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 provide a high and growing income stream from a portfolio of internationally listed real estate securities as well as long-term capital growth. The investment universe for this fund is listed real estate securities on international stock markets. The fund benchmark is a yield comparable to the JP Morgan Global Bond Index Yield.
|Fund Classification||Offshore (Real Estate)|
|Minimum Initial Investment||$30,000|
|Minimum Additional Investment||Any amount|
|Distribution Declaration Dates||28 February, 31 August|
|Payment Dates||31 March, 30 September|
|Risk Category||Moderately Aggressive|
The fund endeavours to be fully invested in listed real estate securities worldwide, and reports 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||1.0%|
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.