Investments Expert - Muhsin Jeena

question

Posted by: Shirley Laurence | 2013-07-24 13:50

Do I need SARS permission?

If I get out of the SA stock market - do I need SARS permission to invest abroad?

expert answer

Posted by: Muhsin Jeena | 2013-07-25 14:26

Yes and No. If you invest in a rand denominated fund (e.g. Element Global Equity Fund) then you would not need to obtain SARB approval because you would be using their Unit Trust (Mancos) foreign capacity.

However, if you invested in a dollar denominated fund then you would need to obtain SARB approval.

The Element Global Equity Fund has performed exceptionally well, earning its investors a return of 46.7% over the past 12 months. For more info please visit www.elementim.co.za.

 

 

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