Wealth and Investment Management

Absa Fund Managers Limited Reg No 1991/000881/06

Authorised Financial Services Provider Absa 3664 EX (WIM) Fundisa (28/08/2017)

Wealth and Investment Management Confidential

Individual client static information

All sections must be completed in full. Please indicate all options selected by means of a tick (). Kindly initial next to any amendments made

on the application form. Where a section is not applicable, please strikethrough and annotate as such.

1 Office use

Existing Absa client Yes No Existing account/investment number

Client code CSA check reference number

BDA number Account number allocated

2 Client details

Client: Individual Deceased Estate Joint and Several Minor Note: If joint and Several, please attach the details of

Joint and Several in separate addendum.

Title: Mr Mrs Miss Other, please specify

Surname

Full name(s)

Relationship to client

ID type: ID book Passport ID/Passport number

Date of birth D D M M C C Y Y Language Preference: English Afrikaans

Passport details:

Nationality Country passport issued

Country of birth City of residence

Date issued D D M M C C Y Y Gender: Male Female

Temporary resident details:

Temporary resident number

Permit expiry date D D M M C C Y Y

Marital status: Married Single Divorced Separated Widow/Widower Other, please specify

If married, state whether: Antenuptial Contract (with accrual) Antenuptial Contract (without accrual) Community of

Property

Other, please specify

3 Address details

Physical/Residential address

Suburb Town/City Postal code

Country

Postal address Same as physical address


Country

Residential status: Living with parents Other, please specify

4 Contact details

Contact person name: (Applicable only for Joint and Several client)

Telephone (W) Telephone (H)

Cell Fax

Communication preference: Email Post Telephone SMS

Primary email address Secondary email address

5 Education/Employment details

Do you have a post matric qualification? Yes No

Post matric qualification: Degree Diploma Other If other, please specify

Occupational status: Full-time employment Self-employment Unemployed Retired

If other, please specify

Occupation

Do you receive a Social Grant? Yes No

Occupational level: Senior Management Management Supervisor Skilled worker Semi-skilled worker


Employment sector: Agriculture Civil Service Construction Education

Finance Health Legal Profession Media

Natural Resource Science/Computing Security Sales

Transportation If other, please specify

Employer’s name

Employer’s address


Employed since D D M M C C Y Y Name of Absa Group Scheme

6 Next of kin details

Title: Mr Mrs Miss If other, please specify

Surname

Full name (s)

Relationship: Brother Cousin Father Friend Husband Mother Sister Wife


Telephone (W) (H)

Cell Email

7 Additional client details

Source of Income/Funds: Include details of the on-going revenue streams or specific income arising from particular transactions

e.g. proceeds of the sale of an asset which are used to fund the account(s) or utilised for the financing of deals and re-payment of facilities

with Absa.

Source of Income: Salary/Wages Commission Bonus Maintenance/Alimony Pension

Investments Insurance claim Allowance Donation/Gift Inheritance

Social grant Retirement annuity If other, please specify

Source of Wealth: Include details of the activity, geographical location and timing by which the wealth was acquired, together with who it was

originally acquired by and how it was passed on to the client, if applicable.

Details

1

2

3

4

Gross monthly income: 0 – 4999 5000 – 9999 10000 – 24999 25000+

Number of dependants: 0 1 2 3


Income Tax number

VAT registration number

Have you ever been declared insolvent? Yes No



Fund Managers Limited Consent

1 Consent required

1.1 How we treat your personal information

Absa Fund Managers Limited is a member of Barclays Africa Group Limited (BAGL). We collect and process personal information from

you and this information is treated with strict confidentiality. We are responsible for ensuring that your personal information is processed

lawfully and in a reasonable manner that does not infringe your privacy.

1.2 Disclosure of your personal information

We may use and keep your information for as long as necessary or allowed, including when you are no longer a client, for any of the

following purposes.

• Legal and regulatory

• Crime prevention

• Marketing (with your consent)

• Research

• Internal reporting and approval processes and policy requirements

• For Absa to manage its risks you accept that we may receive and provide your personal information, including information about

how you conduct your accounts to:

• Credit risk management agencies (including credit bureau).

• Crime prevention agencies.

1.3 Absa must check your information

Absa must comply with national and international laws, regulations, policies, rules and requirements to prevent criminal activities, money

laundering and terrorist financing, sanctions and prohibited business activity laws and rules violations. Absa must therefore check all

information from and about you and monitor and screen your information, instructions and transactions on an ongoing basis. This may

cause some delays in transactions that you make or accounts you apply for. Absa may also have to end its relationship with you

without warning.

Absa is not responsible for any losses or damages that you suffer because of these checks or by Absa ending the relationship. This

includes any loss of profits or savings that you could have expected to make.

1.4 Consent to sharing your personal information within BAGL

Absa Fund Managers Limited wishes to request your consent to share your personal information with other entities within BAGL. Your

personal information will not be disclosed to anyone else without your consent unless BAGL is legally required or permitted to disclose it.

Absa Fund Managers Limited can share my personal information with other entities within BAGL

or

Absa Fund Managers Limited cannot share my personal information.

1.5 Marketing consent

In order to enable BAGL to offer you a full range of services and products best suited to your needs, Absa Fund Managers Limited

requests your consent to utilise your personal information for the purposes of offering to you the said services and products.

BAGL can contact me in the following ways:

SMS/MMS Email Post Telephone

or

BAGL cannot contact me.

1.6 Sanctions clause

I/We confirm that none of the counter parties/parties/related parties to this transaction, the country of origin, the country of destination

pertaining to goods/services can be linked to any of the countries mentioned below. If “Yes”, I/we hereby confirm that the bank will

prohibit the transaction, instruction or accounts I/we may be applying for. I/We confirm further that the bank may also have to end its

relationship with me/us without warning.

Please tick () the applicable box:

Iran North Korea Syria North Sudan South Sudan Cuba Crimea Region

Yes No Yes No Yes No Yes No Yes No Yes No Yes No



*Product Application: Fundisa

1 Investment Plan [Please indicate the % fees AFM should pay to the adviser.]

% Fees excluding VAT

Absa Fund Manager’s Fees Adviser’s Fees

Lump Sum

Investment

Monthly

Debit Order

Initial Service Fee Annual

Management Fee

Initial Adviser Fee Annual Adviser Fee

(Max 1%) Fee Maximum

Absa Fundisa Fund 0% 0.5% R R

2 Beneficiary details

The minimum investment amount for a beneficiary is R40

Surname

First name(s)

ID type RSA Refugee Passport Other (please specify)

ID number Copy of ID/birth certificate required

Surname

Full name(s)

Relationship to client

ID type: ID book Passport ID/Passport number

Date of birth D D M M C C Y Y Language Preference: English Afrikaans

Passport details:

Nationality Country passport issued

Country of birth City of residence

Date issued D D M M C C Y Y Gender: Male Female

Temporary resident details:

Temporary resident number

Permit expiry date D D M M C C Y Y

Marital status: Married Single Divorced Separated Widow/Widower Other, please specify

If married, state whether: Antenuptial Contract (with accrual) Antenuptial Contract (without accrual) Community of

Property

Other, please specify

3 Address details

Physical/Residential address


Country

Postal address Same as physical address


Country

Residential status: Living with parents Other, please specify

Present residential address since D D M M C C Y Y

Beneficiary’s combined household income R

4 Dividend withholding Tax [Please indicate with a tick () the applicable option below]

Your investment may be subject to dividend withholding tax in terms of the Income Tax Act No 58 of 1962 (“the Act”), at the prescribed rate

of 15% or such rate as amended from time to time. Absa Fund Managers Limited is required by law to withhold dividends tax from your

dividend returns and pay it over to South African Revenue Services, unless you are exempt from the payment of dividends tax and have

indicated as such on this form.

The investor is exempt from dividend tax because it is:

A company that is resident in South Africa.

The government, provincial administration or municipality.

Public benefit organisations approved by the Commissioner.

A trust contemplated in Section 37A of the Act (i.e. a rehabilitation trust).

An institution, board or body contemplated in section 10(1) (CA) (i.e. water board, tribal authority).

A person contemplated in section 10(1)(t) (i.e. CSIR, SANRAL, etc.).

A fund contemplated in section [10(1)(d)(i) or (ii) (i.e. pension/provident/RA/benefit fund)].

A shareholder in a registered micro business, as defined in the Sixth Schedule to the Act, to the extent that the aggregate amount of

dividends paid by that registered micro business to its shareholders during the year of assessment in which that dividend is paid does

not exceed the amount of R200 000.

An investor that is not resident in South Africa receiving a dividend paid by a foreign resident company listed on the JSE.

Other, please specify below:

*If a reduced rate applies, please provide explanation below, why the Investor beneficial owner meets the requirements of the DTA.

Reduced rate (indicate the % to be withheld)

Country in which resident for tax purposes

5 Financial Services Adviser appointment

I hereby confirm that the below detailed Financial Adviser is my appointed Financial Adviser and authorise the payment to my Financial

Adviser by Absa Fund Managers Limited of the initial fee and/or annual adviser fee in respect of selected funds as detailed in the Investment

Plan section of this application form.

Name of Financial Services Provider Name of Adviser

Office telephone FSP Licence number

Adviser cell Fax

Email PRI number

Financial Services Adviser declaration

I hereby declare that:

1 I am a licensed Financial Services Provider and have made the disclosures to the Investor as required by the Financial Advisory and

Intermediary Services Act 37 of 2002.

2 I confirm that I have, on behalf of the primary accountable institution, established internal rules and procedures for the identification,

verification and record keeping obligations as required by section 21 and 22 of the Financial Intelligence Centre Act, 30 of 2001.

3 I am not aware of any activities in which the Investor is involved which may lead me to suspect or reasonably suspect that the Investor is or

may be involved in any unlawful activities or in money laundering. Should I subsequently become aware of suspicions of this nature, I shall

immediately inform Absa Fund Managers Limited.

4 I subscribe and adhere to the fit and proper requirements and other statutory obligations and criteria imposed by applicable legislation

covering advice dispensed and/or intermediary services rendered to the Investor.

5 To the best of my knowledge, the Investor is not a US Person.

6 I have explained all fees that relate to this investment to the Investor.

7 I, the undersigned, hereby declare that all the relevant requirements in terms of the Agreement for the Avoidance of Double Taxation and

Prevention of Fiscal Evasion (DTA) in force on the relevant date between the Republic of South Africa and the country of residence of the

beneficial owner specified below, as well as sections 64FA, 64G or 64H of the Act (whichever is applicable), have been met.

Date D D M M C C Y Y

Financial Adviser signature

6 Income instruction

Please tick () the appropriate box. Income distributions of less than R50 will automatically be reinvested.

If to be invested in units or If income not reinvested, please pay to:

Name of accountholder

Name of bank Branch code

Account number

Account type: Current Savings Transmission

7 Automatic annual increase

In respect of regular debit order investments only

Please increase my regular investment by: 10% 15% 20%

8 Debit order

I, the undersigned, request and authorise Absa Fund Managers Limited to arrange with my bank for the amount mentioned below, including

any charges which could be made during the term of investment, to be drawn from my account in accordance with the debit order system.



Account number


The amount of R must be deducted on the day of the month from

Please Note

• Please attach proof of bank details (e.g. copy of bank statement or cancelled cheque) if this account differs from the Investors main account.

• The cut-off date for new debit orders is the 20th of each month. Instructions received after this date will be loaded by the 20th of the following

month, for deduction on the date stipulated by the client.

Date D D M M C C Y Y

Signature

9 Details for deposits into investments

Direct clients

On successful opening of a Unit Trust or Money Market Account, the Investor will receive confirmation of the account number and deposit

reference to be used.

Proof of payment must be sent to [email protected] or 011 480 5440.

Other clients

Please speak to a branch consultant/enquiries in order to have your application processed and to receive banking details and your unique

reference in order to make your deposit.

10 Redemption bank account details (completion of this section is mandatory)

I select the following bank account as the account to which all redemptions are to be paid.



Account number


11 Complaints

Absa Fund Managers Limited values your support as an Investor, we place a strong emphasis on maintaining a long-term relationship with

you that is open, trustworthy and transparent. In view of this, we encourage you to address your complaints, queries and concerns to us

on 0800 414 141.

12 Investor declaration

I warrant and represent that:

1 All information provided herein is complete, up to date and correct.

2 I have noted and understood all of the information provided.

3 I have read and understood the contents of this application form and agree to be bound by the terms and conditions contained herein.

4 I have full power, authority and capacity to enter into and sign this application form, with the necessary assistance where such assistance is a

legal requirement.

5 I have read and understood Absa Bank Limited’s terms of use for electronic transacting.

6 I am aware of and agree to payment of all costs relating to investing in unit trust portfolios.

7 Absa Fund Managers Limited did not, nor shall in the future, provide me with any advice in respect of this or any application to invest in Unit

Trust portfolios.

8 I am aware of, understand and accept the risks associated with investing in unit trust portfolios in which I may choose to invest.

9 I undertake to forthwith inform Absa Fund Managers Limited writing should my tax circumstance change.

Before signing, ensure that all entries have been completed or deleted as applicable.

Signed at Date D D M M C C Y Y

Signature of Investor [or duly authorised person(s) where applicable] Signature of Legal Guardian (If applicable)



Terms and conditions

Legal terms

1 Definitions

1.1 Absa means Absa Bank Limited;

1.2 Act means the Collective Investment Schemes Control Act No 45 of 2002;

1.3 BAGL means Barclays Africa Group Limited and all its subsidiaries including Absa and us;

1.4 Business Day means any day of the week other than a Saturday, Sunday or a public holiday;

1.5 Cap/Capping means our decision to suspend the acceptance of further investments into a Portfolio;

1.6 Deed means the Scheme’s main deed;

1.7 Feeder Fund means the Absa Global Core Equity Feeder Fund;

1.8 Form means the application form completed and signed by you including these Terms;

1.9 Fundisa Fund means the Fundisa Fund offered by us to you as and more detailed in its minimum disclosure document;

1.10 Income means distributions, returns, yield, dividend or any other like earnings;

1.11 Money Market means the Absa Money Market Fund, being the Portfolio for our money market investments;

1.12 NAV means Net Asset Value. Prices are calculated on a NAV basis, which is dependent on the total value of all

assets in a Portfolio including any income accruals and less any permissible deductions from the Portfolio

divided by the number of Units in issue. Permissible deductions include brokerage, securities transfer tax,

auditor's fees, bank charges, trustee/custodian fees and the service charge levied by us;

1.13 Non-Business days means the days that will be communicated to us as such by the manager of the Feeder Fund and which

or Non-Dealing days we will communicate to you as and when communicated to us by the manager of the Feeder Fund;

1.14 Portfolio(s) means the collective investment scheme portfolios administered and managed by us;

1.15 Repurchase means to sell a Unit(s);

1.16 Ring-fence(ing) means the suspension of Repurchases by us on any Business Day in terms of the Act;

1.17 Scheme means the Absa Unit Trust Scheme administered and managed by us;

1.18 Shell Bank means a credit institution or financial institution, or an institution that carries out activities equivalent to

those carried out by credit institutions and financial institutions, incorporated in a jurisdiction in which it

has no physical presence, involving meaningful mind and management and which is unaffiliated with a

regulated financial group;

1.19 TER means Total Expense Ratio;

1.20 Terms means these legal terms;

1.21 Unit(s) means any interest, undivided share, interest share or participatory interest, whether the value of which

constant or varies from time to time, which may be acquired by you in a Portfolio;

1.22 Unit Price means the price paid for a Unit in a Portfolio calculated by dividing the NAV by the number of Units

in issue;

1.23 Unit Trust(s) means a collective investment scheme;

1.24 Us/We/Our means Absa Fund Managers Limited;

1.25 US Person means:

• any citizen of the United States of America (“US”) or natural person resident in the US;

• any partnership or corporation organised or incorporated under the laws of the US;

• any estate of which any executor or administrator is a US Person;

• any agency or branch of a foreign entity located in the US;

• any trust of which any trustee is a US Person;

• any non-discretionary account or similar account (other than an estate or trust) held by a dealer or

other fiduciary organised, incorporate or resident in the US;

• any partnership or corporation if:

i) organised or incorporated under the laws of any foreign jurisdiction; and

ii) formed by a US Person principally for the purpose of investing securities not registered under

the Securities Act of 1933 of the US.

1.26 You means you, the investor.

2 One agreement

2.1 The Form together with the required supporting documents will form the basis of the contract between you and us. Words defined in

these Terms have the same meaning when used in the Form and our other forms.

2.2 You apply to invest in the Portfolios in accordance with the provisions of the Deed and any supplemental deeds executed thereafter as at

the Unit Price as per clause 3.4 below.

2.3 We reserve the right to change these Terms when required by legislation, our operations or business needs.

2.4 Where the changes are relevant, we will advise you of the changes and how they affect you. You agree to check our Terms, on the

applicable channels, from time to time.

2.5 You agree to be bound by the latest version of our Terms as amended.

2.6 In the event of any changes to your personal details, you agree to inform us as is required by the Financial Intelligence Centre Act (FICA).

2.7 We will not process your application unless we have received all of the relevant documentation required, as set out in FICA and our new

business requirements process. We reserve the right to request further documentation as we may require.

2.8 The address you have provided on the Form shall be used for all notices and processes to be given to you.

2.9 We may, on notice to you, cede, assign, transfer and delegate any of our rights and obligations under these Terms to another entity or

person without requiring your consent.

3 Your Instructions

3.1 We will only accept written instructions from you or your appointed financial adviser. The written instructions may be sent to us by hand,

via the postal service, facsimile, email internet site or any other electronic medium.

3.2 You authorise us to act upon your instructions completed on the relevant form received by facsimile, email, internet site or any other

electronic medium. You confirm that any electronic record of instructions and applications received and processed by us as aforesaid will

constitute proof of the contents of such instructions and applications. You also agree that this authorisation shall remain in force until

notice in writing of its termination is received by us and any such notice shall not affect the completion of transactions already initiated

under this authorisation.

3.3 We will not process any unclear, incomplete or ambiguous instructions sent to us by you or your financial adviser. It is your responsibility

to ensure that we have received any instructions you have sent to us by facsimile, email or any other electronic form. After forwarding an

instruction to our client service centre number, as stipulated in the Form, you must confirm that we are in receipt of such instruction.

3.4 We shall not be held liable for any and all claims, losses and/or damages whether indirect, special or consequential and/or any expense

of any nature whatsoever which you may incur or suffer as a result of any instructions not being process timeously by us due to

instructions being unclear, incomplete or ambiguous.

3.5 All instructions for transactions received at or before 15:30 will be traded at that Business Day‘s ruling price. Instructions received after

15:30 will be traded at the next Business Day’s ruling price.

3.6 You hereby indemnify and hold us harmless for any direct losses or damages you may suffer as a result of sending instructions or

documents by facsimile or email or us acting on any purported faxed or electronically mailed instructions or documents sent from your

facsimile number or electronic mail address. Any instructions or documents sent via facsimile, email, internet site or any other electronic

medium, are at your own risk, including the risk of delay, non-receipt or third party interception.

3.7 We will use our reasonable endeavours to ensure that we carry out your instructions within a period reasonable to the nature of the

instruction and in accordance with our own timing standards set out in the Form. However, there may be circumstances beyond our

control which might lead to us not being able to adhere to our timing standards.

4 Portfolio Selection and Income Distribution

4.1 The choice of Portfolio is always yours. In selecting the Portfolio, you acknowledge that you did not rely on any information supplied by

us and that you made your selection on your own accord.

4.2 We do not guarantee the performance of the Portfolio and shall not in any way be liable for the performance or non-performance of the

Portfolio you have selected.

4.3 Except where otherwise stated, Income distributions are made at regular intervals for all Portfolios. Distributions are declared as specified

in the Deed and applicable supplementary deeds. You can refer to the latest minimum disclosure document for more details.

5 Fundisa Fund Requirements

5.1 You may change the Beneficiary, a maximum of once per calendar year.

5.2 To qualify for the annual grant, a Beneficiary will have to undergo a means test.

5.3 A Beneficiary must be a South African national or a permanent resident and need not be related to you.

5.4 A Beneficiary’s household income may not exceed R180 000 per year and this must be declared by you.

5.5 The income status of the Beneficiary’s household is determined at the time of opening the Fundisa Fund.

5.6 Although not necessarily requested at the time of opening the account, further documentation may be requested at the time of applying

for the grant portion of the Fundisa Fund.

5.7 The grant portion is only paid to registered tertiary institutions for a Beneficiary below the age of 35.

5.8 The maximum annual grant portion allowed is R600 per Beneficiary.

5.9 The minimum investment required for a Beneficiary to qualify for the grant portion of the Fundisa Fund is R2 400 per annum.

6 NAV and TER of Portfolio

6.1 You apply to invest in the Portfolios at the Unit Price determined at the close of the Business Day we receive your Form and the money to

be invested. This is on condition that we receive these before 15:30.

6.2 If the Form or money is received after 15:30, the following Business Day’s Unit Price will be used to calculate the purchase value of a Unit.

6.3 The TER of a Portfolio is a measure of the Portfolio's assets that were relinquished as operating costs expressed as a percentage of the

daily average value of the Portfolio calculated over a period of usually a financial year. Typical expenses which are deducted from a

Portfolio include annual service charges, taxes, trustee fees and audit fees. The latest TERs are displayed on the minimum disclosure

documents of the relevant Portfolios.

6.4 A higher TER does not necessarily indicate a poor return. A low TER does not indicate a higher return.

6.5 The current TER cannot be regarded as an indication of a future TER. The TER of Portfolios not older than 6 (six) months cannot be

accurately determined.

7 Repurchase of Units

7.1 We undertake to Repurchase Units at the price calculated according to the Act and the relevant Deed.

7.2 We are entitled to invoke Ring-fencing on Repurchases or switch instructions, the aggregate amount of which is more than 5% of the

NAV of the Portfolio.

7.3 Repurchase payments will only be made to your elected bank account. We will not make payments into a bank account registered in the

name of another person.

7.4 Where the Units being Repurchased have been ceded, the written consent of the cessionary, or alternatively, proof that the cession has

been cancelled must be provided before the Repurchase can be processed.

7.5 If we receive conflicting Repurchase instructions, we reserve the right not to act on such instructions received and we shall not be held

liable for any and all claims, losses and/or damages whether indirect, special or consequential and/or any expense of any nature

whatsoever which you may incur or suffer as a result of the instruction not being processed timeously by us due to the aforesaid.

8 Fees and charges

8.1 In respect of fees payable, the following will apply:

we will deduct the initial or annual adviser fees or both, by selling Units from your Portfolio and then pay the fees to your appointed

financial adviser. You agree to inform us if you cancel or change your agreement to pay fees to your appointed financial

adviser; and

• we will charge an annual management fee and where applicable, initial fees as reflected on the Form.

8.2 In respect of charges payable, the following will apply:

• service charges for each Portfolio are accrued daily and levied monthly on the market value of the Portfolio;

• transactional charges will apply for cheque and cash withdrawals from Absa automatic teller machines and Absa branches where

account balances are below R100 000 (one hundred thousand Rand) on the Money Market. These transactional charges are

applied by Absa and will accrue directly to Absa and not us;

• brokerage and securities transfer tax, auditor’s fees, bank charges, trustee fees are levied against the Portfolios; and

• depending on your classification, investments in certain Unit Trusts will be placed in either the Class A or such other class as may

be available in accordance with our policy. These different fund classes levy different fees and charges.

9 Capping and closing of portfolios

9.1 Capping

• Should we decide to Cap any Portfolio, we will inform you of the Cap and also request your instructions about which Portfolio we

should invest your further monthly contributions.

• If we do not receive instructions from you about where to invest your contributions, we will invest the contributions in the Money

Market until the Cap is lifted or we receive your instructions.

• After the lifting of the Cap, we will reinvest your contributions from the Money Market into the relevant Portfolio.

9.2 Closing

We have the right to close down a Portfolio in which event we will send you a prior notification of the closure.

10 Disclosures

10.1 You acknowledge that you are aware of the following:

• there are risks associated with investments in Unit Trusts;

• investments in Unit Trusts are generally medium- to long-term investments;

• the value of Units may go down as well as up. Past performance is not necessarily a guide to future performance;

• fluctuations or movements in exchange rates may cause the value of underlying international investments in Portfolios to move up

or down;

• Unit Trusts are traded at ruling prices;

• we may borrow up to 10% of the market value of a Portfolio to accommodate insufficient liquidity;

• securities in a Portfolio may be lent to borrowers subject to such conditions as are imposed by the Deed;

• Income from the Portfolios is distributed monthly, quarterly and half-yearly and may only be paid out into an account as nominated

by you;

• Unit Trusts are financial products and not investments in insurance policies with an insurer and therefore cooling-off periods do

not apply;

• we do not provide any guarantee either with respect to the capital or the return of a Portfolio;

• in respect of Portfolios that derive their income primarily from interest-bearing instruments, the yield is current;

• our directors and personnel may be invested in any of the Portfolios;

• we hold professional indemnity cover;

• we are a full member of the Association for Savings and Investment SA; and

• investments in Portfolios with foreign securities may involve various material risks which include, potential constraints on liquidity

and the repatriation of funds, macro-economic, political, foreign exchange, tax and settlement risks and potential limitations on the

availability of market information; and

10.2 In respect of investments into the Money Market, you acknowledge that you are aware that:

• the Money Market is not a bank deposit account;

• a constant Unit Price of R1 (one Rand) will be maintained although, owing to circumstances, it may be changed to a lower amount;

• your total return is made of interest received and any gain or loss made on any particular instrument;

• in most cases the return will merely have the effect of increasing or decreasing the daily yield but in cases of abnormal losses it can

have the effect of reducing the capital value;

• the yield is calculated using an annualised 7 (seven) day rolling average; and

• excessive withdrawals may place liquidity pressures and in such circumstances a process of Ring-fencing of withdrawal

instructions and managed pay-outs over time may be followed.

10.3 If you are invested in the Feeder Fund, you acknowledge that you are aware that:

• the Feeder Fund is a feeder fund;

• a feeder fund is a portfolio that invests in a single portfolio of a collective investment scheme, which levies its own charges and

which could result in a higher fee structure for the feeder fund;

• there may be Non-business and Non-dealing days which may be applicable to the Feeder Fund;

• Income is declared annually in December and distributed in January of the following year;

• the Feeder Fund does not invest in bearer shares unless such bearer shares are deposited with a regulated financial institution

which is subject to anti-money laundering and counter-terrorist financing requirements equivalent to those of the Financial Action

Task Force and whose compliance with such requirements is supervised by the relevant regulator; and

• the Feeder Fund does not offer shares or accept orders to acquire shares, directly or indirectly, from Shell Banks.

11 Our limited liability

11.1 We will not be liable for any damages or losses of any nature arising out of our failure to attend to instructions due to occurrences

beyond our control.

11.2 We will not be liable for any loss incurred due to incorrect information being supplied by you.

11.3 You agree that we will not be liable for the results of market influences and consequent changes in Unit Prices and you thus bear the

total risk associated with the investment.

11.4 You exempt us from any liability for any loss or damage you may suffer due to your investment in a Portfolio, including any loss as a

result of the reduction in value of a Portfolio which you may suffer except where such damage arises directly our negligence, unlawful

conduct or fraud.

11.5 We do not and have not furnished you with any financial advice and you agree that you have consulted your financial adviser before

making your investment.

11.6 Despite our rights under any law, you agree that we shall be entitled to recover from you any amount of money paid to you in error or

which you are not in any way entitled to, including interest on it calculated Absa’s lending rate.

12 Taxes and payment

12.1 Unless you are exempt and have provided us with a signed declaration form to this effect, your investment may be subject to dividend

and interest taxes, at the prescribed rate of 15% respectively. We are required by law to withhold dividend and interest taxes and pay it

over to the South African Revenue Services (SARS).

12.2 Any capital gain realised on the disposal of a Unit is subject to capital gains tax (CGT). We are obliged to report to SARS on the weighted

average cost method for CGT purposes.

12.3 You further understand that the legal and tax environment is continually changing and that we cannot be held responsible for any

changes to legislation which might have an effect on your investment and which did not exist at the time your investment was made.

13 Closure of your account

13.1 If you Repurchase all your Units or the cash balance remaining in your account is R30 or less, the remaining cash balance will be moved

into a suspense account.

13.2 If after the cash balance falling to R30 or less, you do not make a deposit of the minimum investment amount for 30 (thirty) days after

the Repurchase or your account falling to R30 or less, we may close your account. Any Income that will become due to you will be paid

to you.

13.3 Your account will be closed within 48 hours of completion of a full Repurchase.

13.4 Payments to you will be made upon successful identification and verification in terms of the FICA.

14 Absa processing system

We have appointed Absa to process applications and your information through its branch network on our behalf and they will process all your

information on their client information system. We use Absa’s electronic and telephone banking systems.

15 Compliance with Applicable Law

15.1 As part of BAGL, we are committed to complying with national and international law, rules and regulations and policies regarding the

combating of criminal activities, money laundering and terrorist financing.

15.2 Your application and all information concerning you are subject to verification, processing, screening and profiling. We may be obliged to

decline your applications or may request additional documents such as financial statements and asset and liability statements if you fall

in a certain risk category.

15.3 After acceptance of your application, all information, instructions and transactions on your behalf will be subject to continuous screening

and profiling which may prohibit, limit or delay the execution thereof and which may oblige us to terminate our relationship with you.

15.4 To the extent allowed by law, we will inform you of any prohibitions or limitations on your application, instructions or transactions.

15.5 We, our respective affiliates, employees, officers and directors will not be liable for any special, punitive, indirect or consequential losses

or damages, including, without limitation, loss of profits or any anticipated savings.

15.6 The complaints policy is available from us on request.

16 US Person

16.1 You confirm that you are not a US Person and agree and promise to inform us as soon as you become a US Person during your

relationship with us.

16.2 If you become a US Person during your relationship with us, we have the right to end the relationship with immediate effect.

16.3 If you are a US Person, we have the right to decline your application.

Documents

Wealth and Investment Management