An introductory course to collective investment schemes
Chapter 1 – Introduction to collective investment schemes
This chapter introduces the basic concepts of collective investments and provides a broad introduction to collective investment schemes.
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Chapter 2 – Collective investment managers
To understand how the collective investment schemes industry operates it is important to understand what a Manager does and how it operates
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Chapter 3 – Indicate how collective investment schemes are reported
This chapter focuses on the pricing of collective investment schemes and the various elements that influence its performance
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Chapter 4 – Legislation Acts
Financial Services Intermediaries now operate in a more regulated industry after anti-money laundering legislation, and an act governing the advisory industry’s professionalism were passed by parliament in 2002/2003. The Financial Advisory and Intermediary Services Act (FAIS) was passed by Parliament in 2002. For financial advisers and intermediaries, this promises the fostering of good business ethics. The client’s relationship with a broker will also be affected by the Financial Intelligence Centre Act (FICA), a legislation established to combat money laundering. It requires all advisers and bank employees to “know their clients” and keep records of all their business dealings.
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Chapter 5 – Introduction of Capital Gains Tax and Legislation
On 1 October 2001, Capital Gains Tax (CGT) was implemented in South Africa. Up until this date capital gains have not been taxable in South Africa, only income as defined in the Income Tax Act, 1962. To give affect to the proposals relating to CGT, an Eighth Schedule has been added to the Income Tax Act, which determines what constitutes a taxable gain or assessed capital loss. A new section, 26(a), of the Act provides for the inclusion of a taxable gain in taxable income. Gains or losses are therefore not treated in terms of a separate taxation mechanism, but included in the existing income tax mechanism as set out in the Eighth Schedule.
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