TALKING FINANCIALLY - Old Mutual
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FINANCIALLY TALKING JUNE 2018 CONTENTS A FOCUS ON THE FUTURE ELIZE BOTHA STANDING OUT FOR THE RIGHT REASONS IZAK ODENDAAL GAINING OUTPERFORMANCE WITH ESG FRANK SIBIYA WHAT’S HOLDING MILLENNIALS BACK FROM REACHING FINANCIAL FREEDOM ELIZE BOTHA FIVE STEPS TO BEING INVESTMENT-SAVVY NEWLYWEDS ANNUAL SERVICE FEE REDUCTIONS IN SOME OLD MUTUAL UNIT TRUST FUNDS DO’S & DON’TS FOR MANAGING YOUR SOCIAL MEDIA REPUTATION STAY UPDATED
A FOCUS ON THE FUTURE
ELIZE BOTHA | MANAGING DIRECTOR: OLD MUTUAL UNIT TRUSTS
“Surely we have a responsibility to leave for future generations 2017 that millennial investors are twice as likely as the overall investor
a planet that is healthy and habitable by all species.” population to invest in companies targeting social or environmental
Sir David Attenborough goals. Despite fears that investors compromise performance for ESG,
a study by the University of Oxford and Arabesque (2015) found that
The month of June is significant in South Africa in that it is about a focus for companies, strong sustainability practices have a positive influence
on our future – the Youth and the Environment. on investment performance. On page 5, Frank Sibiya, Portfolio
Manager at Customised Solutions, looks at how ESG factors are used
Youth Day – 16 June, has been officially commemorated since the
to determine the investment potential of a company.
dawn of South African democracy with the uprising of students in 1976.
As one of the key contributors to our eventual democracy in 1994, the Old Mutual Investment Group is a leader when it comes to Responsible
significance of the voice of our youth cannot be overstated. Global Investing in South Africa. Our business is an active steward of capital
surveys on millennials indicate that this is the most educated generation. through the driving of low-carbon, resource-efficient and financially
These findings were corroborated when we recently surveyed 400 inclusive outcomes and ensures that good governance is an absolute
South African millennials in the Old Mutual Generation Y and Z Savings necessity for long-term performance.
and Investment Research Survey, with one in three working millennials
holding a bachelor’s degree. The key insights our research uncovered This is why we’re so proud that we have recently been named as Best
into this emerging market, highlight the great opportunity for economic Managed Company in the Financial Services Sector and Best Managed
growth and sustainability that exists through a collaborative approach Company of the Year at the Top 500 Awards 2018.
to educating and engaging with them. On page 7, we look at what
drives this generation, what their aspirations, goals and most importantly,
their attitude towards savings and investments are.
The Youth and the Environment are specifically recognised in the
United Nations’ 2030 Agenda for Sustainable Development. Young
people are recognised as agents of change, entrusted with fulfilling
their own potential and ensuring a world fit for future generations.
World Environment Day has been celebrated on 5 June every year
since 1974, to encourage worldwide awareness and action for We are grateful for these awards as they recognise our continuous quest
the protection of our environment. Millennials are far more likely to to build sustainable investment outcomes for our clients, our country and
consider environmental, social, and governance (ESG) factors when our planet. Therefore, with our focus fairly set on ensuring sustainability
making investment decisions than older generations. Recent research for our business and planet, we are confident that with this generation
by the Morgan Stanley Institute for Sustainable Investing revealed in of millennials as leaders of the future, we’re set to achieve both.
2
STANDING OUT FOR
THE RIGHT REASONS
IZAK ODENDAAL | OLD MUTUAL MULTI-MANAGERS
It is ironic that the president of a communist country is now the leading POLITICAL UNCERTAINTY ACROSS
voice in support of free trade and globalisation, but this is the upside- EMERGING MARKETS
down world we live in now. China appears to have taken up the
Argentina has been hardest hit. It has again approached the
baton for an open global economy while the traditional champion
International Monetary Fund for assistance following the slump in its
for free trade, the US, is increasingly taking a closed “America First”
currency. The country has a history of currency and inflation crises,
stance. It has implemented tariffs on steel and aluminium, and has
threatened tariffs on a range of Chinese imports. So far, global trade and with inflation already running above 20% even before the peso
is still largely unimpeded. The World Trade Organisation (WTO) slump, investors are right to be concerned. The country has a huge
recently forecast fairly robust 4.4% growth in world trade volumes fiscal deficit and virtually no domestic bond market, hence the need
this year, after growth rose to 4.7% in 2017, the best performance in to turn to the IMF.
six years. However, the WTO warned that tit-for-tat trade retaliation
could dent business confidence and discourage investment. Turkey’s currency has also hit a record low against the dollar. Its
economy has been booming and grew by 7.4% last year (more
The irony is that the US does not need protective tariffs. Its economy is than China) largely due to fiscal stimulus. Investors are worried about
doing well, unemployment has declined sharply to the lowest level in an overheating economy, but President Erdogan, its increasingly
almost two decades, and its manufacturing sector is humming along.
authoritarian leader, has pressured the central bank to keep interest
The US central bank, the Federal Reserve, is gradually increasing
rates lower than they should be. A lack of central bank independence
interest rates from record low levels, as inflation has drifted back to
is a red flag for investors. Rising inflation and a widening current
its 2% target. Other major central banks such as the Bank of Japan,
the Bank of England and the European Central Bank are years account deficit are tell-tale signs of an unbalanced economy that is
behind the Fed in their hiking cycles, and as a result the US dollar running too hot.
has started strengthening again.
In the first quarter, Russian markets were favoured by investors, buoyed
Why does the dollar matter so much? Though the US share of by a resurgent oil price, low inflation and attractive valuations. Russian
global economic activity has declined with the rise of China and equities also outperformed the MSCI Emerging Markets Index by 8%
other large emerging markets, the US dollar retains its dominance in in dollars in the first quarter, and the country was upgraded from junk
international trade and finance. Across the world, many companies status to investment grade by S&P in March. But the imposition of a
and governments borrow in dollars rather than their own local
fresh round of sanctions against certain Kremlin-aligned “oligarchs”
currencies. When the dollar rises, these debts increase as well. It
saw its market sell off and the rouble slumping against the US dollar.
is still too early to talk about the resumption of the 2011 to 2015
dollar bull market that caused havoc across the financial world. The Brazil, which like Russia also suffered a deep recession in 2015
previous two big dollar bull markets in the late 1990s and early and 2016, remains in the grip of political uncertainty. Brazil will
1980s also coincided with emerging market crises.
hold a general election in October, and former President Lula da
In other words, it is potentially a tricky time for emerging markets, Silva, imprisoned for corruption, is still the most popular candidate,
compounded by unfavourable political dynamics in some of these according to opinion polls. But if the appeal against his conviction
countries. fails, he will be ineligible for participation.
3
Speaking of former presidents in prison, South Korea’s former undoing the political and policy damage of the past few years has
president Park Guen Hye was given a 24-year jail sentence term just begun, while the country’s deep historical structural problems
for corruption. She is the third Korean president to be convicted on and legacy of racial exclusion still need addressing. The World
criminal charges after leaving office. Bank’s latest update on South Africa highlights that it has the highest
income inequality (Gini coefficient) of all countries measured, while
In Hungary, the nationalist Fidesz party won a third consecutive
its low skill levels, dependence on commodity exports and weak
election victory by a wide margin. Fidesz, headed by Premier Viktor
integration into global supply chains constrain the country’s growth
Orban, is accused of systematically undermining democratic checks
potential. Crucially, the World Bank argues that slow growth and high
and balances and suppressing media freedom in Hungary. The
inequality are mutually reinforcing: inequality leads to “contestation
country is a European Union (EU) member, but has been increasingly
for resources (through taxation, expropriation, corruption and crime)”,
critical of the EU’s core liberal values. It is joined by a handful of other
which in turn discourages the investment and job creation needed
Eastern European countries – termed “the rotten fringe of Europe”
to reduce inequality.
by the Financial Times – whose tendency towards strong-man rule
poses a headache for the EU. One quick-win to boosting investment and creating jobs is restoring
certainty in the key mining sector. Reports that talks towards a revised
In an upset election victory, 92-year old Mahathir Mohamed returned
mining charter are progressing well and expected to be concluded
to power as Malaysia’s Prime Minister, a post he occupied between
soon are very encouraging. Given the huge amount of upfront capital
1981 and 2003. While he campaigned on an anti-corruption ticket,
investment needed to build a mine, regulatory certainty is crucial.
he also promised subsidies and tax cuts that would put Malaysia’s
Nobody can predict the future, but the greater the likelihood that
government finances under pressure.
regulatory goalposts could be shifted during the decades-long life of
CLEANING UP IN SOUTH AFRICA a new mine, the smaller the chance investors will put up the capital
A year ago South Africa was downgraded to junk status by S&P for it (or the higher the expected return will have to be to justify the
and Fitch following the midnight axing of then Finance Minister risk). Total mining production is still below 2008 levels, and shows
Pravin Gordhan. Now it is Gordhan who is doing the sacking in his no sign of improvement, while gold production’s downward trend
new capacity as Public Enterprises Minister. He has been replacing remains intact. At least our Commonwealth Games athletes produced
compromised executives and board members at the state-owned a lot of gold.
enterprises he oversees, and appointing new respected leaders
Despite South Africa’s serious long-term challenges, optimism has
to get a new board this year (following Eskom) as the governance
increased in the short term. The fact that the rand has held up better
clean-up continues under President Ramaphosa.
than its peer currencies since December, even amid the recent
In other words, among emerging markets, South Africa is increasingly emerging market stresses, reflects this. The global economy is still
standing out, and this time for the right reasons. After years of growing nicely – despite the talks of a trade war – and this is still
deterioration, governance is improving and economic reforms are a key external support that gives us a window of opportunity to
in the pipeline. There are clearly still huge problems. The process of implement confidence-boosting reforms.
4
GAINING OUTPERFORMANCE
WITH ESG
FRANK SIBIYA | PORTFOLIO MANAGER AT CUSTOMISED SOLUTIONS
Historically, fund managers mainly used financial factors to CREATING A RESPONSIBLE INVESTMENT
determine the investment potential of a company. Now the market EQUITY INDEX
is increasingly also using non-financial metrics to establish the This index is made possible through the ESG-related data
drivers of a company’s value. These include environmental, social collected by leading index provider Morgan Stanley Capital
and governance (ESG) factors – some of which have had profound International (MSCI). Using the data supplied by the MSCI, and
impacts on company valuations. Consider, for instance, the cost through a proprietary weighting methodology, we built an index
to British Petroleum (BP) of its 2010 Gulf of Mexico oil spill or the that has exposure to the most sustainable companies
in South Africa.
consequences of the labour unrest at Lonmin that resulted in the
Marikana massacre and, more recently, the ramifications of the The Old Mutual Responsible Investment Equity Index was created
Steinhoff accounting scandal. in April 2016. The chart illustrates the performance of this index
in relation to the JSE Shareholder Weighted All Share Index
Despite the risk of investing in companies with poor ESG ratings,
(SWIX) over the past two years. Though not a guarantee of future
traditional indices have had limited scope to incorporate ESG
outperformance, the trend supports the fact that the ESG-led
factors into the selection processes. However, innovations in the
index has paid off relative to the market index. In addition, the
indexation investing space in recent years have broadened the table illustrates how the excess return depicted in the chart was
capabilities of index-tracking investment managers, enabling them achieved at a lower volatility than that of the SWIX.
to integrate ESG factors into their investment processes.
ESG RATINGS RAISE RED FLAGS
Not only can investors now access an index that offers a The Responsible Investment Equity Index is a basket of shares of
benchmark with meaningful exposure to ESG factors – the first of its companies that have a high sustainability profile. We use this
kind in South Africa – but the returns from this index reveal the value index to run our tracker Old Mutual Responsible Investment Equity
of this approach. Index Fund. This fund is particularly attractive to long-term investors
EXAMPLES OF ESG ISSUES THAT IMPACT COMPANIES
ENVIRONMENTAL SOCIAL GOVERNANCE
Climate change Employee engagement Board expertise/independence
Carbon emissions Labour standards Executive incentives
Pollution Health and safety Shareholder rights
Water scarcity Diversity Audit/accounting practices
Renewable energy Privacy and data protection Business ethics and fraud
Green building Stakeholder activism Political interference
Sources: MSCI ESG Research, UNPRI, Old Mutual
5
that value sustainable economic themes, given their extended
investment time horizon. Over the two years since its inception,
Steinhoff has never been included in the Responsible Investment
Equity Index, based on MSCI's ESG rating.
GROWING GLOBAL DEMAND
Over 1 200 asset owners, investment managers and professional
service partners have become signatories of the United Nations-
backed Principles for Responsible Investment (PRI). Broad
acceptance of these practices in the market has translated into
strong demand for sustainability-themed investment products.
As at December 2017, MSCI reported that about US$98 billion of
assets were benchmarked against the MSCI ESG indices.
ESG-led index-tracking products can offer investors the opportunity
to send signals to capital markets that sustainability considerations
are of prime importance, without adversely affecting the risk-return
characteristics of an investor’s financial returns. In addition, investors
also benefit from the substantially lower fees associated with
index-tracking funds. In essence, ESG indices empower investors
to vote with their feet by investing only in companies with high
sustainability profiles, without compromising on investment returns.
OLD MUTUAL RESPONSIBLE INVESTMENT EQUITY
INDEX: ANNUALISED RETURN SINCE INCEPTION
(1 APRIL 2016 – 30 MARCH 2018)
10.0%
5.4%
4.6%
Old Mutual Responsible JSE Shareholder Excess
Investment Equity Index Weighted All Return
Share Index (SWIX)
Sources: Old Mutual Investment Group, FactSet
Indices Volatility Since Inception*
Old Mutual Responsible
9.4%
Investment Index
JSE Shareholder Weighted All
10.1%
Share Index (SWIX)
*Inception date: 1 April 2016. Source: Old Mutual Investment Group. Figures as at end of March 2018
6
WHAT’S HOLDING MILLENNIALS BACK
FROM REACHING FINANCIAL FREEDOM
Results of the 2017/2018 Old Mutual Millennial survey
Better educated, tech-savvy and optimistic millennials – South Unless millennials address their high levels of debt, they’ll struggle to
Africans born between 1982 and 2000 – are more likely to seek reach their goal of financial freedom and independence.
financial independence and personal fulfilment, compared to older
The four pitfalls millennials face on their journey to reach financial
generations. The Old Mutual Millennial survey was commissioned
freedom are:
to better understand the financial behaviour of employed millennials,
versus older generations surveyed in the 2017 Old Mutual Savings
and Investment Monitor. 1. HIGH LEVELS OF DEBT
It showed that 24% of millennials are currently invested in a unit trust
– versus only 2% among older generations – with 57% of millennials
saying they invested in a unit trust with the purpose of increasing
their net worth (1st) and 47% saying they looked to invest to reach
financial freedom (2nd). However, the survey also revealed that 35%
of millennials were saving money to pay back debt – this number
was 13% for older South Africans.
Millennials are facing unique financial challenges that make them
susceptible to debt. Many are playing ‘asset catch-up’ – purchasing
appliances and motors vehicles on credit – while caring for financially Debt, typically in the form of personal loans, is often used to buy
dependent relatives (other than their children), which creates a tension things that will be consumed – like appliances, clothes, or items
between the expectations of family and dreams millennials have for that tend to depreciate over time. The survey revealed that 64% of
their own financial future. millennials – compared to 14% among older generations – had a
personal loan and 35% (versus 13%) of their income was spent on
Research also showed that millennials are more likely to save money
servicing the interest on debt.
– in order of priority, towards travel (37% versus 10%), their education
(31% versus 4%), a motor car (32% versus 11%) or starting their own A rule of thumb is never to spend more than you earn. The first step
business (23% versus 3%) – than older generations. in achieving financial freedom is to eliminate debt by applying the
This shift in priorities speaks to the bigger differences in the way basic 50-30-20 rule of budgeting. Use 50% of your salary to cover
millennials and older generations view money and the unique challenges your essential expenses. Allocate 20% of your salary towards your
they face. Complete financial freedom – and the flexibility it offers investments and personal goals – it’s recommended to put away
us to travel, or to be our own boss – comes when the income from 15% of your salary towards your retirement savings. Lastly, use the
your assets exceeds your expenses. Only by reducing debt in tandem remaining 30% of your income for flexible spending. However, if
with investing in investment vehicles which offer growth assets and you’re currently in debt, use this money to pay off your debt as soon
returns can millennials hope to reach this goal. as possible.
7
2. SAVING, RATHER THAN INVESTING 4. NOT DEFINING YOUR VALUES
Without a clear goal most people will find themselves spending
According to the research, an alarming 47% of millennials – nearly rather than saving. Every person is unique, and our relationship with
half – did not know what a unit trust was. Others, who said that they money is often complex. An understanding of your intrinsic values is
could further define the collective scheme investment vehicle, tended also essential to find the resolve to achieve financial freedom. When
to have difficulty in articulating their understanding of it. However, we’re working towards something that’s important to us, we’re often
almost 61% of millennials in the survey were saving money in a bank more willing to work harder to reach our goal.
account, suggesting that millennials do not understand the difference
Investing enough money to be financially free may feel like a "long
between saving and investing.
shot", but the first step is always the hardest. Don’t be intimidated
Unlike saving – which is setting money aside with the intention of by your goal. Start small, and once you’ve achieved a milestone,
spending tomorrow – the second step to reach financial freedom you’ll be more motivated to reach the next, and bigger goals won’t
is rather to invest and build wealth by creating a second source of seem so unattainable anymore – start today.
income to supplement your salary. Bank accounts are seldom able
to deliver real growth required to beat inflation, whereas, equity-
based investment vehicles can protect the buying power of your
money over the long term.
3. KEEPING UP WITH THE KARDASHIANS
The third pitfall is overspending – often utilising expensive credit –
to buy the things we absolutely "need" to appear successful. What
people don’t realise is that the real secret to financial freedom is to
keep your living expenses as low as possible. Constantly increasing
your credit limit as your income increases to keep up with the
expectations of friends and family only serves to keep you further
away from reaching your goal.
8
FIVE STEPS TO BEING INVESTMENT-
SAVVY NEWLYWEDS
While the Queen of England may have given Prince Harry and Meghan Markle the title of Duke and Duchess of Sussex as a wedding gift
this royal couple reportedly asked guests for charitable donations in lieu of wedding gifts. While they seemingly have everything, they are
by no means a typical millennial couple, but do fall into a generation that is said to prefer cash as a wedding offering over tangible gifts.
While agreeing that this generational shift away from registering for traditional gifts makes sense, Lisa Airey, Strategy Analyst at Old Mutual
Unit Trusts, urges millennial newlyweds to consider investing their monetary contributions into building a financially secure future together.
“Opting for cash over gifts is a sensible decision when considering that many young couples live together before getting married nowadays
and have, as such, already acquired a large majority of the household items that are traditionally given as wedding gifts. It is important,
however, that these soon-to-be married millennials see the lump sum of cash that they are likely to receive as an opportunity to jumpstart
reaching their combined dreams and aspirations. Saving towards a deposit on your first home or birth of a baby is so much more rewarding
than receiving a second dinner service set.”
TO HELP YOUNG NEWLYWEDS IN MAKING THE RIGHT DECISIONS WITH REGARD
TO THEIR MONEY, AIREY LISTS FIVE STEPS TO INVESTING EFFECTIVELY AS A COUPLE.
DEVELOP A STRATEGY TOGETHER
It is essential that the couple comes up with a long-term strategy for saving and investing that
1 they both agree is in line with their combined aspirations, explains Airey. “Every couple will
understandably have different goals, so it is important that you talk this through in great detail
before getting married, to ensure that you are on the same page when it comes to making
any big financial decisions.”
ESTABLISH A SYSTEM FOR RESOLVING DISPUTES
Airey warns couples that, while they may be in a blissful honeymoon bubble right now,
they’re bound to clash at times and should prepare for when those times come.
2 “Have a system and resources in place to help you through the difficult disagreements,”
she explains. “And seeing that money problems are the most common reason for divorce,
a financial planner can prove very handy in helping a couple to manage their finances
effectively when they may not see eye to eye,” she adds.
9
COMMIT TO WORKING TOGETHER
Even though it is common for one spouse to take the lead when it comes to financial decisions,
3 Airey says it is important that both partners be involved when it comes to their long-term financial
planning. “The fact of the matter is that doing things as a team will result in a better outcome and
allow for a better partnership in the long run.”
UNDERSTAND EACH OTHER’S GOALS AND FEARS
In order to build a successful and mutually beneficial relationship, Airey says that it is essential for
4 both parties to be completely honest about not only their financial position going into the marriage,
but also their financial goals and fears for the future. “It is common for two partners to have
different levels of aversion to risk, or different spending habits, and that’s okay, as long as they are
transparent with each other about these from the start.”
STAY FOCUSED ON GOALS
5 The last tip that Airey offers to newlyweds is to be realistic about the time horizon for reaching their
goals. “Couples need to keep in mind that building wealth is a marathon, rather than a sprint.
Developing a well-thought-out financial plan and strategy is very important.”
On the topic of investment vehicles, however, Airey does state that unit trusts can prove extremely helpful in reaching goals and
aspirations sooner than expected. “Unit trusts are designed and managed to grow your wealth and help you achieve your goals and
dreams, by offering an easy, affordable and a convenient way to invest in stock markets and asset classes such as equities, property,
bonds and money markets. Unit trusts are also liquid, so you have access to the funds when you need it, but your initial capital grows,
unlike in a regular savings account.”
Airey suggests selecting a unit trust fund that is best suited for your time horizon. “After setting your goal date, select the right unit trust
investment appropriate for your risk profile and asset allocation.” She adds that couples should consider a tax-free unit trust. “No tax is
charged on interest, dividends or capital gains as long as you stay within the R33 000 annual limit. This means that tax-free unit trusts
can prove extremely helpful in reaching goals and aspirations sooner than expected.”
Some of the most common goals that couples could consider investing towards include:
Saving for a deposit on a property
Investing for an unforgettable holiday
Saving and investing for a sabbatical
Funding children’s education
An emergency fund for unexpected future costs
“Once you’ve merged your life with someone else’s, you’re working towards building the life you want to live together,” says Airey.
Being on the same page about your goals for the future is a cornerstone in a solid marriage.
10ANNUAL SERVICE FEE REDUCTIONS
IN SOME OLD MUTUAL UNIT
TRUST FUNDS
We are pleased to inform you that we have reduced the annual service fees of several of our unit trust funds.
At Old Mutual Unit Trusts, we value the fact that you entrusted your investments with us. This is why we take our responsibility to provide
you with a range of attractively priced funds with clear investment objectives very seriously. As a result, we decided to reduce the annual
service fees of certain of our funds.
The annual service fee reductions will help alleviate the impact of inflation and volatile investment markets, reduce the total cost of
investing over time and enhance investment returns for all investors invested in these funds.
The following service fee reductions have been implemented:
AS OF 1 APRIL 2018:
ANNUAL SERVICE FEE (excluding VAT)
FUND NAME FEE CLASS
Previous New Reduction
A 0.60% 0.50% -0.10%
Old Mutual Core Balanced Fund
B1 0.35% 0.25% -0.10%
A 0.60% 0.50% -0.10%
Old Mutual Core Conservative Fund
B1 0.35% 0.25% -0.10%
A 0.60% 0.50% -0.10%
Old Mutual Core Moderate Fund
B1 0.35% 0.25% -0.10%
Old Mutual Capped A 0.60% 0.50% -0.10%
SWIX Index Fund B1 0.35% 0.25% -0.10%
AS OF 1 MAY 2018:
ANNUAL SERVICE FEE (excluding VAT)
FUND NAME FEE CLASS
Previous New Reduction
Old Mutual Multi-Managers A 1.50% 1.00% -0.50%
Maximum Return Fund of Funds B4 1.00% 0.70% -0.30%
Old Mutual Multi-Managers A 1.00% 0.85% -0.15%
Enhanced Income Fund of Funds B4 0.60% 0.60% 0.00%*
* No reduction - unchanged
We hope these annual service fee reductions will continue to strengthen our partnership and ultimately assist to grow wealth over the
long term.
For more information please contact your Old Mutual Fund Specialists or visit our website www.omut.co.za. Alternatively, contact our
contact centre by calling 0860 234 234 or emailing unittrusts@oldmutual.com.
11DO’S & DON’TS
FOR MANAGING YOUR SOCIAL MEDIA REPUTATION
DO’S DON’TS
Always indicate on your profile that your Don’t post information about your professional
views are your own and not those of your life, or any information that discredits the
employer. company.
Don’t speak on behalf of your employer, share
Be polite – behave online in the same way
trade secrets or offer financial advice on social
you would at an important social event.
media.
Be aware that content posted can go viral;
it can be screen-grabbed, forwarded or Don’t write malicious comments that upset other
published. The delete button may not end an people.
inappropriate post.
Think before you retweet, repost or share Don’t upload anyone’s personal data without
content. their consent (photos, company logos, etc.).
Respect copyright law and ask for Don’t use your work email address, username
permission before publishing. or password on any social media sites.
YOU ONLY HAVE ONE REPUTATION AND WHATEVER YOU SHARE ON
REMEMBER
THE INTERNET LASTS FOREVER!
12STAY UPDATED
TRANSACT SAFELY AND SECURELY ONLINE
Old Mutual Unit Trusts’ suite of internet-based self-help services offers the most convenient way to obtain and manage portfolio and
investment information. No queues, no office hours, and no endless telephone calls.
THE OLD MUTUAL UNIT TRUSTS' SECURE SITE ENABLES YOU TO CONVENIENTLY:
• View your full portfolio of unit trust investments.
• Buy, sell, and switch units (transact access).
• Amend personal contact details.
In addition, third party representatives acting on your behalf may apply for access to your portfolio.
To apply for access, please complete the online registration process to obtain a unique user number and to confirm your password.
Using this detail, you can then login and apply for the specific accesses you need.
ENSURE YOUR PERSONAL AND BENEFICIARY DETAILS ARE CURRENT
PERSONAL DETAILS
It is important to ensure that all your personal details that are linked to your unit trust portfolio are complete and up to date at all times.
If any of your details change – e.g. email address, contact number (mobile, work, home), address (residential, postal and tax) – please
inform us as soon as possible, so that we can update our records.
TAX RESIDENCY DETAILS
Please ensure that you have provided us with your tax residence information and, if you are a foreign tax resident, your tax number.
Processing of transaction instructions are dependent on all your information being up to date. If you have not yet provided us with this
information, or if you are aware that it has changed, please inform us so that we can continue to provide quality service to you without
any delay.
HOW TO DO THIS?
• If you receive your transaction statement electronically via an Old Mutual Unit Trusts InfoSlip, select the “Your Details” tab to update
your contact details.
• If you have access to the Old Mutual Unit Trusts Secure Service, you can update your personal details at www.omut.co.za.
• You can call our Client Services Centre on 0860 234 234 or +27 21 503 1770.
• You can download the Client Details Update Form from https://www.oldmutual.co.za/personal/investments-and-savings/
unittrusts/forms and return the completed form, along with your supporting documents, via email to uttransactions@oldmutual.com.
• If you prefer face-to-face interactions, you can inform your adviser of your change in personal details or visit your nearest
Old Mutual branch, to update your details on the Old Mutual system.
BENEFICIARY DETAILS
As part of planning and taking care of your dependants in the event of your death it is very important that you have a nominated
beneficiary on all your unit trust retirement products, and that you regularly maintain these details, especially if your family circumstances
change. Just access, complete, scan and email the beneficiary nomination form available on our site at
https://www.oldmutual.co.za/personal/investments-and-savings/unittrusts/forms or contact our Client Service Centre 0860 234 234.
13About Old Mutual Unit Trusts
Old Mutual Unit Trust Managers (RF) (Pty) Ltd is a registered manager in terms of the Collective Investment Schemes Control Act 45 of 2002. The fund fees and costs that we charge for managing your investment are set out
in the relevant fund's Minimum Disclosure Document (MDD) or table of fees and charges, both available on our public website, or from our contact centre. Collective Investment Schemes are generally medium to long-term
investments; the value of participatory interests or the investment may go down as well as up; past performance is not necessarily a guide to future performance. Old Mutual is a member of the Association for Savings & Investment
South Africa (ASISA).
Important Information:
Old Mutual Unit Trust Managers (RF) (Pty) Ltd is part of Old Mutual Wealth (“OMW”), which is an elite service offering brought to you by several licenced Financial Services Providers in the Old Mutual Group (“the Old Mutual
Group”). This newsletter is for information purposes only and does not constitute financial advice in any way or form. It is important to consult a financial planner to receive financial advice before acting on any information
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of any nature whatsoever, which may be suffered as a result of, or which may be attributable, directly or indirectly, to the use of, or reliance upon any information contained in this newsletter.
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