AIM MULTI-ASSET TRUST

Name and Nature of the Fund

AIM Multi-Asset Trust (formerly known as McOttley Unit Trust) is an open-ended Unit Trust that seeks to achieve growth in income and capital. The Fund also aims at providing liquidity and conserving principal.

Investment Objective

The principal objective of the Trust is to generate long term growth by investing in a mix of equities and fixed income instruments.

Fund Type: Open-ended

 Fund Category: Balanced Fund

Inception Date: February, 2014

Fund Manager: Ashfield Investment Managers Limited (“Ashfield” or “AIM”)

 Place of Business: 18 Noi Fetreke Street, West Airport

 Management Fees: 2.50% of the Net Asset Value of the Fund     

 Trustee Fee: 0.65% of the Net Asset Value of the Fund

 Minimum Deposit: GHS 20.00

Investment Policy and Strategy

The Trust is authorized to invest in equities trading on the Ghana Stock Exchange and other regulated exchanges across the world. The scheme is also authorized to invest in fixed income securities such as bills, repos, bonds, notes and fixed deposits from sovereigns and corporates.

The scheme is also authorized to investment in unlisted fixed income and equity instruments.

AIM Multi-Asset Trust’s risk-adjusted performance benefits from combining multiple sources of investment insights within a disciplined risk management framework.

The Fund is targeted at both resident and non-resident investors with passive income and aggressive investment risk appetite whose investment objectives align with the Fund’s strategy.

Permissible Investment /Asset Allocation

The Trust is permitted to invest in fixed income securities, and equities.

The fixed income instruments include:

• Government debt instruments (bonds, notes, bills)
• Corporate debt instruments (bonds, notes, bills)
• Fixed deposits
• Commercial Paper
• Bankers’ Acceptances, and
• Certificates of Deposits

The equity securities comprises:

• Listed equities of companies on regulated stock markets.
• Unlisted equities.

Limitations on Redemption

A Unitholder cannot redeem units in an amount that will leave the holder with less than 200 units. However, a Unitholder is entitled to redeem all or, part of their holdings.

Income/Dividend Distribution Policy

The Trust will not distribute investment income either in the form of cash or units to registered unitholders. All investment income is reinvested in the Trust. Registered Unitholders who wish to withdraw their earnings will have to either sell a part or, all their units.

Front and Exit Load Fees

Limitations on Investment

The Trust is subjected to certain investment limitations and portfolio diversification requirements. The Trust may not:

• Invest more than 10% of its net asset value into any type of real estate other than securities of real estate companies or companies that have engaged in real estate investment activities.
• Invest in commodities, futures, or options.
• Invest more than 25% of the net asset value of the scheme in securities issued by a single issuer.
• Invest more than 10% of the net asset value of the scheme in any class of securities issued by a single issuer.
• Invest more than 10% of the net asset value of the scheme in other collective investment schemes.
• Invest more than 15% of the total net asset value of the scheme in securities not listed or quoted on an authorized stock exchange.

Risk Disclosure

Investing in equities and fixed income securities come with risks. The points below are a few of the reasons the value of the Trust’s assets may be adversely affected:

1. The fiscal, monetary, and economic conditions of the jurisdictions where the scheme’s investments are domiciled. In unfavorable markets conditions, these can cause significant declines in the value of your investments in the scheme.
2. Declines in the prices of equity and fixed income securities on the exchanges where the Trust’s investments are listed will cause the value of the Trust’s investments to decline.
3. Regulatory risk exists where changes in valuation of the Trust’s assets can be occasioned by new regulation and directives.
4. Default risk – Issuers of fixed income securities that the Trust is invested may be unbale to pay their interest and maturity obligations to the Trust. This may cause significant declines to the Trust’s value.
5. Liquidity – Up to 40% of the Trust’s assets are invested in equities, whilst the remaining sleeve of up to 60% of the Trust is invested in fixed income instruments. In bear market conditions where there are more sellers than buyers, the Trust may not be able to sell these instruments for cash. These may cause severe liquidity constraints and lead to the Trust’s inability to honor investor’s redemption requests.

Other Parties to the Fund and their Addresses

Auditor: AssuranceHub Consult

Address: House No. 704/1462, Forest Avenue, George Bush Motorway

GPS: GA-157-6218

Trustee: Universal Merchant Bank (Ghana) Limited

Address:   57, Examination Loop North Ridge, Accra
P.O. Box GP 401 Accra, Ghana

Bankers: Universal Merchant Bank (Ghana) Limited

SSNIT Emporium, Liberation Road, Airport City, Accra. P.O. Box GP 401 Accra, Ghana