ENDOWMENT PRODUCT BROCHURE

Transcription

1 OASIS CRESCENT PROPERTY ENDOWMENT POLICY ENDOWMENT PRODUCT BROCHURE

2 OASIS CRESCENT PROPERTY ENDOWMENT POLICY Fund Manager Adam Ebrahim Launch Date 3 December 2015 Risk Profile Medium Benchmark CPI Rate + 1% Date of distribution 31 March (Annual) Min. Initial Invest R Min. Additional Debit Order Invest R1 000 Portfolio Classification Insurance Endowment INTRODUCTION The Oasis Crescent Property Endowment policy is a long-term savings and investment policy that has maturity terms of 10 or 15 years. A perpetual investment horizon option is also available. The portfolio largely comprises of property assets and securities, which seek to provide high levels of income growth and moderate capital appreciation. The Oasis Crescent Property Endowment policy complies with the ethical and moral requirements of Shari ah law. The independent Oasis Shari ah Advisory Board is responsible for reviewing the holdings and income earned within the portfolio, to ensure that they are aligned with Shari ah investment guidelines. The policy is a pure investment policy with no life cover and contains no risk cover or guarantees of any nature. All taxes due and payable are levied within the policy and the proceeds of the policy are tax-free.

3 INVESTMENT POLICY The Oasis Crescent Property Endowment Policy provides investors with an opportunity to invest in Shari ah compliant property companies. These would include both listed and/or unlisted entities. It is diversified across a range of different property types that would include (but not be limited to) high-quality residential and commercial properties. The portfolio is actively managed and relies on independent research that is conducted by the dedicated investment analysts. The majority of portfolio will be invested in South African property instruments, although the investment mandate does not preclude an investment in offshore property entities, which provide a level of security that is equivalent to that of South Africa. SHARI AH COMPLIANCE The Oasis Crescent range of products are managed in accordance with the investment guidelines that have been established by the independent Oasis Shari ah Advisory Board. These guidelines stipulate the exclusion of securities whose primary business activities are non-permissible, according to Shari ah law. This would exclude an investment in industries that largely derive income from products such as: pork, liquor, gambling, pornography, or financial services. In addition, this range of products does not invest in institutions that are associated with high levels of gearing. The relatively small portion of income that is deemed to be non-permissible income (NPI), will be separated from the investment portfolio and is donated to the charity, through the Oasis Crescent Fund Trust. The transfer of the NPI will be conducted under the auspices of the Shari ah Advisory Board and the company auditors. The Oasis Shari ah Advisory Board has been appointed to advise Oasis on Shari ah investment and ethical issues. This board is responsible for conducting an independent analysis of the Oasis Crescent range of products and institutions. It reviews the holdings in the investment portfolios and investment income that is earned by these portfolios, to ensure that it is aligned with Shari ah investment guidelines. On the satisfactory completion of this independent analysis, a certificate of compliance is issued for each investment product in the Oasis Crescent range.

4 SUITABILITY The Oasis Crescent Property Endowment policy may be suitable to those who seek: Exposure to diverse property related instruments Diversified Long-term capital and income growth Shari ah compliant investment in property Regulated investment management practices Holdings in a broad mixture of property securities Tax efficiency where income is taxed at more than 30% WITHDRAWALS AND RESTRICTION PERIOD During the first fives years of the policy there is a legislated period where there are restrictions on withdrawals. If additional contributions exceed 120% of any of the previous two years contributions, then the policy will enter an extended restriction period for another five years from the date of exceeding the contribution. If the policy is not in a restriction period the policyholder may: withdraw the full amount of the investment value request a partial withdrawal request that the administrator provide an ongoing payment at the frequency that is jointly determined by the policyholder and administrator DEATH The policyholder may nominate an entity or individual to receive any benefits of the policy. If the policy was purchased by more than one policyholder, under the conditions for joint ownership beneficiaries, then the surviving policyholder will be the sole owner of the policy. Where the policy is held by multiple policyholders and no joint ownership beneficiaries have been nominated, then the proceeds shall be paid to the remaining policyholders in a proportionate share. If no beneficiaries have been nominated, the proceeds shall be paid to the estate of the deceased policyholder.

5 OTHER The benefits under the policy may be pledged or ceded to another party. No loans will be provided by the insurer against the policy. FEES Fee Type Financial Advisor Administrator Investment Manager Initial Maximum 3% deducted prior to each investment being made. Where ongoing fee is greater than 0.5% then initial fee is limited to 1.5%. No charge No charge Ongoing Maximum 1% per annum of the investment account. Where the initial fee is more than 1.5% then the maximum ongoing fee is 0.5%. No charge 1% to 3% A portfolio management fee is charged, which includes investment management and other fees. This fee has a performance fee component that seeks to incentivize the investment manager to generate returns that are in excess of the portfolio benchmark, thereby aligning the interests of the manager with those of Investors. Performance fees are capped at 3% annually. An early exit fee of 1% may be applied when the policyholder is looking to exit prior to the expiry of the legislated restricted period.

6 Cape Town OASIS HOUSE 96 Upper Roodebloem Road, University Estate, Cape Town, 7925 Tel: +27 (0) , Fax: +27 (0) Johannesburg Suite 408, 4th Floor, West Office Tower Nelson Mandela Square, Sandton, Gauteng Tel: +27 (0) , Fax:+27 (0) Durban Shop 49, The 90 Shallcross Road, Durban 4134, KwaZulu-Natal Tel: +27 (0) , Fax:+27 (0) CLIENT SERVICES WEBSITE DISCLAIMER Oasis Funds are medium to long term investments. The value of investments may go down as well as up and past performance is not necessarily a guide to future performance. A schedule of fees and charges and maximum commissions is available from the administration company on request. Fluctuations or movements in exchange rates may cause the value of underlying international investments to go up or down. All information and opinions provided are of a general nature and the document contains no implied or express recommendation, guidance, advice or proposal that the product is appropriate to the investment objectives, financial situation or needs of any particular individual or entity. No warranty as to the accuracy, correctness or completeness of the information and opinions contained herein is provided. Oasis Crescent Advisory Services (Pty) Ltd. is an Authorised Financial Services Provider. Oasis Crescent Insurance Ltd. authorised by the Financial Services Board. Oasis Crescent Wealth (Pty) Ltd. is the administrator for Oasis Crescent Insurance Ltd.