Unit Trusts Additional Investments form (existing investors)

Transcription

1 Unit Trusts Additional Investments form (existing investors) Transact Online Transact on our Secure Services Portal to save time. View and manage your portfolio online and securely Top up, switch and withdraw from your fund account Request tax and quarterly statements Update your personal details To register, go to: https ://cp.s anlam.co.za Completing the information correctly will ensure that there is no delay in processing your request. Initial any changes you make on the form. The registered investor or authorised signatory must date and sign the form. Write instructions inside the allocated fields. All information outside the fields will be omitted. If the bank account holder or investment payer is a third party the following verification documents are required Individuals Non-individuals Copy of Identity Card or valid Passport. Proof of banking details (cancelled cheque, confirmation letter from the bank or a copy of a bank statement, not older than 3 months) A Resolution or Minutes of Meeting from the legal entity stating the list of authorised signatories. Copies of verification documents to verify the legal entity Proof of bank account (cancelled cheque, bank statement or that includes a bank logo and date stamp. confirmation letter from bank - not older than 3 months) that FIA identification form includes a bank logo and date stamp. FIA identification form Print only the pages you need. We have made the forms shorter to save you time and paper. Make sure that you choose the specific pages for the changes you need and print and return only the required pages. Our contact details Send the completed form and supporting documents to: UTinstructions@sanlaminvestmentsnamibia.com Fax If you have any questions, contact us at collective@sanlam.com.na Tel Website 1

2 Investor details (mandatory to send back with the relevant forms) Investor details (All f ields marked w ith * are compulsory) *Investor code(s) *Title *Full name(s) and surname(s) *Registered name of Legal Entity *Identity number of Individual *Registration number of Legal Entity *Passport number Passport expiry date *Passport country of issue Additional investment choices This additional investment transaction can be processed on Secure Services. To register, go to: Please select the transaction you wish to do. Complete and submit only the corresponding sections you have selected together with this form. Invest into a fund already in your portfolio - Form A Invest into a new fund to be added to your portfolio - Form B Appoint a financial adviser / broker - Form C Investor declaration I / We confirm that I / we: have read and understood the important notes, terms and conditions on the first page. have the authority and am legally competent to enter into and conclude this transaction, with the necessary legal assistance when it is required. Am / are aware that the legal guardian must sign the instruction on behalf of a minor (if applicable). Signature of Investor Date (ddmmccyy) Authorised signatory 1 Date (ddmmccyy) Authorised signatory 2 Date (ddmmccyy) Authorised signatory 3 Date (ddmmccyy) Authorised signatory 4 Date (ddmmccyy) Initial Salam Namibia Trust Managers Limited 2

3 Form A Invest into a fund already in your portfolio Personal details (All f ields marked w ith * are compulsory) *Investor code *Identity number of Individual * Registration number of Legal Entity Investment Instruction Please select the fund you would like to invest in, and indicate the once off amount you would like to invest. If you are unsure about which funds suit your needs, please consult your broker or Sanlam financial adviser Please review the Minimum Disclosure Document (MDD) to familiarise yourself with the fund minimums and fees. Income distribution (please tick selection) Unit trust fund(s) Class* Lump sum deposit (EFT) Lump sum debit order collection Monthly debit order collection Reinvest Payout *Please note: If you do not specify a class you will be allocated to a default class. Source of funds for lump sum investment (compulsory) Please advise where the funds for this investment originate Salary Inheritance Bonus Pension or Provident Sale of Property Savings Liquidation of existing investment Other (specify): Do these funds originate from a Sanlam policy? Yes No If "Yes", supply the policy number: Source of funds for monthly investment (compulsory) Please advise from where the funds for this investment originate Salary Other (specify): Do these funds originate from a Sanlam policy? Yes No If "Yes", supply the policy number: Details of person responsible for payment(s) Does the source of funds originate from anyone other than the investor? Yes No If yes, please complete FIA Identification Form Initial 3

4 How would you like to pay for your investment? We collect funds (once off) Collections are restricted to a maximum of N$ per debit. The alternative payment method for amounts exceeding N$ is an electronic fund transfer directly into our bank account. Your once off investment amount N$ Deduction date Permission to debit bank account (ddmmccyy) This date should be between the 1st and 28th of the month Existing bank account New bank account 3rd party bank account Please note the following documents will be required if the account holder is a: Third party individual Third party legal entity Copy of Identity Card or valid Passport. A Resolution or Minutes of Meeting from the legal entity stating Proof of bank account (cancelled cheque, bank statement the list of authorised signatories. or confirmation letter from bank - not older than 3 months) Copies of verification documents to verify the legal entity. that includes a bank logo and date stamp. Proof of bank account (cancelled cheque, bank statement or FIA identification form confirmation letter from bank - not older than 3 months) that includes a bank logo and date stamp. FIA identification form Use bank details for the following Debit order Disinvestment Income Distribution (All fields marked with * are compulsory) Please note: We do not disinvest into third party accounts *Name of account holder *Name of bank *Account number *Name of branch *Branch code *Type of account Current Savings I instruct and authorise Sanlam or its agents to draw direct debits from my bank account as per my instruction Signature of bank account holder Date (ddmmccyy) Authorised signatory on bank account Date (ddmmccyy) OR Electronic Fund Transfer (EFT) Bank: First National Bank Bank account holder: Bank account number: Branch code: Reference: Existing Fund Number together with proof of deposit attached to this form Initial 4

5 OR Unit trust Additional investments form (existing investors) Debit Order Monthly debit order collection Deduct an amount of N$ Start Date (ddmmccyy) This date should be between the 1st and 28th of the month Annual increase % Annual increase date (ddmmccyy) Permission to debit bank account Existing bank account New bank account 3rd party bank account Please note: the following documents will be required if the account holder is a: Third party individual Third party legal entity Copy of Identity document or valid Passport Proof of bank account (bank statement or A letter from the legal entity listing the authorised signatories confirmation letter from bank - not older Copies of verification documents to verify the legal entity. than 3 months) Proof of bank account (bank statement or confirmation letter FIA identification form from bank - not older than 3 months) FIA identification form Use bank details for the following Debit order Disinvestment Income Distribution (All fields marked with * are compulsory) Please note: We do not disinvest into third party accounts *Name of account holder *Name of bank *Account number *Name of branch *Branch code *Type of account Current Savings I instruct and authorise Sanlam or its agents to draw direct debits from my bank account as per my instruction Signature of bank account holder Date (ddmmccyy) Authorised signatory on bank account Date (ddmmccyy) Initial 5

6 Form B - Invest into a new fund to be added to your portfolio Personal details (All f ields marked with * are compulsory) *Investor code *Identity number of Individual * Registration number of Legal Entity If you are unsure about which funds suit your needs, please speak to your broker or Sanlam financial adviser. Please consult the fund fact sheets, Minimum Disclosure Document (Fund Fact Sheets) to familiarise yourself with the fund minimums and fees. Unit trust fund(s) Class* Lump sum deposit (EFT) Lump sum debit order collection Monthly debit order collection Income distribution (please tick selection) Reinvest Payout *Please note: If you do not specify a class you will be allocated to a default class. Source of funds for lump sum investment (compulsory) Please advise where the funds for this investment originate Salary Inheritance Bonus Pension or Provident Sale of Property Savings Liquidation of existing investment Other (specify): Do these funds originate from a Sanlam policy? Yes No If "Yes", supply the policy number: Source of funds for monthly investment (compulsory) Please advise from where the funds for this investment originate Salary Other (specify): Do these funds originate from a Sanlam policy? Yes No If "Yes", supply the policy number: Details of person responsible for payment(s) Does the source of funds originate from anyone other than the investor? Yes No If yes, please complete FIA Identification Form Initial 6

7 Unit trust Additional investments form (existing investors) How would you like to pay for your investment? We collect funds (once off) Collections are restricted to a maximum of N$ per debit. The alternative payment method for amounts exceeding N$ is an electronic fund transfer directly into our bank account. Your once off investment amount N$ Deduction date (ddmmccyy) This date should be between the 1st and 28th of the month Permission to debit bank account Existing bank account New bank account 3rd party bank account Please note: the following documents will be required if the account holder is a: Third party legal entity Third party individual A Resolution or Minutes of Meeting from the legal entity stating Copy of Identity document or valid Passport the list of authorised signatories. Proof of bank account (bank statement or Copies of verification documents to verify the legal entity. confirmation letter from bank - not older than 3 months). Proof of bank account (bank statement or confirmation letter from bank - not older than 3 months). FIA identification form FIA identification form Use bank details for the following Debit order Disinvestment Income Distribution (All fields marked with * are compulsory) Please note: We do not disinvest into third party accounts *Name of account holder *Name of bank *Account number *Name of branch *Branch code *Type of account Current Savings I instruct and authorise Sanlam or its agents to draw direct debits from my bank account as per my instruction Signature of bank account holder Date (ddmmccyy) Authorised signatory on bank account Date (ddmmccyy) OR Electronic Fund Transfer Bank: Standard Bank Bank account holder: Bank account number: Branch code: Individual -Your identification number / passport number, together with proof of deposit attached to this form. Non Individual - Legal entity registration number / trust number, together with proof of deposit attached to this form. Reference: Initial 7

8 OR Debit Order Monthly debit order collection Deduct an amount of N$ Start Date (ddmmccyy) This date should be between the 1st and 28th of the month Annual increase % Annual increase date (ddmmccyy) Permission to debit bank account Existing bank account New bank account 3rd party bank account Please note: the following documents will be required if the account holder is a: Third party individual Third party legal entity Copy of Identity document or valid Passport Proof of bank account (bank statement or A letter from the legal entity listing the authorised signatories confirmation letter from bank - not older Copies of verification documents to verify the legal entity. than 3 months) Proof of bank account (bank statement or confirmation letter FIA identification form from bank - not older than 3 months) FIA identification form Use bank details for the following Debit order Disinvestment Income Distribution (All fields marked with * are compulsory) Please note: We do not disinvest into third party accounts *Name of account holder *Name of bank *Account number *Name of branch *Branch code *Type of account Current Savings I instruct and authorise Sanlam or its agents to draw direct debits from my bank account as per my instruction Signature of bank account holder Date (ddmmccyy) Authorised signatory on bank account Date (ddmmccyy) Initial 8

9 Form C Appoint a financial adviser Complete and submit this section with your investment application form if you received advice from a financial adviser Important information Only one financial adviser is applicable per investor code. All fees are explained in the MDD's (fund fact sheets). Initial advice fee: Maximum amounts payable as an initial advice fee are explained in the MDD's (fund fact sheets) Initial advice fees are applied to each contribution and deducted before the investment is made on your Fund Account Financial adviser personal details I wish to appoint the following financial adviser as the preferred adviser on all my Sanlam Namibia Unit Trusts Accounts. Sanlam code Full name(s) Surname Fee instruction Initial advice fee I agree to pay the following initial advice fee (including VAT). Pay the full initial advice fee (including VAT) Pay part of the initial advice fee % No initial advice fee FIA declaration by Financial Adviser Sanlam financial adviser: Broker: I confirm that I have ascertained and verified the identity of I confirm that I have ascertained and verified the identity of this investor as required by the Financial Intelligence Act this investor as required by the Financial Intelligence Act 13/2012 (FIA) and the FIA Regulations. I have seen the 13/2012 (FIA) and the FIA Regulations. I have seen the original (or certified copies of the original) FIA verification original (or certified copies of the original) FIA verification documents.(see Annexure B). Copies of these documents documents.(see Annexure B). Copies of these documents are attached. are attached. Signature of Sanlam financial adviser Signature of broker Initial 11

10 Annexure A Important notes and terms and conditions This Annexure should not be returned with your investment instruction form 1. Important notes 1. Minimum Disclosure Documents and fund information - Please read the Minimum Disclosure Documents (fund fact sheets) which can be found on our website w ww.sanlam.com.na. A full list of our funds is also available at this website. 2. Contact your broker or Sanlam financial adviser if you are unsure about which funds to invest in or which suit your needs. 3. Verification of your details - In terms of the Financial Intelligence Act (FIA), we as the accountable institution, may not establish a business relationship or conclude a single transaction w ith you unless we have taken steps to identify and verify you. We will therefore not invest your funds in the market until we have met the necessary regulatory requirements. 4. Communication preference - You will receive a quarterly statement from us, via or post, depending on your preference. This and other important information will also be available online via our secure services site at 5. If you are authorised to act on behalf of the investor : Please provide us w ith proof of authority to act (Power of Attorney or Court Order). In the case of a company, pension fund, club etc. Minutes of the meeting or resolution and signatures of all signatories will need to be submitted. Application forms for minors must be signed by the parents or legal guardians; irrespective of who the payer of the investment is (e.g. grandparents). 6. Accrued income payment - If you sell all your money market funds, your accrued income will be paid into the same bank account as your repurchase proceeds. 7. Debit order instructions We accept payments from third party accounts (e.g. grandparent investing on behalf of a grandchild). The investment remains the property of the registered investor, regardless of who made the payment. If the debit order is paid from a third party account, the follow ing documents must accompany this form: Individuals: A copy of the third party s ID or valid Passport, proof of banking details (bank statement or confirmation from the bank - not older than 3 months). Non-individuals: A Resolution or Minutes of Meeting from the legal entity stating the list of authorised signatories, proof of banking details (bank statement or confirmation letter from the bank not older than 3 months), an ID or valid Passport copy. We do not draw funds from credit cards, money market or bond accounts. Please allow 3-4 business days notice to process once-off and recurring debit orders. Monthly debit orders will automatically be cancelled if funds are returned from the bank after 3 consecutive occasions. 8. The investment will only be finalised once we receive the fully completed, dated and signed form, w ith all the necessary supporting documents. This includes your verified bank account details and FIA, requirements. Your funds also need to reflect in our bank account and we require proof of deposit if you do not provide the cash reference number. When making payments to us: For electronic transfers, please supply a proof of deposit. All deposits must be in Namibia Dollars or we will return your funds. Your transaction will only be processed when your funds reflect in our bank account and when we have received all the relevant documents. There may be a delay between when you deposit the funds and when it reflects in our account. 9. Payments into your bank account - We only make payments into the bank account of the registered investor. We do not make payments into third party bank accounts, credit cards, money market or bond accounts. Payments will be made via EFT 10. Withdraw all of funds - If the balance after the disinvestment is less than N$ 2000, the full amount will be withdrawn. After disinvesting all your units and your monthly debit order is below the minimum amount, the debit order will be cancelled. 11. Payment of uncleared amounts - Lump sum investments and once-off debit orders clears after 15 calendar days, and recurring debit orders, 28 calendar days. For payment before the w aiting period is lifted, you must include a confirmation from your bank that the payment will not be reversed. 12

11 2. Terms and conditions Sanlam Group is a full member of the Association for Savings and Investment SA (ASISA). 2.1 About unit trusts When you invest in a unit trust (also called a collective investment scheme), your money is pooled with the money of other investors. This pool of money is used to buy a portfolio of assets, such as shares (equities), bonds or listed property. As an investor, the value of the units you own is calculated by taking the number of units you own and multiplying them by the latest ruling price per unit. Forward pricing is used. Details of what each fund invests in, as well as its risk profile, are specified in the Minimum Disclosure Documents (fund fact sheets). The price per unit (excluding money-market type funds) goes up and down according to the value of the underlying assets in the relevant portfolio. Neither your capital nor the return of your investment is guaranteed for any unit trust fund investment. For information on unit trusts and how they work, along with our full range of funds and the relevant Minimum Disclosure Document s (fund fact sheets), please visit our website at or alternatively you can call us on When you complete this form, you apply to buy units in the funds of your choice in line with the Trust Deed and mandate of the relevant funds. The Minimum Disclosure Documents (fund fact sheets) explain how each fund invests and what applicable fees will be charged. Unit trusts are generally medium to long-term investments. Past performance is not necessarily a guide to future performance. Unit trusts are traded at ruling prices and may engage in borrowing and scrip lending. Unit trust prices are calculated on a net asset value basis, which is the total value of all assets in the portfolio, including any income accrual, less any permissible deductions from the portfolio and divided by the units in the portfolio. For money market funds, the price of each participatory interest is aimed at a constant value. While a constant price is mai ntained, the investment capital is not guaranteed. A money market portfolio and short-term debt portfolio is not a bank deposit. The total return of the investment is primarily made up of interest received. The return may also include any gain or loss made on any particular instrument. In most cases this will merely have the effect of increasing or decreasing the daily yield, but in the case of abnormal losses it can have the effect of reducing the capital value of the portfolio. The daily yield is calculated by taking the daily income earned from dividends and interest, subtracting the expenses at a fund level, and dividing it by the current value of all the assets held in the fund. Excessive withdrawals from the portfolio may place the portfolio under liquidity pressures, and in such circumstances, a process of ring-fencing the withdrawal instructions, and managed pay-outs over time, may follow. Portfolios that invest in international investments, or investments in foreign securities, could be accompanied by additional risks as well as potential limitations on the availability of market information. Income payment(s) will only be paid out to a client s bank account if the investment transactions (e.g. debit orders and deposits) used to purchase units have been cleared by the bankers on the income reinvestment date. If the units have not cleared, income payment(s) will automatically be reinvested 2.2 Fees and charges A schedule of fees and charges and maximum commissions is available from the Minimum Disclosure Documents (fund fact sheets): The following charges are levied against the portfolio: brokerage, auditors fees, performance fees, service fees, applicable taxes, custodian fees, bank charges, trustees fees and trailer fees (trailer commission is paid by Sanlam to financial advisers on a monthly basis; it forms part of the annual service charge, which is a fixed percentage per annum that is calculated and deducted daily from the accrued income in the portfolio). These fees are charged to the client: Sanlam manager s fees as well as broker advice fees. Commission and incentives may be paid and if so, will be included in the overall costs. The fund manager may borrow up to 10% of the portfolio to bridge insufficient liquidity. Monthly debit orders will automatically be cancelled if funds are returned from the bank after 3 consecutive occasions. If a debit order or direct debit is returned by the bank due to insufficient funds being available or for any other reason, the units purchased for that transaction will be reversed (at no cost to the client) and the client s Fund Account will be debited with the units allocated. The client will be liable for any bank charges incurred as a result of a direct debit or monthly debit order being rejected by the bank. 2.3 Transaction cut-off times Please make sure you send us your completed instruction (including supporting documents) before the transaction cut-off time. The Namibia business day transaction cut-off times for our funds are: 13:00 for money market funds and, 15:00 for all other funds. We can only process your instruction once we have received the correct and accurately completed form and the required supporting documents. If an instruction is issued incorrectly, is unclear, incomplete, or if the supporting documents are not received by the cut-off time, the processing of the transaction will be delayed. An investment into an existing Fund Account that is deposited into our bank account as instructed in our communication to an investor will not require any supporting documents be sent to Sanlam. Please ensure that you use the correct Fund Account Number as your reference on the EFT deposit. Please make separate deposits for each Fund Account. Your transaction will be priced using the ruling price of the fund for the day the deposit is made and provided that all of the required information has been received. Any loss will be for the investor s account. Any interest earned on: money deposited for investment in a fund after the specified cut-off time, money deposited on a non-business day (i.e public holidays, Saturdays and Sundays) incorrect deposits or, deposits for applications with outstanding requirements, will not be paid to the client as we are unable to transfer the money in the fund(s) portfolio account. If a debit order collection date falls on a non-business day, we will collect it on the first available business day thereafter. 13

12 2.4 Conflict of interest All actual and potential Conflicts of Interest are managed, reported and disclosed in line with the Managers Conflicts of Interest and Outsourcing Policy which is available on request, or on the Sanlam website Ownership, information security and instructions The legal owner of the investment is the person in whose name the investment is registered, regardless of who the payer is. If the legal owner is a minor, we will only accept instructions from his/her natural guardian (e.g. parent) or legal guardian (e.g. appointed by a Court Order). We will only release information to, and act on instructions from, the investor, the authorised signatory or the appointed financial intermediary. We can only process your instructions once we have received the correct and accurately completed form and required supporting documents. If an instruction is issued incorrectly, is unclear, incomplete, or if the supporting documents are not received by the cut-off time, the transaction may be delayed. Any loss will be for the investors account. We permit ring fencing for large withdrawals. Ring fencing is the separation of assets and the delayed sale of units in a unit trust fund. A large sale of units in a unit trust fund, above certain thresh holds, may cause ring fencing. This ensures that the sale of a large number of units will not force us to sell the underlying investments at a price in the market which could have a negative impact on other investors. If your sell instruction is affected by this ring fencing, we will contact you to discuss the process, where applicable. 2.6 Unclaimed assets and how they affect you We follow the Association for Savings and Investment South Africa s (ASISA s), Unclaimed Assets standard. An unclaimed asset is any unit trust investment on which there have been no transactions for ten years, or in the case of a deceased estate, more than three years have passed since we have received the notice of death. Our policy is to continue reinvesting all income distributions (interest) and redemption payments until the unit trust is sold, regardless of the time frame. According to ASISA s Unclaimed Assets standard, we follow a process of tracing investors or beneficiaries on any unclaimed assets. Any reasonable administrative and costs incurred to trace the investor may be recovered from the value of the portfolio, thereby reducing the value of your investment. Tracing will cease where the value of the unit trust investment is less than N$1000 and the costs of tracing exceeds the benefit of tracing. More information on the ASISA Standard on Unclaimed Assets and the processes is available on or from our client service centre on Please note that to prevent your investment becoming an unclaimed asset, it is your responsibility to inform us of any change in your personal information. 2.7 Update your personal details It is your responsibility to keep us informed of any changes in your banking details, personal information or current identification information (e.g. change of address, change of surname and contact details). If any of your details have changed, you will need to complete an Investor Details Update form available from Making changes to your investment Unit trusts are a flexible investment option, which means that you can make changes to your investment as your personal circumstances change. This means you can change your fund selection, sell some or all of your units, and make additional investments. As changes to your investment could impact your original investment goals, please speak to your financial adviser or broker 2.9 Complaints We want to give you outstanding client service, but sometimes things go wrong. If you are dissatisfied with our service, or any of our products have disappointed you, we would like to hear about it. Please get in touch: Telephone: collective@sanlam.com.na Complete a complaint form online at Visit your nearest Sanlam office. Your views are very important to us. When we receive your complaint, a competent team, specifically trained to handle and resolve complaints, will investigate it and try to resolve it as soon as possible in a fair manner. If the complaint has not been resolved to your satisfaction, you may refer it to the Sanlam Arbitrator. The Sanlam Arbitrator is an impartial person that settles disputes between dissatisfied clients and Sanlam How we process your personal information We collect personal information about you to offer you the best service. We will not share this information outside of the Sanlam Group, its associated groups or agents, without your explicit consent. In order to provide you with an effective service, we may be required to share this information with our administrators or agents who perform certain services for us (e.g. mail houses who post your statements on our behalf), members of the Sanlam Group, your appointed lintermediary, as well as with any regulatory bodies as the law requires. We may share your information with foreign regulatory bodies if required. Your information is used for administrative, operational, audit, marketing, research, legal and record keeping purposes. We will take all reasonable steps necessary to secure the integrity of any personal information which we hold about you and to safeguard i t against unauthorized access. If you don t consent to us using your personal information, there mightbe delays or some instructions might not be carried out. You can have access to your information at any time and ask us to correct any information we have in our possession. Please feel free to write to us to obtain a copy of this information. We keep relevant documents for a period of five years or more as required by the law. If you consent to us retaining your personal information for periods longer than five years, we will restrict access to your information. It will only be processed for storage or for purposes of proof (with your consent). 14

13 Disclaimer Sanlam Namibia is part of the Sanlam Group. The Sanlam Group is a member of ASISA. Collective investment schemes, such as unit trusts, are generally medium to long-term investments. Please note that past performances are not necessarily an accurate determination of future performances and that the value of investments / units / unit trusts, may go down as well as up. A statement of fees and levies is available from the Management Company. Additional information of the proposed investment, including brochures, application forms and annual or quarterly reports, can be obtained from the Manager, free of charge. Maximum commissions are available from the manager / scheme. The Trust Manager is registered and approved in Collective Investment Schemes in Securities. Collective investments are traded at ruling prices. Collective investments are calculated on a net asset value basis, which is the total market value of all assets in the portfolio including any income accruals and less any deductible expenses such as audit fees, brokerage and service fees (e.g. bank charges, trustee fees and RSC levies). Actual investment performance of the portfolio and the investor will differ depending on the initial fees applicable, the actual investment date and the date of reinvestment of income as well, as dividend withholding tax. Forward pricing is used. The Manager does not provide any guarantee either with respect to the capital or the return of a portfolio. The performance of the portfolio depends on the underlying assets and variable market factors. Performance is based on NAV to NAV calculations with income reinvestments done on the ex-div date. Lump sum investment performances are quoted. The portfolio may invest in other unit trust portfolios which levy their own fees, and may result is a higher fee structure for our portfolio. All the portfolio options presented are approved collective investment schemes. International investments or investments in foreign securities could be accompanied by additional risks such as potential constraints on liquidity and repatriation of funds, macro-economic risk, political risk, foreign exchange risk, tax risk, settlement risk. The portfolio management of all the portfolios is outsourced to authorised financial services providers. Standard Bank of Namibia is the appointed Trustee of the Sanlam Namibia Unit Trusts Scheme. 15