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Improved after-tax performance on discretionary cash
Tax-paying high net worth individuals, trusts and companies traditionally make use of cash funds such as money market or enhanced cash funds for their discretionary cash. These cash funds, however, produce tax inefficient interest, resulting in an increased income tax liability and eroded after-tax performance on cash.
Recognising the need for improved after-tax return on discretionary cash TBI, in partnership with Sanlam, offer tax efficient alternatives. The Sanlam Alternative Income Fund (SAIF) and Sanlam Diversified Income Fund of Funds (SDIFOF) are designed to provide these suitable investors with improved after-tax performance over traditional cash funds, without compromising on risk or liquidity. The funds achieve this by producing mainly dividend (and in the case of SDIFOF, dividend and capital growth) returns, which is significantly more tax efficient than interest.
The Ora Pref Issuer Platform will comprise of a number of insolvency-remote, ring-fenced special purpose investment companies. The objective of each issuer is to issue various classes of Preference Shares and utilise the subscription proceeds in respect of a particular class of Preference Shares to make “Reference Investments”. Each class of Preference Shares will be directly linked to, and have limited recourse to, the nominated Reference Investment made.
Each issuer will be 100% held by TBI Strategic Partners (Pty) Ltd and the issuer’s ordinary shares will be listed on the South African Equity Express Securities Exchange. The investment manager of each issuer will be TBI Investment Managers (Pty) Ltd. The fiduciary services required by each issuer will provided by TMF Corporate Services (South Africa) (Pty) Ltd, which will appoint an independent non-executive director, and as part of its fiduciary services it will provide custodian, company secretarial and administration services and act as transfer agent and payment agent.
The first issuer on the platform is Ora Pref Issuer One (RF) (Pty) Ltd, registered in the Republic of South Africa under number 2022/767242/07.
The second issuer on the platform is Ora Pref Issuer Two (RF) (PTY) Ltd, registered in the Republic of South Africa under number 2023/603098/07.
Corporate Information
The following corporate information of Ora Pref Issuer One (RF) (Pty) Ltd and Ora Pref Issuer Two (FR) (Pty) Ltd is available for inspection at its offices, Office L7-002, The View, 43 Old Oak Road, Tygervalley Health Care Centre, Bellville, 7530 at any time during normal business hours from 08:30 to 17:00 on business days or can be accessed by clicking on this link.
Registration No: 1993/ 005253/07