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JSE BIPINF
BIPS
BIPINF - Bips Government Inflation Linked Bond Fund - Change in management fee
structure
Bips Government Inflation Linked Bond Fund
A portfolio in the Bips Collective Investment Scheme ("the portfolio")
registered in terms of the Collective Investment Schemes Control Act, 45 of 2002
Share Code: BIPINF ISIN: ZAE000134185
("Bips Inflation-X")
CHANGE IN MANAGEMENT FEE STRUCTURE
Holders of Bips Government Inflation Linked Bond Fund ("Bips Inflation-X")
securities are hereby notified of the change to the management fee structure
with effect from 1 October 2010.
The existing management fee structure is on a sliding scale related to the Rand
value of funds invested by an individual investor in Bips Inflation-X, as shown
below:
Investment Size (ZAR) Management Fee Levied (% per annum excluding VAT)
< R 1 000 000 0.39
R1 000 000 - R10 000 000 0.35
R10 000 000 - R50 000 000 0.29
R50 000 000 - R100 000 000 0.19
> R100 000 000 0.10
The new management fee structure will be simplified resulting in only two fee
categories, namely fees charged to those investors who invest less than an
amount of R30 000 000 and a differential fee for those investors that invest
more than R30 000 000. The new sliding scale management fee structure effective
1 October 2010 is as follows:
Investment Size (ZAR) Management Fee Levied (% per annum excluding VAT)
R0 - R30 000 000 0.36
> R30 000 000 0.15
Note:
The above fee structure constitutes a sliding fee, therefore investors investing
in excess of R30 000 000 will still be charged 0.36% on the initial R30 000 000
(or less) invested.
Pursuant to the change in management fee structure, investors who qualify for a
management fee lower than 0.36% will be entitled to a discount from Bips
Investment Managers (Pty) Limited ("Bips ManCo"). This discount is in relation
to the 0.36% management fee charged by Bips ManCo to Bips Inflation-X and will
be implemented via a separate payment (credit note) to such investors by Bips
ManCo into the investors` respective CSDP accounts.
All investors will be subject to the same fee structure as communicated, save
for the seed capital provided to the fund at inception, which is governed by a
separate seed capital agreement.
Further information on Bips ETF is available on www.bipsetf.co.za.
15 June 2010
Johannesburg
Sponsor: Bridge Capital Advisors (Pty) Limited
Date: 15/06/2010 12:00:02 Produced by the JSE SENS Department.
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