Operations & Governance
Our fund administration is outsourced to an independent service
provider, Maitland Fund Services. In addition, we also run an
in-house proprietary system to serve as a check and to reconcile
investment data / information provided by external parties.
Back-up & Disaster Recovery Plan (DRP)
We make regular back-ups of all our data and have an off-site
disaster recovery facility. The DRP ensures that we will be able to
continue operating in the event of a disaster while we re-establish
and set-up permanent offices.
Conflict of Interest
The Conflicts of Interest Policy and Conflict
Management Framework document outlines the conflicts of
interest / conflict management policy adopted by Mergence and its
employees, key individuals and representatives. It should be read
in conjunction with the Financial Advisory and Intermediary
Services (FAIS) Act and regulations made thereunder, specifically
those relating to conflicts of interest. No part of this document
may be reproduced without the written consent of Mergence and its
external compliance officer Compli-Serve (Pty) Ltd.
Financial Advisory and Intermediary Services (FAIS)
Mergence Investment Managers (Pty) Ltd ("Mergence") is an
approved financial services provider in terms of the Financial
Advisory and Intermediary Services Act, No.37 of 2002. Our FSP
number is 16134. We comply with all FAIS regulations, including the
General Code of Conduct.
Complaints Handling Procedure
The Financial Advisory & Intermediary Services Act 2002
("FAIS" deals with complaints in some detail and the recourse
mechanisms available to users of financial products and services.
Specifically section 27(1) deals with the receipt of Complaints,
prescription, jurisdiction and investigation. All licensed
financial service providers (FSP's) will be required to have
systems in place for the purpose of timely and efficient resolution
of complaints within the specified timeframes. Our complaints
handling procedure is documented and can be downloaded by clicking
Global Investment Performance Standards (GIPS)
These standards govern the preparation and presentation of
performance numbers, and although compliance with them is
voluntary, Mergence adopts the standard as it is considered best
practice. We have been verified by auditors for up to 31 August
2009 (our financial year end). A copy of the verification report is
available on request.
Promotion of Access to Information Act
The Promotion of Access to Information Act, No 2 of 2000 was
enacted to give effect to the constitutional right of access to any
information held by any private or public body that is required for
the exercise or protection of any rights. Certain requirements,
however, have to be met for access to any information being
granted. The Act requires that a manual be prepared to assist
people in exercising their right of access to information. The
manual is available in Adobe Acrobat format by clicking here.
Regulation and Compliance
Legal compliance is outsourced to Compli-Serve (Pty) Ltd.
Internally, the Chief Operating Officer is accountable for
compliance, with the assistance of the Risk Manager. They liaise
regularly with Compli-Serve and the Financial Services Board.