Weak rand sees massive outflows of assets

“The rand’s depreciation has led our South African institutional clients to move sizable assets abroad,” said Anthony Ginsberg, Managing Director of GinsGlobal Index Funds, on Bruce Whitfield’s The Money Show.

“The rand would be substantially weaker in our view, if it were not for remaining exchange control limitations on institutional (pension) assets.

“Unfortunately, most of the press in the US only seems to cover negative news from South Africa regarding the new visa restrictions and load shedding,” said Ginsberg.

Scroll down to listen to the audio for a discussion by Ginsberg about the rand, the current US economy and America’s take on the financial meltdowns in Greece and China.

He also touches on the nuclear deal with Iran.

US GDP growth will be much better than what we’ll get in South Africa. The US economy is picking up significantly.

Anthony Ginsberg, Managing Director of GinsGlobal Index Funds

Emerging markets and South Africa have been picked on and their currencies have all suffered.

Anthony Ginsberg, Managing Director of GinsGlobal Index Funds

My clients have in the past 12 months moved a lot of money offshore.

Anthony Ginsberg, Managing Director of GinsGlobal Index Funds

A third of SA’s bond market is owned by foreigners. If they pull out the rand will tank.

Anthony Ginsberg, Managing Director of GinsGlobal Index Funds

We have a jobs crisis in SA. Dis tyd om wakker te skrik! There are a lot of things we can do to stimulate growth.

Anthony Ginsberg, Managing Director of GinsGlobal Index Funds

People in the US want to come here to spend money. They want to tour! We shouldn’t shoot ourselves in the foot like we’re doing.

Anthony Ginsberg, Managing Director of GinsGlobal Index Funds

702 welcomes all comments that are constructive, contribute to discussions in a meaningful manner and take stories forward.

However, we will NOT condone the following:

  • Racism (including offensive comments based on ethnicity and nationality)
  • Sexism
  • Homophobia
  • Religious intolerance
  • Cyber bullying
  • Hate speech
  • Derogatory language
  • Comments inciting violence.

We ask that your comments remain relevant to the articles they appear on and do not include general banter or conversation as this dilutes the effectiveness of the comments section.

We strive to make the 702 community a safe and welcoming space for all.

702 reserves the right to: 1) remove any comments that do not follow the above guidelines; and, 2) ban users who repeatedly infringe the rules.

Should you find any comments upsetting or offensive you can also flag them and we will assess it against our guidelines.

702 is constantly reviewing its comments policy in order to create an environment conducive to constructive conversations.

Read More
Is the economy really as bad as it looks and feels? Yes, it is...

Is the economy really as bad as it looks and feels? Yes, it is...

Chinese stocks are still plummeting, mining will soon hemorrhage jobs and the rand is toast. Is the sky really falling?

"Chinese GDP growth is massively overstated. In reality it's close to 0%"

"Chinese GDP growth is massively overstated. In reality it's close to 0%"

Chinese growth is close to 0% and could pull South Africa into an outright recession, warns Chris Hart of Investment Solutions.

Why China’s stock market is imploding

Why China’s stock market is imploding

China is a having a market meltdown of truly epic proportions. Here's why...

Is Naspers too dependent on Tencent?

Is Naspers too dependent on Tencent?

We interviewed Naspers CEO Bob van Dijk about the perceived over-reliance of his company on Chinese behemoth Tencent.

Naspers owned Tencent now world’s 11th the most valuable brand (1st in China)

Naspers owned Tencent now world’s 11th the most valuable brand (1st in China)

Internet services company Tencent Holdings, in which Naspers has a 34 percent stake, has surpassed Facebook in brand value.

Naspers owned Tencent buys stake in Kim Kardashian game developer Glu Mobile

Naspers owned Tencent buys stake in Kim Kardashian game developer Glu Mobile

The Chinese tech-firm will pay R1.5bn for a 15 percent stake in the US developer famous for its hit "Kim Kardashian: Hollywood”.

Chinese economic growth hits 24-year low

Chinese economic growth hits 24-year low

“The country's period of miraculous break-neck growth is over,” said the state-run Xinhua News Agency.

Popular articles
Dr Mbuyiseni Ndlozi opens up about his thesis

Dr Mbuyiseni Ndlozi opens up about his thesis

Ndlozi explains the significance of the the first chapter of his thesis: 'Trauma in the archives'.

German prosecutors probing Steinhoff CEO Markus Jooste (for accounting fraud)

German prosecutors probing Steinhoff CEO Markus Jooste (for accounting fraud)

The Money Show’s Bruce Whitfield interviews Steinhoff International Chairperson Christo Wiese.

So what exactly is radical economic transformation?

So what exactly is radical economic transformation?

Wits associate professor of economics Christopher Malikane speaks to Azania Mosaka about the term that is being bandied about.

Is it normal to have a curved penis? Dr Shingai explains

Is it normal to have a curved penis? Dr Shingai explains

Urologist Dr Shingai Mutambirwa says penile curvature is only a concern if it impedes a man's ability to have penetrative sex.

Who is Advocate Tembeka Ngcukaitobi?

Who is Advocate Tembeka Ngcukaitobi?

The EFF lawyer stole the show during the state capture report court battle.

Meet Shoprite’s Christo Wiese, ruler of retail (and 3rd richest African)

Meet Shoprite’s Christo Wiese, ruler of retail (and 3rd richest African)

Bruce Whitfield interviews the remarkable Wiese (net worth R100 billion!) about how it all began and where it’s going.

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?