The Sanlam Group is a full member of the Association for Savings & Investment SA (ASISA). When you invest in a unit trust (also called a collective investment scheme), your money is pooled with the money of other investors. This pool of money is used to buy a portfolio of assets, such as shares (equities), bonds or listed property. As an investor, the value of the units you own is calculated by taking the number of units you own and multiplying them by the latest ruling price per unit. Forward pricing is used. Also, you’ll find details of what each fund invests in, as well as its risk profile, specified in the fund fact sheets.

The price per unit (excluding money-market type funds) goes up and down according to the value of the underlying assets in the relevant portfolio. As is always the case, neither your capital nor the return of your investment is guaranteed for any unit trust fund investment. For information on unit trusts and how they work, along with our full range of funds and the relevant fund fact sheets, please visit www.sanlamunittrusts.co.za or call us on 0860 100 266.

• When you complete this form, you apply to buy units in the funds of your choice, in line with the Trust Deed and mandate of the relevant funds. The fund fact sheets explain how each fund invests and what fees will be charged.
• Unit trusts are generally medium to long-term investments. Past performance is not necessarily a guide to future performance. Unit trusts are traded at ruling prices and may engage in borrowing and scrip lending. Unit trust prices are calculated on a net asset value basis, which is the total value of all assets in the portfolio, including any income accrual, less any permissible deductions from the portfolio and divided by the units in the portfolio.
• For money market funds, the price of each participatory interest is aimed at a constant value. But, while a constant price is maintained, the investment capital is not guaranteed. Remember, a money market portfolio and short-term debt portfolio is not a bank deposit. The total return of the investment is primarily made up of interest received. The return may also include any gain or loss made on any particular instrument. In most cases this will merely have the effect of increasing or decreasing the daily yield, but in the case of abnormal losses it can have the effect of reducing the capital value of the portfolio. The daily yield is calculated by taking the daily income earned from dividends and interest, subtracting the expenses at a fund level, and dividing the result by the current value of all the assets held in the fund. Remember also that excessive withdrawals from the portfolio may place the portfolio under liquidity pressures, and in such circumstances, a process of ring-fencing the withdrawal instructions, and managed payouts over time, may follow.
• For Sanlam Alternative Income funds, the price of each participatory interest is aimed at a constant value. But, while a constant price is maintained, the investment capital is not guaranteed. The total return of the Sanlam Alternative Income Fund investment is primarily made up of interest and dividends, but the returns may also include any gain or loss made on any particular instrument. In most cases this will merely have the effect of increasing or decreasing the daily yield (as described above, the daily yield is calculated by taking the daily income earned from dividends and interest, subtracting the expenses at a fund level, and dividing the result by the current value of all the assets held in the fund). But in an extreme case, it could reduce the capital value of the portfolio.
• If funds for money market and Sanlam Alternative Income funds are deposited on a non-business day – for instance Saturday, Sunday or a public holiday – investors will receive that specific day’s price and earn interest from that day onwards.

• A fund of funds is a portfolio that invests in portfolios of collective investment schemes, which levy their own charges. This could result in a higher fee structure for the fund of funds.
• A feeder fund is a portfolio that, apart from assets in liquid form, consists solely of participatory interests in a single portfolio of a collective investment scheme, which also levies its own charges, which could result in a higher fee structure.
• Sanlam Collective Investments takes full legal responsibility for the co-branded portfolios (e.g. Graviton funds).
• Portfolios that invest in international investments, or investments in foreign securities, could be accompanied by additional risks, such as potential constraints on liquidity and repatriation of funds, macro-economic risk, political risk, foreign exchange risk, tax risk, settlement risk as well as potential limitations on the availability of market information.
• Income payment(s) will only be paid out to a client's bank account if the investment transactions (e.g. debit orders and deposits) used to purchase units have been cleared by the payment(s) will automatically be reinvested.

We’re working to keep things cheaper and more profitable for you by not charging any performance fees or rebates. You’ll find a schedule of fees, charges and maximum commissions on the Minimum Disclosure Documents. Remember you can obtain the Effective Annual Cost (EAC) of your investment by making use of our EAC Calculator. Please do bear in mind that...

• The following will be levied against the portfolio: brokerage, auditors' fees, performance fees, service fees, applicable taxes, custodian fees, bank charges, trustees' fees and trailer fees (trailer commission is paid by Sanlam to financial advisers on a monthly basis; it forms part of the annual service charge, which is a fixed percentage per annum that is calculated and deducted daily from the accrued income in the portfolio).
• The following fees are charged to the client: Sanlam manager's fees as well as broker advice fees. Commission and incentives may be paid and if so, will be included in the overall costs. The fund manager may borrow up to 10% of the portfolio to bridge insufficient liquidity.
• Debit orders will automatically be cancelled if funds are returned from the bank after 3 consecutive occasions. If a debit order or direct debit is returned by the bank due to insufficient funds being available or for any other reason, the units purchased for that transaction will be reversed (at no cost to the client) and the client's unit trust account will be debited with the units allocated. The client will be liable for any bank charges incurred as a result of a direct debit or monthly debit order being rejected by the bank.

Please make sure you send us your completed instruction (including supporting documents) before the transaction cut-off time. The SA business day transaction cut-off times for our funds are:

• 11:00 for Sanlam Alternative Income Funds
• 13:00 for money market funds
• 15:00 for all other funds.

• We can only process your instruction once we’ve received the correct and accurately completed form and the required supporting documents. If an instruction is issued incorrectly, is unclear, incomplete, or if the supporting documents are not received by the cut-off time, the processing of the transaction will be delayed.
• Your transaction will be priced using the ruling price of the fund for the day the transaction is processed, in other words, the day we receive all of the required information. Any loss will be for the investor’s account. Any interest earned on: money deposited for investment in a fund after the specified cut-off time, incorrect deposits or deposits for applications with outstanding requirements, will not be paid to the client as we are unable to transfer the money in the fund(s) account.
• If a debit order collection date falls on a non-business day, we will collect it on the first available business day thereafter.

• The legal owner of the investment is the person in whose name the investment is registered, regardless of who the payer is. If the legal owner is a minor, we will only accept instructions from their legal guardian. We will only release information to, and act on instructions from, the investor, the authorised signatory or the appointed financial intermediary.
• We can only process your instructions once we have received the correct and accurately completed form and required supporting documents. If an instruction is issued incorrectly, is unclear, incomplete, or if the supporting documents are not received by the cut-off time, the transaction may be delayed. Any loss will be for the investors’ account.
• We permit ring-fencing for large withdrawals in terms of Notice 573 of the Collective Investment Schemes Control Act. Ring-fencing is the separation of assets and the delayed sale of units in a unit trust fund, in the event of a large sale of units within the fund, subject to certain conditions. This ensures that the sale of a large number of units will not force us to sell the underlying investments at a price in the market that could have a negative impact on other investors. We may delay paying the proceeds of the sale of units. If your sell instruction is affected by this ring-fencing, the payment and the value of your withdrawal could be impacted. In the event of this, we will contact you to discuss the process, where applicable.

As a member of the Association for Savings and Investment SA (ASISA), we follow ASISA’s Unclaimed Assets standard.

• An unclaimed asset is any unit trust investment on which there have been no transactions for ten years, or in the case of a deceased estate, more than three years have passed since we have received the notice of death.
• Our policy is to continue reinvesting all income distributions (interest) and redemption payments until the unit trust is sold, regardless of the time frame. According to ASISA’s Unclaimed Assets standard, we follow a process of tracing investors or beneficiaries on any unclaimed assets. Any reasonable administrative and costs incurred to trace the investor may be recovered from the value of the portfolio, thereby reducing the value of your investment. Tracing will cease where the value of the unit trust investment is less than R1 000 and the costs of tracing exceeds the benefit of tracing.

More information on the ASISA Standard on Unclaimed Assets and the processes is available on www.asisa.org.za or from our client service centre on 0860 100 266. Please note that to prevent your investment becoming an unclaimed asset, it is your responsibility to inform us of any change in your personal information.

It's your responsibility to keep us informed of any changes in your banking details, personal information or current identification information (e.g. change of address, change of surname and contact details). If any of your details have changed, you will need to complete an Investor Details Update form available from www.sanlamunittrusts.co.za.

Unit trusts are a flexible investment option, which means that you can make changes to your investment as your personal circumstances change. This means you can change your fund selection, sell some or all of your units, and make additional investments. If you are uncertain about the impact of the changes you want to make and how it could impact your original investment goals, please speak to a financial adviser or broker.

We want to give you outstanding client service, but sometimes things do go awry.

• If you’re dissatisfied with our service, or if any of our products have disappointed you, we want to hear about it. So please get in touch with us in whichever way suits you best:
  • Telephone: 0860 100 266
  • Fax: 021 947 8224
  • Email: complaints@sci.sanlam.com
  • Complete a complaint form online at www.sanlamunittrusts.co.za
  • Visit your nearest Sanlam office.
• We want you to know that your views are very important to us. When we receive your complaint, a competent team, specifically trained to handle and resolve complaints, will investigate it and try to resolve it as soon as possible in a fair manner.
• If the complaint has not been resolved to your satisfaction, you may refer it to the Sanlam Arbitrator. The Sanlam Arbitrator is an impartial person that settles disputes between dissatisfied clients and Sanlam.

Sanlam Arbitrator contact details:
Fax: +27 21 957-1786
Email: arbitrator@sanlam.co.za

We collect certain personal information about you in order to offer you the best possible service. Here’s how we keep that information safe

• We will not share this information outside of the Sanlam Group, its associated groups or agents, without your explicit consent. In order to provide you with an effective service, we may be required to share this information with our administrators or agents who perform certain services for us (e.g. mail houses who post your statements on our behalf), members of the Sanlam Group, your financial adviser or broker, as well as with any regulatory bodies as the law requires. We may share your information with foreign regulatory bodies if required. Your information is used for administrative, operational, audit, marketing, research, legal and record keeping purposes.
• We will take all reasonable steps necessary to secure the integrity of any personal information which we hold about you and to safeguard it against unauthorised access. If you don’t consent to us using your personal information, there may be delays or some instructions might not be carried out.
• You can have access to your information at any time and ask us to correct any information we have in our possession. Please feel free to write to us to obtain a copy of this information. We keep relevant documents for a period of five years or more as required by the law. If you consent to us retaining your personal information for periods of longer than 5 years, we will restrict access to your information. It will only be processed for storage or for purposes of proof (with your consent).

Sanlam and all its group companies are required to collect relevant information from each client to ensure their identification and classification for tax purposes is correct according to the IGA, and report on these clients to the South African Revenue Services ("SARS") where necessary. The Intergovernmental Agreement ("the IGA") entered into between the Governments of South Africa and the United States of America was designed to improve international tax compliance and to implement the Foreign Account Tax Compliance Act ("FATCA"), and equivalent IGAs between the Government of South Africa and any other countries.