CEO editorial – Quarter 3 2024
Gary Mockler
Group Chief Executive Officer
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There’s an old adage about never looking a gift horse in the mouth. Coinciding our quarterly investment report with a strong three months of investment performance is kind of a gift horse and GTC is enjoying the opportunity of presenting this good news.
Despite there still being potential obstacles (and it’s probably prudent to temper the prevailing positive investment news), as per the investment reports that were sent out last week, local markets had a good three months, global markets enjoyed the same, and the rand strengthened against the dollar
(or more accurately, the dollar weakened against the rand). Nearly half of that performance came about in September.
Some GTC unit trusts are having their names changed
Starting several years ago GTC set out to align our portfolio names for both our private investor and our retirement fund portfolios. We also wanted portfolio names to be as descriptive and informative as possible. Accordingly, after receiving the necessary regulatory approvals, four GTC unit trusts are changing their names. You will note these changes on the Minimum Disclosure Documents (MDD) and our website.
This quarter’s Trendline content
In addition to the favourable investment news (at least for the past quarter) that I’m able to communicate, several articles in the forthcoming Trendline are particularly noteworthy. Insightful, thought-provoking, and advisory in their content, I’d recommend a read of each of these:
Dave Johnson (an independent trustee and contractor to GTC) writes about the long-term process of educating and supporting a family of children (four sons in his case), as each of them progressively reaches their gradual independence.
Manty Seligman, head of GTC’s Asset Management, has strong (GTC) views on the SARB’s (overly) cautious rate cut announced in September.
GTC’s wealth managers collectively reflect on what retirement fund members were using their Two-pot withdrawals for, cautioning that in many instances these withdrawals did not constitute ‘emergency funding’ as was originally envisaged by Government.
Kyle Jeacocks, representing a more Millennial GTC perspective (perhaps), writes about the lost investment opportunity caused by delay and procrastination. Over the years we have written many articles (and I’m sure we will continue to do so) that advocate the fundamental principles of time and compounding interest. Kyle’s article is a more complex view of this.
GTC’s continued sponsorship of the Johannesburg Symphony Orchestra
Now in our 10th year, GTC is again hosting the JSO at the Linder Auditorium on Sunday 3 November at which 13 young and talented soloists will be performing together with the orchestra. We conventionally invite all our clients who have expressed an interest in the arts and who are domiciled in the Gauteng area. If you would like to attend these sort of social engagements and have not received an invitation, please do let us know at marketing@gtc.co.za
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