n Personal Finance Newsletter - Smooth bonus products - the devil is in the detail : long-term investments
|Article Title||Smooth bonus products - the devil is in the detail : long-term investments|
|© Publisher:||Moneyweb (Pty) Ltd|
|Journal||Personal Finance Newsletter|
|Publication Date||Aug 2006|
|Pages||6 - 9|
Extracted from text ... Moneyweb's PERSONAL FINANCE LONG-TERM INVESTMENTS Smooth bonus products - the devil is in the detail Beware: these investments are not what they seem, despite protestations from senior life industry players. By JACKIE CAMERON PENSION Funds' Adjudicator Vuyani Ngalwana has turned his spotlight on smooth bonus retirement products. A smooth bonus fund provides returns in the form of bonuses. The theory is that in bumper investment years, the bonus will be lower than the markets, and in poor years it will be higher than a market-related portfolio. These products are sold on the understanding that the longterm return will be ..
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