Terms & Conditions

Using Nedgroup Investments website and the ‘Extraordinary Life financial advice tool

‘Extraordinary Life’ forms part of the Nedgroup Investments (Pty) Ltd (acting for themselves and their operating subsidiaries), collectively “Nedgroup Investments”, website which use is governed by the “Legal information” setting out the terms and conditions that regulate the relationship between Nedgroup Investments and any website user. Please familiarise yourself with the content thereof, which includes important disclosures and policies, prior to using the website and Extraordinary Life’.

By using the website and Extraordinary Life you acknowledge and agree that you have read and understood (a) the Nedgroup Investments website “Legal information” and (b) the terms and conditions of ‘Extraordinary Life’ as set out herein.

Purpose

Nedgroup Investments developed an online financial advice tool namely ‘Extraordinary Life’ that is designed to recommend investment products that suit individual investor requirements. Investor requirements are based on information provided by investors and this, together with other reasonable assumptions, is used by ‘Extraordinary Life’ to recommend a product that is reflected on the investor’s formal record of advice, together with the product investment details and projections.

For more information on the functionality and methodology applied by Extraordinary Life to make investment recommendations please read the Investment Policy Statement (IPS).

Should you decide to use and implement the recommendations from ‘Extraordinary Life’ you will be required enter into a full Discretionary Investment Mandate with Nedgroup Investment Advisors (Pty) Ltd (an authorised category I, II financial services provider (FSP Licence No. 1652) (hereinafter referred to as “NIA”).

FAIS Licence

NIA is authorised by the Financial Services Board to give advice and render intermediary services as a Discretionary FSP, under Licence number 1652, in respect of the following financial products:

  • Securities and Instruments: Shares; Money market instruments; Debentures and securitised debt; warrants, certificates and other instruments acknowledging, conferring or creating rights to subscribe to, acquire, dispose of, or convert securities and instruments; Bonds; Derivative instruments;
  • Long-term insurance Category C;
  • Pension Fund benefits;
  • Retail Pension Fund benefits;
  • Participatory interests in Collective Investment Schemes; and
  • Bank deposits of less than 12 months. (Category I Intermediary Services only)

Legal capacity

By using Extraordinary Life, you hereby warrant that you have the necessary legal capacity to enter into and be bound by the terms and conditions of the Discretionary Investment Mandate with NIA. Minors must be assisted by their legal guardians and if you are unsure whether you have the necessary legal capacity to enter into agreements, please seek appropriate advice before you continue using this site.

Product disclosure

Through the use of Extraordinary Life, NIA will recommend one of (or a combination of) the investment products listed below.

 Nedgroup Investments (Unit Trusts)

 Nedgroup Investments Retirement Annuity Fund

 Nedgroup Investments Tax Free Investment

Each recommended investment product is made up of one or a combination of underlying recommended unit trust portfolio(s).

The investment product and underlying unit trust portfolio recommendation is based on the information you provided, your specific investment goal and your risk profile.

For more information on the investment products and portfolios please visit the Nedgroup Investments website (www.nedgroupinvestmenst.co.za). By using and completing the Extraordinary Life process you acknowledge that you have read and understood the general and specific investment product and portfolio information as reflected on the relevant portfolio fact sheets.

Product Supplier

Nedgroup Collective Investments (RF) Proprietary Limited (NCI), an authorised collective investment scheme manager, is the supplier of the Nedgroup Investments Tax Free Investment as well as the Nedgroup Investments unit trust portfolio(s) underlying the products made available via Extraordinary Life. NCI is also the sponsor of the Nedgroup Investments Retirement Annuity Fund made available via Extraordinary Life. NCI and NIA are related companies within the Nedgroup companies.

  • There are no restrictions or conditions imposed by NCI with regard to the financial services or products that Nedgroup Investments may provide to NCI.
  • Nedgroup Investments has a contractual relationship with other Product Suppliers and other FSPs, but does not render any financial services on behalf of any of them.
  • Nedgroup Investments does not hold, directly or indirectly, more than 10% of any Product Supplier’s shares, nor does it have any equivalent substantial financial interest in the any Product Supplier;
  • Nedgroup Investments during the preceding 12 month period received more than 30% of its total remuneration, including commission, from NCI.

Avoidance of Conflicts of Interest

Nedgroup Investments and NCI are wholly owned subsidiaries of Nedgroup Investments (Pty) Limited. In terms of FAIS, NCI is an associate of, and a third party in relation to, Nedgroup Investments.

Nedgroup Investments may receive a financial interest from NCI, provided that such financial interest is in the form of fees for financial services rendered by NIA to NCI. To the best of NIA’s knowledge, no conflict of interest exists. Should a conflict of interest arise, such conflict shall be dealt with in accordance with Nedgroup Investment’s Conflict of Interest Management Policy. A copy of this Policy is published on the Nedgroup Investments website, and a copy is also available on request.

Nature of a discretionary investment mandate

Subject to any applicable law, when entering into a Discretionary Investment Mandate with NIA, NIA will manage your investments and shall have full power and discretion to enter into any kind of arrangement or transaction on your behalf including investing in any type of investments or other assets and to, inter alia:

 instruct NCI to invest in unit trust portfolio(s) on your behalf;

 instruct any party to deal as an NIA agent in any of the investments on your behalf;

NIA may also regularly rebalance your overall investment product and or unit trust portfolio(s) in order to increase the chances of achieving your investment objectives. NIA also replace the investment products and or unit trust portfolio(s) it uses from time to time in order to, in NIA‘s judgement, best meet your investment objectives, at its sole discretion.

NIA shall perform its powers and duties set out in the Discretionary Investment Mandate in good faith and with the necessary due care, diligence and skill. NIA holds all the relevant regulatory approvals, as well as the appropriate level of professional insurance cover, to fulfil its obligations in terms of the Discretionary Investment Mandate entered into by you.

Investment performance and objectives

Unit trusts are generally medium to long-term investments. The value of your investment may go down as well as up. Certain unit trust funds may be subject to currency fluctuations due to its international exposure. Past performance is not necessarily a guide to future performance. Nedgroup Investments does not guarantee the performance of your investment and even if forecasts about the expected future performance are included you will carry the investment and market risk, which includes the possibility of losing capital.

Fee disclosure

NIA will not charge you any fees for its services offered through Extraordinary Life or when entering into a Discretionary Investment Mandate with NIA.

NCI as the product supplier will charge a management fee for managing the unit trust portfolio underlying the product(s) you are invested in.

The above management fee for each unit trust portfolio is disclosed in the unit trust portfolio characteristics document and the relevant unit trust portfolio fact sheet available on the NCI website.

In addition to the management fee quoted above, investment in unit trusts involves trading costs, and audit, trustee, administration and insurance charges applicable to unit trusts. As these charges are shared by all investors, they are deducted directly from the assets of a unit trust and are disclosed as part of the Total Investment Charges calculation published in the monthly unit trust portfolio fact sheets available on available on the NCI website.

Accuracy and completeness of information

Nedgroup Investments informs you that:

  • all material facts must be properly and accurately disclosed and that the accuracy and completeness of all information is your responsibility;
  • any misrepresentation, non-disclosure of a material fact or the provision of incorrect information provided to Nedgroup Investments may result in inappropriate advice rendered to you, an incorrect transaction being entered into by you, and / or financial loss to you;
  • you may not sign any blank or partially blank document unless it has checked all the details required have been inserted and are accurate and complete; and
  • you must on request be supplied with a copy of any transaction requirement within a reasonable time. A transaction requirement means any application, instruction or other contractual information required to be completed,

Limitation in respect of advice and election not to follow advice

Where you do not provide all the information requested by Nedgroup Investments and an analysis could not be undertaken, there may be limitations in the appropriateness of the advice, and you should take care to consider on your own whether the product is appropriate to your, objectives and particular needs. Where you elect to conclude a transaction that differs from that recommended by Nedgroup Investments, please be aware that there may be risks involved and that you must take care to consider whether any financial product selected is appropriate to your needs, objectives and circumstances.

Insurance Cover

NIA holds professional indemnity and fidelity insurance cover as required by FAIS.

Privacy

Nedgroup Investments complies with the provisions of the Protection of Personal Information Act, 2013 and you acknowledge and understand that Nedgroup Investments full privacy policy can be viewed on Nedgroup Investments website on. www.nedgroupinvestmenst.co.za.

Complaints procedure

Nedgroup Investments has a formal complaints procedure and appointed a Complaint Resolution Officer who is best placed to receive your complaint and deal with it as quickly and effectively as possible.

Should you wish to complain about the service, you received you can share your concerns with us by phone, letter or e-mail. However we will require that you put your complaint in writing, addressed to the Complaints Resolution Officer.

Telephone: 0860 123 263 (RSA only) or +27 21 416 6011 (outside RSA)

Email: complaints@nedgroupinvestments.co.za

Physical address: 2nd floor, Nedbank Clocktower, V&A Waterfront, Cape Town

Postal Address: P O Box 1510, Cape Town 8000, Cape Town

To help us investigate and resolve your complaint as quickly as possible, we will require you to provide some additional information. We will acknowledge receipt of your complaint within 2 working days and inform you of who will be dealing with your complaint. The complaint will be handled by our Complaints Resolution Officer who is skilled to deal with complaints. Where possible, we will resolve your complaint within 5 business days taking into account the nature of the complaint. If we need more time to complete our investigations, we will keep you regularly updated with our progress. Should you consider that our response to your complaint still does not fully address your issues, please refer your complaint to the Head of Client Services so we can understand if there is anything more we can do. Once we’re satisfied we’ve considered all aspects of your complaint, we will send you our final response. If we do not resolve your complaint internally to your satisfaction, you may ask the relevant Ombud or Adjudicator to review your complaint. The Ombud provides a dispute resolution mechanism which avoids lengthy and costly court proceedings. Please note that there are different Ombuds available depending on the type of product or service you are complaining about

For complaints relating to advice or intermediary services, please contact the Financial Advisory and Intermediary Services Ombud.

Tel: 012 762 5000 / +27 12 470 9080 Fax: 086 764 1422 / +27 12 348 3447

Email: info@faisombud.co.za Website: www.faisombud.co.za

For complaints relating to Nedgroup Investments Retirement Annuity Fund please contact the Pension Funds Adjudicator.

Tel: 012 346 1738 / 012 748 4000 Fax: 086 693 7472

Email: Enquiries@pfa.org.za Post: P.O Box 580, Menlyn, 0063

Compliance Officer:

Nedgroup Investments’ compliance officer contact details are:

Liezel Momberg

Compliance Officer

021416 6000

Liezelmo@nedgroupinvestments.co.za