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The Momentum Global Matters logo against a faded multistory office building backdrop and a light blue sky.

Global Matters: investing offshore

The world of offshore investing can seem quite daunting, but doesn’t have to be. To cut through the complexity, Momentum Investments has launched a world class portal to address all your offshore investment concerns, challenges and even share best practice. Visit our Global Matters portal for independent views on offshore investment advice, legislation and top-of-mind matters to structure and get your clients to their investment goals.

Events

A black and red silhouette of the New York City skyline.

The Global Matters event

We unveiled our two flagship global equity funds. Managed by our London office, Momentum Global Investment Management (MGIM), these large and long-established global equity solutions are already available to investors in other countries across the world and now available to investors in South Africa too.

A Think-Tank virtual 2021 conference poster

Think-Tank

2021 was the 20th year we held ‘Think-Tank’, which is designed to give our largest intermediary and wealth management clients substantive investment thinking and ideas. Delegates attend from the UK, Europe, Asia, Australia, the Middle East, Latin America, North America
and Africa.

Global Matters Weekly

Our weekly blogs are aimed at providing our rapidly expanding global client base with a good mix of deep investment insights, combined with a topical twist and an improved, easy-to-digest tone.

25 April 2022

Investing goals

Stephen Nguyen, CFA

If we look at successful sports teams or individuals, there are lots of similarities that can be drawn between them and professional investors.





11 April 2022

Whatever it takes, China

Lorenzo La Posta, CFA

We warrant caution, but we are constructive on China, because of the cheaper valuation of local asset classes and partly because of the attractiveness of a deep equity market.




07 April 2022

Jordy Shore

Alex Harvey, CFA

Working with teams that exemplify the high standards required of sustainable investors, we invest in strategies where there is an active desire to ‘do the right thing’ and facilitate change through engagement.



28 MARCH 2022

It’s lights out and
away we go

Matt Connor

Our long-term, value-focused approach allows us to invest in companies that can provide shareholder value over the long haul, and in the short term, we can take advantage of opportunities that may arise.




21 MARCH 2022

Metaverse: real estate

Jackson Franks

We are constantly looking for new opportunities to add value for our investors, but as of today, the metaverse is not one.





14 March 2022

Mind the gap

Mark Wright, CFA

At Momentum Global Investment Management, we do not claim to be specialists in emerging markets, instead entrusting our clients hard-earned savings with specialist global emerging market managers.




7 March 2022

Goodbye to Greenwashers

Michael Clough, CFA

The last two years have seen a huge increase in demand for sustainable funds, and greenwashing was an inevitable consequence. The question is: who is genuine?




28 FEBRUARY 2022

Style Box

Tom Delic

Boxing styles will ultimately determine how exciting a fight is. This is not too dissimilar to investment styles, where some work better together than others.




21 FEBRUARY 2022

Taking the (not so) long view

Robert White, CFA

While investors cannot control their natural behavioural instincts, nor the overall direction of markets, we should focus on what we can control.





14 FEBRUARY 2022

The Boutique Premium

Gary Moglione

I have no doubt there are lots of things in which bigger is better in asset management. The one area in which bigger may not be better is performance.





07 February 2022

Staying ahead of the game

Richard Parfect

We are in for a bumpy ride as policies and markets readjust to what is likely to be a longer period of higher energy costs than people initially thought.





31 JANUARY 2022

New Year’s revolutions

Andrew Hardy, CFA

New Year’s resolutions rarely last beyond the end of January, but the revolution unravelling in markets may well prove more enduring.





24 JANUARY 2022

DiversiChination

Lorenzo La Posta, CFA

“Diversification”, you might have seen in our articles, is “the only free lunch in finance”. Now, everyone loves a free meal, but certainly, you’re not going to eat it only because it’s free, am I right?




17 JANUARY 2022

Making money in bonds

Richard Stutley, CFA

Last year, US Treasuries suffered one of their worst years this century. But what does 2022 hold for interest rates and bonds?





10 JANUARY 2022

Turning the corner?

Stephen Nguyen, CFA

While many markets appear expensive, we believe there are opportunities to which investors should pay attention: one of those being Japan.





13 DECEMBER 2021

Staying the course

Alex Harvey, CFA

As we come into 2021’s home straight, few moments can match the drama in Abu Dhabi as the Formula One season drew to a close. While investment is a different game, similarities can be drawn between our industry and theirs.



06 DECEMBER 2021

Death of the traditional retailer or just poor operators?

Matt Connor

The rapid growth of e-commerce, everchanging consumer habits and increasing competition have all been cited as culprits responsible for the ‘death of the high street’, but the real culprit is bad management.



29 NOVEMBER 2021

Opt out

Richard Stutley, CFA

While people like to hear a single view about the outlook for the global economy, with plenty of point forecasts for key variables like growth and inflation, the future is in fact best expressed as a range of possible outcomes.



22 NOVEMBER 2021

Gradually and then Suddenly

Richard Parfect

Spotting dangers and threats can be a difficult skill; because they often hide in plain sight.






15 November 2021

Embracing Uncertainty

Lorenzo La Posta

The only certain thing in financial markets is uncertainty. And if you can’t avoid it, you better embrace it.





08 November 2021

Match Day for Climate Action

Jackson Franks

Responsible investing is embedded in our investment process, and impact on the environment is a fundamental factor in our decision making.





01 NOVEMBER 2021

Diversity of Time Horizons

Mark Wright, CFA

As contrarian investors, we relish the opportunity to take advantage of market inefficiencies, and we look forward to more opportunities in the future, as a result of diverging time horizons and irrational investor behaviour.



25 October 2021

No Mr Bond(s),
I expect you to fall

Michael Clough, CFA

We want to construct portfolios that can deliver in a range of scenarios, in other words own assets that can shield and shine during episodes of
higher inflation.




18 October 2021

Talk is Cheap

Tom Delic, CFA

Listening and reading are two of the most important activities in our industry. After all, we have two eyes and two ears, but only one mouth.





11 October 2021

Why we pay attention to seemingly small risks

Robert White, CFA

When combining stocks, bonds or funds, one poorly chosen investment can derail an otherwise perfectly planned portfolio. This is why competent, regulated, financial professionals add value for clients.




04 October 2021

Understanding human behaviour
can fuel our returns

Gary Moglione

It is not easy to buy stocks during a crisis or sell into a euphoric market. But exploiting behavioural inefficiencies of humans frequently results in exceptional returns for long-term valuation focused investors.



28 SEPTEMBER 2021

Enduring Quality

Stephen Nguyen, CFA

Much has been discussed about the “great rotation” from growth to value recently. Growth and value companies are widely understood, however there is another factor, namely quality, that has been on the sidelines and is less clearly defined.



20 SEPTEMBER 2021

Melting Ice Cubes

Richard Parfect

When we are confronted with a completely unexpected situation that has not been experienced before, the brain suffers what is known as a “startle effect”. How is this relevant to business
and investment?



13 SEPTEMBER 2021

Fifty Shades of Green

Andrew Hardy, CFA

There are many different investment approaches taken with regards to ESG factors (environmental, social, governance) across the investment industry.





6 SEPTEMBER 2021

Credit where credit's due

Richard Stutley, CFA

We continue to like opportunities in certain parts of the credit market. Timing is very important when it comes to credit selection, and we continue to see reasonable conditions for our holdings today.




16 May 2022

Venturing overseas

Andrew Hardy, CFA

The hot topic has been investing overseas, following the relaxation of offshore investment limits. International investment risks can and should be managed, not eliminated.


9 May 2022

Central banks get serious

Robert White, CFA

With careful diversification, we believe it is important to ride out the short-term volatility and stay invested for those longer-term opportunities now emerging.


23 AUGUST 2021

Experts’ view on China

by Lorenzo La Posta, CFA

When you invest with so many high-quality fund managers, it’s only natural to pick their brains every now and then. We have spoken to a few of them and collected their thoughts on the current situation
in China.



16 August 2021

Jassy: Jeff’s Fresh Prince

Alex Harvey, CFA

An important aspect of business operations and corporate governance is succession planning. But while succession is inevitable, its success is not.





09 August 2021

Value is in the Eye
of the Beholder

Mark Wright

Similar to Russian mathematician, Ivan Panin, who is quoted as saying “For every beauty there is an eye somewhere to see it”, we do believe that “For every value opportunity, there is a potential acquirer somewhere to see it”.



02 August 2021

A Summer of Competition

Jackson Franks

There was one competition that may have caught your eye, the billionaire’s race to space. The advances in technology within the space sector is evolutionary. However, do the benefits outweigh the environmental risks?



26 July 2021

All eyes on the US

Michael Clough

“Should you be over or underweight the US equity market?” is surely one of the most asked asset allocation questions of the past five to ten years. But what about going forward?




19 July 2021

Value Investing Redux

Tom Delic

Benjamin Graham’s ‘Intelligent Investor’, first published in 1949, has provided the philosophical foundation to thousands of investors over the years. What can we learn from the book today?




13 JULY 2021

A black swan
passes by

Robert White, CFA

As is often the case with sport, parallels can be found in markets. Firstly, markets give everyone the opportunity to have as many shots as you like before you become successful, as opposed to footballers who have just one attempt during a shootout.



05 JULY 2021

Past performance is not
indicative of future results

Gary Moglione

“Past performance is not indicative of future results” is a warning on most investment material that everyone knows but not many people seem to actually implement into their decision making.




28 June 2021

Patience is a Virtue

Stephen Nguyen, CFA

Being patient in the face of adversity is key to a happy life, and a healthy investment portfolio. Good things truly do come to those who wait.





21 June 2021

For what it's worth

Richard Parfect

What is it worth then? This is a question investors should be asking themselves all the time. However, the true answer is not always obvious.





14 June 2021

This time may
be different

Andrew Hardy, CFA

History tells us that letting the inflation genie out of the bottle is a lot easier than putting it back in again. But what does this mean for investments?





07 June 2021

Macro Matters

Richard Stutley, CFA

We don’t believe in investing on the basis of macro, but we don’t ignore it either.






24 May 2021

Be smart, be decent:
empower women

Lorenzo La Posta, CFA

Two examples that promoting equality is not only the very least one could do as a human being, but is also very advantageous for everyone.





17 May 2021

Diversify your diversifiers

Alex Harvey, CFA

Our multi-asset, multi-style and multi-manager approach builds in additional diversification levers that help smooth the investment journey that we create for our clients.




10 May 2021

A Value Renaissance

Mark Wright

We now appear to be witnessing a ‘Value Renaissance’. The value rally won’t last forever, but while it does, we intend to enjoy the ride.





26 APRIL 2021

ESL - what not to do

Jackson Franks

Unlike the failed European Super League (ESL), we pride ourselves on understanding our clients’ needs through engagement and market research.





19 APRIL 2021

First a green jacket, now a
green light for Japan?

Michael Clough

Only three of the world’s top 100 ranked male golfers are from Japan. The country is underrepresented in the upper echelons of the golfing world and it is often underrepresented in investors’ portfolios too.



12 APRIL 2021

SPACtacular surge

Chris Butcher

Special Purpose Acquisition Companies (SPACs) have become one of the hottest investment trends on Wall Street. But what should investors keep in mind?




29 March 2021

Fund Selection 101

Tom Delic

When researching a fund, it is often useful to view the fund manager as a CEO, responsible for making investments in a portfolio of businesses.





22 March 2021

Bailey, Powell and Lagarde; the new eco-warriors?

Robert White, CFA

We are in a privileged position to act as fiduciary to our clients and stakeholders, and we take our ESG responsibilities seriously.





15 March 2021

Why we are all hard wired to be bad investors

Gary Moglione

People are hard wired to be bad investors as many of our natural instincts force us to fall into a number of behavioural traps that result in poor investment returns.




08 March 2021

Percy’s not a pig

Alex Harvey, CFA

Believe it or not, there are similarities in what we do here at Momentum Investments to what the rocket scientists do at NASA’s Jet Propulsion Laboratory.





01 March 2021

Are you sitting comfortably?

Richard Parfect

Ever since the global financial crisis (GFC) central banks have been trying to accelerate economic recovery by ‘printing money’. The recovery materialised, but it was centred around asset prices such as capital markets. The reaction to the COVID-19 pandemic has seen a degree of money printing that has dwarfed that of the GFC response.

22 February 2021

Coin Toss

Andrew Hardy, CFA

All investments come with a degree of risk and require a view on future scenarios, but in the case of Bitcoin it is much harder to know how it will perform or build confidence in estimates of long-term value.




15 February 2021

More of the Same

Richard Stutley, CFA

If the tale of Goldilocks and the Three Bears is used to describe today’s central bank policy, what is not too hot, not too cold, but just right?





08 February 2021

To the moon - YOLO

Lorenzo La Posta, CFA

Investing is not about sending assets to the moon. Certainly, it is not about following random advice. All we trust is data, research, experience.





01 February 2021

Emerging Opportunities

Stephen Nguyen, CFA

Emerging markets outperformed global developed equities in 2020 for the first time in three years: could this be a sign of things to come?





25 January 2021

StoreREIT telling:
three key elements

Jackson Franks

What do we expect of and how do we critique real estate managers? We look for the successful implementation of a story with a beginning, a middle, and an end.




18 January 2021

An industry in
constant evolution

Robert White, CFA

We are acutely aware that investing is a journey, and helping clients to remain invested through times of extreme uncertainty is often the most valuable service advisers can provide for their clients.




Thought leadership

We bring you some of our latest thinking on global investments and markets.

APRIL 2022

Global Matters Monthly
Market Update



Market Update


MARCH 2022

Global Matters Monthly
Market Update



Market Update


FEBRUARY 2022

Global Matters Monthly
Market Update



Market Update


JANUARY 2022

Global Matters Monthly
Market Update



Market Update


JANUARY 2022

Market update



Market update:
2021 review & 2022 outlook

December 2021

Global Matters Weekly




Annual compendium 2021


SEPTEMBER 2021

Global Matters Monthly
Market Update



Market Update


AUGUST 2021

Global Matters Monthly
Market Update



Market Update


JUNE 2021

Global Matters Quarterly
Market Update



Market Update


MAY 2021

Commentary on the market
environment and asset
allocation views



Monthly Viewpoint


APRIL 2021

Commentary on the market
environment and asset
allocation views



Monthly Viewpoint


MARCH 2021

Commentary on the market
environment and asset
allocation views



Monthly Viewpoint


FEBRUARY 2021

Commentary on the market
environment and asset
allocation views



Monthly Viewpoint


FEBRUARY 2021

Market update: 2020 review and 2021 outlook



What can we expect from
the markets in 2021.

JANUARY 2021

Commentary on the market
environment and asset
allocation views



Monthly Viewpoint


DECEMBER 2020

Commentary on the market
environment and asset
allocation views



Monthly Viewpoint


NOVEMBER 2020

Commentary on the market
environment and asset
allocation views



Monthly Viewpoint


OCTOBER 2020

Commentary on the market
environment and asset
allocation views



Monthly Viewpoint


MARCH 2020

The global cognitive
distortion of panic
and COVID- 19

Paul Nixon

Where did all the toilet
paper (TP) go?

MARCH 2020

Advice migra(ne)tion:
A Perspective

Louise Usher

Popular press has not been
shy in advocating investing
offshore.

FEBRUARY 2020

In love with
the familiar

Greg B Davies, PhD

The right and wrong ways
to deal with our preference
for the known.

The offshore investing guide

Empowering financial advisers to have in-depth offshore investment conversations with their South African clients.

Why Momentum Investments?

Momentum Global Investment Management

In this introductory video about Momentum Global Investment Management, we will share with you who we are, how we invest, what makes our investment philosophy unique and why we believe you should invest with us.

Stronger platform for growth

Momentum Global Investment Management (MGIM), Momentum Investments’ international investment management division, has acquired Seneca Investment Managers. The combined business offers a comprehensive suite of strategies for financial advisers, including a range of multi-asset funds and model portfolio solutions, to help them deliver appropriate outcomes for investors.

Why Guernsey?

The jurisdiction in which an international investment platform conducts its business is an essential part of any due diligence. This video gives you the insight into why Guernsey was our international finance centre
of choice.

Momentum Wealth and Momentum Wealth International’s capabilities

In a daunting investment world full of jargon and complexity, the capability wheels are comprehensive tools to navigate through the spheres of investment platforms, products and the different types of components, both locally and abroad.

Situs tax and when it applies

The video provides a concise view into Situs tax, what it is, when it applies and how to avoid it.

What is probate?

Understanding probate and its effect on a South African estate. The video also cover how you can add overriding contractual arrangements to avoid probate.

Want to know more?

What products are offered by MWI?

MWI administers the International Endowment Option (IEO) and an International Investment Option (IIO). Please refer to the summary document published by MWI for more detail on the products.
Who can invest in the MWI products?

Natural persons, offshore companies and trusts can invest in these products. However, SA companies, Close Corporations (CCs) and trusts do not qualify for a foreign capital allowance and can therefore not invest in these products.
Which tax legislation will apply to the products?

In most instances, an investor’s tax residency will dictate the tax legislation as mostly, the tax legislation where the person resides applies, subject to double taxation agreements. Various countries have double taxation agreements in place to determine where income or capital gains are taxable if the income or gain could be subject to tax in both jurisdictions. SA has a residency- based tax system. This means that, if a person is a SA tax resident, all worldwide income is subject to tax in SA, provided the double taxation agreement does not dictate otherwise.
Do the restrictions applicable to local endowment policies also apply in respect of the foreign endowments?

When investing in an endowment policy governed by the Long Term Insurance Act, the normal rules pertaining to the restriction period and access to funds apply. However, the product is specifically structured with 100 underlying endowment policies to allow for multiple withdrawals.
If an investor/policyholder did not select the “joint and survivorship option” in respect of the IEO, but they indicated who the proceeds must go to in their Will, how will this be dealt with in practice?

If the joint and survivorship option is not selected, the investment will fall into the investor’s estate and dealt with in terms of the estate administration process. Depending on the value of the investment, it may be necessary to comply with Guernsey’s domestic system of probate on death. This is an administrative and legal process in terms of Guernsey law that must be followed before the assets of a deceased person may be distributed to heirs.
If an investor/policyholder did not select the “joint and survivorship option” in respect of the IEO, and there are additional contract owners and a beneficiary for proceeds was appointed, what happens if the original investor dies?

The additional contract owners are automatically additional lives insured. Upon the death of any one contract owner, the policy will continue and the ownership of the deceased party will form part of his/her estate, which can be subject to Guernsey probate.
What is Guernsey probate?

Guernsey probate requires Letters of Administration to be obtained in relation to the investor’s estate to enable the Guernsey estate to be properly wound up. To obtain Letters of Administration, the registrar of the Ecclesiastical Court in Guernsey will require the investor’s will to be proved (or authenticated) in Guernsey and submitted together with a death certificate and an inventory stating the values of the estate. This may entail the added cost of appointing a Guernsey advocate to attend to the application.
Is a separate will required for offshore assets?

In Guernsey, the principle of freedom of testation applies to the law of succession. This means that individuals are free to dispose of their estates as they please on death. SA residents may choose to deal with their Guernsey assets in their SA wills or they may execute separate wills for their assets situated locally and in Guernsey.

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