No Withdrawal Penalties At SIMS
Monday, August 27, 2007
SIMS Broker Consultant, Thabo Moipolai, revealed this last Thursday when presenting the unit trust to potential customers at Marang Residency, a part of Marang Hotel, in Francistown. Moipolai told Monitor Business that the equity fund would be launched in a month's time "if the regulator gives us the go ahead."
He said the equity fund will offer investors further options in the product range offered by SIMS. SIMS was presenting its new products, the Managed Prudential Fund and the Money Market Fund, which are intended to offer investors more options in its product range.
Whilst celebrating milestones in inclusivity, with notably P5 billion awarded to vulnerable groups, the report sounds a 'siren' on a dangerous and growing trend: the ballooning use of micro-procurement. That this method, designed for small-scale, efficient purchases, now accounts for a staggering 25% (P8 billion) of total procurement value is not a sign of agility, but a 'red flag'. The PPRA’s warning is unequivocal and must be...