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FOORD IN BRIEF

TAX FREE TOP-UP

Investors have until the end of the tax year to utilise this year’s annual allowance of R33,000 per taxpayer across all tax free investment (TFI) accounts. Foord offers TFI accounts in the Foord Balanced, Foord Equity and Foord Flexible Funds.

FOORD GLOBAL FUNDS

Foord’s two feeder funds are closed to investment owing to exchange control constraints. We are engaged in a process to migrate these funds to another service provider. Please look out for correspondence on this in the coming months.

South African investors can nevertheless access Foord’s global funds directly by utilising their annual exchange control allowances to purchase US dollars or other hard currencies. 

The single discretionary allowance is a R1 million per calendar year, no-questions-asked facility for the purchase of foreign exchange for any purpose, including investment abroad. Investors should enquire of their banks, acting as Authorised Dealers in foreign exchange, about the process to transfer monies abroad.

Further, every South African in good tax standing and over the age of 18 can apply to transfer up to R10 million per calendar year pursuant to a SARS Tax Compliance Status foreign investment allowance application. This is an online application process available from the SARS eFiling portal. The process involves the provision of a personal balance sheet and documents supporting the proof of monies and source of funds for the intended transfer abroad.

TRANSACT ONLINE

Foord investors can now buy, switch and sell units online using the new secure Investor Online portal. The portal is available on Foord’s website, www.foord.co.za

Most investors were pre-registered to use the facility. If you are not yet registered, please contact unittrusts@foord.co.za. You will need a valid email address and mobile number to activate your account. Please let us know if your contact details have changed or if you have not previously given Foord your mobile number. Investors acting on behalf of trusts or other legal entities can register for view only or full online access by completing a registration form.

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