28 June 2012 - COLLECTIVE INVESTMENT FUND CHANGES ON THE ... The Old Mutual Four Plus Global Fund of Funds (B class) and
Punch Articles The articles below were published in Punch during June 2012. 28 June 2012 - COLLECTIVE INVESTMENT FUND CHANGES ON THE GLACIER PLATFORM We would like to inform you of the following collective investment fund changes. All the changes took effect during April 2012. No fund changes took place during May and June. Fund mergers: The Old Mutual Four Plus Global Fund of Funds (B class) and the Old Mutual Four Plus Growth Fund of Funds (B class) have merged into the Old Mutual Balanced A fund. The investment policy, fee structure and manager of the Old Mutual Balanced A Fund have remained unchanged. The Old Mutual Balanced Fund has the same fund manager as the Four Plus Growth Fund of Funds, but unlike the Four Plus funds, the Balanced fund has a performance fee, which becomes applicable when the fund outperforms CPI + 2%. The Momentum High Dividend Fund has merged with the Momentum Moderate Fund. Correspondingly, the Fusion Momentum High Dividend Fund has merged with the Fusion Momentum Moderate Fund. Subsequent to the merger, the Momentum Moderate Fund had a name change to the Momentum Capital Enhancer Fund. The benchmark of the fund has changed from 25% All Share Index and 75% STeFI to CPI plus 4% over a rolling two-year basis. The portfolio manager remains unchanged, and the fees remain the same, except for the introduction of performance fees. Performance fees will only become payable upon a 20% outperformance of the benchmark over a rolling two-year basis, and will be capped at a maximum of 1% per annum. Fund name changes: The Nedgroup Investments Balanced Fund's name has been changed to the Nedgroup Investments Opportunity Fund. The mandate of the fund has also changed to allow a greater focus on capital preservation and risk management, by limiting total equity exposure to 60% (previously 75%). The fund aims to achieve total returns that are in excess of inflation. The name has been changed to better reflect the revised investment policy. The fees have remained unchanged. The Dynamic Wealth Fund range has had a name change to MET. The affected funds are as follows:
The Dynamic Wealth Property Fund, which has changed to the MET Property Fund; The Dynamic Wealth Optimal Fund, which has changed to the MET Optimal Fund; The Dynamic Wealth Value Fund, which has changed to the MET Equity Value Fund; The Dynamic Wealth Real Income Fund, which has changed to the MET Real Income Fund; The Dynamic Wealth Preserver Fund of Funds, which has changed to the MET Wealth Preserver Fund of Funds; The Dynamic Wealth Accumulator Fund of Funds, which has changed to the MET Wealth Accumulator Fund of Funds; The Dynamic Wealth Creator Fund of Funds, which has changed to the MET Wealth Creator Fund of Funds. Apart from the name changes, nothing else has changed (including the fees and portfolio manager). The name of the STANLIB Managed Flexible Fund has changed to the STANLIB Inflation Plus 5% Fund. The fund manager, fees and investment objectives remain unchanged. For any queries in this regard, or if you require additional information, please contact our Communication Centre on (021) 917 9002 / 0860 GLA ENG. Glacier Financial Solutions (Pty) Ltd, A member of the Sanlam Group Reg No 1999/025360/07 Licensed Financial Services Provider Refer to the Glacier website for details of directors
