Common use of Unit Clause in Contracts

Unit. A unit trust portfolio is divided into identical units. Each unit represents the same amount of assets in the unit trust portfolio. The size of a contribution and the unit price when an investment is made determines the number of units held in a unit trust portfolio. A unit trust portfolio may have different classes of units for which there are different fees and charges. A unit is also known as a ‘participatory interest’ in the unit trust portfolio. In this investment agreement the term ‘unit’ refers to a unit in the Nedgroup Investments unit trust portfolios administered by the Manager. Financial planning business An authorised Financial Services Provider as defined in the Financial Advisory and Intermediary Services Act, which may be either a legal entity or an individual. In this investment agreement the term ‘financial planner’ also refers to ‘financial planning business’. Investment mandate A document we prepare describing the main characteristics, objectives and investment limits of a unit trust portfolio. It is lodged with ASISA and you can ask them or us for it at any time. Compulsory annuity An annuity you may purchase with some or all of the benefit you receive from the fund on retirement. The annuity must be purchased from an insurer registered under the Long-term Insurance Act, or such other annuity income provider as may be allowed by law. Investor number This is your unique identification number that we use to identify you and access your fund membership details and other information. Product account (client account group) Your fund membership and underlying investment is administered by the Administrator through a product account/client account group, which comprises the fund’s underlying unit trust portfolios as selected by you and made available by the fund (also referred to as the ‘underlying investment’ or ‘investment’). We use the term ‘product account’ in this investment agreement. Business day The Administrator and us only operate on business days. This is any day apart from a Saturday, Sunday or official South African public holiday. Day and business day have the same meaning.

Unit. A unit trust portfolio is divided into identical units. Each unit represents the same amount of assets in the unit trust portfolio. The size of a contribution and the unit price when an investment is made determines the number of units held in a unit trust portfolio. A unit trust portfolio may have different classes of units for which there are different fees and charges. A unit is also known as a ‘participatory interest’ in the unit trust portfolio. In this investment agreement the term ‘unit’ refers to a unit in the Nedgroup Investments unit trust portfolios administered by the Manager. Financial planning business An authorised Financial Services Provider as defined in the Financial Advisory and Intermediary Services Act, which may be either a legal entity or an individual. In this investment agreement the term ‘financial planner’ also refers to ‘financial planning business’. Investment mandate A document we prepare the Manager prepares describing the main characteristics, objectives and investment limits of a unit trust portfolio. It is lodged with ASISA and you can ask them or us the Manager for it at any time. Compulsory annuity An annuity you may must purchase with some or all of the benefit you receive from the fund on retirement. The annuity must be purchased from an insurer registered under the Long-term Insurance Act, or such other annuity income provider as may be allowed by law. Investor number This is your unique identification number that we use to identify you and access your fund membership details and other information. Product account (client account group) Your fund membership and underlying investment is administered by the Administrator through a product account/client account group, which comprises the fund’s underlying unit trust portfolios portfolios, as selected by you you, and made available by the fund (also referred to as the ‘underlying investment’ or ‘investment’). We use the term ‘product account’ in this investment agreement. Business day The Administrator and us only operate on business days. This is any day apart from a Saturday, Sunday or official South African public holiday. Day and business day have the same meaning.

Unit. A unit trust portfolio is divided into identical units. Each unit represents the same amount of assets in the unit trust portfolio. The size of a contribution and the unit price when an investment is made determines the number of units held in a unit trust portfolio. A unit trust portfolio may have different classes of units for which there are different fees and charges. A unit is also known as a ‘participatory interest’ in the unit trust portfolio. In this investment agreement the term ‘unit’ refers to a unit in the Nedgroup Investments unit trust portfolios administered by the Manager. Financial planning business An authorised Financial Services Provider as defined in the Financial Advisory and Intermediary Services Act, which may be either a legal entity or an individual. In this investment agreement the term ‘financial planner’ also refers to ‘financial planning business’. Investment mandate A document we prepare describing the main characteristics, objectives and investment limits of a unit trust portfolio. It is lodged with ASISA and you can ask them or us for it at any time. Compulsory annuity An annuity you may purchase with some or all of the benefit you receive from the fund on retirement. The annuity must be purchased from an insurer registered under the Long-term Insurance Act, or licensed under the Insurance Act or such other annuity income provider as may be allowed by law. Investor number This is your unique identification number that we use to identify you and access your fund membership details and other information. Product account (client account group) Your fund membership and underlying investment is administered by the Administrator through a product account/client account group, which comprises the fund’s underlying unit trust portfolios as selected by you and made available by the fund (also referred to as the ‘underlying investment’ or ‘investment’). We use the term ‘product account’ in this investment agreement. Business day The Administrator and us only operate on business days. This is any day apart from a Saturday, Sunday or official South African public holiday. Day and business day have the same meaning.

Unit. A unit trust portfolio is divided into identical units. Each unit represents the same amount of assets in the unit trust portfolio. The size of a contribution and the unit price when an investment is made determines the number of units held in a unit trust portfolio. A unit trust portfolio may have different classes of units for which there are different fees and charges. A unit is also known as a ‘participatory interest’ in the unit trust portfolio. In this investment agreement the term ‘unit’ refers to a unit in the Nedgroup Investments unit trust portfolios administered by the Manager. Financial planning business An authorised Financial Services Provider as defined in the Financial Advisory and Intermediary Services Act, which may be either a legal entity or an individual. In this investment agreement the term ‘financial planner’ also refers to ‘financial planning business’. Investment mandate A document we prepare the Manager prepares describing the main characteristics, objectives and investment limits of a unit trust portfolio. It is lodged with ASISA and you can ask them or us the Manager for it at any time. Compulsory annuity An annuity you may must purchase with some or all of the benefit you receive from the fund on retirement. The annuity must be purchased from an insurer registered under the Long-term Insurance Act, or licensed under the Insurance Act or such other annuity income provider as may be allowed by law. Investor number This is your unique identification number that we use to identify you and access your fund membership details and other information. Product account (client account group) Your fund membership and underlying investment is administered by the Administrator through a product account/client account group, which comprises the fund’s underlying unit trust portfolios as selected by you and made available by the fund (also referred to as the ‘underlying investment’ or ‘investment’). We use the term ‘product account’ in this investment agreement. Business day The Administrator and us only operate on business days. This is any day apart from a Saturday, Sunday or official South African public holiday. Day and business day have the same meaning.

Unit. A unit trust portfolio is divided into identical units. Each unit represents the same amount of assets in the unit trust portfolio. The size of a contribution and the unit price when an investment is made determines the number of units held in a unit trust portfolio. A unit trust portfolio may have different classes of units for which there are different fees and charges. A unit is also known as a ‘participatory interest’ in the unit trust portfolio. In this investment agreement the term ‘unit’ refers to a unit in the Nedgroup Investments unit trust portfolios administered by the Manager. Financial planning business An authorised Financial Services Provider as defined in the Financial Advisory and Intermediary Services Act, which may be either a legal entity or an individual. In this investment agreement the term ‘financial planner’ also refers to ‘financial planning business’. Investment mandate A document we prepare the Manager prepares describing the main characteristics, objectives and investment limits of a unit trust portfolio. It is lodged with ASISA and you can ask them or us the Manager for it at any time. Compulsory annuity An annuity you may must purchase with some or all of the benefit you receive from the fund on retirement. The annuity must be purchased from an insurer registered under the Long-term Insurance Act, or such other annuity income provider as may be allowed by law. Investor number This is your unique identification number that we use to identify you and access your fund membership details and other information. Product account (client account group) Your fund membership and underlying investment is administered by the Administrator through a product account/client account group, which comprises the fund’s underlying unit trust portfolios as selected by you and made available by the fund (also referred to as the ‘underlying investment’ or ‘investment’). We use the term ‘product account’ in this investment agreement. Business day The Administrator and us only operate on business days. This is any day apart from a Saturday, Sunday or official South African public holiday. Day and business day have the same meaning.

Unit. A unit trust portfolio is divided into identical units. Each unit represents the same amount of assets in the unit trust portfolio. The size of a contribution and the unit price when an investment is made determines the number of units held in a unit trust portfolio. A unit trust portfolio may have different classes of units for which there are different fees and charges. A unit is also known as a ‘participatory interest’ in the unit trust portfolio. In this investment agreement the term ‘unit’ refers to a unit in the Nedgroup Investments unit trust portfolios administered by the Manager. Financial planning business An authorised Financial Services Provider as defined in the Financial Advisory and Intermediary Services Act, which may be either a legal entity or an individual. In this investment agreement the term ‘financial planner’ also refers to ‘financial planning business’. Investment mandate A document we prepare the Manager prepares describing the main characteristics, objectives and investment limits of a unit trust portfolio. It is lodged with ASISA and you can ask them or us the Manager for it at any time. Compulsory annuity An annuity you may must purchase with some or all of the benefit you receive from the fund on retirement. The annuity must be purchased from an insurer registered under the Long-term Insurance Act, or licensed under the Insurance Act or such other annuity income provider as may be allowed by law. Investor number This is your unique identification number that we use to identify you and access your fund membership details and other information. Product account (client account group) Your fund membership and underlying investment is administered by the Administrator through a product account/client account group, which comprises the fund’s underlying unit trust portfolios as selected by you and made available by the fund (also referred to as the ‘underlying investment’ or ‘investment’). Your product account may consist of a savings component, a retirement component and a vested component (as applicable) in terms of the fund rules. We use the term ‘product account’ in this investment agreement. Business day The Administrator and us only operate on business days. This is any day apart from a Saturday, Sunday or official South African public holiday. Day and business day have the same meaning.

Unit. A unit trust portfolio is divided into identical units. Each unit represents the same amount of assets in the unit trust portfolio. The size of a contribution and the unit price when an investment is made determines the number of units held in a unit trust portfolio. A unit trust portfolio may have different classes of units for which there are different fees and charges. A unit is also known as a ‘participatory interest’ in the unit trust portfolio. In this investment agreement the term ‘unit’ refers to a unit in the Nedgroup Investments unit trust portfolios administered by the Manager. Financial planning business An authorised Financial Services Provider as defined in the Financial Advisory and Intermediary Services Act, which may be either a legal entity or an individual. In this investment agreement the term ‘financial planner’ also refers to ‘financial planning business’. Investment mandate A document we prepare the Manager prepares describing the main characteristics, objectives and investment limits of a unit trust portfolio. It is lodged with ASISA and you can ask them or us the Manager for it at any time. Compulsory annuity An annuity you may must purchase with some or all of the benefit you receive from the fund on retirement. The annuity must be purchased from an insurer registered under the Long-term Insurance Act, or licensed under the Insurance Act or such other annuity income provider as may be allowed by law. Investor number This is your unique identification number that we use to identify you and access your fund membership details and other information. Product account (client account group) Your fund membership and underlying investment is administered by the Administrator through a product account/client account group, which comprises the fund’s underlying unit trust portfolios as selected by you and made available by the fund (also referred to as the ‘underlying investment’ or ‘investment’). Your product account may consist of a savings component, a retirement component and a vested component (as applicable) in terms of the fund rules. We use the term ‘product account’ in this investment agreement. Business day The Administrator portion of your product account(s), which value is determined with reference to: Transfers from your savings component, or any portion thereof, on or after 1 September 2024; and us transfers from your vested component, or a portion thereof, on or after 1 September 2024; and transfers of the retirement component from another fund on or after 1 September 2024, together with fund return. The portion of your product account(s), where the value is determined with reference to: The seed capital amount (if applicable); and transfers of the savings component from another fund on or after 1 September 2024; less withdrawals from the savings component on or after 1 September 2024, together with fund return. The portion of your product account(s), where the value is determined with reference to: Your product account(s) as at 31 August 2024, after taking into account the deduction and allocation of your seed capital amount to the savings component (if relevant); and transfer of your vested component from another fund on or after 1 September 2024; less transfers to your retirement component, or a portion thereof, on or after 1 September 2024 (if relevant), together with fund return. The amount or starting (opening) balance of your savings component, which will be 10% (ten percent) of the value of your vested component immediately before 1 September 2024, limited to R30 000 (thirty thousand rand). Provided that you were a member of the fund on 1 March 2021 and were age 55 (fifty-five) and older, and you elected to create a savings component, the amount shall be calculated on a date as provided in the Income Tax Act, 1962. The portion of the vested component of your product account(s) where the value is determined with reference to the transfer of benefits from a Provident Fund or Provident Preservation Fund to the fund that is attributable to a retirement interest in a Provident Fund or Provident Preservation Fund before, on or after 1 March 2021 where you were age 55 or older, or on or before 1 March 2021 where you are under the age of 55, and which may be taken as a lump sum on retirement in accordance with the Income Tax Act. We only operate on business days. This is any day apart from a Saturday, Sunday or official South African public holiday. Day and business day have the same meaning.