This is a rand-denominated portfolio offering access to the Marriott International Real Estate Fund without requiring the Investor to obtain permission from the South African Reserve Bank or the South African Revenue Service to transfer the funds offshore. The Investor will invest and disinvest Rands as opposed to foreign currency.
The Marriott International Real Estate Feeder Fund invests exclusively in the Marriott International Real Estate Fund. 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 Marriott International Real Estate Feeder Fund is a rand-denominated feeder fund that invests all its non-cash assets in the Marriott International Real Estate Fund. The objective and mandate of the Marriott International Real Estate 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 J P Morgan Global Bond Index Yield. The underlying fund is approved for sale in South Africa by the Financial Sector Conduct Authority (FSCA). The portfolio is valued and returns are measured in rands.
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|Fund Classification||Global – Real Estate – General|
|Inception Date||3 October 2000|
|Minimum Initial Investment||R500|
|Minimum Additional Investment||R300|
|Minimum Debit Order||R300|
|Distribution Declaration Dates||31 March, 30 June, 30 September, 31 December|
|Distribution Payment Dates||3 to 4 working days after declaration|
|Risk Category||Moderately Aggressive|
The fund is rand-denominated and invests in the Marriott International Real Estate Fund and liquid assets.
|Advisor Initial Fee||maximum 3.0%|
|Advisor Annual Fee||maximum 0.5%|
|Marriott Initial Fee||0%|
|Marriott Annual Management Fee||0%|