The Standard Bank Fundisa Fund shall be a feeder fund portfolio.
The investment objective of the Standard Bank Fundisa Fund is to achieve an investment medium for investors, which shall have as its primary objectives a reasonable level of current income and the maximum preservation of capital invested.
Apart from assets in liquid form, the underlying assets will consist solely of participatory interests in a single portfolio of a collective investment scheme located in the Republic of South Africa and approved by the Registrar, namely the Central Fundisa Fund managed by STANLIB Collective Investments Ltd. The underlying assets of this last mentioned portfolio will consist apart from assets in liquid form, solely of participatory interests of collective investment schemes of fixed-interest income orientated portfolios of collective investment schemes registered in Republic of South Africa as permitted in terms of the hosting agreement with the Association of Collective Investments ('ACI'), the 'Fundisa Fund' trademark holder or any other association that may replace the ACI and who is the legal owner of the 'Fundisa Fund' trademark.
For the purpose of the Standard Bank Fundisa Fund, the manager shall reserve the right to close the portfolio to new investors on a date determined by the manager. This will be done to enable the manager to administer the portfolio in accordance with its mandate. The manager may in its discretion, open the portfolio again to new investors on a date determined by the manager.
The trustee shall ensure that the investment policy set out in the supplemental deed is carried out.