Old Mutual has no view on independent Futuregrowth's decision

Old Mutual Chief Executive Dave Macready, says Old Mutual has no view on Futuregrowth Asset Management's decision to suspend loans to six state-owned enterprises.

He says Futuregrowth's decisions are independent of Old Mutual.

We certainly don't have an Old Mutual view on this, and we are very clear that this is an independent investment view by one of our independent boutiques.

Dave Macready, Old Mutual CEO

What we have tried to do today is to highlight that it's an independent investment decision, and also to highlight that it relates to future funding, not existing funding.

Dave Macready, Old Mutual CEO

Listen to the full interview below...

Futuregrowth said its decision was due to concern about how the state-owned enterprises are managed, along with government infighting and threats to the independence of the Treasury.

The SOEs include Eskom, South African National Road Agency Limited, Transnet, the Land Bank, the Independent Development Corporation and the Development Bank.

Read More
Trump bans funding to US abortion groups from international NGOs.

Trump bans funding to US abortion groups from international NGOs.

US President Donald Trump has also pulled the USA out of the Trans-Pacific Partnership trade deal.

Over R14 million unpaid traffic fines due to licensing centre corruption

Over R14 million unpaid traffic fines due to licensing centre corruption

City of Johannesburg has suspended 70 employees working at the Metro's licensing centres for alleged corruption.

Health Dept request for medical aid members details may breach privacy - lawyer

Health Dept request for medical aid members details may breach privacy - lawyer

The department asked medical aid schemes to submit names and addresses of their members for the department's database.

Parliament to begin appointing SABC interim board

Parliament to begin appointing SABC interim board

Parliament Communications Committee has tasked political parties to recommend names of people to serve on the SABC interim board.

Power dynamics, racism and culture determines what is vulgar

Power dynamics, racism and culture determines what is vulgar

Eusebius McKaiser unpacks vulgarity in art and discusses whether offensive or "vulgar" language has a place in public discourse.

EFF will deal with Absa in its own time - Malema

EFF will deal with Absa in its own time - Malema

Julius Malema says EFF will still deal with Absa, but in its own time and will not join BLF's Occupy Absa campaign.

Popular articles
Driving lessons to be incorporated into SA school's curriculum

Driving lessons to be incorporated into SA school's curriculum

Spokesperson for Transport Minister, Dipou Peters, says learners will be given an opportunity to become good and safe drivers.

LISTEN: I paid for sound system from my own personal account - Phahlane

LISTEN: I paid for sound system from my own personal account - Phahlane

Acting National Police Commissioner Khomotso Phahlane says he paid for his R80 0000 sound system at his house in Pretoria.

Public servants to have their red carpet moment at SA politician awards

Public servants to have their red carpet moment at SA politician awards

The brains behind the South African Politician Awards denies that he is hosting the event to rub shoulders with political bigwigs.

Madonsela warns against appointing woman President as a proxy

Madonsela warns against appointing woman President as a proxy

Former Public Protector Advocate Thuli Madonsela addressed the Cape Town Press Club on a number of issues.

Lumka Oliphant sorry for insulting women while defending Minister

Lumka Oliphant sorry for insulting women while defending Minister

Minister Bathabile Dlamini's spokesperson says people should stop spreading lies that minister drinks alcohol.

It's not the end of the road... Top tips to improve your matric

It's not the end of the road... Top tips to improve your matric

"Recognise that it’s not the end, it’s the beginning." Expert advise for school-leavers who want to improve their results.

Meet Chuma Somdaka, a homeless artist who blogs about art

Meet Chuma Somdaka, a homeless artist who blogs about art

Chuma spends her days making art and her nights on a bench in The Company's Garden in Cape Town where she displays her artwork.