Electronic Collection Fees
do not charge any fees upon collection of your funds from your nominated Bank
Account, however your bank may charge a debit order fee on your account when we
collect from your nominated Bank Account.
a complex field containing variant risks. This includes but is not limited to
market risk, liquidity risk and credit risk. As an investor you are not
required to make use of a financial advisor but we highly recommend that you
seek the advice of an investment advisor especially if you are not a skilled
investor or if you are investing for the first time. A financial advisor will
assist you in determining your investment goals, risk profile and construct an
investment portfolio in an effort to achieve your financial goals. All
information on third party funds is subject to the correctness of information
provided by other funds’ management companies. While data is correct at the
date of publication, the administrator cannot guarantee its accuracy or
Please note that
the different investments available on the investment platform have different
income characteristics and thus taxability. All Capricorn Unit Trust funds,
formerly Bank Windhoek Unit Trust funds, are managed to provide Namibian
individual investors with maximum after-tax returns. Where applicable,
withholding tax is withheld. Investors should avail themselves to the specific
tax implications when investing in any fund or product available on the Capricorn
investment platform that are specific to their unique position and country of
We wish to
highlight the following; however investors should consult their own tax
advisor(s) before investing:
All Namibian domiciled funds’ distributions are
split between taxable and non-taxable income. The taxable component is subject
to withholding tax at a rate of 10% for private individuals, this rate might be
adjusted in accordance with a double tax treaty between Namibia and your
country of tax residency. For Namibian Investors this is a final tax and no
further tax is payable. No withholding tax is applicable to legal persons who
must include any income distribution in their income tax liability if
applicable. All other distributions from the fund are of a non-taxable nature
in terms of the Income Tax Act.
All South African domiciled funds’ distributions
are provided as foreign interest or foreign dividends. All funds domiciled
outside Namibia is subject to the tax regimes of that country. In South Africa
withholding taxes are deducted on dividends and interest of 15%. This is
however not a final tax and income received through the platform by investors
may be subject to additional Namibian taxation.
Investors are strongly recommended to consult
with their appointed tax advisors before any investment is made.
Please take note
of the following disclosures, which are relevant to investments in unit
trusts/collective investment schemes.
Investments in unit trusts/collective investment
schemes are usually long- to medium-term investments.
The value of a unit trust/ collective investment
scheme may increase or decrease.
The past performance of a fund or portfolio is
not indicative of the future performance of that fund or portfolio.
Unit Trusts/collective investment schemes trade
at ruling prices and may engage in borrowing and script-lending.
The Administrator provides no guarantee or
undertaking of any nature whatsoever regarding the capital or expected return
of any fund or portfolio in which you may choose to invest. The Administrator accepts no liability whatsoever for any loss or
claim resulting from the performance of the investor’s chosen funds, or for any
loss of money that may be suffered as a result of any fund available on the
Investment Platform and selected by the investor.
All information of third party funds is subject
to the correctness of information provided by other funds’ management
companies. While data is thought to be correct at the date of publication, the
administrator cannot and does not guarantee its accuracy or correctness.
Whenever the term “Fund” is used in this
document it refers to either a unit trust portfolio or a collective investment
The total expense ratio includes the standard
annual management fee plus any performance fees or other fees that were
relinquished as a payment of services rendered in the management of the fund.
This is expressed as a percentage of the average value of the fund, and is
provided as a guide. The information is obtained from the management company
managing the specific fund.
Hours and cut-off times
Business hours are generally from 7:30 to 16:30
Monday to Friday.
Cut-off time on Namibian business days for any
investment or withdrawal to be effected for the same day is 11:00.
Cut-off time for amounts in excess of N$5
million is 09:00.
Cut-off time for 3rd party Funds is 09:00.
Cut-off time for securities instructions is
10:00 on Namibian business days.
or withdrawal instruction received after the indicated cut-off times will be
processed on the next business day. However, it may
take up to 5 working days to process any withdrawal, deposit, recurring
withdrawal or recurring deposit instruction. We cannot be held
responsible or liable for any losses you may suffer if we do not receive an
instruction from you before the relevant cut-off time.
Administrator will not be liable to pay any interest to you if the execution of
any transaction or instruction to us is delayed as a result or requirements not
being met or as a result of incorrect deposits or incorrect deposit
Details – Sales & Channel Support Department
or deposits, queries relating to account numbers, balances, statements, debit
orders, cash-flow plans or change of details:
§ Tel: +264 (61) 299 1950
§ Email: email@example.com
specific information regarding the Capricorn Unit Trusts:
§ Tel: +264 (61) 299 1950
§ Email: firstname.lastname@example.org
*These terms and
conditions are subject to change from time to time. Last updated version 30
November 2017. In the event of conflict between the Terms & Conditions
found in this document and those previously made, the Terms & Conditions
above shall take precedence.