|
Anwar Moolla - Financial Services
UNIT TRUST INVESTMENTS
1. Oasis Crescent Equity Fund
The Oasis Crescent Equity Fund provides investors with the opportunity to invest in listed equities on both local and international stock exchanges within the ethical parameters of Shari'ah-governed investment.
The Fund is a Shari'ah compliant collective investment scheme that adheres to the ethical investment guidelines that are prescribed by the Dow Jones Islamic Market Index.
As a medium to high-risk investment vehicle, the primary objective of the Oasis Crescent Equity Fund is the protection and growth of investor capital through the application of stringent stock selection criteria to the investment process. The Fund's portfolio is managed in accordance with the Oasis investment philosophy of low volatility fund management that seeks to provide superior returns at lower than market risk.
Income will be distributed once a year following our financial year-end and investors have the option of receiving this sum or re-investing it. Investors who require a regular income stream will have the option of receiving monthly redemptions, should they invest a primary sum that exceeds R250 000.
[Click Here] - OCE Fund
2. Oasis Crescent Balanced Progressive Fund of Funds
The Crescent Balanced Progressive Fund of Funds is a prudential fund that invests in other funds to provide investors with an opportunity to hold a wide range of underlying asset classes within the ethical parameters of Shari'ah-governed investment. These underlying assets classes comprise of:
- Domestic and International listed equities
- Property
- Islamic Bonds (Sukuks)
- Money Market (for Pensions Fund Act regulatory compliance)
The Crescent Balanced Progressive Fund of Funds has a moderate risk of profile due to its investment in a diversified selection of asset classes, and is managed in accordance with regulation 28 of the Pension Funds Act No. 24 of 1956.
This ensures that the Fund is invested according to a prudential mandate which restricts its equity exposure. The Crescent Balanced Progressive Fund of Funds is categorized in the high equity prudential category and thus the portfolio's equity exposure will typically be above the 65%, with a maximum equity exposure of 75% (by prudential mandate).
The Crescent Balanced Progressive Fund of Funds is a specialists, asst allocation prudential portfolio with the primary objective of providing investors with moderate capital appreciation and the secondary objective of moderate income growth based on a selection of underlying investments that comply with ethical and moral considerations.
As a Shari'ah compliant collective investment scheme. The Fund adheres to the ethical investment guidelines that are prescribed by the Shari'ah Advisory Board.
Income will be distributed once a year following the company's financial year-end and investors have the option of re-investing or receiving this sum. Investors who require a regular income stream will have the option of receiving monthly redemptions, should they invest a primary sum that exceeds R 250 000.00.
[Click Here] - CBPF Fund
3. Oasis Property Equity Fund
The Oasis Property Equity Unit Trust Fund provides investors with the opportunity to invest in high quality property and property-related listed companies on both local and international stock exchanges.
The Oasis Property Equity Unit Trust Fund invests in high quality property domestically and is diversified through the holding of different property types. The Fund also has a portion of offshore exposure, investing in property types that are not well represented in South Africa.
The Oasis Property Equity Unit Trust Fund is a medium risk investment vehicle that seeks to provide moderate capital appreciation and a sustainable level of income over the medium to long term. The recommended minimum investment period for investors is three years.
Income will be distributed once a year following the company's financial year-end and investors have the option of re-investing or receiving this sum. Investors who require a regular income stream will have the option of receiving monthly redemptions, should they invest a primary sum that exceeds R250 000.
The Oasis Property Equity Unit Trust Fund aims to achieve growth in excess of its benchmark, the Average Property Fund of the Association of Collective Investments (ACI).
[Click Here] - OCIPE Fund
5. Oasis Crescent International Feeder Fund
The Oasis Crescent Feeder Fund is Shar'ah compliant rand-based foreign general equity fund that invests in offshore dollar-based equities via the Crescent Global Equity Fund (a global Shariah complaint equity mutual fund). The objective of the Oasis Crescent International Feeder Fund is to achieve medium to long-term growth in hard currency (US dollars).
This objective shall be achieved by investing in a single top-performing fund that complies with the same rigorous criteria that seeks to provide superior returns at below average investment risk. The aim of the fund is to provide access to portfolio of investments that is diversified within geographic and industry parameters, offering a hedge against rand depreciation that produces steady capital growth over the medium to long term. The rand-denominated nature of the Oasis Crescent International Feeder Fund enables investors to invest offshore without requiring application to the South African Reserve Bank for foreign exchange approval.
As a Shari'ah-compliant fund, the Oasis Crescent International Feeder Fund will only invest in a selected ethical fund that complies with ethical and moral considerations.
[Click Here] - OCWWF Fund
RETIREMENT SOLUTIONS
1. Oasis Retirement Annuity Fund
This is an essential savings product, which allows individual to provide for retirement by contributing single or recurring contributions in a tax efficient manner. Transfers from other approved pension, provident and retirement annuity funds are also accepted.
It is ideally suited to any individual:
- Who is self-employed or does not qualify for membership of a pension or provident fund.
- Seeking a tax efficient retirement product with tax relief for contributions made.
- Wishing to preserve his/her accrued pension benefits on withdrawal from the service of an employer.
- Whose previous pension fund, to which he/she belonged, is wound up or dissoloved for whatever reason.
- Whose current retirement provision is unlikely to provide sufficient income on retirement.
The following rules apply to the Crescent Retirement Annuity Fund:
Contributions are deductible from taxable earnings, subject to prescribed statutory limits, and clients may elect to take retirement at any time between the ages of 55 and 70 years.
On reaching retirement age, up to one third of the benefit of the fund may be taken in cash, whilst the remainder is used to secure a periodic pension from any registered life assurer.
Upon death, the member's full benefit will be paid to his/her beneficiaries, or heirs, in the form of a lump sum payment with additional pension payments. If a member becomes disabled, the trustees may allow the member to retire early.
The minimum single contribution is an amount of R5,000 and the minimum contribution is a monthly investment amount of R350 per month.
2. Oasis Crescent Retirement Fund
The Crescent Retirement Fund is an umbrella provident scheme that is able to accept employer and employee contributions. These contributions could be invested in a choice of three investment funds, in accordance with the employees investment instructions.
It is ideally suited to smaller companies, schools, or institutions:
- That would like to provide their employees (members) with a retirement scheme.
- That seek a tax efficient retirement scheme and provides tax relief on contributions made
- That seek a low cost retirement scheme that is administratively efficient.
The following rules apply to the Crescent Retirement Fund:
Both employer and member contributions are deductible from taxable earnings, subject to prescribed statutory limits. The normal retirement age is usually set by the employer.
The member may receive part of the member's share as a lump sum payment and a portion of that payment being Tax free with the balance to be used to purchase a annuity from a registered insurer.
Upon death, before retirement the member's full benefit will be paid to his/her beneficiaries, or heirs. The member's full benefit includes the total employer contributions, the total employee contributions and growth on both of these contributions. If a member becomes disabled, the Trustees may allow the member to retire early.
3. Crescent Preservation Pension & Preservation Provident Funds
The purpose of the funds is to receive transfer monies from other approved retirement funds in a tax efficient manner for preservation until retirement. The member may make a single cash withdrawal from the fund prior to retirement.
It is ideally suited to those individuals who:
- Withdraw from the service of their employer.
- Were members of a pension / provident fund that is wound up or dissolved.
- Wish to enjoy the flexibility of being able to make a single withdrawal from the fund.
Benefits of the preservation funds include:
No tax is payable on transfer from an approved fund and as the total number of years membership to a retirement fund will increase, the tax free lump sum payable at retirement may increase. Any withdrawal prior to retirement is subject to tax. Upon death, the members' full benefit will be paid to their beneficiaries.
SHARI'AH LAW
The Cresent Range is managed in accordance with Shari'ah law,which stipulates that prior to investing in a particular share,essential analysis of a security's core business activity source of revenue,to ensure that these activities are acceptable.
Non-permissible core business activities comprise any association with the following product:
- Alcohol
- Tobacco
- Pork-related products
- Financial services
- Defence/weapons
- Entertainment (pornography, gambling etc)
Once companies with unacceptable core business activities are excluded from the selection process (prior to inclusion in the fund's portfolio), companies with Shari'ah compliant activities are then evaluated according to several financial ratio filters. The filters are based on criteria devised by the Shari'ah Supervisory Board and seek to remove companies with unacceptable levels of debt or interest income.
The financial filters stipulate the following criteria for the exclusion of certain shares:
To determine sources of interest expense, securities with total debt that is greater than or equivalent to a third of the securities' trailing 12- month average market capitalisation, are deemed unacceptable. Securties with total accounts receivable that are greater than or equivalent to 45% of total assets are also excluded from inclusion in the fund's portfolio, investment will not be permitted in companies where the sum of cash and interest-bearing securities is greater than one third of the trailing 12- month average securities' market capitalisation.
Where an investment is made in a security within the above parameters, the amount of impure income is calculated before it is taken from the fund and distributed to charity on behalf of the funds' investors . It is the belief of many Islamic scholars that in doing so, the investment gains that the investor receives are purified.
|
|
