Intermediate investing
Capital protection levels for structured notes
Capital protection is one of the most frequently referenced features of structured products offered in South Africa. For those seeking exposure to growth assets while limiting downside risk, capital protection appears reassuring; however, it is not a single, uniform concept, it exists in different levels and forms, each with specific conditions, limitations and risks.
13 April 2026
Intermediate investing
Understanding structured products in the South African market
11 February 2026
Intermediate investing
An introduction to bonds
At its core, a bond is a loan agreement. When you purchase a bond, you are lending money to the issuer - this could be the South African government, a state-owned enterprise or a private company. In return, the issuer agrees to pay periodic interest (called the coupon) and to repay the principal (face value) on a specified maturity date.
20 January 2026
Intermediate investing
Corporate governance and shareholder activism in South Africa
Corporate governance and shareholder activism are crucial elements in ensuring transparency, accountability, and ethical management in financial markets. In South Africa, corporate governance has been significantly influenced by the King Reports on Corporate Governance, while shareholder activism has been growing as investors demand stronger oversight and accountability from companies.
16 April 2025
Intermediate investing
Analysing cash flow statements
In analysing the investment merits of a specific company, the cash flow statement serves as a critical document, often overshadowed by the income statement and balance sheet. However, its importance cannot be overstated. A comprehensive analysis of the cash flow statement will provide investors with crucial insights into a company's liquidity, solvency, and overall financial health.
20 September 2024
Intermediate investing
The power of compounding in wealth building
In the realm of personal finance and investment, compounding is a cornerstone concept, emblematic of the potential for wealth accumulation over time. Often lauded as the "eighth wonder of the world" by financial enthusiasts, its power lies in its simplicity and the profound impact it can have on an individual's financial future.
08 May 2024
Disclaimer
This Publication note is issued by FNB for the information of clients only and should not be produced in whole or part without prior permission. Although FNB is an Authorised Financial Services Provider, any opinions and/or analysis contained in this Publication are for informational purposes only and should not be considered advice, including but not limited to financial, legal or tax advice, or a recommendation to invest in any security or to adopt any investment strategy. The information contained herein has been obtained from sources/persons which we believe to be reliable. Still, it is not guaranteed for correctness, completeness or otherwise. We do not assume liability for loss arising from errors in the information or that may be suffered from using or relying on the information contained herein, irrespective of whether there has been any negligence by us, our affiliates or any other employees of ours, and whether such losses are direct or consequential. As market and economic conditions are subject to rapid change, any comments, opinions and analyses are rendered as of the date of publishing and may change without notice. Such changes may have a material impact on the outcome of any investment. Securities involve a degree of risk and are volatile instruments. Past performance is not indicative of future performance. Securities or financial instruments mentioned in the Publication note may not be suitable for all investors, and FNB bears no responsibility whatsoever arising from or as a consequence thereof. The material is not intended as a complete analysis of every material fact regarding any share, instrument, sector, region, market, country, investment or strategy. The recipient of this Publication must make their own investment decision and is advised to contact their relationship manager for a personal financial analysis before making any investment decisions. Copyright 2023.
