Service Providers
Intembeko Investment Administrators
Outsourced liability administrator
INTEMBEKO
The company provides specialised administration services to investment managers and product providers across Unit Trusts, pooled funds, hedge funds, retirement, life and LISP products. Underpinned by strong values, deep industry expertise and a collaborative approach, Intembeko is committed to enabling its clients to deliver service excellence through high-quality, efficient and cost-effective administration solutions.
Standard Bank
Appointed Trustee
Standard Bank
Role of the Trustees
CISCA requires the appointment of an independent Trustee to safeguard the investments within any unit trust. The Standard Bank of South Africa Limited is the appointed trustee of the Ci Collective Investments Scheme.
The Trustee must be completely independent of the business that administers the unit trust (“the Manager”) and its holding company, and must not be associated with the Manager or the Investment Manager in any way.
The Trustees are responsible for holding all the assets of the portfolios, as well as any income accrued and earned in the portfolios, in safe custody on behalf of each of the portfolios.
The Trustee must ensure that the assets of the portfolios, which they hold in safe custody, are held separately from the assets of the Manager or the Investment Manager.This means that if anything happens to the Manager or the Investment Manager, the portfolios of the Manager will not be affected. In other words, your investments are always protected against the insolvency of the Manager.
The Trustees are also responsible for oversight of the portfolios to safeguard against potential mismanagement by the Manager. All transactions in the portfolios are monitored by the Trustees to ensure that they are conducted in accordance with CISCA and the portfolios’ investment objectives.
PricewaterhouseCoopers
Appointed firm of auditors
PricewaterhouseCoopers
In terms of the Collective Investment Schemes Control Act (CISCA), Ci must ensure that the records and annual financial statements of the company and the collective investment scheme are audited not later than three months after the financial year end of Ci, being 30 June of each year, by an auditor who has been appointed by Ci and whose appointment as the auditor has been approved by the Financial Services Board.
The auditor’s responsibility is to express an opinion on these financial statements based on their audit. The audit is conducted in accordance with International Standards on Auditing. Those standards require that the auditor plans and performs the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement.
CISCA stipulates that the auditor has a duty to disclose irregularity or undesirable practice. They must report to Ci any irregularity or undesirable practice in the administration of the collective investment scheme which has come to their notice in the ordinary course of fulfilling their audit responsibilities or performing other functions in terms of CISCA and they must submit a copy of this report to the Registrar of Collective Investment Schemes if there is reasonable cause to believe that such report is or might be of material significance to the Registrar.
The section of CISCA dealing with this reporting requirement refers to a report being of material significance to the Registrar if it deals with a matter which, because of its nature or potential financial impact, has caused or is likely to cause financial loss to the scheme or any of its investors or creditors.
SS&C Administration Services SA
Outsourced asset administration
SS&C Administration Services SA
Who is SS&C and what services do they provide us?
SS&C (previously known as Curo Fund Services) is an investment administration services provider focused on providing a wide range of cost effective outsourced investment administration solutions for institutional asset management clients, using an integrated and scalable platform. SS&C has a well established track record and is jointly owned by the Old Mutual and Sanlam Groups. The company has been in operation for more than a decade and is one of the largest providers in the South African market with over R 1.2 trillion assets under administration.
Core Services:
Full Administration
- Transition Management
- Data Management
- Trade Management
- Asset Servicing
- Cash Management
- Security Valuation
- Reconciliations
- Reporting
Additional Services
- NAV Pricing and Unitisation
- Fund Accounting
- Tax
- Duplication Administration
