General Terms and Legal Information

FAIS disclaimer: 27four Investment Managers (Pty) Ltd is an authorised Category I, II and IIA Financial services provider in terms of the Financial Advisory and Intermediary Services Act, 37 of 2002 (“the FAIS Act”) with FSP number 31045. The information contained herein, should not be construed as advice as defined in the FAIS Act, neither does it constitute a solicitation, invitation, or investment recommendation. Investors should take cognisance of the fact that there are risks involved when buying, selling, or investing in any financial product. Given that value of investments will fluctuate over time and that past returns may not be indicative of future returns, an investor should seek independent professional financial, legal and tax advice relevant to their individual circumstances before making any investment decision. The validity and accuracy of any illustrations, forecasts or hypothetical data are not guaranteed and are only provided for illustrative purposes. Investors should also take cognisance of the fact that Hedge Funds are collective investment schemes to which the prescribed provisions of the Collective Investment Schemes Control Act, 45 of 2002 apply.

Collective Investment Schemes Control Act 45 of 2002: 27four Collective Investments (RF) (Pty) Ltd is authorised in terms of the Collective Investment Schemes Control Act, No 45 of 2002 (Cisca) to administer collective investment schemes (CISs) in securities.

CISs are generally medium to long-term investments. The value may go up as well as down and past performance is not necessarily a guide to future performance. CIS’s are traded at the ruling price and can engage in scrip lending and borrowing. The collective investment scheme may borrow up to 10% of the market value of the portfolio to bridge insufficient liquidity. A schedule of fees, charges and maximum commissions is available on request from the Manager. There is no guarantee in respect of capital or returns in a portfolio. A CIS may be closed to new investors in order for it to be managed more efficiently in accordance with its mandate. CIS prices are calculated on a net asset basis, which is the total value of all the assets in the portfolio including any income accruals and less any permissible deductions (brokerage, STT, VAT, auditor’s fees, bank charges, trustee and custodian fees and the annual management fee) from the portfolio divided by the number of participatory interests (units) in issue. A Fund of Funds is a portfolio that invests in portfolios of collective investment schemes, which levy their own charges, which could result in a higher fee structure for these portfolios. 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

A Money Market portfolio is not a bank deposit account. The price of a participatory interest is targeted at a constant value. The total return to the investor is made up of interest received and any gain or loss made on any particular instrument and in most cases the return will merely have the effect of increasing or decreasing the daily yield, however, in the case of abnormal losses it can have the effect of reducing the capital value of the portfolio.