The issue price is the buying price (which is inclusive of the entry fee) while the redemption price is the selling price (or NAV).
Normally, the shareholder will receive the proceeds of his redemptions within 10 working days following the trading day.
The shareholder may opt to receive an account payee cheque only or the redemption payment may be credited to the bank account.
Payment should be made by cheque or direct debit in Mauritian Rupees (cash is not acceptable). The investment made by cheque will be considered as valid when the cheque has been credited and cleared in our bank account.
All investors should complete an Application Form. The Application Form may be obtained from the Fund Manager (IPRO Fund Management Ltd, 3rd Floor, Ebène Skies, Rue de L'Institut, Ebène). The investor will then have to submit the duly completed form with other application document at the Fund Manager's office.
The application requires that the investor provides the following documents:
Individuals:
- Certified true copy of the National Identity Card
- Certified true copy of a Utility Bill / Bank Statement (not older than 3 months)
Corporate Organisations:
- Certified true copy of the certificate of incorporation
- Certified copy of the memorandum and articles/constitution of association
- Documents certifying the identity of at least two directors
- Documents certifying the details of the registered office and place of business
Note 1: Original documents can be certified by officers upon presentation of the original.
Note 2: Proof of source of funds may be required for large investments.
The investor may opt for a lump Sum investment (min. of Rs. 5,000), or a Systematic Investment Plan (min. of Rs. 1,000). Once you have decided on the amount you wish to invest, you need to proceed with application procedures.
Yes, there is an entry fee of 2% applicable.
The fund is traded on a weekly basis (normally the official NAV is calculated following the local stock market trading session of the third business day). Trading day is one day after the valuation day and shares are issued at the issue price prevailing on the valuation day (3rd business day of the week). The cut-off time for receipt of completed application for investment is Monday 5 p.m. Indicative prices as well as official prices appear daily on the company’s website: http://www.igfdirect.mu and on the Stock Exchange of Mauritius (SEM) website.
An investor who has a long-term view of investment and is therefore willing to accept short-term fluctuations in the value of his/her capital. As such, this type of investment is suitable for:
- Investors looking for income and capital growth and are willing to tolerate a limited amount of risk.
- Investors looking for professional management of a portfolio of securities in an economical and conveniently packaged form.
- Small investors seeking cost effective access to overseas markets.
- Long-term investors looking for higher return and greater flexibility than bank deposits or insurance products.
No, there is no minimum specified time period to remain within the fund but it is suitable for someone with a long-term investment horizon (5 years or more).
No. Capital gains tax is not applicable in Mauritius. Thus, any excess between the initial investment in IGF and the sales proceeds is not taxable.
Yes, this possibility is available through our monthly savings plan (Systematic Investment Plan, SIP). This is very smart and affordable way of investing for the future.
It is a financial intermediary allowing investors to pool money together with a common investment objective; there are no restrictions on amount of shares issued.