The Marriott First World Equity Fund is a UK pound sterling-denominated fund. A South African Investor using Rands to invest requires South African Reserve Bank (SARB) and South African Revenue Service (SARS) clearance to take funds offshore. The Investor will invest and disinvest UK pounds sterling as opposed to Rands.
The fund is a class of shares in an open-ended investment company listed on the Irish Stock Exchange and is regulated by the Irish Financial Services Regulatory Authority.
The objective of the fund is to generate long-term growth and a distributable income through investments in quoted shares which must be constituents of the S&P 500, FTSE 350, FTSE Eurofirst 300. The fund is to be managed in such a way to achieve a gross yield in UK pound sterling terms comparable to the yield generated by the average of the S&P 500 Index, FTSE 350 and FTSE Eurofirst indices and capital growth in excess of UK Consumer Price Inflation. The fund is a class of shares in an open-ended investment company listed on the Irish Stock Exchange and is regulated by The Central Bank of Ireland. The fund is approved for sale in South Africa by the Financial Sector Conduct Authority (FSCA). The portfolio is valued and returns are measured in UK pounds sterling. Marriott Isle of Man Limited provides investment advisory services to the Marriott International Funds and the Marriott Global Funds. Marriott Isle of Man Limited is regulated by the Financial Services Authority of the Isle of Man.
|Fund Classification||Offshore (Equity Fund)|
|Minimum Initial Investment||£20,000|
|Minimum Additional Investment||Any amount|
|Distribution Declaration Dates||28 February, 31 August|
|Distribution Payment Dates||31 March, 30 September|
Investments will be denominated in UK pounds sterling and will be invested in dividend paying equities and liquid assets.
|Advisor Initial Fee||maximum 3.0%|
|Advisor Annual Fee||0.25% or 0.5%|
|Marriott Initial Fee||0%|
|Marriott Annual Management Fee||1.0%|
Asset acquisition costs, audit fees, trustee/depositary fees, bank charges, levies/taxes, share listing fees, share creation fees and service charges are levied against the portfolio.