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
Davis Tax Committee invites submissions on wealth tax to tackle inequality

Davis Tax Committee invites submissions on wealth tax to tackle inequality

Stephen Grootes speaks to Xhanti Payi and Prof Patrick Bond about the feasibility of wealth tax, and how it will benefit the poor.

"I never apologised" Gwede Mantashe

"I never apologised" Gwede Mantashe

ANC sec gen dismisses Zuma's claims in court papers that Mantashe and Ramaphosa apologised to him as factional divide deepens.

Kenyan primaries deadline extended

Kenyan primaries deadline extended

The court has granted Kenyan political parties 5-day extension to nominate their candidates for the upcoming August elections.

Cabin crew members compare themselves with pilots - SAA

Cabin crew members compare themselves with pilots - SAA

South African Airways (SAA) says four flights have been cancelled, and two delayed due to the strike by cabin crew members.

Parliament can't intervene on Ntlemeza/Mbalula stand-off yet

Parliament can't intervene on Ntlemeza/Mbalula stand-off yet

Parly portfolio committee on police, chair Francois Beukman, says Parliament cannot intervene on the matter until the court ruling

702 opens Walk the Talk entries, welcomes new sponsor MTN SA

702 opens Walk the Talk entries, welcomes new sponsor MTN SA

702 has officially launched The MTN Walk the Talk with 702 for 2017, and the 15-year event is getting better and bigger.

Popular articles
Meet self-made millionaire (net worth – R400m!) property mogul Sisa Ngebulana

Meet self-made millionaire (net worth – R400m!) property mogul Sisa Ngebulana

How did Ngebulana build his empire? The Money Show’s Bruce Whitfield interviewed him for his weekly “ShapeShifter” feature.

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.

'I wanted lots of money!' - Andile Mazwai (National Stokvel Association of SA)

'I wanted lots of money!' - Andile Mazwai (National Stokvel Association of SA)

Bruce Whitfield interviews Stokvel Association CEO Andile Mazwai about his attitude to money (hopes, fears, successes, failures).

NSFAS to reopen 2017 applications

NSFAS to reopen 2017 applications

National Student Financial Aid Scheme says it will reopen 2017 loan applications after receiving requests for deadline extension.

John Berks ("the least amiable man on radio") hilariously opens up about money

John Berks ("the least amiable man on radio") hilariously opens up about money

What does 702’s former Breakfast Show host John Berks believe, hope for and fear about money? Does he have, and want, lots of it?

3 easy questions could bag you R2000!

3 easy questions could bag you R2000!

WIN R2000! But only if you can prove you're a whiz of the MTN Biz Quiz by answering the following three questions...

Blesserfinder: Matching you with a sugar daddy near you

Blesserfinder: Matching you with a sugar daddy near you

Is social trend Blesserfinder, where girls are allegedly matching up with rich 'benefactors' in exchange for sex, a real thing?