FOREWORD | ISSUE 51 | 3rd QUARTER 2019

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Trade Wars - There Are No Winners

The World Trade Organisation (WTO) is the guardian of the rules-based system of global trade. US President Donald Trump’s displeasure with the WTO is clear as he provokes trade wars with China and with the US’s nearest neighbours. Foord Singapore portfolio manager GUY SHIRTLIFF takes a closer look at Trump’s trade wars.

Now That The Dust Has Settled

South Africa’s sixth democratic elections are now over. PAUL CLUER takes stock of South Africa’s economic and investment prospects under the new administration.

MARKETS IN A NUTSHELL

WHAT YOU NEED TO KNOW ABOUT THIRD PARTY PAYMENTS

TEACH YOUR CHILD TO INVEST

TRADE WARS — THERE ARE NO WINNERS

NOW THAT THE DUST HAS SETTLED

DID YOU KNOW? TARIFFS

What You Need To Know About Third Party Payments

Payments from investment accounts to persons or parties other than the named investor are called third party payments. Third party payments carry risks to the affected investors and to Foord. Director of operations and compliance DIANE BEHR sets out the law and Foord’s policy regarding third party payments.