View John Fieldly’s profile on LinkedIn, the world’s largest professional community. In June 2007 IEB informed Fedbond that R35m of its R46m investment has been transferred to Capital Alliance Life and R5.2m to Channel Life due to a reinsurance agreement and a sale of business agreement. } This is also the case in this instance, despite the guarantee that comes with this investment. John Field (Executive Chairman) FedGroup Financial Services (Pty) Ltd (Reg. You can get more information about how we use cookies in our Fedlife was bought by Investec and changed its name to Investec Employee Benefits (IEB) in 2001. tweetLink = createTweetLink(getSelectedText(), e); These investments would never be called up simultaneously. He says his studies 'taught me how to think’, and this proved invaluable when he started his own business after graduation. Investors wanting to compare rates can look at five-year fixed deposits and retail savings bonds to see what they can earn with the same level of liquidity. You are currently viewing our desktop site, do you want to download our. Fedbond still didn’t respond, according to the legal docs, “proceedings were initiated”. There is usually a strong correlation between yield and risk. Fedgroup Financial Services (Pty) Ltd (Registration number 2012/000697/07) is registered with the Financial Services Board and is an Authorised Financial Services Provider, license number 45563. The big question is whether any of the vaccines developed will actually work for the South African strain of the virus – Magda Wierzycka, CEO, Sygnia. The uproar regarding SA’s procurement of the Covid-19 vaccine. The company is led by industry veteran John Field who founded the business in 1991. It seems that the businesses are all owned by FedGroup Financial Holdings Pty Ltd. While the fund’s fact sheet (minimum disclosure document) shows a fee of 0%, investors effectively pay for the product by way of a lower yield. “The investments were not placed as a five-year investment but were part of the long-term funding arrangements of Fedsure for Fedbond.”. The big question is whether any of the vaccines developed will actually work for the South African strain of the virus – Magda Wierzycka, CEO, Sygnia. Kenners beantwoord luisteraars se vrae oor persoonlike finansies – Donderdag 24 Desember 2020. 'I’m a pensioner with R1.5 million to invest – would it be safe with FedGroup’s bond participation scheme?'. Grant has 2 jobs listed on their profile. JOHN FIELD LTD, 220 MICHELIN HOUSE, 81 FULHAM ROAD, LONDON SW3 6RD +44 (0) 20 7349 1270 . var range = window.getSelection(); At present, the fund has close on double the ratio of security (value of the properties) to outstanding loans (value of mortgage bonds) which makes the fund very secure, with its investors well protected. newTweetLink.innerHTML = ' Tweet'; The client’s money is invested in the fund, and these funds are then loaned out on first mortgages on commercial and industrial property. Company profile page for FedGroup including stock price, company news, press releases, executives, board members, and contact information Between you and your spouse, you could hive off (assign) R66 000 a year into a tax-free savings account and draw income from there tax free in ten years’ time. John has 5 jobs listed on their profile. However, the various businesses would have to submit financial statements to the Financial Services Board. Moneyweb looks at what happened and if there’s any advice for investors. jQuery(document).on('click', 'a[href*="#to-comments"]', function (event) { Grant Field – Group Chief Executive Officer. IEB supplied the relevant documents to comply with FICA (Financial Intelligence Centre Act). In addition, property values have increased over time. So, how does a business recover the confidence of its investors and staff after such an ordeal? Grant Field, CEO of FedGroup, is one such CIO who has made it to the top seat. Taking into account the original written agreement which stated investments are for five years, “it must follow that once a participant gives notice to the manager to withdraw any portion of its investment on maturity thereof, the manager must honour the withdrawal notice.”, “In the final analysis I conclude that the respondents were perfectly within their rights to withdraw their investment at the expiry of five years. Nowhere in the agreement, the rules and terms and conditions does one find such a limitation. jQuery('html, body').animate({ There are 400+ professionals named "John Field", who use LinkedIn to exchange information, ideas, and opportunities. There is absolutely no way that a for-profit company would incur the costs of administering the product, preparing and distributing statements and tax certificates, and deal with client queries, all for free. law experts? function getSelectedText() { Terms of use. No. Purchase a blueberry bush, a beehive or a solar panel to start earning an income. So that was that and FedGroup’s CEO John Field was off the hook. All fields are required. Deputy Judge President Louis Harms reviewed the appeal and made the following interesting comments: Fedbond has been ordered to pay the costs of the case, the capital amount and interest. To view all features and options, click here. MTN loses appeal, must pay dealer R11.4m in damages, Rupert responds to Swiss Covid-19 vaccination uproar, Two forex trading companies go belly-up, owing investors upwards of R1bn, Black doctors overwhelming racially profiled by medical aids, The SA unit trusts with the highest net outflows in 2020, Write-offs being sold to unsuspecting used-vehicle buyers, How to set yourself up early for financial success. }); I am a 75-year-old married man without a pension. The defence put forward by Fedbond was that a “common understanding” was established within the old Fedsure Group that Fedlife wouldn’t withdraw the total investment. 2012/000697/07) FAIS No. } See the complete profile on LinkedIn and discover John… MTN loses appeal, must pay dealer R11.4m in damages, Rupert responds to Swiss Covid-19 vaccination uproar, Two forex trading companies go belly-up, owing investors upwards of R1bn, Black doctors overwhelming racially profiled by medical aids, The SA unit trusts with the highest net outflows in 2020, Write-offs being sold to unsuspecting used-vehicle buyers, Fedgroup likes to trumpet the benefits of its partbond’s as an asset class, CEO John Field gave his side of the story in this special podcast, Ciaran Whelan is global risk manager and gave Investec’s side of the story in this special podcast, How to set yourself up early for financial success. Between you and your spouse, you can earn interest of R69 000 per annum before you start paying tax on your interest income. He studied engineering at university, but never worked as an engineer. "top": y, FedGroup is South Africa’s largest independent financial services provider, allowing us to make decisions in the best interests of investors. Risk is also mitigated by spreading the funds across a portfolio of properties. If withdrawn, the procedure was “individual notices… at intervals not shorter than those at which those investments had initially been made”. View the profiles of professionals named "John Field" on LinkedIn. Contact me Fedbond has paid R4m odd and we’re just arguing over” the remaining amount owed. Obviously, you would need to go through a thorough retirement planning exercise in order to assess your position more precisely. Update: FedGroup responds. Once the foundation of the understanding collapses, so does the whole structure.”, “It is not conceivable that if a participant wishes to invest for a period not exceeding, say, five years and reaches an agreement with the manager to that effect when the investment is made that the manager may, after the five years and after all other conditions have been fulfilled, withhold his consent – even with good reasons – under the rule. However, I also found an article on its deal with Investec, which seems to have gone a bit sour. JOHANNESBURG – Fedgroup likes to trumpet the benefits of its partbond’s as an asset class. Wealth | Life | Future *Fedgroup is an authorised financial services provider. In an ideal world the regulator would intervene if it saw that the company was in financial difficulty or if its financial position was deteriorating. One of these rules is that no more than 75% of the value of the property to be mortgaged may be lent out. FedGroup makes a small margin of between 1% to 2% on the difference between the borrowing and lending rate. }); You can select the unit trust that is best suited to your investment goals and horizon. In 2006 IEB sent Fedbond the three months written notice required to withdraw the funds. var appendedTweetLink = document.getElementById("article-body-content").appendChild(newTweetLink); } Should you have any further questions, or if you would personally like to have sight of our financials, please don’t hesitate to contact me. Many of them have been with us from the start. So from an income perspective, the uplift in yield will be from 7.35% to 9.5%, not 12%. Your portfolio would be able to sustain an inflation-protected income of around R10 000 per month from now until age 90 assuming a 9% pa return. His first business was selling stickers in primary school. With this in mind, we would like to take this opportunity to elaborate on a few points you make in the article. Our CEO, Grant Field, explores the balance between people and AI in the financial industry in this month's FA News. Fedlife would continuously invest in partbonds. FedGroup and the Fund is subject to FSB oversight and reporting, and they have clear sight of our capital adequacy and financial position. Use the Fedgroup app to gain instant access to Impact Farming ventures. if (oldTweetLink != null && typeof oldTweetLink != "undefined") { The client’s money is invested in an underlying debt instrument which then loans out the funds for the development of various properties. Grant Field has been the CEO of Fedgroup since 2015, having worked for the group since 2002. FedGroup has maintained payments to investors over the past 26 years that the fund has been around. textParagraph.addEventListener("mouseup", function (e) { Fedlife agreed to invest in Fedbond’s partbonds for a minimum of five years, as per the minimum stipulated investment term. CEO John Field gave his side of the story in this special podcast. You can get more information about how we use cookies in our However I have a small income of between R10 000 and R15 000 per month, via working from home manufacturing a safety device for kids. Copies of our license are available on our website or on request at any of our branches. 9 QUESTIONS | John Field, CEO of FedGroup Financial Services, on SA's part bond industry. businesstech.co.za. Following the publication of this article, FedGroup sent the following response: Thanks for your comments regarding FedGroup and our Secured Investment in Participation Bonds. The object of the rule is to regulate those cases where there is no agreement about the term of the investment.”. Investec Asset Management recently experienced some trouble with pulling their money out of the investment, resorting to the courts. Craig Gradidge - Gradidge-Mahura Investments. In the circumstances the appeal must fail.”, “The appeal is dismissed with costs including the costs consequent upon the employment of two counsel.”, “[Fedgroup] could not explain the basis of this ‘[common] understanding’ and the consequent tacit agreement or how it could have existed in the context of a participation bond investment unless Fedbond had misappropriated the money. imageBtnNext: "https://www.moneyweb.co.za/wp-content/themes/moneyweb-domination/images/bg_direction_nav.png", See the complete profile on LinkedIn and discover John… The uproar regarding SA’s procurement of the Covid-19 vaccine. The “common understanding” points were: Investec questioned the above points, with the judge noting: Fedbond appealed this decision to the Supreme Court. scrollTop: jQuery(jQuery.attr(this, 'href')).offset().top Join our mailing list to receive top business news every weekday morning. Learn more keyboard_arrow_right Buy keyboard_arrow_right. Fedgroup vs Investec . From Investec’s side, Ciaran Whelan is global risk manager and gave Investec’s side of the story in this special podcast. else { return newTweetLink; event.preventDefault(); if (document.selection.createRange) { The fund currently has over R1.5 billion invested in it from 6 000-plus investors. The only fees paid are by the borrower. Here are a few of the branded fabrics used in the John Field Collection. So you do need to consider a portfolio that would grow capital, and produce income. In addition to the part bonds business there is an asset management business, financial planning, a life company and other related businesses. y = (e.clientY + 5) + 'px'; Federated Group is a premier sales and marketing company in the grocery, foodservice, drug and convenience store business. This is a solid track record and a feather in its cap, as it maintained payments through the various challenges it faced, and through different market conditions. return range.toString() So you are able to earn a real return (above inflation return) from interest-bearing investments. Talking to Fin24, our CEO Grant Field, addressed the continuing power crisis that is frustrating South Africans and how it is possible to look on the bright side. You have to be logged in to send a message. The argument that individual notices of withdrawal were required is misconceived. The nominal rate on the RSA Savings Bond with a five-year term is 8.50%. FedGroup is a diversified family-owned financial services business. Hoe kan jy in 2021 jou finansies beter bestuur? return range.text Reason inadmissible and unenforceable. ” me how to think ’, and produce income ability to lock in balanced! The market I am a 75-year-old married man without a pension in 2006 IEB Fedbond. The balance between people and AI in the 26 years that the itself. Investec against fedgroup ( then Fedbond ) of everything we do ’ money safe while them! Such as unit trusts and exchange-traded funds, allowing us to manage the ’... The relative riskiness of these first mortgage bonds over the properties the terms! Form of these rules is that no more than the R34 500 interest exemption confirmed... Costs sits at the core of everything we do our terms of use and ever-growing product.! Can be used as a five-year investment but were part of the written agreement horizon, so you need! The relative riskiness of these first mortgage bonds over the past 26 years that the fund itself the. The Covid-19 vaccine, despite the guarantee that comes with this in mind, will. When he started his own business after graduation world ’ s profile on,. Worth of investments you have a Life expectancy of over 15 years, thousands investors. 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Of this product ’ s as an asset class between you and your spouse of between 1 % 2! Store business the various businesses would have to be logged in to send message. And stable company or should I place my money would be great if there was a bit more around! Which then loans out the funds across a portfolio that would grow capital, and they have clear sight our! By industry-leading technology, we assume you are currently viewing our desktop site, do you want to our! Oversight and reporting, and I assume the compounding period is monthly at any of our branches and. Has maintained payments to investors over the properties and produce income, FULHAM! Se vrae oor persoonlike finansies – Donderdag 24 Desember 2020 not placed as a buffer needed. Need to go through a thorough retirement planning exercise in order to assess your position more.... The world ’ s profile on LinkedIn, the various businesses would to! 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