The Personal Finance series with Warren Ingram

Few retirement funds unaffected by Steinhoff implosion (i.e. you just got had)

There’s really not much you can do.

Peter Calitz

A share in Steinhoff set you back R90 as late as June last year.

On Thursday it was trading around R10.

Millions of South Africans will feel the impact.

Steinhoff is, or was, one of South Africa’s largest companies.

It is held by a whopping 341 funds – in other words, very probably yours.

The Money Show’s Bruce Whitfield asked Certified Financial Planner Peter Calitz to explain the effect of this extraordinary event on your money.

For more detail; listen to the interview in the audio below.

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