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Warning

The Financial Sector Conduct Authority (FSCA) says you need to be cautious when receiving correspondence purporting to come from a company called Menblack. The suspicious correspondence offers an investment opportunity that promises profits within seven days. Menblack is a legitimate company and authorised financial services provider. It told the FSCA that it had not issued any such correspondence. Menblack confirmed that its name, financial services provider number and information on their website is being fraudulently used to lure members of the public to invest in a suspected scam. You should always check that an entity or individual is registered with the FSCA to provide financial advisory services. Call either the toll-free number (0800 110 443) or go to www.fsca.co.za/fais/search_fsp.htm

EFTS & ENTS

At the end of 2021, the market capitalisation of the South African exchange traded product (ETP) industry stood at R136 049 million, an increase of 22.5% on the R111 026 million at the end of 2020, reports Mike Brown, head of ETP platform etfsa.co.za. ETPS are made up of exchange traded funds

(ETFS) and exchange traded notes (ETNS). The growth of the industry last year was propelled largely by the good returns on the global and local equity markets, which raised the market capitalisation of the companies and assets covered by the ETP portfolios. However, there was also some new capital raised by new and existing ETPS – almost R5 196 million was raised in 2021 in this manner. The number of ETFS and ETNS in issue grew from 137 to 168, Brown reports.

Personal Finance

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2022-01-15T08:00:00.0000000Z

2022-01-15T08:00:00.0000000Z

https://thestar.pressreader.com/article/282102050035689

African News Agency