28e Capital (Pty) Ltd

Transcription

1 28e Capital (Pty) Ltd (FSP license number: 42800) 28e Capital (Pty) Ltd-Investment Portfolio Application form & Mandate 28e Capital (Pty) Ltd 28e Capital is authorized as a discretionary Financial Services Provider (FSP) in terms of section 7 of the Financial Advisory and Intermediary Services Act (FAIS) of 2003 (license number: 42800) ACCOUNT MANDATE THIS IS AN AGREEMENT ENTERED INTO BETWEEN 28e Capital (Pty) Ltd. Co. reg. 2003/012209/07 AND (here after referred to as the Client) (hereafter referred to as 28e Capital) 1

2 FOR THE MANAGEMENT OF INVESTMENTS Distribution of contract notes and statements: Please indicate how you wish to receive your contract notes and statements: Post Do you wish to be sent company reports, proxy forms, notices, circulars or any other communication, in respect of equity securities of which you are beneficial owner? YES NO INVESTMENT DETAILS 1. Execution of the mandate will be as follows (kindly select the option applicable to your account): 28e Capital will: A) Exercise full discretion in the management on behalf of the client In order to assist you in structuring a portfolio that is effective in attaining your investment objectives please provide us with the following information. Please note this is only guidelines to follow: 2. Please complete beneath only if managed full discretionary account is selected above My investment objective and Long-term capital preservation Max after tax Max capital appreciation Max income yield Max growth Other Investment time frame Medium 3-5 years Long term 5years + 3. Will the emphasis be on Equity exposure Other investment vehicles 4. If income is required how much R 5. Do you have international investments YES NO Has your International portfolio been constructed with the same objectives as your local portfolio? YES NO What % of your current allowance would you wish to invest offshore? % Have your investments ever been professionally matched to your individual requirements in the past? YES NO Additional information: 2

3 7. Risk portfolio Risk in an investment context is the fluctuation in the value of your capital over time. Return is your reward for acceptable levels of risk Correct diversification over medium to long term periods is a proven method of maximizing return and minimizing risk. Focused Aggressive Flexible Growth (Blue chip, mid and small caps) Return Balanced Blue chip Top 40 Risk acceptance Absolute Guarantee CASH Risk As an investor where would you place yourself on the scale? 10 High risk 8 6 Higher risk (Focused) Investments with potential for exceptional returns Medium risk (Growth (blue chip, mid and small cap)) Investment with Potential for good returns low risk Lower risk (Blue Chip Top 40) Investment with potential for moderate returns Low risk - Cash Indication of Asset Allocation (Blue chip Top 40 Blue chip, mid and small cap, Focused) Aggressive Moderate Conservative (Equity Portfolio) (Balanced Portfolio) (Income Portfolio) Mostly shares Balance of shares, cash Cash, bonds, shares, property Rand hedge and bonds, Rand hedge Rand hedge 3

4 Particular Schedule Individual Joint Account Trust Company Title, Full name & Surname Residential address and code Code Contact numbers: Work Home Fax Cell Postal Address S.A. ID number, Trust number, Company registration no: Banking details: Bank & Branch name Account name Branch code Acc No Investment preference Aggressive Moderate Conservative Share Portfolio Unit Trust Portfolio Cash R R Existing investments R R Total value R R Portfolio & Fees (excl.vat): Portfolio Type Annual management fees on all managed portfolios: In consideration of services to be provided by us in terms of this mandate, we shall be entitled to charge a management fee of % per annum (plus VAT), levied monthly in arrears. 4

5 Declaration I declare that all the information is true and correct and that I have read and understood the contents of the material obligations contained herein. I hereby appoint 28e Capital (Pty) Ltd as my agent to manage and administer investments on my behalf subject to the terms and conditions of this agreement. Signed at on this day of Client signature 28e Capital (Pty) Ltd 5

6 General Terms and Conditions 1. This is a mandate as contemplated in terms of the Financial Advisory and Intermediary Services Act, 2002 and subordinate legislation ( FAIS ) 2. The words and phrases used in this mandate shall, unless the contrary appears, have the meaning ascribed to them in the FAIS or any replacement act or acts and any relevant conditions promulgated under such acts (together, the applicable legislation ). 3. By your signature to this document including on the Schedules annexed hereto, you authorize 28e Capital to manage your investments as set out in the mandate subject to terms and conditions contained herein and in the schedules annexed hereto and subject also to the applicable legislation. We shall, in particular, in managing your investments comply with the relevant provisions of the rules. 4. Immediately upon signature hereof, 28e Capital shall on behalf of the client, in terms of an agreement with a member of the JSE and/or member of the Financial Exchange and/or Authorized Financial Service Provider ( FSP ) ( The Registered member ) and through the said Registered member, open an investment account in the client s name with the Johannesburg Stock Exchange Trustees (Pty) Ltd or the independent nominee of the FSP e Capital shall lodge with the Registered Member the investments listed on the securities receipt annexed hereto and/or deposit into the account of the Registered Member the sum disclosed on the cover hereto The investments, including the cash deposit (if any), valued at the market value prevailing at the date of signature of the mandate by 28e Capital ( the date of acceptance ) shall form the initial investment portfolio. 7. Any transactions in the investments initiated by 28e Capital in terms hereof shall be conducted through a Registered member from those appointed by 28E Capital. 28e Capital shall obtain and transmit to a client any information which a relevant product supplier must disclose in terms of any law, unless the client in writing specifically requested 28e Capital not to provide such information. 28e Capital may where applicable, in order to render an intermediary service to the client, utilize the services of its own staff or that of another approved FSP. 8 28e Capital shall be entitled, in its sole and absolute discretion and without prior consultation with the client, either to maintain the initial investment portfolio, or buy and sell any investments for the client s account and/or invest any funds accruing to the investment portfolio via registered Financial Institutions. The client hereby appoints 28e Capital to purchase and sell and to enter into any transaction in accordance with this mandate, to vote on behalf of clients in respect of their investments and in accordance with the client s subsequent written instructions, both in the Republic of South African and, if and when permitted by law, in foreign countries in respect of the following (referred to herein a investments ): 8.1 listed and unlisted securities and financial instruments (The Risk Disclosure Statement which contains information regarding the risks inherent in financial instruments will be made available if exposure to such investments is required); 6 own account any investment owned by 28E Capital, nor buy from you any such investment for our 28E Capital account. 10. All investments shall be held by the Registered Member, in trust on behalf of the client Unless otherwise specified in the Particular Schedule The client warrants that all such investments as the client may deliver or cause to be delivered to 28e Capital in terms of this mandate are not subject to any lien or charge and that they shall remain free of any such lien or charge while they are held in safe custody. all investments other than cash and bearer instruments managed by 28e Capital in terms of this mandate shall be registered in the name of the Nominee Company of the Registered Member as nominee on behalf of the client and for the client s benefit, unless they are bearer instruments and are thus not capable of being so registered; and all such investments shall be held by the Registered Member in safe custody (in fungible consolidated share certificate form where appropriate) on your behalf subject to the applicable legislation and in particular, the rules. Upon the introduction of a central depository or electronic script registry as approved by the JSE, the Client s investments shall be held by the Registered Member in safe custody, reflected as an electronic entry in such registry subject to any relevant legislation and the JSE s rules. If the Registered Member is not an account holder in such depository or registry, they shall be entitled to create an electronic entry in respect of the investments in the depository or registry through a participant of their choice. Any such investments shall be held to the client s order via the participant s nominee. The client authorizes the Registered Member to hold any such investments in fungible consolidated share certificate from ( jumbo certificates ) and to move investments from one electronic entry to another or withdraw any such investment from safe custody for the purpose only of transferring the investments to the client or upon termination of this mandate. In such case, the investments will be sent at the client s risk by courier or registered post to the client s address stipulated in the Particular Schedule or to such other address as the client notifies 28e Capital in writing; dealing with the investments as may actually be required in fulfilling this mandate; lodging the investments on the client s behalf with any person or entity in terms of an order of court or a special resolution of the issuer of the investments; 14.4 where the investments are held in jumbo certificates with other investments not owned by the client, to facilitate the sale of such other investments; 14.5 any other lawful purpose in terms of this mandate. 8.2 warrants to subscribe for the investments referred to in 8.1above; 15. It is specifically recorded that we may not exercise the rights 8.3 depository receipts or other instruments relating to the investments attaching to any investments for our own purpose or interest referred to in 8.1 and 8.2 above; buy may act in accordance with your instructions except in the 8.4 unit trusts and similar schemes; case where there is a current pledge and cession in favour of a 8.5 endowments, annuities, retirement funds and life assurance products; bank in which case duly authorized instruction from such Bank 8.6 krugerrands and similar investment coins and, subject to any statutory will be executed. regulations, bullion; 16. All cash deposits including interest, dividends, proceeds of 8.7 investments similar to or related to any of the foregoing or disposals and cash, received by the Registered Member for contemplated in the acceptable legislation; and your account arising from the management of your investments 8.8 any other securities or financial instruments set out in the Particular in terms of this mandate shall be paid by the Registered member Schedule annexed hereto. for your credit and in your name into JSE Trustees (Proprietary) 9. Unless specifically authorized by the client, 28e Capital shall not in its capacity as manager of the client s investments in terms of this mandate take position against the client, nor sell to the client for Limited ( JSET ) in terms of the JSE s rules unless we pay the cash over to you on receipt of it, or transfer the funds to your money market account.

7 17. Where this mandate is terminated, or where you have instructed 28e Capital by notice in wiring to realize and repay to you any portion of the investments under management, the Registered Member shall pay any cash into the Client s bank account as stipulated in the Particular Schedule annexed hereto. 18. You authorize the Registered Member to retain or to withdraw from any cash deposited by the Registered Member on your behalf in JSET such amounts as are actually required to - pay for investments purchased on behalf of the client; effect such other payments as are strictly necessary in the operation of this mandate; and discharge a debt due to 28E Capital, a financial adviser or the Registered Member from the client whether in respect of the management fees due under this mandate or otherwise. 19. Nothing in this mandate affects the client s right to require upon written instruction to us to require the Registered Member to pay to the client or into the bank account as stipulated in the Particular Schedule annexed hereto, on written request from the client, any cash deposited on your behalf as JSET and to deliver to the client, or, in respect of uncertificated securities, transfer to your order, on request, any investments held on your behalf. 20. The client shall pay an initial establishment fee and an annual administration fee (+ VAT) as detailed on the particular schedule) as amended from time to time. The management fee is levied monthly in arrears based on the portfolio value at the end of each month (the value of any capital withdrawals made during the month are added to the portfolio value at the end of the month). The fee becomes payable on the JSE month end (usually the last Friday of the month). 28e Capital is specifically authorized to realize any investment held in terms of this mandate should there be insufficient cash available to settle any amount due. Should the mandate be terminated during the calendar month, the annual management fee in respect of the whole month shall be payable on the date of termination. Similarly, any outstanding establishment fees shall be payable on the date of termination. 21. All transaction costs and the cost of services supplied directly to the client by the Registered Member/Custodian will be borne by the client. The Registered member may recover the cost of services supplied to the client directly from the monies standing to the credit of the client. 22. The client confirms that where a financial adviser is nominated on the particular schedule that an agreement has been entered into in terms of which the client undertakes to pay the fee stipulated to the nominated financial advisor. The client hereby instructs 28e Capital to deduct an amount equal the financial advisors fee from the amount placed under 28E Capital management and pay the amount to the financial adviser on behalf of the client. 23. Should 28e Capital and the client agree to increase the Investment Portfolio during the currency of the mandate, the initial establishment fee stated on the particular schedule shall be applied to this increase and shall be charged accordingly e Capital conducts business with other Investment Managers, Collective Investment Schemes, Members of a Licensed Exchanges, Linked Product Service Providers and Financial Institutions and will in the normal course of business receive commission, incentives, fee reductions or rebates for placing client s funds with them. 25. The Registered member shall furnish the client with a hard copy monthly statement of account (as well as an electronic statement at the option of the client) showing details of any change in the investments held on behalf of the client, including any cash held by JSET at the date of the statement of account. Such details shall include but not be limited to the period for which investments were held and the amount of interest paid by JSET in respect of the cash held by JSET on your behalf. 26. This Mandate shall commence form the date of signature and shall continue thereafter for an indefinite period. Either party shall be entitled to cancel this agreement notifying the other party to that effect in writing or any such cancellation shall be effective 30 days after for any reason, no penalty shall become due to either party in respect of such termination. Such termination shall not however, affect any outstanding order or transaction placed on the client s behalf prior to the termination of the mandate or any legal rights or obligations which may then already have arisen. 27. Although it is 28E Capital s objective to manage the portfolio in such a way that it will achieve growth in excess of the rate of inflation, 28e Capital gives no warranties or undertakings in this regard and shall not be liable for any loss, damage or injury which the client may suffer as a result of any decision made or instruction given in good faith by 28e Capital in terms of this agreement. The client should be aware that the value of investments is not guaranteed as the underlying prices may fall as well as rise. 28 Foreign Investments 28.1 Where applicable, and to the extend permitted by the applicable regulations, 28e Capital may purchase and sell and enter into any transaction in Investments that are listed or traded primarily outside the RSA ( Foreign Investments ). In undertaking transactions in Foreign Investments, you are advised that the conversion of South African Rands to foreign currency is subject to any conditions imposed by the Exchange control Department of the South African Reserve Bank ( Exchange Control ) receipt the Investment amount, approval of the application by 28e Capital and/or the relevant investment manager or administrator or delegates, who may decline the application at their discretion. In the event that your application is denied or cancelled, you hereby indemnify 28e Capital against any claim for loss or damage which you may sustain as a result thereof, including any interest or exchange rate fluctuation Orders or any other transaction in Foreign Investments may be passed to overseas branches or companies of 28e Capital for execution, or any other intermediate broker, investment manager or administrator (selected at 28E Capital s discretion). Orders or any other transaction in Foreign Investments will be subject to the terms and conditions of the intermediate broker, investment manager or administrator selected by 28e Capital and the applicable regulations. We shall submit to your for payment, or may recoup from you, any administration fees, charge or management fees charged by the investment manager or administrator party for the management of your Foreign Investments. Where applicable, you agree to be bound by and shall act in accordance with the rule of any Foreign Investment, including any rules relative to the redemption thereof. You also agree not to cede, assign, make over or transfer any obligations in relation thereto without 28E Capital s prior written consent A transaction in Foreign Investment can involve significant risk. Any Foreign Investments referred to herein may be illiquid and may not be suitable for all investors. The value of, or income from, any Foreign Investments may fluctuate and/or be affected by changes in exchange rates. Only investors with sufficient knowledge and experience in financial and business matters to evaluate the relevant merits and risks should consider transacting in Foreign Investments. By your signature hereto, you acknowledge that you have been informed of the risks inherent in Foreign Investments. In addition, you accept that such risk may result in financial loss to you e Capital can give no guarantee of the tax treatment or tax relief and that the current tax treatment will remain the same in the future. The client hereby indemnifies 28e Capital and hold us harmless in respect of any income tax or other tax or levy of whatsoever nature in respect of which the client may become liable or which may become payable pursuant to anything done by us on your behalf in terms of this 7

8 receipt by the other party thereof. Should this mandate be terminated Tax on interest accruing for your benefit on any cash amount deposited by us in terms of this mandate, and Tax on the increase in value of any investment administered or managed by us on your behalf and for your benefit. mandate, and in particular: 34 28e Capital chooses Suite 2d2 Centurion Gate Office Building, c/o John Vorster & Akkerboom Str Centurion, 0140 and the client chooses its physical address appearing on the Particular Schedule annexed hereto, or such other physical and postal 30. Furthermore, the client undertakes to refund to 28e Capital on demand any amount which we may be called upon to pay by any revenue authority in respect of any such interest of gain accruing to the client and further authorize 28e Capital to pay any such amount out of the investments or realized proceeds of the investments managed by us on the client s behalf or under our control. 31. Where confirmation of a transaction is transmitted to the client through an electronic medium, 28e Capital shall not be liable to the client or another person receiving the confirmation for or in respect of any direct, indirect or consequential liability, loss, damage or cost of any kind or nature arising by virtue of the fact that the confirmation is sent through an electronic medium, whether or not as a result of the destruction of the date, system malfunction, interruption of communication links or any other problem over which the firm has no control e Capital may, after having advised the client in wiring, assign its rights and obligations in terms of this contract without obtaining the client s consent. 33. Portfolio establishment, management and performance fees excluded value added tax * * * addresses as may be stipulated by notice in writing as our respective domicilium citandi et executandi for the purpose of the service of all notices and process pursuant to this mandate The document constitutes the sole record of the agreement between the parties, and no party shall be bound by any representation, warranty, promises or the like not recorded herein. The client acknowledges that 28e Capital accepts no responsibility for any monies and/or documents of whatsoever nature without the written receipt issued by 28E Capital. No addition or variation or amendment of this mandate shall be binding unless contained in a written document signed by or on behalf of both of us. No term, provision, condition or representation relating to the subject matter hereof, not contained herein or in the annexes hereto shall be binding on either of us. Any notice given in terms of this mandate shall be given in writing and shall be deemed, unless the contrary is proved, if delivered by hand, to have been received on the date of delivery; transmitted by facsimile or , to have been received on the date of transmission; and sent by post, to have been received 10 days after the date of posting. The schedules annexed hereto, if signed by or on behalf of both of us, shall be binding on us as if specifically incorporated into the mandate until cancelled by notice in writing as contemplated herein. Client Signature By your signature of this mandate, you authorize 28e Capital to manage your investments in accordance with your instructions as set out in this mandate subject to the terms and conditions of this mandate and subject also to the applicable legislation. You acknowledge that you have read, understood and accepted the terms and conditions of this mandate. Signed at on this day of 200. Client signature Who warrants his authority to sign this agreement Assisted by (If under legal disability) 28e Capital (Pty) Ltd 28e Capital hereby undertakes to carry out the terms of this mandate in accordance with the provisions of the relevant rules and directives of the JSE, and in accordance with any other rules, directives or decisions of the JSE which may now have or which may in the future have a bearing on the conduct of managed accounts and will try to achieve the best results which are compatible with our objectives. Signed at on the day of 200. FOR 28E CAPITAL (PTY) LTD Director, who warrants his authority to sign this agreement. Suite 2d2 Centurion Gate Office Building. c/o John Vorster & Akkerboom Str Centurion Tel Fax futures@28e.co.za Directors: H Gous en C da R Amorim 8

9 28e Capital FEES SCHEDULE CHARGES EXCLUDING VAT: Brokerage rate charged per transaction: Scale start scale end % commission % end value 0.50% All transactions are subject to a minimum fee of R Monthly administration charge: R40.00 Annual Service fee: R00.00 Payment fees: Cash deposit fees: none No cash deposit is accepted Management fee: Off market settlement/pf transfer charge: Rematerialization of securities: Account closure admin charge: 1% fee per annum, charge monthly R per counter R per certificate R payable on receipt of instruction Management fees are charged monthly but calculated on a per annum basis. Performance are calculated from the high water mark minus previous performance fees. OTHER CHARGES EXCLUDING VAT: STRATE settlement cost: less than R R10.92 Greater than R but less than R1million % Greater than R1million R54.59 Investor Protection Levy: % Uncertificated Securities Tax (UST): 0.25% on purchase value VAT is payable on all of the above charges excluding UST at a rate of 14% ** Note: All fees are subject to change. ** Additional fees are levied on client accounts for special services rendered, example Scrip Lending and Borrowing Fees 9

10 Documentation checklist Personal Capacity Trust (in addition to personal) Company (in addition to personal) 28E Capital Mandate Particular Schedule FICA documentation ID document Proof of residential address (not older than 3 months) B Bank statement/cancelled cheque (not older than 3 months) Proof of tax number (any SARS document) Letter of appointment Termination letter Letter of authority Details of beneficiaries Details of trustees Bank statement of both trust & trustees Resolution authorizing trustee Details of shareholders / members Details of directors 10