News Get Set Right From the Beginning When going for a war a soldier knows he/she has to carry his/her weapon. Likewise Afre Corporation effectively equips new recruits when they undergo induction training....more New Face New Personality Some say behind every successful man is a woman, at Afre Corporation we now say beside every successful organization, is a united team in the entrepreneurship battle, armed with professionalism and respect for each other’s area of expertise and skill....more Advertisements Our adverts...more 25 September weekly wealth report ...more ...more Weekly wealth report - 09.10.09 ...more Weekly Report - 27 November 2009 ...more ...more ...more ...more Weekly wealth report 15.01.10 ...more ...more ...more ...more Weekly wealth report 5 Feb 2010 ...more Weekly wealth report 12.02.10 ...more Weekly wealth report 19.02.10 ...more A Guide to Designing an Investment Policy in Personal Wealth Management It is imperative that an investor has a sound, realistic investment policy as a starting step for a successful investment journey. In simple terms your investment policy sets out the guidelines for you in the investment process. It guides you in asset selection, capital allocation, the level of risk tolerance you have, when to take profits and your investment philosophy. ...more State Pension The National Social Security Schemes and the role played by actuaries in the financial management of such schemes....more Liquidity Risk One of the most important challenges currently facing actuaries in advising life offices is that too little liquidity can seriously harm the life office. In this week’s article we will look at liquidity risk in life insurance. ...more It Pays to use Fundamental Analysis At times the market calls into question virtually every portion of your stock portfolio. You wonder, did I make the right decisions when I bought these stocks? To answer yourself in any rational fashion, you need to be able to judge whether circumstances, not just psychology, have changed for your holdings. ...more Financial health of the corporation - A closer look at liquidity risk The previous article gave insight into the factors critical in assessing the financial health of the corporation. One of the factors mentioned is liquidity risk and its role in determining failure or success. There is a saying which states that “the customer is king”. ...more Financial Health of the Corporation – Missing Value in Share Valuations The previous articles discussed the essence of share valuations and its impact on share purchases and disposal decisions. The interesting fact however, is that even though an investor should normally buy or sell shares on the basis of the share value, there is evidence of investors acting in a way that does not reflect this perception. Some investors simply follow the crowd. This means that the investors do not necessarily seek to make decisions on their own, they watch the direction in which other investors are moving and follow....more Take your Business to the Casino! PART 1 Traditional thinking by economists proposes that there are three main factors of production namely: land, labour and capital. According to Alfred Marshal, “national income is the aggregate net product of and the sole source of payment for all the agents of production”. The payment to labour for example is wages and economists propose various ways in which the price of labour should be set. For example, set wages on the basis of marginal productivity such that the factor of production – labour is rewarded in proportion to the value which it is adding to the production process. ...more Take your Business to the Casino! PART II The origin of the idea of a capital market in the form of a stock exchange was highlighted in the first part of this article. The question of risk was raised and this week we seek to discuss the nature of risk faced by the entrepreneur who decides to list their business on a public market. ...more You can survive a volatile stock market More people are choosing to invest in the stock market. But with news of macroeconomic instability brewing locally, some people may begin to worry about the security of their investments. I believe there's no reason to panic. The stock market goes through a natural course of ups and downs that balances out in the long-term. During any downturn, investors should keep their eyes on the long-term rewards of their investments. There will always be risks to investing. But people have to remember that stocks have performed well in the past and are currently on the roll. ...more Asset Allocation and Selection Decision in Wealth Management Asset allocation decision refers to the degree of spread of your investment across various asset classes and within these asset classes. The first step is to define your asset classes which are typically stocks (equities), bonds, money market, real estate and pure money market. The more sophisticated investor may include other alternative classes such as actively traded options and futures, currency, precious minerals (such as gold). ...more Is Market Timing Relevant? Equity players have witnessed a big jump in prices over the past two weeks. Both the heavy cap and light cap investors were rewarded by the re-rating of the bourse. However the market has taken a setback, which other quarters think is just temporal. ...more What Then? When The Medium of Exchange Leaks Values... The previous article discussed the birth of money and the subject of inflation in simplified terms. It was noted that the concept of money was borne out of the need to facilitate trade between producers of various goods and services. That money is a medium of exchange. Money is a proxy for value and for money to be acceptable to all traders, it must have certain qualities. When money loses some or all of its key qualities, it becomes questionable as a medium of exchange....more The Case For a Derivative Market in Zimbabwe This week I have decided to present a case for the need of a derivative market as an integral part of the capital market in Zimbabwe. Zimbabwe’s financial sector has registered phenomenal growth when tracked back to the pre-liberalisation period. However the current macro economic problems have set back financial sector growth and sophistication due to a series of financial services company closures and a general lack of confidence in the banking system...more Managed or Float Exchange Rate—Which One is the Best Suited for our Economy? There was excitement in the market when the central bank dropped the Auction System and introduced the Tradable Foreign Currency Balances System (TFCRS) in the Third Quarter Monetary Policy Statement. This will see exporters retaining 70% of export proceeds in their foreign currency accounts (FCA). ...more The Case for a Derivative Market in Zimbabwe (PART II) Last week I highlighted the role of regulatory institutions in the facilitation and sustenance of a vibrant derivative market in Zimbabwe. Key issues indicated included the need for stringent regulation, the setting up of relevant statutory or regulatory instruments, fostering of general macro economic stability. ...more Circular to Shareholders - AGM 2007 ::THIS DOCUMENT IS IMPORTANT AND REQUIRES YOUR IMMEDIATE ATTENTION:: This Document is neither a Prospectus nor an invitation to the public to subscribe for shares in First Mutual Limited...more