We believe in the value of sound advice and so recommend that you consult a financial planner before buying or selling unit trusts. You may, however, buy and sell without the help of a financial planner. If you do use a planner, we remind you that they are entitled to certain negotiable planner fees or commissions.
You should ideally see unit trusts as a medium- to long-term investment. The fluctuations of particular investment strategies affect how a fund performs. Your fund value may go up or down. Therefore, we cannot guarantee the investment capital or return of your investment. How a fund has performed in the past does not necessarily indicate how it will perform in the future.
The fund fees and costs that We charge for managing your investment are disclosed in the relevant fund's Minimum Disclosure Document (MDD) or table of fees and charges, both available on our public website or from our contact centre.
Additional information of the proposed investment, including brochures, application forms and annual or quarterly reports, can be obtained, free of charge, from Old Mutual unit Trust Managers (RF) (Pty) Ltd. from our public website or our contact centre on 0860 234 234.
Our cut-off time for client instructions (e.g. buying and selling) is at 15:00 each working day for all our funds, except the Money Market Funds, the price of which is set at 13:00. These are also the times we value our funds to determine the daily ruling price (other than at month-end when we value the Old Mutual Index Funds and Old Mutual Multi-Managers Fund of Funds range at 17:00 close). Daily prices are available on the public website and in the media.
Unit trusts are traded at ruling prices, may borrow to fund client disinvestments and may engage in script lending. The daily ruling price is based on the current market value of the fund's assets plus income minus expenses (NAV of the portfolio) divided by the number of units on issue.
MONEY MARKET PORTFOLIOS
A money market fund is not a bank deposit account. Its unit price aims to be constant but investment capital is not guaranteed. The total return is primarily made up of interest (declared daily at 13:00) but may also include any gainnoss on any particular instrument. In most cases this 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 fund. The published yield is calculated using the average of the fund's previous seven days' net income (and assumes all income was reinvested). This figure is then annualised, which is the weighted average compound growth rate. Excessive withdrawals from the fund may place the fund under liquidity pressures. In such circumstances a process of ring-fencing of withdrawal instructions and managed pay outs over time may be followed.
Income funds derive their income primarily from interest-bearing instruments as defined. The yield is a current yield and is calculated daily.
FUNDS OF FUNDS
A fund of funds is a portfolio that invests in other funds which levy their own charges. This could result in a higher fee structure for the fund of funds.
A feeder fund is a portfolio that invests in a single fund which levies its own charges. This could result in a higher fee structure for the feeder fund.
THIRD-PARTY NAMED PORTFOLIOS
Old Mutual Unit Trust Managers (PF) (Ptyl Ltd is the manager of the co-branded fund and has full legal responsibility for it.
FUNDS HOLDING FOREIGN ASSETS
Some funds hold assets in foreign countries and therefore may have risks regarding liquidity, the repatriation of funds, political and macroeconomic situations, foreign exchange, tax, settlement, and the availability of information.
Details of any awards are available from Old Mutual Unit Trust Managers (RF) (PTY) Ltd on request.
An initial charge (from 0% to max 5.7% of the investment amount) is deducted prior to the purchase of units. This charge may include commission (up to 3.42% of the investment amount).
An annual service fee is calculated on the market value of the fund's assets (excluding income and permissible deductions) and deducted from the portfolio on a monthly basis. The Old Mutual Alba raka Equity Fund, Old Mutual Income Fund A3, Old Mutual Balanced Fund A3 and the Old Mutual Interest Plus Fund A pay a trail fee out of their annual service fee as indicated on their respective fact sheets. Further fees that may be deducted from the fund's portfolio are compulsory and bank charges, brokerage, marketable securities tax, other taxes and levies, custodian and trustees fees and audit fees.
The fund's TER reflects the percentage of the average Net Asset Value of the portfolio that was incurred as charges. levies and fees related to the management of the portfolio. A higher TER does not necessarily imply a poor return, nor does a low TER imply a good return. The current TER cannot be regarded as an indication of future TERs.
TRANSACTION COST (TC)
Transaction Cost (TC) is a necessary cost in administering the fund and impacts fund returns. It should not be considered in isolation as returns may be impacted by many other factors over time including market returns, the type of fund, the investment decisions of the investment manager and the TER.
The Net Asset Value to Net Asset Value figures are used for the performance calculations. The performance quoted is for a lump sum investment. The performance calculation includes income distributions prior to the deduction of taxes and distributions are reinvested on the ex-dividend date. Performances may differ as a result of actual initial fees, the actual investment date, the date of reinvestment and dividend withholding tax. Annualised returns are the weighted average compound growth rates over the performance period measured.
LIABILITY FOR LOSS
Old Mutual Unit Trusts shall not be responsible and disclaims all liability for any loss, liability, damage (whether direct or consequential) or expense of any nature whatsoever which may be suffered as a result of or which may be attributable, directly or indirectly, to the use of or reliance upon any information, links or service provided through this website.
The news contained in any electronic newsletter should not be regarded as an offer to sell or a solicitation of any offer to buy any investment or to enter into an investment agreement in any jurisdiction. Information and opinions contained therein have been compiled or arrived at by Old Mutual Unit Trusts from sources believed to be reliable, but Old Mutual Unit Trusts does not accept liability for any loss arising from the use thereof nor makes any representation as to their accuracy or completeness.
No liability is accepted by Old Mutual Unit Trusts and no representations are made as to the currency, accuracy or completeness of documents or other material in any electronic newsletter.
OLD MUTUAL UNIT TRUST MANAGERS
Old Mutual unit Trust Managers (RF) (PTY) Ltd is a registered manager in terms of the Collective Investment Schemes Control Act 45 of 2002. Old Mutual is a member of the Association for Savings and Investment South Africa (ASISA). Old Mutual Unit Trust Managers has the right to close the portfolio to new investors in order to manage it more efficiently in accordance with its mandate.