Account Loading Schedule To be completed by the authorised representative of the approved FSP. Type of account Origin of Funds.

Transcription

1 SA ASSET MANAGEMENT SA ASSET MANAGEMENT 148 Zambesi Drive/Sefako Makgatho Drive, Sinoville, 0182 PO Box 14261, Sinoville, 0129 Tel: + 27 (0) Fax: + 27 (0) / + 27 (0) Website: Account Loading Schedule To be completed by the authorised representative of the approved FSP Date: Account Number Title Entity name / Last name Full name ID no/trust no/company reg Income Tax number Postal address City Postal Code Physical address City Telephone number Cell phone number Fax number Postal Code address Bank Account Details Account name Bank name Account number Branch name Branch code Type of account Origin of Funds Client Signature Office use Concluded by FM Page 1 of 10

2 MANAGED ACCOUNT MANDATE Johannesburg Security & Portfolio Management Company (PTY) Ltd t.a. SA Asset Management (Hereafter the Manager ) and (Full name) (Hereafter the Client ) The Client hereby appoints Johannesburg Security and Portfolio Management Company (Pty) Ltd, t.a. SA Asset Management (hereafter the Manager ) as my/our agent to manage the assets that I/we hand over to the Manager as per receipt issued by the Manager and to keep them in safe custody subject to the conditions set out below. The Manager is hereby authorised, with due observance of the Client s investment objective and at the Manager s sole discretion and without consulting the Client 1.1 to manage and keep the portfolio in safe custody; 1.2 to sell assets forming part of the portfolio and invest any yield thereon, or any cash forming part of the portfolio, at the Managers discretion in any asset whatsoever, including (without any restriction whatsoever) derivatives and foreign investments: provided that the buying and selling of assets shall be subject to the conditions determined in terms of the FAIS Act (Act 37 of 2002) prevailing at the time of such buying of selling; 1.3 to enter into a Client agreement with any other member of any financial exchange or stock exchange, in terms of the requirements of such exchange and vote on behalf of the Client; 1.4 to make payments or transfer funds at any time from the accounts referred to in 3 below, in order either to purchase new assets or make any other investment in execution of the Manager s obligations in terms hereof; 1.5 to transfer the assets into the name of a nominee company of JSP or the nominated company of a financial exchange, in this case and at this stage SA Stockbrokers nominees (Pty) Ltd; 1.6 to sign and/or execute any documents, which may be required, giving effect to the Manager s obligation or powers in terms hereof; 1.7 and in general to act on the Client s behalf and in connection with the portfolio in such manner as the Manager may deem to be in the Client s best interests and as required by this mandate. 2 The Manager shall forthwith deposit any monies received in connection with this agreement for the credit of the Client into the following trust bank account. Holder: SA Stockbrokers (PTY) LTD Trust Account Name of Bank: FNB Branch: Bankcity Acc. number: ( the portfolio call account ) held at First National Bank or with any other registered financial institution. In cases where a member of a financial exchange requires guarantees or margins, such monies shall be deposited with such member, or in any other manner as determined by the rules of the said exchange. Call money forming part of the assets will be reflected in the portfolio call account and will earn market related interest. All accruals including dividends and interest earned that the Manager receives on behalf of the Client, shall be reinvested in the portfolio by the Manager. 3 At intervals of not more than three months, the Manager shall furnish the Client with reports which will contain sufficient accounting information to enable the Client to produce a set of financial statements and to understand the extent of the time economic value of investments and the changes therein over the period covered by the reports and which will at least accommodate the minimum requirements determined from time to time in terms of the act. 3.1 The Client will pay the Manager a structuring fee of 4% of the market value of the portfolio and a yearly management fee of 1% per annum on all assets handled by the Manager (of this the Financial Advisor will receive up to 100% of the structuring fee and 50% of the yearly fee). The yearly management fee is calculated a year in advance. The Client will also pay a monthly performance fee of 0.3% should the overall index of the JSE be outperformed by 0.4% or more. These costs exclude SA Stockbrokers and JSE costs. These tariffs exclude VAT. When investing internationally via Interactive Brokers, the Yearly Management Fee and the Structuring Fee will be same as above. The Client will pay a performance fee of 15% above a high water mark calculated monthly. The costs exclude Interactive Brokers account fees, forex fees and the relevant international index fees. Page 2 of 10

3 3.2 These costs will be debited against the Client s call account. The Client will receive written notification 30 days in advance of any increases in the above mentioned tariffs. 3.3 The Manager shall not be liable for any loss or damage of whatever nature arising from this mandate, or from any other act of the Manager on buying or selling assets forming part of the portfolio, nor will the Manager be liable for any consequential damage or indirect loss or damage arising there from, except in the case of gross negligence on the part of the Manager. 3.4 It is hereby recorded that the manager is regulated by the FSB with registration no 589 and is authorized as discretionary FSP to manage the following: Investments consisting of securities and instruments referred to in paragraph (a) of the definition of financial products in Section 1(1) of the Act (shares, debentures and securitised debt, warrants certificates and other instruments acknowledging, bonds, derivatives Participatory interests in other collective investment schemes The Client acknowledges awareness of the risks of investing in securities and financial instruments and confirms acceptance of these risks. In particular, the Client acknowledges that he is aware of the risks involved in investments in futures and options, as set out in Risk Disclosure Statement, required by the South African Futures Exchange to be given by all Members of the exchange to Clients, a copy of which is attached hereto as Annexure A. 3.5 The Client further acknowledges that he is aware of the risks involved in foreign investments and is aware of all relevant information concerning foreign investments as set out in Annexure B The Client acknowledges and confirms that the Manager accepts no responsibility for any monies/or documents, unless a written receipt has been issued in respect thereof to the Client. 4.2 The Client acknowledges awareness of the material obligations of buyers and sellers of listed securities in certificate form and dematerialized securities. 4.3 Right of ownership in all assets forming part of the portfolio shall vest in the name of the client. 4.4 This mandate takes effect on the date it is being signed by both the Client and Manager and constitutes the sole agreement between the Client and the Manager. No amendment thereof shall be considered valid unless reduced to writing and signed by both parties. 4.5 Either party giving 30 days written notice may terminate this mandate. The Manager shall make no changes to the portfolio after receipt of such notice, unless expressly requested to do so by the Client. However, any transaction initiated prior to the date of receipt of the notice by the Manager shall be completed. 4.6 The parties choose their respective domicilium citandi et executandi (physical address), and for the purposes of delivery of all notices and correspondence in terms of this mandate, their addresses as appearing on this mandate. 4.7 Disclosure of soft commissions it is hereby recorded that directors AA Botha and BDP Oosthuizen are registered stockbrokers and that they will receive brokerage fees on all transactions transacted on the Johannesburg Securities Exchange according to standard brokerage scales. 4.8 Please note any jurisdiction restrictions or any other restrictions that the client may have: 4.9 The discretionary FSP may in order to render an intermediary service to the client utilize the services of its own staff or that of another approved FSP. 5 Our investment objective is to obtain capital growth with minimum risk exposure over the medium to long term. The Client chooses the high risk profile due to situations and fluctuations on the JSE or other Exchanges. 6 The Client should take note of the following concerning foreign investments: 6.1 MANNER OF INVESTMENT: The foreign investments will be done via approved foreign investment managers. 6.2 COUNTRIES IN WHICH INVESTMENTS WILL BE MADE: Investments will be made in North America, The United Kingdom, Europe and Japan and investors will be notified should any other countries be included in the list. 6.3 EXCHANGE ON WHICH INVESTMENTS WILL BE LISTED: New York, London, Zurich, Paris, Tokyo, Hong Kong or any other selected Stock Exchanges. 6.4 CURRENCY RISK: The client should take note of the fact that in the case of the rand weakening against any foreign currency, the same positive proportional effect will be experienced on the portfolio and vice versa if the rand strengthens. 6.5 CONDITIONS AND TERMS OF INVESTMENT: The investments are made in the mutual funds of the different companies with the same objective as that of the client, namely maximum growth with minimum risks. Page 3 of 10

4 ANNEXURE A Risk Disclosure Statement as Required by SAFEX to be given by all members of the exchange to clients. This Risk Disclosure Statement is made pursuant to the Rules of the South African Futures Exchange. The risk of loss arising from contracts can be substantial. You should carefully consider whether such investments are suitable for you in the light of your circumstances and financial resources. You should be aware of the following Points: 1. If the market goes against your position, you may in a relatively short time sustain a total loss of the funds. 2. Under certain market conditions it may be difficult or impossible to close out a position. This may occur, for example, where trading is suspended or restricted at times of a rapid movement. 3. Where permitted, placing a stop loss order will not necessarily limit losses to the intended amounts. For market conditions may make it impossible to execute such orders at the stipulated price. 4. A spread or straddle position may be as risky as a simple long or short position and can be more complex. 5. Markets in contracts can be highly volatile and investments in them carry a substantial risk of loss. The high degree of gearing or leverage which is often obtainable in trading these contracts, stems from the payment of what is a comparatively modest deposit value or margin when compared with the overall contract value. As a result, a relatively small market movement can, in addition to achieving substantial gains where the market moves in your favour, result in substantial losses which may exceed your original investment where there is an equally small movement against you. 6. When your broker deals on your behalf you should deal in the type of contract listed on the exchange. Should you deal in futures contracts not listed on the exchange, then you do so at your own risk. 7. Prior to the commencement of trading, you should require from your broker written confirmation of all current commission, fees and other transaction charges for which you will be liable. 8. Brokers may also be dealers trading for their own account in the same markets as you, in which case their involvement could be contrary to your interest. 9. Your broker s insolvency or that of any other brokers involved in your contracts may lead to your position being closed out without your consent. 10. You should carefully consider whether your financial position permits you to participate in a syndicate. Areas of particular concern are: charges for management, advisory and brokerage fees; the performance record of the syndicate and for how long it has been operating; and the credibility of the management (your broker should explain to you the meaning of the various terms set out herein so that you are fully aware of their significance). 11. Your broker is required to disclose and explain to you the position in respect of unsolicited calls. 12. If you have any doubts or concerns regarding the risks in trading in financial futures you may contact SAFIA or SAFEX for more detailed information before signing the acknowledgement. This brief statement cannot disclose all risks of investment in financial futures. This kind of investment is not suitable for many members of the public and you should study it before you commit funds. It may also have tax consequences, on which you should consult your lawyer, accountant or other tax advisor. SIGNED at on this the day of 20 CLIENT SIGNATURE MANAGER SIGNATURE PHYSICAL ADDRESS OF THE CLIENT AS WITNESS: Witness 1 Witness 2 PHYSICAL ADDRESS OF SA ASSET MANAGEMENG: 148 ZAMBESI DRIVE / SEFAKO MAKGATHO DRIVE, SINOVILLE, 0182 Page 4 of 10

5 STATUTORY DISCLOSURE AND INTRODUCTION BY JOHANNESBURG SECURITY AND PORTFOLIO MANAGEMENT COMPANY (PTY) LTD An Authorised Financial Services Provider (FSP) Personal Details of Key Individual André Alfred Botha (André) FSB Licence Number 589 Licence Categories Compliance Officer Experience and Qualification Contractual Arrangement with Product Providers/Companies Remuneration Conflict of Interests Professional Indemnity Insurance Financial Advisor Intermediary Services (FAIS) Signing of Incomplete Documents CATEGORY I Securities and Instruments: Shares Securities and Instruments: Money market instruments Securities and Instruments: Debentures and securitised debt Securities and Instruments: Warrants Securities and Instruments: Bonds Securities and Instruments: Derivative instruments Participatory interests in Collective Investments Schemes Long term Deposit Short term Deposit CATEGORY II Securities and Instruments: Shares Securities and Instruments: Money market instruments Securities and Instruments: Debentures and securitised debt Securities and Instruments: Warrants Securities and Instruments: Bonds Securities and Instruments: Derivative instruments Participatory interests in Collective Investment Schemes JD Wessels. Co no: address: niel@compliancetrust.co.za The representative has experience since 1997 in the rendering of advice and intermediary services in the financial services industry. The representative holds the following qualification: B.Sc (Management), JSE Stockbroker, Registered Person (Securities Institute London). RE 1, RE 3, RE5. Securities Trader. No product provider or investment company holds any shares in the FSP nor is the FSP associated with any such institution. The FSP is contracted with the following suppliers, Management companies, stock broking partners and exchange participation: 1. Boutique Collective Investments 2. SA Stockbrokers (JSE) 3. Charles Stanley Stockbroker (LSE) The representative is remunerated by way of commission and fees payable as per the Mandate Clause 4.1, and by product providers and companies The representative has not received more than 30% of the remuneration in the past financial year from any third party. In the event of a potential conflict of interest in the rendering of advice to clients, the FSP will place the interests of the client first. In the event where an ownership interest exists or financial interests are received, it will so be disclosed in the Register of Conflict of Interest, a copy of which is available on request. The FSP holds PI Cover. The FSP warrants that any representative that render financial services to a client complies with the fit and proper requirements in terms of the Financial Advisory and Intermediary Services Act. Without in any way limiting and subject to the provisions of the services agreement, the FSP accepts responsibility for the lawful actions of the representative in rendering financial services within the course and scope of their employment. You are hereby advised and cautioned that no person acting on behalf of the provider may in the course of the rendering of a financial service request you to sign any written or printed form or document unless all details required to be inserted thereon by you or on your behalf have already been inserted. Responsibility for Please note that in respect of any application, proposal, order, instruction or other contractual Correctness and information that is required to be completed for, or submitted to a product supplier by or on your Page 5 of 10

6 Completeness of Information Waiver of Rights (Consumer Protection Act) Protection of Personal Information (POPI) Confidentiality Financial Intelligence Centre Act (FICA) Complaints Contact Details for FAIS Ombud Contact Details for Ombud for Life Insurance Contact Details for Financial Services Board Financial Analysis and Advice behalf that relates to the purchase of or investment in any financial product, including any amendment thereof or variation thereto, all material facts must be accurately and properly disclosed, and the accuracy and completeness of all answers, statements or other information provided by you or on your behalf are your own responsibility; If any person completes or submits any application, proposal, order, instruction or other contractual information that is required to be completed for, or submitted to, a product supplier by you or on your behalf that relates to the purchase of or investment in any financial product, including any amendment thereof or variation thereto on your behalf, you should be satisfied as to the accuracy and completeness of the details. Any misrepresentation or non disclosure of a material fact or the inclusion of incorrect information could result in the cancellation of the transaction or the non payment of a benefit by the product supplier. You are hereby advised that no representative of the provider or any other person may ask you or offer any inducement to you to waive any right or benefit conferred on you by or in terms of any provision of the General Codes of Conduct. A copy of the Code of Conduct is available on request. We confirm that during our interaction and appointment we are going to obtain your personal information. By providing the information to us you confirm, agree and consent to the use of your personal information by us as well as any of our appointed representatives, employees, contracted product suppliers and / or their authorised administrators. We herewith undertake only to utilise such personal and private information for the purpose that it was intended and obtained for, which relates to providing you possible financial services. Once all transaction(s) has been concluded in respect of the purchase of a financial product(s), the information will be retained and used for the maintenance of such product(s) / our records. Insofar as the termination of this is concerned, we are required by law to keep all information and records for a period of at least 5 years (after termination of relationship). Personal and private information will not be divulged to any third party concerned without your consent or in the event of a legal obligation. We confirm that the necessary systems and procedures in place to secure personal information in accordance with legal requirements. All information received from and regarding the client will be treated as confidential by the FSP and its personnel. The FSP is registered as the accountable institution with the Financial Intelligence Centre, and shall be obliged to record and verify client information in the manner prescribed by FICA. The FSP is also required to report unusual and suspicious financial activities where so obligated by FICA. Any queries and complaints are to be addressed to the Key Individual as per the contact details provided. A copy of the FSP s complaints procedure is available on request. Should a complaint not be addressed to the satisfaction of the client, it may be referred to the offices of the relevant Ombud, as per the details herein contained. Eastwood Office Building, Baobab House, Ground Floor, C/o Lynnwood Street & Jacobson Drive, Lynnwood Ridge, Pretoria. Tel: Fax: info@faisombud.co.za Website Sunclare Office Building, 20 Dreyer Street, Claremont, Cape Town. Tel: Fax: info@ombud.co.za Website: River Walk Office Building, Building B, 41 Matroosberg Road, Garsfontein, Pretoria. Tel: Fax: info@fsb.co.za Website: Hereby we, SA Asset Management, confirm that no financial analysis or advice was done by us, the Manager, and all financial analysis or advice must be done by Clients Financial Advisor. CLIENT SIGNATURE KEY INDIVIDUAL DATE Page 6 of 10

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8 RISK PROFILER The Risk Profiler is a decision making tool to help you decide your personal Risk Profile. The Risk Profiler will help you to reach a decision on the level of financial risk that you can accept. Once you have completed the task and totalled your score, refer to the Risk Profile Interpreter to see your personal Risk Profile. Instructions: To complete the Risk Profile, just answer each question by circling the number that best matches your personal situation. Then add the scores and enter the results in the Total boxes for each Section. Client Name: Equity Account Number: SECTION 1: YOUR PERSONAL TIME HORIZON Circle your score for each section: What is the time frame for your financial goals? 0 5 Years years years years 4 20 years or more 5 What is your age? 65 years or more years years years 4 Below 33 years 5 What is your primary financial goal? (Choose only one) Capital protection Protection against a decline in market values 1 Current Income To generate interest 2 Consistency A high degree of stability and predictability of your investment over time 3 Long term inflation hedge To have a high degree of protection of the purchasing power of your investment 4 Speculative To achieve growth in investment capital employing a wide range of investment strategies such as short sales and gearing 5 Total for Section 1 SECTION 2: YOUR PERSONAL RISK TOLERANCE each statement and enter the result in the right hand column: Strongly Agree 1. I would like to get as much long term growth from my investment as possible, even if it means dramatic ups and downs on a year to year or month to month basis in my investment returns. 2. I believe that I will have enough money to reach my goal; therefore I must protect what I have. 3. I believe that I will not have enough money to reach my goals; therefore I must take a risk to get ahead. 4. I would like to protect the money that I invest, even if it means getting very little long term growth. 5. I believe that I will have enough money to reach my goal; therefore I can afford to take some risk. Agree Neutral Disagre e Strongly Disagree Page 8 of 10

9 6. I believe that I will not have enough money to reach my goal; therefore I cannot afford to risk what I have. 7. I would be very concerned if the value of my investment declined, because I cannot accept fluctuations in its value. 8. Which of these investments would you feel more comfortable owning? Fixed Deposits SECTION 3: YOUR PERSONAL INVESTMENT OBJECTIVES Govt Stock Shares in older established companies International Investments Shares in emerging Markets Total for Section 2 Your Personal Tolerance Total to carry forward. each statement and enter the result in the right hand column: Strongly Strongly Agree Neutral Disagree Agree Disagree 1. It is important for me to earn the highest possible return on my investment, even if I must take some risk to do so I prefer my investment to grow steadily and avoid sharp ups and downs, even if it lowers my long term returns I will accept short term losses if I believe the long term returns will be good Protecting my savings is more important than making them grow If I inherited a large sum of money, I would put it in the bank rather than invest it For the right opportunity, I would resign my present job and start my own business Assets that I own, such as a pension, or personal savings form a substantial portion of my net assets I expect my earnings to increase in real terms over the next five years I have adequate emergency fund that will cover most emergencies Now add up your score: Total for Section 3: Your Personal Investment Objectives Total to carry forward Time Horizon Risk tolerance Investment Objectives Objective Use the risk Profile Interpreter on to next page to determine your personal Risk Profile. GRAND TOTAL Page 9 of 10

10 RISK PROFILE INTERPRETER Profile Description Conservative Moderately conservative Moderate Moderately aggressive 83+ Aggressive SUMMARY For investors who seek stability and are more concerned with protecting their current investments than increasing their real value. (Money Market or SA Asset Management BCI Cautious Fund A) For investors who wish to protect their capital, with the prospect of some real increase in the value of their investment. (SA Asset Management BCI Cautious Fund A) For longer term investors who want reasonable but relatively stable growth. Some fluctuations are tolerable, but these investors are comfortable with less risk than attributable to full equity exposure. (SA Asset Management BCI Moderate Fund A) For longer term investors who are seeking good levels of real growth. A reasonable level of risk is acceptable in return for higher expected returns in the medium to long term. (SA Asset Management BCI Managed Fund A) For long term investors who desire high growth. Substantial year to year fluctuations in value are acceptable in exchange for a potentially high long term return. (SA Asset Management BCI Managed Fund A or Private Share Portfolio) Profile Please delete the option you prefer NOT to exercise: Option 1: I, hereby accept the risk category assigned to me above and acknowledge that whether I choose a Discretionary or a non Discretionary account, I will trade within the scope of the above score. OR Option 2: I, prefer to determine my own risk profile from time to time. SIGNED at on this the day of 20 CLIENT SIGNATURE KEY INDIVIDUAL AS WITNESS Witness 1 Witness 2 Page 10 of 10