Jun 3, 2026 · 24 min · 11 segments
🎙️ Tune in to our latest interview with Izak Smit, Group CEO of PPS where we explore the incredible journey of PPS in the evolving financial landscape. From the power of AI to the potential of new…
Izak SmitGuestTony van NiekerkHostSo sort of on that backdrop, how did you experience last year? I know that it was very good for investment markets.
And how do you see last year pulling through into the coming year?
Yeah
If s- if somebody said that to us at the start of the year, say all these tariff wars and even real wars and lots of things, we probably would've said maybe not such a good year for the markets.
But still, um, just shows how difficult it is to predict it, uh, over the short term.
Well, if you were heavily weighted to South African equities, of course you would have had a brilliant year.
But I think any balanced fund, uh, reasonably well-balanced fund would have had a, quite a good year.
Um, overseas equities in dollar terms also, but of course, you know, with our strength of the rand, that dampened a bit that effect.
And even the local market, I mean, our local market would have run even more if it wasn't for the rand strength.
Um, remember we're a mutual, and we can never go to shareholders, um, for extra capital because we don't have that stakeholder.
So we must make sure that our balance sheet always remains, uh, strong enough for whatever we want to do, any strategic investments, for example, that we have to make.
And because of our big, uh, balance sheet, there was this, and the, and the, and the fantastic investment markets, there was a lot of, uh, investment, uh, profit that we will feed through to our members when we announce our results again, uh, in April.
Um, if I reflect a bit, a bit in 2025 in other respects, uh, we at PPS saw a slight claims overrun.
Um, for, uh, being a mutual, that's not a big worry because that's still value returned to members, hey? Um, so-
Yeah
So sort of on that backdrop, how did you experience last year? I know that it was very good for investment markets.
And how do you see last year pulling through into the coming year?
Yeah
If s- if somebody said that to us at the start of the year, say all these tariff wars and even real wars and lots of things, we probably would've said maybe not such a good year for the markets.
But still, um, just shows how difficult it is to predict it, uh, over the short term.
Well, if you were heavily weighted to South African equities, of course you would have had a brilliant year.
But I think any balanced fund, uh, reasonably well-balanced fund would have had a, quite a good year.
Um, overseas equities in dollar terms also, but of course, you know, with our strength of the rand, that dampened a bit that effect.
And even the local market, I mean, our local market would have run even more if it wasn't for the rand strength.
Um, remember we're a mutual, and we can never go to shareholders, um, for extra capital because we don't have that stakeholder.
So we must make sure that our balance sheet always remains, uh, strong enough for whatever we want to do, any strategic investments, for example, that we have to make.
And because of our big, uh, balance sheet, there was this, and the, and the, and the fantastic investment markets, there was a lot of, uh, investment, uh, profit that we will feed through to our members when we announce our results again, uh, in April.
Um, if I reflect a bit, a bit in 2025 in other respects, uh, we at PPS saw a slight claims overrun.
Um, for, uh, being a mutual, that's not a big worry because that's still value returned to members, hey? Um, so-
Yeah
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