were. “There is cause for optimism. You were thinking there wasn’t a midfield, that Pogba was going to leave, they • FOOTBALL TV GUIDE TODAY Cricket: Test Series: England v Windies, First Test, Day 4, 11.30am, SS2 Golf: PGA Tour: Workday Charity Open, Muirfield Village Golf Club, Day 3, 7pm, SS1, SS5, CSN Motorsport: Formula 1: Styrian Grand Prix, Practice 3, 11.45am, SS6; Qualifying, 2.30pm, SS1, SS6; FIA Formula 2 Championship, Round 2: Race 1, 4.45pm, SS6; IndyCar Series: REV Group GP at Road America, Race 1, 11pm, SS6 Rugby: Aotearoa: Crusaders v Blues, 9am, SS1, CSN; Rugby Australia: Waratahs v Western Force, 11.10am, SS1, CSN Soccer: Premier League: Norwich v West Ham United, 12.30pm, SS3; Watford v Newcastle United, 1.20pm, SS4; Liverpool v Burnley, 3.30pm, SS3, CSN; Sheffield United v Chelsea, 6pm, SS3; Brighton & Hove Albion v Manchester City, 8.30pm, SS3; Premier League Wrap, 11pm, SS3; Premier League TV: Matchday Live Extra, 11.30pm, SS3; Serie A: Lazio v Sassuolo, 5.05pm, SS9; Brescia v Roma, 7.20pm, SS9; Juventus v Atalanta, 9.35pm, SS9; La Liga Santander: Osasuna v Celta Vigo, 4pm, SS7; Valladolid v Barcelona, 7pm, SS7; Atletico Madrid v Real Betis, 9.30pm, SS7 TOMORROW Cricket: Test Series: England v Windies, First Test, Day 5, 11.30am, SS2 Golf: PGA Tour: Workday Charity Open, Muirfield Village Golf Club, Day 4, 7pm, SS5, CSN, SS1 Motorsport: NASCAR Cup Series: Quaker State 400 Presented by Walmart, 1.30am, | AP didn’t have a right winger and all of a sudden Greenwood appears, the back four and goalkeeper have looked shaky at times, but they are getting themselves together. “It’s looking a lot more positive. It’s not a time to get carried away, it’s still a time to invest and improve the squad but it is a lot better for Solskjaer.” United’s victory over Villa has left them breathing down the necks of both Leicester and Chelsea in the hunt for a Champions League spot. Thanks to their brilliant form of late, United now sit just one point behind Leicester in fourth and two adrift of Chelsea in third with four matches remaining in the Premier League. Meanwhile, United have all but secured their passage to the Europa League quarter-finals, where they are SS6; FIA Formula 2 Championship, Round 2: Race 2, 9am, SS6; Formula 1: Styrian Grand Prix, Main Race, 3.05pm, SS1, SS6; IndyCar Series: REV Group Grand Prix, Road America, Race 2, 6pm, SS6 Rugby: Aotearoa: Hurricanes v Highlanders, 5.30am, SS1, CSN Soccer: Premier League: Wolves v Everton, 12 noon, SS3; Aston Villa v Crystal Palace, 2.55pm, SS3; Tottenham v Arsenal, 5.10pm, SS3; AFC Bournemouth v Leicester City, 7.30pm, SS3; Premier League Wrap, 10pm, SS3; Premier League TV: Matchday Live Extra, 10.30pm, SS3; Serie A: Genoa v Spal, 5.05pm, SS9; Udinese v Sampdoria, 7.20pm, SS12; Parma v Bologna, 7.20pm, SS9; Fiorentina v Verona, 7.20pm, SS11; Cagliari v Lecce, 7.20pm, SS13; Napoli v AC Milan, 9.35pm, SS9; La Liga Santander: Espanyol v Eibar, 1.55pm, SS7; Levante v Athletic Bilbao, 4pm, SS7; Leganes v Valencia, 7pm, SS7; Sevilla v Mallorca, 9.30pm, SS7 MONDAY 13 JULY Soccer: La Liga Santander: Villarreal v Real Sociedad, 7.25pm, SS7; Alaves v Getafe, 7.25pm, SS5, SS1; Granada v Real Madrid, 9.30pm, SS7; Premier League: Manchester United v Southampton, 8pm, SS3, SS1; Premier League Wrap, 11pm, SS3; Premier League TV: Matchday Live Extra, 11.30pm, SS3; Serie A: Inter Milan v Torino, 9.35pm, SS9; Inter Milan v Torino, 9.35pm, CSN TUESDAY JULY 13 Soccer: SkyBet English Football League Championship: West Bromwich Albion v Fulham, 5.55pm, SS9; Premier League: Chelsea v Norwich, 8.30pm, SS3, SS1; Premier League Wrap, 11.15pm, SS3; Serie A: Atalanta v Brescia, 9.35pm, SS9, CSN WEDNESDAY JULY 14 Soccer: SkyBet English Football League Championship: Brentford v Preston North End, 5.55pm, SS10; Premier League: Goal Rush Wednesday, 6pm, SS3; Premier League: Burnley v Wolves, 6.50pm, SS8; Manchester City v AFC Bournemouth, 6.50pm, SS11; Newcastle United v Tottenham, 6.50pm, CSN, SS4; Arsenal v Liverpool, 9pm, SS3, SS1; Premier League Wrap, 11.15pm, SS3, Serie A: AC Milan v Parma, 7.20pm, SS9; Sampdoria v Cagliari, 7.20pm, SS13; Bologna v Napoli, 7.20pm, SS12; Lecce v Fiorentina, 9.35pm, SS5, SS12; Sassuolo v Juventus, 9.35pm, SS9; Roma v Verona, 9.35pm, SS4 likely to face either Istanbul Basaksehir or FC Copenhagen. United hold a 5-0 lead over LASK Linz heading into the second leg of their last-16 clash at Old Trafford. The Red Devils are also eyeing silverware in the FA Cup, in which they will meet Chelsea at Wembley on July 19 for a place in the final. | Daily Mail ENGLISH PREMIERSHIP FIXTURES Today: Watford v Newcastle, Norwich City v West Ham (1.30pm), Liverpool v Burnely (4pm), Sheffield United v Chelsea (6.30pm), Brighton v Manchester City (9pm). Tomorrow: Wolverhampton v Everton (1pm), Aston Villa v Crystal Palace (3.15pm), Tottenham Hotspur v Arsenal (5.30pm), Bournemouth v Leicester City (8pm). Champions League nightmare for Man City THE road ahead is a nightmare for Manchester City with Juventus and Bayern Munich or Barcelona blocking their path to the final … and Chelsea also have the tough side of the Lisbon draw in the Champions League. City will face either Juventus or Lyon, should they progress to the Champions League quarter-finals, while Chelsea will face either Napoli or Barcelona if they stage an almighty comeback against Bayern Munich. City look set to reach the quarter-finals after a brilliant 2-1 last-16 first-leg win at Real Madrid on February 26. The two teams will meet again at the Etihad Stadium on August 7 to conclude that tie. Meanwhile, Chelsea face an uphill battle to reach the last eight after losing 3-0 at home to Bayern Munich on February 25. The return leg in Bavaria MANCHESTER United’s Bruno Fernandes scores the first goal against Aston Villa at Villa Park in Birmingham, England. | AP also takes place on August 7. Elsewhere RB Leipzig, conquerors of Tottenham in the last 16, will face Atletico Madrid – with the latter disposing of defending champions Liverpool at the same stage too. The other tie sees Italian outfit Atalanta face French giants Paris Saint-Germain. All the quarter-finals will take place across August 12-15. Should City progress through their last-16 and quarter-final ties, Pep Guardiola’s men would face Chelsea, Bayern Munich, Barcelona or Napoli in the semi-finals. RB Leipzig or Atletico Madrid will face Atalanta or PSG in the other semi-final, which will provide the “home” team for the final at the empty Estadio da Luz on August 23. It was a positive draw for those four clubs as they have managed to avoid the big-hitters. PSG and Lyon have been the only two teams still in the competition that have not returned to action domestically, after the French top flight was finished early due to the pandemic. Beforehand though, there are four last-16 ties to be completed. Aside from City and Chelsea, the second legs of Juventus versus Lyon (0-1 on aggregate) and Barcelona versus Napoli (1-1 on agg) need to be played. Due to the coronavirus pandemic the quarter-finals and semi-finals will be one-legged affairs as opposed to the traditional two. The competition’s completion will take over 12 days in Portugal with all ties behind closed doors. The final will be held at Benfica’s Stadium of Light on August 23 in Lisbon. | Daily Mail THURSDAY 16 JULY Cricket: Test Series: England v Windies, Second Test, Day 1, 11.30am, SS2 Golf: PGA Tour: The Memorial Tournament presented by Nationwide, Day 1, 8.30pm, SS1, CSN, SS5 Motorsport: NASCAR Cup Series: All-Star Open, Race 1, 1am, SS6; All-Star Open, Race 2, 2.30am, SS6 Soccer: SkyBet English Football League Championship: Leeds United v Barnsley, 5.55pm, SS10; Premier League: Leicester City v Sheffield United, 6pm, SS3; Everton v Aston Villa, 6.50pm, SS4; Crystal Palace v Manchester United, 9pm, SS3; Southampton v Brighton & Hove Albion, 9.10pm, SS4; Serie A: Torino v Genoa, 7.20pm, SS9; Spal v Inter Milan, 9.35pm, SS9 FRIDAY 17 JULY Cricket: Test Series: England v Windies, Second Test, Day 2, 11.30am, SS2 Golf: PGA Tour: The Memorial Tournament presented by Nationwide, Day 2, 8.30pm, SS5, CSN, SS1 Motorsport: Formula 1: Welcome to the Weekend, Hungary, 10.30am, SS6; Formula 1: Hungarian Grand Prix, Practice 1, 10.55am, SS6; Practice 2, 2.45pm, SS1, SS6; FIA Formula 2 Championship: Round 3: Practice, 12.45pm, SS6; Qualifying, 4.45pm, SS6, SS1 Rugby: Rugby Australia: Reds v Western Force, 11am, CSN, SS1 Soccer: Premier League: West Ham United v Watford, 8pm, SS3; Premier League Wrap, 11pm, SS3 Compiled by: IQBAL KHAN Supplied by SuperSport, subject to change BELOW: Regarded as one of the best all-rounders in the world, Jacques Kallis and two-time World Cup winner Dan Carter. | Pictures: AP; EPA SSPORT Good enough should be enough MARK KEOHANE Jacques Kallis could have still been playing for Proteas today GOOD enough is old enough. Every time a youngster has exploded on the international sporting scene, I’ve heard that said. Forget experience, forget a second-season syndrome. Good enough is old enough. But I never witness the same enthusiasm when it comes to old is good enough, which is why I took particular pleasure from watching All Blacks legend Dan Carter turn it on in style for his childhood club Southbridge a week ago. Carter, a two-time World Cup winner, victorious in 99 of his 112 Tests for the All Blacks and the record holder for points scored in international rugby, is 38 years old. A year ago, a 37-year-old Carter won the MVP in the final of the Japanese league and was voted the player of the season Carter, having played all his rugby in New Zealand for Canterbury or the Crusaders, is a member of the Blues Super Rugby squad. He recently said in a media interview that he could play until he was 40 and potentially beyond 40. He said he expected some of the great players of this generation to play into their 40s because of their conditioning, their awareness in daily diets and also their ability to defy the odds of age. Carter’s appearance for Southbridge was sporting romance at its most robust. He kicked six from seven conversions, created two tries, made some telling tackles and got up every time after being tackled, with the hits often a good few seconds after the pass. It was a brilliant occasion, but still there are those on social media who condemned Carter for apparently keeping a youngster on the bench. “Time to move on,” read one comment. “Time for a youngster.” Why? Surely, good enough is old enough. Why is there this obsession to retire older players, regardless of their quality, ability or dominance? How many good South African sports people have been put out to pasture because the public demanded someone younger? Retired Proteas cricketer Jacques Kallis could still be playing international cricket today. He was that good. GERMAN soccer fans may be able to return to stadiums to cheer on their heroes in national team and Bundesliga matches soon, the German Football Association (DFB) and the German football league (DFL) said yesterday. The two bodies are working with health authorities on ways to reduce the risk of infection from Covid-19 at Kallis, in his final few seasons, constantly was asked when he was going to retire. Yet, he was still the world’s best all-rounder, among the elite top order batsmen, brilliant as a fielder and still capable of bowling at 140-plus clicks. Players and athletes, not necessarily good enough, are accepted because of youthfulness, but veterans, always good enough through a proven track record, are asked to leave the arena! I’ve never understood why old is an ugly word in sport for so many supporters and why quality is secondary to age. Roger Federer, statistically, the greatest male player in tennis history with 20 Grand Slam titles, is also the oldest winner of a Grand Slam at 35. Why did so many want him to retire? Federer’s response to the question of retirement, was also a question. Why, when he was still enjoying the game, succeeding and being competitive, should he pack it in because of age? The sporting world would go ballistic if a 26-year-old champion called time on his career, which is what happened when Sweden’s Bjorn Borg walked away from tennis after winning Wimbledon six times. The fans screamed for more. Why not a 38-year-old, ranked three in the world pre-lockdown and with 20 Grand Slams and the second most title wins in history? Old enough surely is good enough. “I don’t think the exit needs to be that perfect, when you have done it all,” said Federer. “People don’t remember what were the last matches of a John McEnroe and Stefan Edberg. Nobody knows. They remember that they won Wimbledon and that they were world No 1. I don’t think the end, per se, is that important.” Federer won the first of his 20 Grand Slam titles 17-years-ago as a 21-yearold. His last Grand Slam win was as a 35-year-old and in 2019. At 37 he lost a dramatic five-set final at Wimbledon to Novak Djokovic. Federer, who spent a record 310 weeks at No 1, was in 2019 ranked third behind tennis icons Rafael Nadal and Djokovic. He was 38. Why the haste to force him from the court? Ditto, the many brilliant sports people in every code. Hope for starved live action German soccer fans to cheer heroes as plans are underway for return to stadiums matches as well as on the way to and from the stadium. DFB Secretary General Friedrich Curtius said in a statement that he expects that the association will develop a concept that will allow the German national team to play in front of spectators at home games this autumn. Most sporting events were shut Cristiano Ronaldo is 35-years-old and Lionel Messi is 33-years-old. No current duo has combined to score more goals at club and international level. The two remain the biggest names in football. Basketball’s maestro Michael Jordan retired at 40. Heavyweight boxer George Foreman won the title at 45 and was still boxing at 50. Bernard Hopkins was a world champion at 51. Ice hockey player Jaromir Jagr was 44 when earning his 10th All-Star selection and more than half of Jagr’s Florida Panthers teammates weren’t born when he played his first NHL game in 1990. Basketball legend Kareem Abdul-Jabbar was the NBA’s all-time leading scorer and a six-time NBA MVP and six-time champion when playing for the Milwaukee Bucks and the Los Angeles Lakers before turning 40. After turning 40, he made it to three NBA finals and won twice. He was also an All-Star in his final three seasons. Robert Parish won the NBA with the Chicago Bulls in 1997. He was 43. Gridiron football player Vinny Testaverde won the NFL with the Carolina Panthers in 2007. He was 44. American swimmer Dara Torres, who won nine Olympic medals in four Olympics, anchored the 4x100m freestyle relay to silver at the 2008 Beijing Olympics. It was 24 years after her first Olympic medal. Morten Andersen, the soccer playerturned-kicker from Denmark, played until he was 47 and finished as the NFL’s career scoring leader. Quarterback superstar Tom Brady is still among the best in NFL at 41. Tiger Woods completed his 15th Major success a year ago. He is 43-years-old. Jack Nicklaus, the winner of a record 18 Majors, won his final Major as a 46-year-old. Serena Williams, at 37, is still one of the best female tennis players. Martina Navratilova, in her prime, won 18 Grand Slam singles titles, seven mixed doubles and 31 doubles titles. She retired in 1995 and, at 44, in 2000, returned to tennis and won 12 more doubles titles and three mixed doubles Grand Slam titles. Her last Grand Slam success came a month before she turned 50. “The ball doesn’t know how old I am,” she said. down earlier this year due to the novel Corona-19 pandemic. While some leagues have resumed, matches have been played behind closed doors and in eerie silence. The Dutch football association (KNVB) said on Thursday that domestic soccer in the Netherlands would resume in September with 15% to 35% of the stadium available for spectators but with no away supporters allowed. | Reuters
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Pretoria News Weekend July 11 2020

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