RMI Specialist Managers (Pty) Ltd transfer of ownership form Contract Number Important: Please read the minimum disclosure documents (MDDs, also known as fact sheets) for each portfolio before signing this form. Kindly email the completed form and necessary documentation to RMI.clientservice@momentum.co.za. Alternatively, it may be faxed to +27 (0)12 675 3889. For enquiries, please contact our client service centre on 0860 111 899. Section 1: Details of transferee (The transferee is the person to whom the investment is to be transferred) Note: Please attach a copy of the identity/registration document, certified with three specimen signatures of the authorised signatory. Contract number to transfer to Identity / Registration number* Title Initials Full name(s) Surname / Name of legal entity Contact person for this instruction Contact details Residential telephone number Office number Fax number Mobile Preferred email address Residential/business address Postal code Section 2: Details of transferor Note: Please attach a copy of the identity/registration document, certified with three specimen signatures of the authorised signatory. Country in which investor resides for tax purposes RMI Specialist Managers (Pty) Ltd Registration No. 2015/090537/07 FSP number 46189 3rd Floor, 2 Merchant Place, Cnr Fredman and Rivonia Drive Telephone +27 (0) 11 282 8000 Facsimile +27 (0) 11 282 4210 admin@rmiim.co.za www.rmih.co.za Momentum Collective Investments (RF) (Pty) Ltd Registration No. 1987/004287/07 VAT No. 4870151091 268 West Avenue Centurion 0157 PO Box 7400 Centurion 0046 Share call number 0860 111 899 Telephone +27 (0)12 675 3002 Facsimile +27 (0) 12 675 3889 RMI.clientservice@momentum.co.za www.momentum.co.za/assetmanagement MMI Holdings Limited is a full member of the Association for Savings and Investment South Africa. Directors: A Nortjé BJ van der Ross E Gouws FJC Truter Company secretary: V Mngambi Published: 11 April 2016 Page 1 of 8
Select one of the following: If an individual South-African citizen Foreign national If an entity South-African company Foreign company Partnership Trust Close corporation Non-taxable institution If other Other (specify) Personal details (please complete if you are an individual investor or the authorised representative of the entity) Title Initials Full name(s) Surname of birth Nationality Gender Male Female South African citizen Identity number Income tax number (RSA) Foreign national Passport number Country of birth Country of residence Details of entity (please complete if the investor is in the name of an entity) Name of legal entity Registration number Registration date Income tax number (RSA) Country of incorporation Contact details Residential telephone number Office number Fax number Mobile Preferred email address Would you like to have online access to your portfolio? Residential/business address Yes No Postal code Postal address (if different from above) Postal code RMI specialist managers (Pty) Ltd transfer of ownership form published: 11 april 2016 Page 2 of 8
Registered address (if an entity) Postal code Correspondence Statement type Summary Detail Statement frequency Monthly Quarterly All periodic statements will be sent to your preferred email address stipulated above. Momentum Collective Investments (RF) (Pty) Ltd is on a positive drive to lower its carbon footprint. We would appreciate your support by helping us reduce our use of paper and, in doing so, minimise our effect on the environment. Section 3: Requirements 1. If the transferee does not have an existing Momentum Collective Investments (RF) (Pty) Ltd, please include a new application form, completed and signed by the transferee. 2. Please note that this form cannot be used to effect a security cession. Section 4: Declaration by the transferor I the undersigned, transfer all my right, title and interest in contract number to the transferee All units OR Partially as follows Full names Units Percentage 1. RMI Specialist Managers Money Market Fund % 2. RMI Specialist Managers Multi Income Fund % 3. RMI Specialist Managers Unconstrained Fixed Interest Fund % 1. I instruct Momentum Collective Investments (RF) (Pty) Ltd to effect this transfer. 2. I understand that full ownership and title of the unit trust stated above will pass to the transferee. 3. The transferee is: Spouse Other 4. I warrant that I have full power and authority to conclude this agreement. 5. I warrant that my estate is not insolvent and has not been sequestrated. 6. I warrant that there are no existing cessions on this investment. Signed at of investor Signed at of investor RMI specialist managers (Pty) Ltd transfer of ownership form published: 11 april 2016 Page 3 of 8
Section 5: Financial adviser of transferee Broker house name Broker house code Broker code Biblife / PRI number (if applicable) FSP number Representative name Financial adviser to view my account online transact on my behalf online 1. I/We hereby authorise Momentum Collective Investments (RF) (Pty) Ltd to deduct and pay the initial and annual advisory fees as detailed in the investment details above, to my/our duly appointed financial adviser. 2. I/We understand that the selected advisory fees are negotiated between investor(s) and the appointed financial adviser and I/we cannot hold Momentum Collective Investments (RF) (Pty) Ltd liable for acting on these negotiated instructions. 3. I/We understand that the advice fee will be facilitated by the repurchase of units on a monthly basis from my/our investment before being paid into my/our appointed financial adviser. 4. The negotiated advice fee scales detailed above are to remain in force until written notification is provided to Momentum Collective Investments (RF) (Pty) Ltd that these no longer apply. 5. If no initial or annual advice fee is specified on future transactions, the advice fee would default to the advice fee as indicated on this application form. of investor Full name(s) Surname of parent/guardian/ controlling person Please insert the name of the representative for minors/persons without legal capacity. If signing on behalf of the investor please provide the name of the representative, proof of authority and supporting verifying documentation. of financial adviser Section 6: Declaration by financial adviser I/We hereby certify and warrant that: 1. I/We have met with the investor prior to the investment being placed with Momentum Collective Investments (RF) (Pty) Ltd and the necessary due diligence process as required by legislation has been satisfactorily carried out. 2. I/We have established and verified the true identity of the investor and confirm that identity checks have been undertaken to confirm that the investor s name, address and identity as shown on this Investment Application Form are true and correct. Attached please find certified copies of the documents evidencing the legal structure and existence of the investor as required in the FICA and new business requirements. 3. I/We are not aware of any activities in which the investor is involved which may lead us to suspect or reasonably suspect that the investor is or maybe involved in any unlawful activities or money laundering. Should we subsequently become aware of suspicions of this nature, we shall immediately inform Momentum Collective Investments (RF) (Pty) Ltd. 4. I/We confirm that I/we subscribe and adhere to the fit and proper requirements and other statutory obligations and criteria imposed by legislation covering advice dispensed and/or intermediary services rendered to investors. 5. I/We understand that I/we are the primary accountable institution under the Act. 6. I/We understand that if I/we have selected No, Momentum Collective Investments (RF) (Pty) Ltd will be responsible for the primary Know Your Client requirements of the Act and that the application will be delayed until Momentum Collective Investments (RF) (Pty) Ltd receives all the required Know Your Client documentation. RMI specialist managers (Pty) Ltd transfer of ownership form published: 11 april 2016 Page 4 of 8
I/We confirm that I/we have identified the client, including the investment owner, insured life/lives, contribution/premium payer and cessionary, their residential address and business address where applicable and verified his/her/their details on this contract under the requirements that section 21 of the Financial Intelligence Centre Act, No. 38 of 2001, sets out and also that I/we have stored all the verification documents in terms of section 22 of the same Act. I/We further confirm that I/we have established the source of the client's income and/or the source of the money that the client has used/will use to conclude this transaction. I/We am/are satisfied that the applicable income or source of money is consistent with the client's business activities. I/We gave and explained all documents that apply to this investment to the investor before they signed this application. I/We acknowledge that I/we have personally explained all the fees and charges applicable to this investment and application to the investor. Yes No of financial adviser Full name(s) Surname of parent/guardian/ controlling person Please insert the name of the representative for minors/persons without legal capacity. If signing on behalf of the investor please provide the name of the representative, proof of authority and supporting verifying documentation. Section 7: CIS disclosures Collective Investment Schemes (CIS) in securities are generally medium to long term investments. The value of participatory interests may go down as well as up and past performance is not necessarily a guide to the future. CIS are traded at ruling prices and can engage in borrowing and scrip lending. Momentum Collective Investments (RF) (Pty) Ltd (the manager) may borrow up to 10% of the market value of a portfolio to bridge insufficient liquidity. 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 accruals and less any permissible deductions (brokerage, UST, VAT, auditor's fees, bank charges, trustee and custodian fees and the annual management fee) from the portfolio, divided by the number of units in issue. A schedule of fees and charges and maximum commissions is available on request from the Manager). Commission and incentives may be paid and if so, would be included in the overall costs. Forward pricing is used. Fluctuations or movements in exchange rates may cause the value of underlying international investments to go up or down. Different classes of participatory interests apply to certain Portfolios, which are subject to different fees and charges. The Performance Fee Frequently Asked Questions document is available on the website (http://rmih.co.za/our-investments/rmi-investment-managers/documents-and-forms/). The portfolio valuation time is 08h00 for fund of funds, and 15h00 for all other portfolios. The transaction cut-off time for non-fund of funds is 14h00 on the pricing date, and for fund of funds it is 14h00 on the business day prior to the pricing date. MMI Holdings Limited is a full member of the Association for Savings and Investment South Africa. The Standard Bank of South Africa Limited (PO Box 54, Cape Town, 8000) is the Trustee of Momentum Collective Investments Scheme. Momentum Collective Investments (RF) (Pty) Ltd (Reg No.1987/004287/07) (PO Box 7400 Centurion 0046). Foreign securities within portfolios may have additional material risks, depending on the specific risks affecting that country, such as: potential constraints on liquidity and the repatriation of funds; macroeconomic risks; political risks; foreign exchange risks; tax risks; settlement risks; and potential limitations on the availability of market information. Fluctuations or movements in exchange rates may cause the value of underlying international investments to go up or down. Investors are reminded that an investment in a currency other than their own may expose them to a foreign exchange risk. The terms and conditions as well as the minimum disclosure document (MDD) for each portfolio is available on the website (http://rmih.co.za/ourinvestments/rmi-investment-managers/documents-and-forms/). Associates of the manager may be invested within certain portfolios and the details thereof are available from the manager. Associates of the manager may be invested within certain portfolios and the details thereof are available from the manager. MMI Holdings Limited is a full member of the Association for Savings and Investment SA. The Standard Bank of South Africa Limited is the trustee of the Momentum Collective Investments Scheme, 20th Floor Main Tower, Standard Bank Centre, Adderley Street, Cape Town, 8001. The manager and trustee are registered and approved under the Collective Investment Schemes Control Act (No. 45 of 2002). The manager retains full legal responsibility for the incubator portfolio. The investment manager of the portfolios pertaining to this application form is RMI Specialist Managers (Pty) Ltd, registration number 2015/090537/07 and FSP number 46189. The investment manager is an authorised financial services provider under the Financial Advisory and Intermediary Services Act (No. 37 of 2002), to act in the capacity as investment manager. The address is the same as the Manager. This information is not advice, as defined in the Financial Advisory and Intermediary Services Act (No. 37 of 2002). Please be advised that there may be representatives acting under supervision. A money market portfolio is not a bank deposit account. The price of a participatory interest is a marked-to-market value. The total return to the investor is made up of interest received and any gain or loss made on any particular instrument, and in most cases the return 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. Excessive withdrawals from the portfolio may place the portfolio under liquidity pressures, and in such circumstances a process of ring-fencing of withdrawal instructions and managed pay-outs over time may be followed. The yields of the RMI Specialist Managers Unconstrained Fixed Interest Fund and the RMI Specialist Managers Multi Income Fund are historic and are calculated monthly. The yield of the RMI Specialist Managers Money Market Fund is current and is calculated daily. RMI specialist managers (Pty) Ltd transfer of ownership form terms and conditions published: 11 april 2016 Page 5 of 8
Section 8: Terms and conditions Investors must read the applicable terms and conditions outlined below before signing this form. 1. For the purposes of this application form, an Investor means the holder of a participatory interest/s in a collective investment scheme in securities administered and managed by Momentum Collective Investments (RF) (Pty) Ltd ( the Manager ), which is registered with the Registrar of Collective Investment Schemes. 2. Net asset value (NAV): Prices are calculated on a NAV basis, which is dependent on the total value of all assets in the portfolio including any income accruals and less any permissible deductions from the portfolio divided by the number of participatory interest/s in issue. Permissible deductions include brokerage, securities transfer tax, auditor's fees, bank charges, trustee/custodian fees and the service charge levied by the Manager. Service charge: The service charge for each portfolio is accrued daily and levied monthly on the market value of the portfolio. A portfolio may have a performance-based annual fee, which shall be a variable amount that may either increase or decrease, depending on whether the Manager has added or detracted value for the portfolio relative to the portfolio's benchmark. Refer to the latest minimum disclosure documents (MDDs) for more details. The service charge is usually deducted from the income received by the portfolio/s. 3. Performance fees: Certain portfolios have performance fees which are detailed in the Manager's portfolio summary sheet, available on www.momentum.co.za/assetmanagement and on the latest MDD. Investors may carry a lower proportion of the performance fee relative to performance enjoyed, while other Investors may carry a higher proportion of the performance fee relative to performance enjoyed. Where underlying portfolio/s charge implicit performance fees (i.e. implicit in their unit prices), Investors may carry these performance fees regardless of whether the top-tier portfolio or mandate has outperformed its own benchmark. 4. Total expense ratio (TER): The TER of a portfolio is a measure of the portfolio's assets that were relinquished as operating costs expressed as a percentage of the daily average value of the portfolio calculated over a period of usually a financial year. Typical expenses which are deducted from a portfolio include annual service charges, performance fees, taxes, trustee fees and audit fees. The latest TERs are displayed on the MDDs. 5. Switch: A switch involves selling participatory interests in one portfolio and investing the proceeds in another portfolio. Refer to the Manager's Switch Form for further details as well as applicable fees. 6. Income distributions are made at regular intervals for all portfolio/s. Distributions are declared as specified in the Deed and applicable supplementary deed/s. Refer to the latest MDDs for more details. Distribution payments will only be made if the value of the payment is above R20. 7. The Investor applies to invest in the portfolio/s administered and managed by the Manager in accordance with the provisions of the Deed and any supplemental deed/s executed thereafter as at the NAV price as at close of business on the date of receipt of the money by the Manager from the Investor. 7.1 In the case of an initial investment, no investment application shall be considered or processed unless the Manager is in receipt of the following: 7.1.1 A fully completed application form 7.1.2 Proof of receipt of money, for example deposit slip or proof of electronic transfer 7.1.3 Investment instructions 7.2 The requirements as stipulated in clause 7.1 above must be in possession of the Manager before the daily cut-off time of 14h00. If the requirements are only satisfied after 14h00, the following working day's NAV price shall be used to calculate the purchase value of the investment and the investment will be processed on such following working day. In instances where the Investor is applying for subsequent investment/s, the Investor must forward proof of deposit or bank confirmation slip to the Manager as well as investment instruction completed on the relevant form by facsimile or email to the Manager before the cut-off time of 14h00. Provided the Investor has forwarded proof of deposit or bank confirmation slip and instructions, the application will be processed on the next working day. 8. Foreign investors use the same bank account details noted on the application forms and are issued with a swift code by the bank. Deposits and payments will only be received in South African rands. 9. The Investor authorises the Manager to act upon investment instructions completed on the relevant form received by facsimile, email, internet site or any other electronic medium with regard to any investment in portfolio/s administered and managed by the Manager. The Investor confirms that any electronic record of investment instructions and applications received and processed by the Manager as aforesaid will constitute prima facie proof of the contents of such instructions and applications and the Investor indemnifies the Manager against any losses, claims or damages arising from acting on such instructions and/or applications and confirms that the Manager shall not incur any liability of whatsoever nature in respect of any transfer, payment or other act done in accordance with such instructions and/or applications notwithstanding that it shall be shown that same was not signed, sent or emanated by the Investor. It is also agreed that this authorisation shall remain in force until notice in writing of its termination is received by the Manager and any such notice shall be without prejudice to the completion of transactions already initiated pursuant to this authorisation. 10. All documentation and/or communication received by any form of electronic medium by the Manager from the Investor, including but not limited to, application forms, specific documents required or requested by the Manager, investment instructions completed on the relevant form, proof of deposit or bank confirmation slip and so forth, must not be assumed to be in the possession of the Manager. The Investor must after forwarding an instruction to the Manager's Client Service Centre number as stipulated in the application form confirm that the Manager is in receipt of such instruction. The Manager shall not be held liable for any and all claims, losses and or damages whether indirect, special or consequential and or any expense of any nature whatsoever which the Investor may incur or suffer as a result of the Investor not adhering to the aforesaid. 11. As stipulated in clause 7.1 above, this application form will not be processed before the Manager receiving all of the relevant documentation required, as set out in the Financial Intelligence Centre Act, 38 of 2001 (FICA) and new business requirements document. The Manager reserves the right to request further documentation not referred to in this document, as and when applicable and further reserves the right not to process any Investment instruction/s should any documentation which the Manager requests and or requires; not be provided by the Investor to the Manager. The Manager shall not be held liable for any and all claims, losses and/or damages whether indirect, special or consequential and/or any expense of any nature whatsoever which the Investor may incur or suffer as a result of the instruction not being process timeously by the Manager due to the aforesaid. 12. The Investor undertakes to send the original documents as set out in the FICA and new business requirements document to inform the Manager when any contact details and or other pertinent information has changed and to forward such information and necessary documents to the Manager within 14 (fourteen) days of such change occurring. In instances where the Investor has failed to timeously provide the aforesaid details and documents to the Manager and should the Manager need to trace the Investor, any and all costs associated with tracing the Investor shall be for the account of the Investor. RMI specialist managers (Pty) Ltd transfer of ownership form terms and conditions published: 11 april 2016 Page 6 of 8
13. In the event that the Investor provides instruction for the repurchase of participatory interest/s in a particular portfolio, payment will only be made into the Investor's bank account. Payment will be effected within 14 (fourteen) days of the required documentation reaching the Manager. Where the participatory interests tendered for repurchase have been ceded, the written consent of the cessionary, or alternatively, proof that the cession has been cancelled must be provided before the repurchase can be processed. The Manager will under no circumstances make third-party payments. Furthermore, in the event of the Manager receiving conflicting repurchase instructions, the Manager reserves the right not to act on such instructions received and the Manager shall not be held liable for any and all claims, losses and/or damages whether indirect, special or consequential and/or any expense of any nature whatsoever which the Investor may incur or suffer as a result of the instruction not being process timeously by the Manager due to the aforesaid. 14. Without prejudice to any other rights, which the Manager may have in terms hereof or at law, the Investor agrees that the Manager shall be entitled to recover from the Investor any amount of money paid to the Investor, which the Investor is not entitled to for whatsoever reason, including interest thereon. 15. The Investor's domicilium citandi ex executandi for all notices and processes to be given in terms hereof, is the physical address detailed on this application form or as notified in writing to the Manager. 16. Repurchase and income distribution payments are not transferable (will only be paid to the bank account in the name of the Investor) and can only be made electronically. 17. Any capital gain realised on the disposal of a participatory interest in a collective investment scheme is subject to capital gains tax (CGT). The Manager is obliged to report on the weighted average cost method for CGT purposes. 18. Notwithstanding anything to the contrary contained in the application form, the Manager reserves the right to amend any provision of the terms and conditions contained herein and/or amend any other provision as contained within the application form upon reasonable written notice to the Investor of such amendment and/or cancellation. 19. Notwithstanding anything to the contrary contained in the application form, where an Investor has made an investment via lump sum investment and elects to repurchase participatory interest/s in the portfolio resulting in the Investor's value in such portfolio after the repurchase to fall below R2 000.00, any repurchase instruction will result in the total balance being redeemed alternatively, the Investor may make an additional investment into the portfolio by purchasing additional participatory interest/s to ensure that the minimum balance in the portfolio exceeds R2 000.00. 20. All direct deposits and EFTs must clearly reference the contract number to ensure that the deposit is matched to the correct contract. Where the Manager has been instructed to collect money from the bank account, bank accounts will be debited within 2 (two) working days. The Manager is limited to a maximum amount of R1 000 000.00 per collection. Money will only be invested once the Manager's requirements have been satisfied. Participatory interests bought with a direct debit can only be disinvested or switched after 7 (seven) days. Electronic/internet transfers can take up to 2 (two) working days to appear in the Manager's account. 21. The Investor confirms that neither the Manager nor any of its employees have provided any advice on the suitability of this investment to the Investor's objectives and financial needs. 22. Cooling off rights are not applicable to investments in collective investment schemes. 23. Client statements are issued bi-annually when distributions are paid. Client statements are also available upon request from the Manager. 24. Tax certificates (IT3B and IT3C) are sent to clients annually after the tax year. 25. Complaints may be addressed to the Manager at the address provided on the application form. 26. There may be actual or potential conflicts that may exist between the interests of the Manager and investors, for example, associates of the Manager may be invested within certain portfolios, and the details thereof are available from the Manager. 27. The Standard Bank of South Africa Limited is the Trustee of the Momentum Collective Investments Scheme, 20th Floor Main Tower, Standard Bank Centre, Adderley Street, Cape Town, 8001. RMI specialist managers (Pty) Ltd transfer of ownership form terms and conditions published: 11 april 2016 Page 7 of 8
Contract number Section 9: Portfolio summary sheet (mandatory reading) RMI Specialist Managers Money Market Fund RMI Specialist Managers Multi Income Fund RMI Specialist Managers Unconstrained Fixed Interest Fund Portfolio profile ASISA category The investment objective of the RMI Specialist Managers Money Market Fund is to provide a medium whereby investors can obtain undivided participation in a diversified portfolio of such money market instruments as defined by the Act from time to time. The primary performance objective of the portfolio is to obtain as high level of current income as is consistent with capital preservation and liquidity. Capital gains will be of an incidental nature. South African - Interest Bearing - Money Market The objective of the fund is to achieve a positive real return over a medium investment horizon. The fund will expose investors to the fixed income and credit markets. The fund aims to optimise riskadjusted returns by strategically allocating within the various sources of the fixed interest and credit universe according to current valuations. The portfolio will aim to optimise the yield of the fund whilst compensating fully for the underlying credit risk. South African - Multi Asset - Income The objective of the fund is to maximise both income and capital return over a long-term investment horizon. Given that the fund aims to maximise total return (which includes capital) it is expected to be more volatile than a traditional income fund with more frequent negative monthly returns. The fund will invest in investment grade credit only with variable interest rate risk. South African - Multi Asset - Income Risk Conservative Moderate Moderate Benchmark Alexander Forbes SteFI Composite Index CPI for all urban areas + 2% Income distributions Monthly Quarterly Quarterly Alexander Forbes SteFI Composite Index 1.25% Annual fees 0.40% p.a. including VAT 0.86% p.a. including VAT 0.97% p.a. including VAT Annual performance fees N/A N/A N/A RMI specialist managers (Pty) Ltd transfer of ownership form portfolio summary sheet published: 11 april 2016 Page 8 of 8