UCTRF AGM Financial Highlights 2005

1
UCTRF AGM Financial Highlights 2005

• Statement of net assets and funds
• Assets over R1 billion (R1059 m)
• 30 increase
• Reserves at R107 million (10)
• Members accounts (savings) R923 million

2
UCTRF AGM Financial Highlights 2005

• Statement of changes in net assets and funds
• Contributions R94 m.
• 12 increase
• Investment return R199 m.
• 78 increase
• Transfers and other R3 m.
• Benefits paid (R49 m)
• R247 m.

3
UCTRF AGM Financial Highlights 2005

• Return on assets by portfolio
• Income 7,1
• Smoothed bonus 17,4
• Market 30,4
• By fund manager

4
UCTRF AGM Financial Highlights 2005

• Costs of investment management
• Market fund 0,9 equities, 0,25 bonds
• Smoothed bonus fund 0,6 plus 1 capital
  guarantee
• Income fund 0,2
• Return on average assets 25

5
Contributions
6
UCTRF AGM Financial Highlights 2005

• Sanlam admin fee reduced
• Unallocated income R2,6 million in general
  reserve
• Rejection of surplus apportionment by FSB

7
Surplus apportionment

• Second revised scheme submitted to FSB timeously
• Rejected
• Third revised scheme submitted and awaiting
  consideration
• Details on the website

8
Insured benefits

• Death benefit of 7 times DPA (16)
• To maintain DPA level of income, need to achieve
  1/7 14 return
• Consider your familys needs and plan accordingly
• Remember DPA is not salary!

9
Communications

• Website updated
• UCTRF Home
• Member choice road shows
• Retirement seminars
• Updated nominee forms 65 response

10
Trustees

• Trustees receive no reward from the fund in cash
  or kind
• Any gift from external service providers is
  governed by the code of conduct accepted by every
  trustee
• May not accept gifts for favourable treatment
• Max occasional gift R500
• All gifts disclosed to chairperson