The Centaur Flexible Fund was launched in December 2004 in partnership with Metropolitan Collective Investments. Metropolitan Collective Investments holds the unit trust licence and administers the fund whilst we are responsible for the investment management of the Fund.

There are several advantages to the Centaur Flexible Fund

• Extremely tax efficient vehicle with only the profit on the sales of units being deemed tax events for capital gains tax.
• Highly liquid as it can be liquidated with 24 hours notice.
• Low transactions cost.
• Secure - Unit trusts are highly regulated by the Financial Services Board and all assets of the fund are held in a trust for the underlying investor.

Benchmark: 15% Resource Index; 65% Financial & Industrial Index; 20% Cash (Repo rate).

Fees

For the unit trust there is an annual fee of 1.25% per annum on the value of the fund. In addition there is a performance fee of 20% of the unit trust outperformance of the benchmark which comprises 15% Resource Index; 65% Financial & Industrial Index, 20% Cash (Repo rate) with a high watermark. The above fees are before VAT.

Minimum Size of Investment

The minimum initial investment for the Centaur Flexible Fund is R100,000 thereafter the minimum amount for a debit order is R1,000 per month.