This is a US dollar-denominated portfolio which invests outside of South Africa. A South African Investor using rand 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 US dollars as opposed to rand.
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 and mandate of this fund is to generate long-term capital growth and a distributable income stream through holding a combination of dividend paying equities, bonds, listed real estate securities and money market instruments. The fund will be managed to achieve a gross yield in US dollar terms comparable to the yield generated by the average of the S&P 500 Index and the JP Morgan Global Government Bond Index, and generate capital growth in US dollars in excess of US 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 its returns are measured in US dollars. 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 Asset Allocation|
|Minimum Initial Investment||$30,000|
|Minimum Additional Investment||Any amount|
|Distribution Declaration Dates||28 February, 31 August|
|Distribution Payment Dates||31 March, 30 September|
|Risk Category||Moderately Aggressive|
Investments will be denominated in US dollars, euro and UK pounds sterling, and reported in US dollars.
|Advisor Initial Fee||maximum 3.0%|
|Advisor Annual Fee||0.25% or 0.5%|
|Marriott Initial Fee||0%|
|Marriott Annual Management Fee||1.5%|
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.