Momentum Systematic Strategies Portfolio Range The Momentum Systematic Strategies Portfolio Range consists of a combination of different pure beta and smart beta index portfolios. The pure beta portfolios each track a specified index, while the smart beta portfolios try to capture a value or trending equity style in a completely systematic process. Pure beta portfolios Momentum SWIX All Share Index Portfolio Momentum Capped SWIX All Share Index Portfolio Momentum Top 40 Index Portfolio Momentum Mid & Small Cap Index Portfolio Momentum Property Index Portfolio Smart beta portfolios Momentum Trending Equity Index Portfolio Momentum Value Equity Index Portfolio investments
Transcript
Momentum Systematic StrategiesPortfolio RangeThe Momentum Systematic Strategies Portfolio Range consists of a combination of different pure beta and smart beta index portfolios.
The pure beta portfolios each track a specified index, while the smart beta portfolios try to capture a value or trending equity style in a completely systematic process.
Pure beta portfolios Momentum SWIX All Share Index Portfolio Momentum Capped SWIX All Share Index Portfolio Momentum Top 40 Index Portfolio Momentum Mid & Small Cap Index Portfolio Momentum Property Index Portfolio
Smart beta portfolios Momentum Trending Equity Index Portfolio Momentum Value Equity Index Portfolio
investments
Investment portfolio informationInception date: 1 September 2016Risk classification:
Risk classification description The portfolio may experience a high degree of volatility in the short term, due to
its exposure to the equity asset class This equity portfolio has a high probability of capital loss over the short term, as it
is fully invested at all times The portfolio objective is to track the benchmark as closely as possible
Momentum Portfolio RangeSystematic Strategies Momentum PortfolioSWIX All Share Index
Important informationMomentum Outcome-based Solutions (Pty) Ltd, registration number 2004/023064/07, is an authorised financial services provider, FSP licence number 19840. This information is not advice as defined and contemplated in the FAIS Act. The company is also registered as an administrator in terms of Section 13B of the Pension Funds Act, registration number 24/401. MMI Group Limited�s responsibility in connection with the information in this document is limited to its assumed liability in terms of the retirement fund policy. Published promotional material, the application form, its appendices and any other administration forms containing details of the portfolio(s) and underlying investments should all be read in conjunction with the policy as they form part of the policy contract between MMI Group Limited and the retirement fund. Full terms and conditions on the portfolio are set out in the MMI Group Limited policy. Transactions such as investments in, disinvestment from, switching from and the provision of policy benefits and payment of consideration are subject to the terms and conditions of the policy and in the event of any conflict between the terms and conditions of this document and the policy, the terms and conditions of the policy will prevail. The asset allocation of the portfolio is managed in accordance with the investment limitations set out in Regulation 28 of the Pension Funds Act, 24 of 1956, as amended, and the limits of the type of investments in which the portfolio may be invested may be amended from time to time. The policy fee includes investment-management fees earned by investment managers appointed by Momentum Outcome-based Solutions (Pty) Ltd to manage the investments in respect of the portfolio. The retirement fund agrees that Momentum Outcome-based Solutions (Pty) Ltd and the investment managers are paid out of the policy fee. However, in certain instances (such as the private equity, commodity and fund-of-hedge-fund components), a portfolio may include underlying Investments where fees are deducted from the investment return and not paid out of the policy fee. The policy fee excludes a performance-based fee, except where the retirement fund has specifically agreed that a performance-based fee be included in the policy fee. Such a performance-based fee will be paid by Momentum Outcome-based Solutions (Pty) Ltd on behalf of MMI Group Limited, in its sole discretion, to the underlying investment managers or to Momentum Outcome-based Solutions (Pty) Ltd itself if agreed to by the retirement fund. Momentum Outcome-based Solutions (Pty) Ltd will disclose the performance-based fee paid as well as the basis of its calculation to the retirement fund on request.
investments
Published: June 2017Outcome-based solutions for businesses
Momentum SWIX All Share Index Portfolio
Term
Risk
Very short
Very low
Very long
Very high
Medium
Medium
Investment strategyThis is a specialist capital growth portfolio that is aimed at achieving returns as close as possible to that of the FTSE/JSE Shareholder Weighted All-Share Index, by optimally tracking the index. The portfolio includes securities that closely and optimally track the securities comprising the benchmark in proportions to best replicate the returns of the index, investments in liquid form and listed equity financial instruments.
Investment portfolio mandateThe portfolio is aimed at achieving returns as close as possible to that of the FTSE/JSE Shareholder Weighted All-Share Index by tracking the index.
Benchmark The portfolio is benchmarked against the FTSE/JSE Shareholder Weighted All-Share Index.
Investment portfolio informationInception date: 1 September 2016Risk classification:
Investment strategyThis is a specialist capital growth portfolio that is aimed at achieving returns as close as possible to that of the FTSE/JSE Capped Shareholder Weighted All-Share Index, by optimally tracking the index. The portfolio includes securities that closely and optimally track the securities comprising the benchmark in proportions to best replicate the returns of the index, investments in liquid form and listed equity financial instruments.
Investment portfolio mandateThe portfolio is aimed at achieving returns as close as possible to that of the FTSE/JSE Capped Shareholder Weighted All-Share Index by tracking the index.
Benchmark The portfolio is benchmarked against the FTSE/JSE Capped Shareholder Weighted All-Share Index.
Risk classification description The portfolio may experience a high degree of volatility in the short term, due to
its exposure to the equity asset class. This equity portfolio has a high probability of capital loss over the short term, as it
is fully invested at all times. The portfolio objective is to track the benchmark as closely as possible.
Momentum Portfolio RangeSystematic Strategies Momentum PortfolioCapped SWIX All Share Index
Important informationMomentum Outcome-based Solutions (Pty) Ltd, registration number 2004/023064/07, is an authorised financial services provider, FSP licence number 19840. This information is not advice as defined and contemplated in the FAIS Act. The company is also registered as an administrator in terms of Section 13B of the Pension Funds Act, registration number 24/401. MMI Group Limited�s responsibility in connection with the information in this document is limited to its assumed liability in terms of the retirement fund policy. Published promotional material, the application form, its appendices and any other administration forms containing details of the portfolio(s) and underlying investments should all be read in conjunction with the policy as they form part of the policy contract between MMI Group Limited and the retirement fund. Full terms and conditions on the portfolio are set out in the MMI Group Limited policy. Transactions such as investments in, disinvestment from, switching from and the provision of policy benefits and payment of consideration are subject to the terms and conditions of the policy and in the event of any conflict between the terms and conditions of this document and the policy, the terms and conditions of the policy will prevail. The asset allocation of the portfolio is managed in accordance with the investment limitations set out in Regulation 28 of the Pension Funds Act, 24 of 1956, as amended, and the limits of the type of investments in which the portfolio may be invested may be amended from time to time. The policy fee includes investment-management fees earned by investment managers appointed by Momentum Outcome-based Solutions (Pty) Ltd to manage the investments in respect of the portfolio. The retirement fund agrees that Momentum Outcome-based Solutions (Pty) Ltd and the investment managers are paid out of the policy fee. However, in certain instances (such as the private equity, commodity and fund-of-hedge-fund components), a portfolio may include underlying Investments where fees are deducted from the investment return and not paid out of the policy fee. The policy fee excludes a performance-based fee, except where the retirement fund has specifically agreed that a performance-based fee be included in the policy fee. Such a performance-based fee will be paid by Momentum Outcome-based Solutions (Pty) Ltd on behalf of MMI Group Limited, in its sole discretion, to the underlying investment managers or to Momentum Outcome-based Solutions (Pty) Ltd itself if agreed to by the retirement fund. Momentum Outcome-based Solutions (Pty) Ltd will disclose the performance-based fee paid as well as the basis of its calculation to the retirement fund on request.
investments
Published: June 2017Outcome-based solutions for businesses
Momentum Capped SWIX All Share Index Portfolio
Term
Risk
Very short
Very low
Very long
Very high
Medium
Medium
Investment portfolio informationInception date: 9 March 2004Risk classification:
Risk classification description The portfolio may experience a high degree of volatility in the short term, due to
its exposure to the equity asset class This equity portfolio has a high probability of capital loss over the short term, as it
is fully invested at all times The portfolio objective is to track the benchmark as closely as possible
Momentum Portfolio RangeSystematic Strategies Momentum PortfolioTop 40 Index
Important informationMomentum Outcome-based Solutions (Pty) Ltd, registration number 2004/023064/07, is an authorised financial services provider, FSP licence number 19840. This information is not advice as defined and contemplated in the FAIS Act. The company is also registered as an administrator in terms of Section 13B of the Pension Funds Act, registration number 24/401. MMI Group Limited�s responsibility in connection with the information in this document is limited to its assumed liability in terms of the retirement fund policy. Published promotional material, the application form, its appendices and any other administration forms containing details of the portfolio(s) and underlying investments should all be read in conjunction with the policy as they form part of the policy contract between MMI Group Limited and the retirement fund. Full terms and conditions on the portfolio are set out in the MMI Group Limited policy. Transactions such as investments in, disinvestment from, switching from and the provision of policy benefits and payment of consideration are subject to the terms and conditions of the policy and in the event of any conflict between the terms and conditions of this document and the policy, the terms and conditions of the policy will prevail. The asset allocation of the portfolio is managed in accordance with the investment limitations set out in Regulation 28 of the Pension Funds Act, 24 of 1956, as amended, and the limits of the type of investments in which the portfolio may be invested may be amended from time to time. The policy fee includes investment-management fees earned by investment managers appointed by Momentum Outcome-based Solutions (Pty) Ltd to manage the investments in respect of the portfolio. The retirement fund agrees that Momentum Outcome-based Solutions (Pty) Ltd and the investment managers are paid out of the policy fee. However, in certain instances (such as the private equity, commodity and fund-of-hedge-fund components), a portfolio may include underlying Investments where fees are deducted from the investment return and not paid out of the policy fee. The policy fee excludes a performance-based fee, except where the retirement fund has specifically agreed that a performance-based fee be included in the policy fee. Such a performance-based fee will be paid by Momentum Outcome-based Solutions (Pty) Ltd on behalf of MMI Group Limited, in its sole discretion, to the underlying investment managers or to Momentum Outcome-based Solutions (Pty) Ltd itself if agreed to by the retirement fund. Momentum Outcome-based Solutions (Pty) Ltd will disclose the performance-based fee paid as well as the basis of its calculation to the retirement fund on request.
investments
Published: June 2017Outcome-based solutions for businesses
Momentum Top 40 Index Portfolio
Term
Risk
Very short
Very low
Very long
Very high
Medium
Medium
Investment strategyThis is a specialist capital growth portfolio that is aimed at achieving returns as close as possible to that of the FTSE/JSE Top 40 Index, by optimally tracking the index. The portfolio includes securities that closely and optimally track the securities comprising the benchmark in proportions to best replicate the returns of the index, investments in liquid form and listed equity financial instruments.
Investment portfolio mandateThe portfolio is aimed at achieving returns as close as possible to that of the FTSE/JSE Top 40 Index by tracking the index.
Benchmark The portfolio is benchmarked against the FTSE/JSE Top 40 Index.
Investment portfolio informationInception date: Not launched yetRisk classification:
Risk classification description The portfolio may experience a high degree of volatility in the short term, due to
its exposure to the equity asset class This equity portfolio has a high probability of capital loss over the short term, as it
is fully invested at all times The portfolio objective is to track the benchmark as closely as possible
Momentum Portfolio RangeSystematic Strategies Momentum PortfolioMid & Small Cap Index
Important informationMomentum Outcome-based Solutions (Pty) Ltd, registration number 2004/023064/07, is an authorised financial services provider, FSP licence number 19840. This information is not advice as defined and contemplated in the FAIS Act. The company is also registered as an administrator in terms of Section 13B of the Pension Funds Act, registration number 24/401. MMI Group Limited�s responsibility in connection with the information in this document is limited to its assumed liability in terms of the retirement fund policy. Published promotional material, the application form, its appendices and any other administration forms containing details of the portfolio(s) and underlying investments should all be read in conjunction with the policy as they form part of the policy contract between MMI Group Limited and the retirement fund. Full terms and conditions on the portfolio are set out in the MMI Group Limited policy. Transactions such as investments in, disinvestment from, switching from and the provision of policy benefits and payment of consideration are subject to the terms and conditions of the policy and in the event of any conflict between the terms and conditions of this document and the policy, the terms and conditions of the policy will prevail. The asset allocation of the portfolio is managed in accordance with the investment limitations set out in Regulation 28 of the Pension Funds Act, 24 of 1956, as amended, and the limits of the type of investments in which the portfolio may be invested may be amended from time to time. The policy fee includes investment-management fees earned by investment managers appointed by Momentum Outcome-based Solutions (Pty) Ltd to manage the investments in respect of the portfolio. The retirement fund agrees that Momentum Outcome-based Solutions (Pty) Ltd and the investment managers are paid out of the policy fee. However, in certain instances (such as the private equity, commodity and fund-of-hedge-fund components), a portfolio may include underlying Investments where fees are deducted from the investment return and not paid out of the policy fee. The policy fee excludes a performance-based fee, except where the retirement fund has specifically agreed that a performance-based fee be included in the policy fee. Such a performance-based fee will be paid by Momentum Outcome-based Solutions (Pty) Ltd on behalf of MMI Group Limited, in its sole discretion, to the underlying investment managers or to Momentum Outcome-based Solutions (Pty) Ltd itself if agreed to by the retirement fund. Momentum Outcome-based Solutions (Pty) Ltd will disclose the performance-based fee paid as well as the basis of its calculation to the retirement fund on request.
investments
Published: June 2017Outcome-based solutions for businesses
Momentum Mid & Small Cap Index Portfolio
Term
Risk
Very short
Very low
Very long
Very high
Medium
Medium
Investment strategyThis is a specialist equity portfolio that is aimed at achieving returns as close as possible to that of a custom FTSE/JSE index consisting of mid- and small-capitalisation shares listed on the JSE, by tracking this index. The portfolio includes equity and property securities comprising a custom index calculated by the JSE consisting of mid- and small-capitalisation shares listed on the JSE in proportions to best replicate the returns of the index and investments in liquid form. The portfolio may also invest in participatory interest or any other forms of participation in portfolios of collective investments. The portfolio has no global exposure.
Investment portfolio mandateThe portfolio is aimed at achieving returns as close as possible to that of the Momentum Mid & Small Cap Index by tracking the index.
Benchmark The portfolio is benchmarked against the Momentum Mid & Small Cap Index.
Momentum Portfolio RangeSystematic Strategies Momentum PortfolioProperty Index
Important informationMomentum Outcome-based Solutions (Pty) Ltd, registration number 2004/023064/07, is an authorised financial services provider, FSP licence number 19840. This information is not advice as defined and contemplated in the FAIS Act. The company is also registered as an administrator in terms of Section 13B of the Pension Funds Act, registration number 24/401. MMI Group Limited�s responsibility in connection with the information in this document is limited to its assumed liability in terms of the retirement fund policy. Published promotional material, the application form, its appendices and any other administration forms containing details of the portfolio(s) and underlying investments should all be read in conjunction with the policy as they form part of the policy contract between MMI Group Limited and the retirement fund. Full terms and conditions on the portfolio are set out in the MMI Group Limited policy. Transactions such as investments in, disinvestment from, switching from and the provision of policy benefits and payment of consideration are subject to the terms and conditions of the policy and in the event of any conflict between the terms and conditions of this document and the policy, the terms and conditions of the policy will prevail. The asset allocation of the portfolio is managed in accordance with the investment limitations set out in Regulation 28 of the Pension Funds Act, 24 of 1956, as amended, and the limits of the type of investments in which the portfolio may be invested may be amended from time to time. The policy fee includes investment-management fees earned by investment managers appointed by Momentum Outcome-based Solutions (Pty) Ltd to manage the investments in respect of the portfolio. The retirement fund agrees that Momentum Outcome-based Solutions (Pty) Ltd and the investment managers are paid out of the policy fee. However, in certain instances (such as the private equity, commodity and fund-of-hedge-fund components), a portfolio may include underlying Investments where fees are deducted from the investment return and not paid out of the policy fee. The policy fee excludes a performance-based fee, except where the retirement fund has specifically agreed that a performance-based fee be included in the policy fee. Such a performance-based fee will be paid by Momentum Outcome-based Solutions (Pty) Ltd on behalf of MMI Group Limited, in its sole discretion, to the underlying investment managers or to Momentum Outcome-based Solutions (Pty) Ltd itself if agreed to by the retirement fund. Momentum Outcome-based Solutions (Pty) Ltd will disclose the performance-based fee paid as well as the basis of its calculation to the retirement fund on request.
investments
Published: June 2017Outcome-based solutions for businesses
Momentum Property Index Portfolio
Investment strategyThe portfolio is aimed at achieving returns as close as possible to that of the FTSE/JSE SA Listed Property Index by tracking the index. The portfolio includes securities in proportions to best replicate the returns of the index. The portfolio may invest in equity and property securities, including companies that derive a material portion of their income from property investment, property collective investment schemes and property loan stock. The portfolio may also invest in participatory interest or any other forms of participation in portfolios of collective investments. The portfolio has no foreign exposure.
Investment portfolio mandateThe portfolio is aimed at achieving returns as close as possible to that of the FTSE/JSE SA Listed Property Index by tracking the index.
Benchmark The portfolio is benchmarked against the FTSE/JSE SA Listed Property Index.
Risk classification description The portfolio may experience a high degree of volatility in the short term, due to
its exposure to the listed property asset class This listed property portfolio has a high probability of capital loss over the short
term, as it is fully invested at all times The portfolio objective is to track the benchmark as closely as possible
Term
Risk
Very short
Very low
Very long
Very high
Medium
Medium
Investment portfolio informationInception date: 11 April 2017Risk classification:
Investment portfolio informationInception date: 11 April 2017Risk classification:
Risk classification description The portfolio may experience a high degree of volatility in the short term, due to
its exposure to the equity asset class This equity portfolio has a high probability of capital loss over the short term, as it
is fully invested at all times The portfolio objective is to outperform the benchmark over three-year
rolling periods
Momentum Portfolio RangeSystematic Strategies Momentum PortfolioTrending Equity Index
Important informationMomentum Outcome-based Solutions (Pty) Ltd, registration number 2004/023064/07, is an authorised financial services provider, FSP licence number 19840. This information is not advice as defined and contemplated in the FAIS Act. The company is also registered as an administrator in terms of Section 13B of the Pension Funds Act, registration number 24/401. MMI Group Limited�s responsibility in connection with the information in this document is limited to its assumed liability in terms of the retirement fund policy. Published promotional material, the application form, its appendices and any other administration forms containing details of the portfolio(s) and underlying investments should all be read in conjunction with the policy as they form part of the policy contract between MMI Group Limited and the retirement fund. Full terms and conditions on the portfolio are set out in the MMI Group Limited policy. Transactions such as investments in, disinvestment from, switching from and the provision of policy benefits and payment of consideration are subject to the terms and conditions of the policy and in the event of any conflict between the terms and conditions of this document and the policy, the terms and conditions of the policy will prevail. The asset allocation of the portfolio is managed in accordance with the investment limitations set out in Regulation 28 of the Pension Funds Act, 24 of 1956, as amended, and the limits of the type of investments in which the portfolio may be invested may be amended from time to time. The policy fee includes investment-management fees earned by investment managers appointed by Momentum Outcome-based Solutions (Pty) Ltd to manage the investments in respect of the portfolio. The retirement fund agrees that Momentum Outcome-based Solutions (Pty) Ltd and the investment managers are paid out of the policy fee. However, in certain instances (such as the private equity, commodity and fund-of-hedge-fund components), a portfolio may include underlying Investments where fees are deducted from the investment return and not paid out of the policy fee. The policy fee excludes a performance-based fee, except where the retirement fund has specifically agreed that a performance-based fee be included in the policy fee. Such a performance-based fee will be paid by Momentum Outcome-based Solutions (Pty) Ltd on behalf of MMI Group Limited, in its sole discretion, to the underlying investment managers or to Momentum Outcome-based Solutions (Pty) Ltd itself if agreed to by the retirement fund. Momentum Outcome-based Solutions (Pty) Ltd will disclose the performance-based fee paid as well as the basis of its calculation to the retirement fund on request.
investments
Published: June 2017Outcome-based solutions for businesses
Momentum Trending Equity Index Portfolio
Term
Risk
Very short
Very low
Very long
Very high
Medium
Medium
Investment strategyThis is a smart beta portfolio that is aimed at achieving capital growth by applying a momentum-based investment strategy to shares listed on the JSE through a smart beta strategy. Smart beta refers to an investment style where the investment manager aims to capture market factors that take advantage of perceived systematic biases or inefficiencies in the market. This is an equity-only portfolio where a systematic process is used.
Investment portfolio mandateThe portfolio is aimed at capturing the equity market returns enhanced by the momentum risk premium. The exposure to shares that exhibit strong momentum qualities is optimized to have the maximum probability of achieving the desired outcome over a full market cycle. The long-term return objective is to outperform the FTSE/JSE Capped Shareholder Weighted All Share Index over three-year rolling periods.
Benchmark The portfolio tracks a proprietary index and is benchmarked against the FTSE/JSE Capped Shareholder Weighted All Share Index.
Investment portfolio informationInception date: 11 April 2017Risk classification:
Risk classification description The portfolio may experience a high degree of volatility in the short term, due to
its exposure to the equity asset class This equity portfolio has a high probability of capital loss over the short term, as it
is fully invested at all times The portfolio objective is to outperform the benchmark over three-year
rolling periods
Momentum Portfolio RangeSystematic Strategies Momentum PortfolioValue Equity Index
Important informationMomentum Outcome-based Solutions (Pty) Ltd, registration number 2004/023064/07, is an authorised financial services provider, FSP licence number 19840. This information is not advice as defined and contemplated in the FAIS Act. The company is also registered as an administrator in terms of Section 13B of the Pension Funds Act, registration number 24/401. MMI Group Limited�s responsibility in connection with the information in this document is limited to its assumed liability in terms of the retirement fund policy. Published promotional material, the application form, its appendices and any other administration forms containing details of the portfolio(s) and underlying investments should all be read in conjunction with the policy as they form part of the policy contract between MMI Group Limited and the retirement fund. Full terms and conditions on the portfolio are set out in the MMI Group Limited policy. Transactions such as investments in, disinvestment from, switching from and the provision of policy benefits and payment of consideration are subject to the terms and conditions of the policy and in the event of any conflict between the terms and conditions of this document and the policy, the terms and conditions of the policy will prevail. The asset allocation of the portfolio is managed in accordance with the investment limitations set out in Regulation 28 of the Pension Funds Act, 24 of 1956, as amended, and the limits of the type of investments in which the portfolio may be invested may be amended from time to time. The policy fee includes investment-management fees earned by investment managers appointed by Momentum Outcome-based Solutions (Pty) Ltd to manage the investments in respect of the portfolio. The retirement fund agrees that Momentum Outcome-based Solutions (Pty) Ltd and the investment managers are paid out of the policy fee. However, in certain instances (such as the private equity, commodity and fund-of-hedge-fund components), a portfolio may include underlying Investments where fees are deducted from the investment return and not paid out of the policy fee. The policy fee excludes a performance-based fee, except where the retirement fund has specifically agreed that a performance-based fee be included in the policy fee. Such a performance-based fee will be paid by Momentum Outcome-based Solutions (Pty) Ltd on behalf of MMI Group Limited, in its sole discretion, to the underlying investment managers or to Momentum Outcome-based Solutions (Pty) Ltd itself if agreed to by the retirement fund. Momentum Outcome-based Solutions (Pty) Ltd will disclose the performance-based fee paid as well as the basis of its calculation to the retirement fund on request.
investments
Published: June 2017Outcome-based solutions for businesses
Momentum Value Equity Index Portfolio
Term
Risk
Very short
Very low
Very long
Very high
Medium
Medium
Investment strategyThis is a smart beta portfolio that is aimed at achieving capital growth by applying a value-based investment strategy to shares listed on the JSE through a smart beta strategy. Smart beta refers to an investment style where the investment manager aims to capture market factors that take advantage of perceived systematic biases or inefficiencies in the market. This is an equity-only portfolio where a systematic process is used.
Investment portfolio mandateThe portfolio is aimed at capturing the equity market returns enhanced by the value risk premium. The exposure to shares that exhibit strong value qualities is optimised to have the maximum probability of achieving the desired outcome over a full market cycle. The long-term return objective is to outperform the FTSE/JSE Capped Shareholder Weighted All Share Index over three-year rolling periods.
Benchmark The portfolio tracks a proprietary index and is benchmarked against the FTSE/JSE Capped Shareholder Weighted All Share Index.
The company is an authorised financial services provider registration number 2004/023064/07268 West Avenue Centurion 0157 PO Box 7400 Centurion 0046
Disclaimer:Momentum Outcome-based Solutions (Pty) Ltd, registration number 2004/023064/07, is an authorised financial services provider in terms of Section 8 of the Financial Advisory and Intermediary Services Act, 37 of 2002 (FAIS Act), as amended, FSP licence number 19840. This information is not advice as defined and contemplated in the FAIS Act.
Momentum Outcome-based Solutions (Pty) Ltd is also registered as an administrator in terms of Section 13B of the Pension Funds Act, registration number 24/401.
Given that past returns may not be indicative of future returns and the value of investments will fluctuate over time, independent professional advice should always be sought before making an investment decision. MMI Group Limited�s responsibility in connection with the information in this document is limited to its assumed liability in terms of the retirement fund policy. Published promotional material, the application form, its appendices and any other administration forms containing details of the portfolio(s) and underlying investments should all be read in conjunction with the policy as they form part of the policy contract between MMI Group Limited and the retirement fund. Full terms and conditions on the portfolio are set out in the MMI Group Limited policy. Transactions such as investments in, disinvestment from, switching from and the provision of policy benefits and payment of consideration are subject to the terms and conditions of the policy and in the event of any conflict between the terms and conditions of this document and the policy, the terms and conditions of the policy will prevail. The asset allocation of the portfolio is managed in accordance with the investment limitations set out in Regulation 28 of the Pension Funds Act, 24 of 1956, as amended, and the limits of the type of investments in which the portfolio may be invested may be amended from time to time. The policy fee includes investment-management fees earned by investment managers appointed by Momentum Outcome-based Solutions (Pty) Ltd to manage the investments in respect of the portfolio. The retirement fund agrees Momentum Outcome-based Solutions (Pty) Ltd and the investment managers are paid out of the policy fee. However, in certain instances (such as the private equity, commodity and fund-of-hedge-fund components), a portfolio may include underlying Investments where fees are deducted from the investment return and not paid out of the policy fee. The policy fee excludes a performance-based fee, except where the retirement fund has specifically agreed that a performance-based fee be included in the policy fee. Such a performance-based fee will be paid by Momentum Outcome-based Solutions (Pty) Ltd on behalf of MMI Group Limited, in its sole discretion, to the underlying investment managers or to Momentum Outcome-based Solutions (Pty) Ltd itself if agreed to by the retirement fund. Momentum Outcome-based Solutions (Pty) Ltd will disclose the performance-based fee paid as well as the basis of its calculation to the retirement fund on request.
The information reproduced in this document has been compiled by or arrived at by Momentum Outcome-based Solutions (Pty) Ltd from sources believed to be reliable. Although reasonable steps have been taken to ensure the validity and accuracy of the information in this document, Momentum Outcome-based Solutions (Pty) Ltd does not accept any responsibility for any claim, damages, loss or expense, howsoever arising, out of or in connection with the information in this document, whether by a client, investor or intermediary. The information and any view or opinion contained in this report is proprietary to Momentum Outcome-based Solutions (Pty) Ltd and is protected by copyright under the Berne Convention. In terms of the Copyright Act, 98 of 1978, as amended, this report or any part thereof may not be reproduced or transmitted in any form or by any means, electronic or mechanical, including photocopying, recording or by any information storage and retrieval system, without prior permission in writing from Momentum Outcome-based Solutions (Pty) Ltd. The illegal and unlawful or attempted illegal and unlawful copying or use of this information or views may result in criminal or civil legal liability.
