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June 2021 – Monthly Newsletter

The Protection of Personal Information Act 4 of 2013 comes into effect on 1st July 2021.

Purpose of the Act

The Act [inter alia]

  • Gives effect to the constitutional right to privacy by safeguarding personal information when processed by a responsible party.
  • It regulates the way personal information may be processed by establishing conditions, in harmony with international standards.
  • It provides persons with rights and remedies to protect their personal information from processing that is not in accordance with this Act.

Rights of clients

The clients of Kevin Mills Financial Services cc have the right to:

  1. To be notified that personal information about him, her or it is being collected.
  2. To establish whether Kevin Mills Financial Services cc holds personal information and request access to his, her or its personal information.
  3. To request where necessary, the correction, destruction or deletion of his, her or its personal information.
  4. To object on reasonable grounds to the processing of his, her or its personal information at any time for purposes of direct marketing by means of unsolicited electronic communications.
  5. Not to have his, her or its personal information processed for the purposes of direct marketing by means of unsolicited electronic communications.
  6. To submit a complaint to the Regulator regarding the alleged interference with the protection of personal information.
  7. To institute civil proceedings regarding the alleged interference with the protection of his, her or its personal information.

Notification to clients

If personal information is collected, Kevin Mills Financial Services cc must take reasonably practical steps to ensure that the client is aware of:

  1. The information being collected and the source from which the information is being collected from.
  2. The name and address of Kevin Mills Financial Services cc.
  3. The purpose for which the information is being collected.
  4. Whether the supply of information by the client is voluntary or mandatory.
  5. Consequences of failure to provide the information.
  6. Any particular law authorizing or requiring the collection of the information.
  7. The fact that, where applicable, Kevin Mills Financial Services cc intends to transfer the information to a third country or international organisation and the level of protection afforded to the information by that third country or international organisation.
  8. The recipient or category of recipient of the information.
  9. The nature and category of the information.
  10. The existence of the right of access and to the right to rectify the information collected.
  11. The existence of the right to object to the processing of personal information.
  12. The right to lodge a complaint to the Information Regulator.

The Information Regulators Contact details are:

The Information Regulator (South Africa)

JD House, 27 Stiemens Street, Braamfontein, Johannesburg, 2001

P.O Box 31533, Braamfontein, Johannesburg, 2017

Website: https://www.justice.gov.za/inforeg/

Complaints email: complaints.IR@justice.gov.za

General enquiries email: inforeg@justice.gov.za.

Kevin Mills Financial Services cc pledges that all our clients’ personal information will be confidential and will not be disclosed or made available to third parties unless instructed to do so by our client in writing or if Kevin Mills Financial Services cc is required to divulge personal information in the public interest or under any law.

April 2021 – Monthly Newsletter

Closing of ABSA Money Market Fund

Yesterday ABSA announced the closing of their ABSA Money Market Fund. ABSA have announced investors have 90 days in which to withdraw their funds, switch out of the ABSA Money Market Fund or after 90 days the funds will be transferred into an ABSA investment bank account.

Earlier this month we sent investors information on the Marriott High Income Fund as an alternative to fixed deposits and money market investments. The Marriott High Income Fund is a Multi-asset Income Fund that is currently yielding 6%. With interest rates currently at very depressed levels, this is an attractive investment return for investors seeking an income from their savings whilst not wanting to be exposed to higher levels of risk. To find out more about the Marriott High Income Fund please click the link.

For investors who wish to remain invested in Money Market funds we are also able to provide a variety of alternative Money Market funds where the yield varies between 4 – 4.5% per annum. To find out more information on how to invest please click here.  

March 2021 – Monthly Newsletter

An alternative to cash and money market investments

Over the past year, the South African Reserve Bank (SARB) has cut interest rates by 3%. Investments in call accounts, fixed deposits and money market accounts are currently yielding between 3 – 4.5% per annum.

The Marriott High Income Fund is a low-risk unit trust fund that has a primary objective of providing investors with a high-income yield as well as protecting investor’s capital over the term of the investment.

Marriott High Income Fund has a proven track record of providing investors with a predictable high level of income. Marriott High Income Fund has consistently provided inflation-beating returns whilst protecting investor’s capital.

  • Entry yield of 6.08%
  • Suitable for investors looking for an alternative to cash
  • No fixed term on the investment, funds readily realisable

The Fund is actively managed and due to its flexible mandate, we believe the portfolio will continue to deliver inflation-beating returns whilst protecting capital over a 24 month period. For more information or to discuss how to invest in the Marriott High Income Fund please contact Kevin or Greg on 041 373 0601.

we believe the portfolio will continue to deliver inflation-beating returns whilst protecting capital over a 24 month period. For more information or to discuss how to invest in the Marriott High Income Fund please contact Kevin or Greg on 041 373 0601.

Financial Services Conduct Authority (FSCA) issues second crypto health warning for consumers

Last week the FSCA noted once again, the large number of investors who have reported financial losses from investing in Crypto assets. The FSCA again reminded consumers who wish to invest in any investment asset or product – specifically unregulated, risky ones such as cryptos – that if it sounds too good to be true, it usually is! Consumer caution is strongly advised to avoid painful or catastrophic financial losses.  To read more of the FSCA’s warning please click on the link.