PSG Collective Investments (RF) Limited is running
a ballot to proposed to amend the investment policy of the
PSG Wealth Creator Fund of Funds. The amendment is to remove the restriction of maximum 95% exposure to equity markets from the investment policy and allow the portfolio to be 100% invested in equities.
Your action is required: Cast your vote by completing the ballot form
Please read the ballot letter, complete the ballot
form (Annexure B) to vote, and return it to our auditors by email to
firstname.lastname@example.org by 2 March 2021. Click here for the ballot letter.
Benefits to the change
The PSG Wealth Creator Fund of Funds has a mandate restriction limiting its maximum equity allocation to 95%. This differs from the mandates of most general equity funds, including the underlying funds currently used by the Fund of Funds, which do not have limits on their maximum equity exposure. We feel that the fund can further enhance performance by increasing the allowance to 100%.
By increasing the allowance to 100%, the Fund of Funds can take full advantage of favourable market movements, potentially enhancing performance and capital growth for investors over the longer term. Please refer to the Annexure A for a detailed comparison of the portfolio’s investment policy.
The amendment will have no impact on investors.
- Tax treatment of income after the amendment: The change does not impact the tax treatment of income or capital gains
- Risk profile: The risk profile of the portfolio will remain similar.
- Fee structure: Fees will remain unchanged.
- The value of your investment: The market (monetary) value of your units will be equal to the value of the units you held before the amendment.
Effective date of the proposed amendment will be 15 April 2021.
This is provided that we obtain the necessary consent from investors and the Financial Sector Conduct Authority.