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Offshore Money Markets/Term account/ Property Fund - OZ

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DEP
Super Contributor
What is the best way to open an Offshore Money Markets/Term account/ Property Fund? Viz. Australia. Does Standard Bank operate in OZ? I'm thinking along the lines of Investec Australia or Common Wealth bank. Has anyone gone down this route?................................. Reason for investing there 1. "Insurance" again nationalisation etc. 2. Diversifying from Rand.
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16 REPLIES 16
DEP
Super Contributor
Simao (Simon) , maybe you got an answer for me.
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ACEP_
Regular Contributor
Investec Aus, 6,5% on three month term in AUD. Took me a day to organize Personal Banker in Brisbane. If you SA Investec Client easier for Fica. They have similar laws.
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DEP
Super Contributor
Thanks ACEP. Did you deal with Investec Private bank or Inv. asset management?
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ACEP_
Regular Contributor
DEP, What I would suggest you do is phone your local Investec branch and ask them to patch you through to Aus. You got branches in Sydney, Melbourne or Brisbane to chose from. In Sydney, you can chat to Vanessa, in Mebourne - Anna Cruse or Brisbane - Nicola Reeves who I dealt with. Very efficient. You may also phone Nicola direct on +61 7 3018 8115. Just remember the time differential. Load it on your Ipod. I agree, I think it opportune to enter the carry trade now and the AUD is also a commodoties based currency that has taken a bit of a klap lately but as a developed Country should risk aversion reappear should hold up better that the Rand. Also 6,5% pa is not bad considering what US T-Bills are yielding. OMO! Should you require anything further - shout.
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SimonPB
Valued Contributor
an you not worried about the ozzie nationalisation of the mines via a super tax ??
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DEP
Super Contributor
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ACEP_
Regular Contributor
Are u not worried about SA's ability to pay off the Stadium's a'la Greece?? tee hee.
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DEP
Super Contributor
NO! I'm looking at long term currency play. I.e. R/A$ and the risk of have all you assets in SA. The company (commercial property) shareholders has decided to place 1/3 of Assets in A$. RISK: Small Interest rate risk - Paying 9.5% in Rands vs Receiving 6.4% in A$. Cost of 3.1% excluding Currency changes.
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SimonPB
Valued Contributor
I think I am largely missing your point .. but surely if one wants a safe curreny then Swiss Franc is where it's at ??
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Not applicable
I bought a boat load of Allan gray offshore unit trusts (fund of funds) which I found the quickest and easiest way to get good exposure to offshore money market/bonds/very minimal in equity...
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DEP
Super Contributor
Looked at Swiss Franc... lower interest rate.
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SimonPB
Valued Contributor
fair comment, but makes sense .. security gives a low return ..
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DEP
Super Contributor
In 2000 AU$ = +/- R4.00 In 2010 AU$ = +/- R6.50 This is a 62% increase over 10 years. Bottom Line: I don't trust this nationalisation talk.More and more leaders within the tripartite are talk in favour of nationalising mines, what next?
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SimonPB
Valued Contributor
but then what of my initial question ?? oz essentially nationalising by stealth with the super tax .. same effect, state get the rewards ..
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DEP
Super Contributor
i.e. You are comparing the risk OZ Super tax on mines to and SA nationalisation of mines? Add politicals to this formula... can you see the risk now? Come on, politically we are not stable like the Oz.?
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SimonPB
Valued Contributor
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