CONTENTS
Understanding Unit Trusts
Foreword
- How to use this book
- A note on Terminology
- Qualifications for Financial Advisors
Chapter 1
History of Collective Investment Schemes
- The Establishment of Unit Trusts
- The Crash of 1969
- Lessons from ’69
- An Explosion of Funds
- The Crash of ’87
- Advent of Managed Prudential Funds
- The Effect of Globalisation
- The Crash of 2008 and the Great Recession
- The Impact of Technology
- Direct Access
- Robo-Advisors
Chapter 2
Basic Concepts
- What is a Collective Investment Scheme?
- Simple and Straightforward
- Structure of a Collective Investment Scheme
- Types of Collective Investment Schemes
- How Does a Unit Trust Work?
- Important Features of Collective Investments
- Pros and Cons of Collective Investment Schemes
Chapter 3
Costs and Pricing
- The Importance of Costs
- Transactions
- Charges and Costs
- Unit Classes
- Income Declaration
- Performance and Reporting
- Performance Statistics
Chapter 4
The CIS Industry
- Management Companies
- Trustees and Custodians
- Asset Managers
- Discretionary Fund Managers
- ASISA
- The FSCA (formerly the FSB)
- The Linked Product Companies
- Financial Advisors (Brokers)
Chapter 5
Legislation and Guidelines
- The Need for Regulation
- Collective Investment Schemes Control Act (CISCA)
- The Twin Peaks Approach to Regulation)
- FAIS and COFI
- Financial Intelligence Centre Act (FICA)
- POPI
- CRISA and TCF
Chapter 6
Investment Risk
- What is Risk?
- Risk Assessment
- Starting with the Basics
- Types of Risk
- Measuring Risk
- Risk Profile Worksheets
Chapter 7
Understanding Asset Allocation
- Cash
- Bonds and Gilts
- Equity Funds
- Property Funds
- Derivatives
- Balancing the Asset Mix
Chapter 8
Classification of CISs
- Overview
- Equity Funds
- Multi Asset Funds
- Interest Bearing Funds
- Real Estate
- Hedge Funds
- Other Types of Funds
Chapter 9
Fund Manager Interviews
Unit trusts Reference Section
- Fact Sheet Tips
- Domestic Unit Trust Performance Tables
- Offshore Unit Trust Performance Tables
CIS Managers – Hedge Funds
CIS Managers – Domestic Funds
CIS Managers – Offshore Funds
