STANLIB Mul - Manager

Transcription

1 STANLIB Mul - Manager Inves ng in Unit Trusts and Model Por olios A guide in selec ng a suitable mul - manager investment vehicle

2 Vehicle defini ons Difference between a mul - manager unit trust and model por olio offering Ma ers to consider client engagement Summary Agenda

3 01 Defini ons

4 Mul - Manager Vehicle Defini ons Unit trust A collec ve investment por olio that invests in a range of collec ve investment por olios and mandates Normal unit trust (segregated mandates) Fund of Funds (invest in range of funds) Model por olio A model por olio is not a collec ve investment por olio. A model por olio effec vely wraps a selec on of different unit trust funds/mandates together

5 02 Main differences

6 Model Por olio Effec vely Wraps a Selec on of Different Unit Trust Funds/Mandates Together Vehicle Model por olio Unit trust Regula on No separate legal status CISCA Unit holder No unit holders Client owns units Securi es Client owns securi es Unit trust owns underlying securi es Taxa on/impact of changes Trigger CGT event No CGT event

7 Example: Fund of Funds Must consist of not less than two underlying por olios Provided the investment in any one por olio may not exceed 75% of the value of the fund of funds Fe ered and unfe ered fund of funds

8 03 Ma ers to consider - client engagement

9 Ma ers to Consider Client Engagement Vehicle Model por olio Mul - manager unit trust Investment size High minimum amounts Typically R50m Low minimum amounts Typically R500 Access Only via LISP LISP and/or Manco Customiza on Underlying investments White labeling / bespoke provides flexibility Not limited to Unit Trusts only Not allowed As per CISCA rules Performance sta s cs May lack disclosure Regularly published in the media Advisor fees Not regulated can be high Regulated by industry

10 04 Summary

11 Summary Mul - Manager Investment Vehicles 1 Different investment vehicles are available (1) ensure clients have a good understanding during the engagement process 2 3 Clarity around the above (2) will guide the client in his/her decision which vehicle to select from Lastly, each investment vehicle provides access to a number of por olios - (3) the client s investment objec ves / risk profile will determine the appropriate por olio to select from

12 Disclaimer Informa on and Content The informa on and content (collec vely 'informa on') provided herein is provided by STANLIB Mul - Manager as general informa on for informa on purposes only. STANLIB Mul - Manager does not guarantee the accuracy, suitability or poten al value of any informa on or par cular investment source. Any informa on herein is not intended nor does it cons tute financial, tax, legal, investment, or other advice. Prospec ve and exis ng clients should be encouraged to consult their qualified Financial Advisor before making any decision or taking any ac on regarding their finances. Nothing contained herein cons tutes a solicita on, recommenda on, endorsement or offer by STANLIB Mul - Manager. Copyright The informa on provided herein is the possession of STANLIB Mul - Manager and is protected by copyright and intellectual property laws. The informa on may not be reproduced or distributed without the explicit consent of STANLIB Mul - Manager. Disclaimer STANLIB Mul - Manager has taken care to ensure that all informa on provided herein is true and accurate. STANLIB Mul - Manager will therefore not be held responsible for any inaccuracies in the informa on contain herein. STANLIB Mul - Manager shall not be responsible and disclaims all loss, liability or expense of any nature whatsoever which may be a ributable (directly, indirectly or consequen ally) to the use of the informa on provided. STANLIB Mul - Manager Limited Registra on No: 1999/012566/06. A Financial Services Provider licensed under the Financial Advisory and Intermediary Services Act, 37 of FSP license No. 26/10/763

13 It s not just what goes INTO your por olio but also what s BEHIND your por olio