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Investment Principles

Industry Screening – Companies whose core activities include the following are not permissible:

  • Conventional financial institutions, which are interest based, including banks, insurance companies, brokerage and finance houses, leasing companies.
  • The manufacturing, packing and distribution or sale of non-Halaal food and beverages, particularly pork and alcoholic or other intoxicating products, restaurants and supermarkets are also analyzed.
  • Entertainment including cinemas, hotels, pornography, adult entertainment, publications and music, and the production or distribution or sale of such entertainment, such as television channels and radio stations.
  • The manufacturing and sale of weapons or military equipment.
  • Any business though not directly engaged in the above, derives greater than 5% of its income from the above.

Financial Screening – Specific financial parameters are applied to eliminate companies that have high:

  • Total debt
  • Cash plus interest bearing activies
  • Interest and other non-permissible income

Structure

  • A JSE-housed BDA account is utilized to hold the client’s assets
  • Purification of Non-Permissible Income is performed monthly
  • On-going investment analysis
  • Personalised, monthly reporting, incorporating Market Commentary, and selected Shares Commentary

Tax Implications

  • Capital Gains Tax applies to sale of assets

Offshore Investing Implications

  • R1 million per person discretionary allowance, per calendar year, without SARS Tax clearance certificate
  • R10 million per person Investment allowance, per calendar year, with SARS Tax clearance certificate
  • Asset Swap with financial institution

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