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This is one thing that they [unions] should be screaming about… The fact that they’re not going ballistic publically just fascinates me… Are they sleeping? Are they still on holiday? Why is it that they’re not protecting their members right now?

Warren Ingram, Galileo Capital

If the unions wake up this will die a very quick death…

Warren Ingram, Galileo Capital

The ANC election says it will look into “prescribed assets” (i.e. forcing pension funds to invest in state-owned companies).

Current articles on “prescribed assets”:

The Money Show’s Bruce Whitfield interviewed Galileo Capital Personal Financial Advisor Warren Ingram for his weekly personal finance feature.

Whitfield asked Ingram to explain the issue around “prescribed assets” and what investors should be doing in anticipation of such a move by Government.

Listen to the interview in the audio below (and scroll down for more quotes from it).

There are no state-owned enterprises that are well governed – the Land Bank is one - that struggle to raise money in the bond market.

Warren Ingram, Galileo Capital

What will get the poorest South Africans work? ...It’s not going to be forcing money to inefficient organisations. That is a terrible idea!

Warren Ingram, Galileo Capital

It’s far too early to take drastic steps to protect yourself against something that hopefully doesn’t happen…

Warren Ingram, Galileo Capital

If they do that [prescribed assets] there’s no mechanism for a retirement fund not to comply…

Warren Ingram, Galileo Capital

This is something that should be killed very quickly!

Warren Ingram, Galileo Capital

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This article first appeared on 702 : Prescribed assets: 'Are unions sleeping? Why are they not protecting members?'

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