Following a successful ballot, the investment policy of certain Mi-Plan IP Inflation Plus funds have changed, effective 24 January 2024.
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- The funds have been renamed.
The funds have been renamed as shown in the table below.Previous name New name Mi-Plan IP Inflation Plus 3 Fund MiPlan IP Balanced Defensive Fund Mi-Plan IP Inflation Plus 5 Fund MiPlan IP Balanced Fund Mi-Plan IP Inflation Plus 7 Fund MiPlan IP Balanced Plus Fund - The investment objectives of the funds have been amended.
The investment objectives of the funds have been amended as shown in the table below.Fund Previous New Mi-Plan IP Inflation Plus 3 Fund The portfolio will follow a conservative investment approach with its primary objective being to obtain a return of at least CPIX Plus 3% per annum over a rolling three-year period. The Fund aims to achieve stable capital appreciation with low volatility. Mi-Plan IP Inflation Plus 5 Fund The portfolio will follow a moderate investment approach with its primary objective being to obtain a return of at least CPIX Plus 5% per annum over a rolling three-year period. The Fund aims to achieve moderate capital appreciation with reasonable volatility. Mi-Plan IP Inflation Plus 7 Fund The portfolio will follow an aggressive investment approach with its primary objective being to obtain a return of at least CPIX Plus 7% per annum over a rolling three-year period. The Fund aims to achieve aggressive capital appreciation with reasonable volatility. - The benchmarks of the funds have changed.
The benchmarks of the funds have changed as highlighted in the below table.Fund Previous New Mi-Plan IP Inflation Plus 3 Fund CPI + 3% South African – Multi Asset – Low Equity sector average Mi-Plan IP Inflation Plus 5 Fund CPI + 5% South African – Multi Asset – Medium Equity sector average Mi-Plan IP Inflation Plus 7 Fund CPI + 7% South African – Multi Asset – High Equity sector average
- The funds have been renamed.
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