FUNDS
Minimum Disclosure Documents
The Accorn BCI Balanced Fund is a managed portfolio aiming to achieve long-term capital growth and moderate-income generation by investing across a variety of asset classes and instruments. The portfolio will be managed in compliance with prudential investment guidelines for retirement funds in South Africa to the extent allowed by the Act.
The Accorn BCI Equity Fund is a general equity portfolio that seeks to sustain high long-term capital growth. The portfolio’s equity exposure will always exceed 80% of the portfolio’s net asset value and investible universe may consist of local and international equity securities, property shares and participatory interest in portfolios of collective investment schemes.
The Accorn BCI International Fund of Funds aims to provide investors with a moderate long-term total return by providing an exposure to a diverse mix of underlying portfolios, comprising global asset classes and exposure to various currencies.
WRAP FUNDS
MANAGING CLIENTS' UNIT TRUST INVESTMENTS AT THE CLICK OF A BUTTON
WHAT IS A WRAP FUND?
A wrap fund is a collection of underlying investments, such as unit trusts, which are administerd as a single offering to our clients.
WHAT ARE THE BENEFITS OF A WRAP FUND FOR OUR CLIENTS?
ADMINISTRATIVE SIMPLICITY
Whenever Accorn makes allocation changes to the Wrap Fund models, the client’s investment will be automatically changed without action or instruction from the client, ensuring that all clients invested into Wrap Funds are aligned to the most recent house view of Accorn Investment Management, while ensuring that the client’s investments remain within their predetermined risk profile and objectives.
OWNERSHIP
The investor remains the unit holder of each underlying unit trust included in the Wrap Fund model.
COST EFFICIENCY
No switching fees will apply when Accorn makes allocation changes to the Wrap Fund model.
Accorn Wrap Funds
The Cautious Wrap Fund
- Caters for voluntary and post-retirement monies.
- It has no restrictions in relation to its investment profile however is tilted towards income producing funds. This model aims to produce an annualised return of at least inflation plus 2% over time.
- In addition, it is specifically managed to suit investors who want to draw an income over an extended period of time.
- This model has a medium risk profile and invests in assets across the risk spectrum which includes but is not limited to Equities, Bonds, Fixed Income and Money Market instruments, Listed Property and International listed entities.
The Diverse Income Wrap Fund
- Caters for voluntary and post-retirement monies.
- It has no restrictions in relation to its investment profile however is tilted towards income producing funds. This model aims to produce an annualised return of at least inflation plus 2% over time.
- In addition, it is specifically managed to suit investors who want to draw an income over an extended period of time.
- This model has a medium risk profile and invests in assets across the risk spectrum which includes but is not limited to Equities, Bonds, Fixed Income and Money Market instruments, Listed Property and International listed entities.
The Balanced Wrap Fund
- Caters for pre-retirement money and applies the terms of Regulation 28, of Section 36 of the Pension Funds Act of 1956.
- The model is therefore restricted in relation to its investment profile.
- This model aims to provide investors with moderate long-term capital growth in line with its benchmark target of at least inflation plus 4% over time.
- The model has a medium risk profile and invests in assets across the risk spectrum which includes but is not limited to Equities, Bonds, Fixed Income and Money Market instruments, Listed Property and International listed entities.
The Managed Wrap Fund
- Caters for voluntary and post-retirement monies.
- It has no restrictions in relation to its investment profile however is a blend of capital growth and income producing funds.
- This model aims to produce an annualised return of at least inflation plus 4% over time and is specifically managed to suit investors who want to draw an income over an extended period of time.
- This model has a medium risk profile and invests in assets across the risk spectrum which includes but is not limited to Equities, Bonds, Fixed Income and Money Market instruments, Listed Property and International listed entities.
The Flexible Wrap Fund
- Caters for voluntary and post-retirement monies.
- It has no restrictions in relation to its investment profile however is tilted towards capital growth funds.
- This model aims to provide investors with long-term capital growth in line with its benchmark target of at least inflation plus 4% over time.
- This model has a medium risk profile and invests in assets across the risk spectrum which includes but is not limited to Equities, Bonds, Fixed Income and Money Market instruments, Listed Property and International listed entities.
WHAT ARE THE LEGAL AND PRACTICAL ASPECTS OF A WRAP FUND?
Wrap Funds are not unit trust funds and are not unitised. They are simply collections of unit trust funds managed as a collective.
Where any changes are made to the underlying funds included in our discretionary Wrap Funds, this may result in a Capital Gains Tax (CGT) liability for the investor, Accorn always seeks to minimise the impact.
Changes to the models are limited to the least number deemed necessary to achieve the long-term objective of the client. There is no CGT liability on retirement funds held in Wrap Funds.
The investor can, therefore, see from their investment statement which underlying unit trusts their investments are exposed to.
Accorn offers a range of model Personal Share Portfolios (PSP) that enables our clients to invest into a basket of directly owned securities and funds.
ACCORN PSP's
The following PSP's are available via Accorn.
The Balanced PSP Model
- Caters for pre-retirement money and applies the terms of Regulation 28, of Section 36 of the Pension Funds Act of 1956.
- The model is therefore restricted in relation to its investment profile.
- This model aims to provide investors with moderate long-term capital growth in line with its benchmark target of at least inflation plus 4% over time.
- The model has a medium risk profile and invests in assets across the risk spectrum which includes but is not limited to local Equities, Fixed Income, Listed Property, and International listed entities.
The Managed PSP Model
- Caters for post-retirement monies.
- It has no restrictions in relation to its investment profile however is a blend of capital growth and income producing funds.
- This model aims to produce an annualised return of at least inflation plus 4% over time and is specifically managed to suit investors who want to draw an income over an extended period.
- This model has a medium risk profile and invests in assets across the risk spectrum which includes but is not limited to local Equities, Fixed Income, Listed Property, and International listed entities.
The Flexible PSP Model
- Caters for voluntary monies.
- It has no restrictions in relation to its investment profile however is tilted towards capital growth funds.
- This model aims to provide investors with long-term capital growth in line with its benchmark target of at least inflation plus 4% over time.
- This model has a medium risk profile and invests in assets across the risk spectrum which includes but is not limited to local Equities, Fixed Income, Listed Property, and International listed entities.
WHAT ARE THE LEGAL AND PRACTICAL ASPECTS OF A PSP?
Where any changes are made to the underlying shares or funds included in our discretionary model PSPs, this may result in a Capital Gains Tax (CGT) liability for the investor, Accorn seeks, where possible, to minimise the impact.
There is no CGT liability on retirement funds held in PSPs.
The investor can, therefore, see from their investment statement which underlying shares and funds their investments are exposed to.
OWNERSHIP
The investor remains the owner of the underlying investments included in the PSP.