Global EquityShare Portfolio

Navigate by Glacier International

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Investing with Glacier International

What are your needs?

About Navigate

Navigate Global Equity Share Portfolio

Why invest in a managed share portfolio?

Sanlam Private Investments (UK) Ltd

Investment approach

Investment principles

Valuations

Risks | Minimums | Fees

Contact details

Glacier International is a specialist division within

Glacier by Sanlam which provides South African

investors with direct international investment

opportunities designed and structured around their

needs. There is a wide range of investment choices

across a number of foreign currencies, and investments

can also be structured to provide estate planning

advantages and tax efficiencies, coupled with high

levels of liquidity (access to your investments) and

consolidated reporting.

Glacier International is a division of Glacier Financial

Solutions (Pty) Limited, a wholly-owned subsidiary of

Sanlam Life Limited, and a licensed Financial Services

Provider in South Africa.

Investing with Glacier International

4You understand what the benefits of investing

internationally are: the valuations of international

companies relative to those in South Africa, the

opportunity to invest in companies not available in

South Africa, and especially portfolio diversification

and hedging against currency depreciation and

political and economic risk.

The world of international investments can, however,

be a daunting one – one of too many investment

choices, unfamiliar fund managers and unfamiliar

investment procedures.

What you are looking for, is some help to navigate the

options that you face.

What are your needs?

A highly-guided list of investment choices to help

simplify international investments: actively-managed

funds selected from local and international companies

with strong histories and performance records, and a

global equity share portfolio of leading companies.

Investment options in the Navigate range are grouped

together in Cautious Growth, Moderate Growth and

Global Equity profiles, to assist selection of the most

appropriate options for a client.

The Global Equity profile includes a discretionary

(managed) global equity share portfolio for clients

who prefer to invest in global companies directly,

About Navigate

6Invest directly into some of the world’s leading

companies through the Navigate Global Equity

Share Portfolio, a focused and managed portfolio of

individually held stocks.

The portfolio focuses on companies only, and invests

in 20 – 25 shares. It does not hold any other asset

classes, such as bonds, cash or property.

Glacier International has selected Sanlam Private

Investments (UK) to manage the Navigate portfolio of

global shares. They will be responsible for making all

day-to-day investment decisions.

Navigate Global Equity Share Portfolio

The complex nature of the current global investment

environment makes it increasingly important for

investment managers to respond to changes quickly.

Managed portfolios benefit from the on-going attention

of a senior and experienced investment manager. This

manager makes the most of opportunities as they

arise, instead of making changes only at a given review

date, when market conditions may be less favourable.

Allowing an investment manager to manage your

portfolio will not result in unnecessarily high levels

of dealing activity; an experienced manager will

recognise when taking no action would be the most

appropriate thing to do.

Why invest in a managed share portfolio?

8Sanlam Private Investments (UK) Ltd is a private

client investment management specialist with offices

in Bath, Harrogate, Kirkby Lonsdale, London, Marlow,

Newcastle and Sevenoaks.

They are a trusted financial services firm, with an

excellent reputation for administration and compliance,

working to provide the highest standard of service to

all their clients.

Sanlam Private Investments (UK) Ltd

Kirkby Lonsdale

Newcastle

Harrogate

MarlowBathLondonSevenoaks

Sanlam Private Investments (UK) manages

investments actively. They invest with confidence,

backed by thorough and disciplined research and a

sensible approach to risk control. They seek to add

real value to clients in a world of low returns combined

with episodes of volatility.

They believe that markets continually offer

opportunities of which investors can take advantage.

Because markets are driven as much by human

emotion as they are by logic, assets can become

incorrectly priced – presenting good investment

opportunities.

They are driven to find quality investments with a good

management track record, good cash generation,

positive shareholder focus, balance sheet strength,

predictable growth, capital security and the ability to

provide dependable returns.

Investment approach

10Investment principles

Portfolio construction is focused on four

strategies:

• Avoid value traps, but buy good quality

businesses at a fair price

• Keep good quality businesses for the long term

• Don’t overtrade the portfolio, to minimise

transaction costs

• Concentrate on 20 - 25 shares

These investment principles should deliver a

portfolio that consists of high quality businesses

with the potential to grow profits faster over time

than the market. Typically, these will include

companies focusing on long-term growth

industries, such as healthcare, technology

(including media and software) and consumer

goods.

Your portfolio will be invested in carefully

selected businesses with at least one of the

following:

• A strong balance sheet (strong financial

position)

• A high cash return on assets

• Relatively low capital requirements, allowing the

business to generate cash while growing

• High market share in their principal product or

service lines

• Consumer goods bought frequently that stay in

demand for a long time

Your portfolio will own businesses with

management teams that:

• Buy back stock

• Maintain high returns on capital

• Make acquisitions to ensure above-average

long-term growth

We aim to provide you with all the information you

need to monitor your investment, while involving

you in a minimum amount of administration.

Half-yearly valuation reports showing the

progress of your investments will be sent within

25 days of the end of the period.

As part of our administration service, we

collect all dividends and interest payments

due to the portfolio. There is no need for you

to retain individual dividend statements for

tax purposes. We also deal with any corporate

actions (such as takeovers and reorganisations)

of the companies in which you hold shares, and

exercise conversions, subscriptions and voting

on your behalf.

SPI’s online valuation service will be made

available to you, enabling you to view your

investment portfolio on a daily basis. This service

will also be available to your intermediary.

Valuations

12Risks | Minimums | Fees

Risks

Financial markets fluctuate daily and

investments in direct equities are linked to the

markets. The performance of the investment

can therefore not be guaranteed, as markets

may go through periods of volatility and are

unpredictable by nature. This means that there

is a possibility that you may lose capital.

Minimum Investment Amount

The minimum investment amount for this share

portfolio is USD150,000.

Fees

The annual investment management fee is 1.2%

(excluding VAT).

The administration fee for Navigate by Glacier

International is 0.3%.

A full schedule of fees is available on request.

Contact details

This brochure is intended for use by clients, alongside

their intermediaries.

For more information, please speak to your

financial intermediary, visit our website at

www.glacierinternational.com or contact our

Communication Centre on:

Tel: +27 21 917 9002

Fax: +27 21 947 9210

Email: clientservices@glacierinternational.co.za

© 2014 Glacier Financial Solutions (Pty) Ltd, A member of the Sanlam GroupReg No 1999/025360/07 Licensed Financial Services ProviderTel: +27 21 917-9002 | Fax: +27 21 947 9210 | clientservices@glacierinternational.co.za