Fund of Funds Disclaimer

Collective investments are generally medium to long-term investments. The value of units may go down as well as up and past performance is not necessarily a guide to the future. Collective investments are traded at ruling prices and can engage in borrowing and scrip lending.  Collective investments are calculated on a net asset value basis, which is the total value of all assets in the portfolio including any income accrual and less any permissible deductions from the portfolio.

 

Portfolio performance is calculated on a NAV to NAV basis and does not take any initial fees into account.  Income is reinvested on the ex-dividend date.  The source for fund performance is Morningstar and for benchmark performance it is Stats SA. The asset allocation of the fund is done on a look-through basis utilising the latest underlying fund information available on the day that the NFB fund fact sheets are prepared.

 

Actual investment performance will differ based on the initial fees applicable and the actual investment date. A schedule of fees and charges and maximum commissions is available from the manager/scheme.  Commission and incentives may be paid and if so, would be included in the overall costs.  

 

The NFB range of fund of funds obtains some of  their equity exposure by investing in the NFB Equity Fund. NFB earns a discounted annual management fee of 0.50% (excluding Vat) from said investment. Different classes of units apply to these portfolios and are subject to different fees and charges. Forward pricing is used. Fluctuations or movements in exchange rates may cause the value of underlying international investments to go up or down.

 

Total Expense Ratio (TER):  For the period stated above TER’s of the average net asset value of the portfolio were incurred as charges, levies and fees relating to the management of the portfolio. The ratio does not include transaction costs. A higher TER does not necessarily imply a poor return, nor does a low TER imply a good return. The current TER can not be regarded as an indication of future TER’s. The following charges are levied against the portfolio: brokerage, auditor’s fees, bank charges and trustee fees.  Company scheme:  Sanlam Collective Investments Ltd, P O Box 30 Sanlamhof 7532/Sanlam Head Office, 2 Strand Road, Bellville 7530. Sanlam Collective Investments is a member of the ASISA; NFB is an affiliate member of the Association for Savings & Investment SA (ASISA).