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SOUTH AFRICAN QUALIFICATIONS AUTHORITY 
REGISTERED UNIT STANDARD: 

Indicate how collective investment scheme portfolios are reported 
SAQA US ID UNIT STANDARD TITLE
243141  Indicate how collective investment scheme portfolios are reported 
ORIGINATOR
SGB Insurance and Investment 
PRIMARY OR DELEGATED QUALITY ASSURANCE FUNCTIONARY
-  
FIELD SUBFIELD
Field 03 - Business, Commerce and Management Studies Finance, Economics and Accounting 
ABET BAND UNIT STANDARD TYPE PRE-2009 NQF LEVEL NQF LEVEL CREDITS
Undefined  Regular  Level 3  NQF Level 03 
REGISTRATION STATUS REGISTRATION START DATE REGISTRATION END DATE SAQA DECISION NUMBER
Reregistered  2018-07-01  2023-06-30  SAQA 06120/18 
LAST DATE FOR ENROLMENT LAST DATE FOR ACHIEVEMENT
2024-06-30   2027-06-30  

In all of the tables in this document, both the pre-2009 NQF Level and the NQF Level is shown. In the text (purpose statements, qualification rules, etc), any references to NQF Levels are to the pre-2009 levels unless specifically stated otherwise.  

This unit standard replaces: 
US ID Unit Standard Title Pre-2009 NQF Level NQF Level Credits Replacement Status
9000  Indicate how collective investment scheme portfolios are reported  Level 3  NQF Level 03  Complete 

PURPOSE OF THE UNIT STANDARD 
This Unit Standard provides a broad introduction to the collective investment sector and will be useful for Administrators in collective investment scheme managers. It builds on the Unit Standard, Describe collective investment schemes as an investment and the Unit Standard, Outline the structure of the collective investment industry.

The qualifying learner is capable of:
  • Explaining the pricing of participatory interest in a collective investment scheme portfolio.
  • Describing how the performance of collective investment scheme portfolios is reported.
  • Using the financial pages of a daily or weekly newspaper to access information on collective investment schemes.
  • Explaining mandatory disclosures required of a collective investment scheme portfolio. 

  • LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING 
    It is assumed that learners are competent in Communication and Mathematical Literacy at Level 2. 

    UNIT STANDARD RANGE 
    The typical scope of this Unit Standard is:
  • Concepts include, but are not limited to, how the price is compiled, forward pricing, historic pricing, the difference between forward and historic pricing and how initial fees are collected.
  • Fees and commissions associated with multiple classes of collective investments include, but are not limited to, variation in initial fees and the benefits of the choice of pricing methods to the Collective Investment Scheme Manager, asset management fees and performance fees.
  • Income declarations include, but are not limited to, pricing of the participatory interest in the collective investment scheme portfolio, Cum dividend, ex-dividend price, the difference between cum and ex-dividend price, declaration versus payment dates, payment versus reinvestment.
  • Terms used in newspapers include, but are not limited to, daily net asset value (NAV), yield, income distribution, 12 month high, investment sector, portfolio managers, type of portfolio and investment performance over time.
  • Investment categories refer to retail and institutional categories.
  • Reporting to clients may be annual, quarterly, marketing and individual investment statements.
  • The regulatory framework includes, but is not limited to, the Collective Investment Schemes Control Act, 45 of 2002 (CISCA), and the Financial Advisory and Intermediary Services Act (FAIS). 

  • Specific Outcomes and Assessment Criteria: 

    SPECIFIC OUTCOME 1 
    Explain the pricing of participatory interest in collective investment scheme portfolios. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    The formula for calculating the price of participatory interest in a collective investment scheme portfolio is explained with reference to the net asset value and costs of the portfolio. 

    ASSESSMENT CRITERION 2 
    The concepts of income declaration and income distribution are explained with reference to a specific fund. 

    ASSESSMENT CRITERION 3 
    The concept of multiple classes is explained with reference to investor category, price and income declaration. 

    SPECIFIC OUTCOME 2 
    Describe how the performance of collective investment scheme portfolios is reported. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    Different ways in which collective investment scheme portfolios are reported to clients are identified and an indication is given of the frequency of each type of report. 

    ASSESSMENT CRITERION 2 
    The method used to report quarterly performance is explained with reference to The Association of collective Investments (ACI) advertising code and standards for communicating performance. 

    ASSESSMENT CRITERION 3 
    The concepts of future and historic pricing methods are explained with examples. 

    SPECIFIC OUTCOME 3 
    Use the financial pages of a daily newspaper to access information on collective investment scheme portfolios. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    The basic financial concepts associated with reporting performance are explained using a daily newspaper. 

    ASSESSMENT CRITERION 2 
    The classification of collective investment scheme portfolios used in daily newspapers is compared to the industry classification of collective investment scheme portfolios. 

    ASSESSMENT CRITERION 3 
    The number of participatory interests that a specific amount of money will buy and the value of a set number of participatory interests in a collective investment scheme portfolio on a specific day are calculated using information from a newspaper. 

    SPECIFIC OUTCOME 4 
    Explain mandatory disclosures required of a collective investment scheme portfolio. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    Mandatory disclosures that need to appear on collective investment scheme marketing or reporting documents are explained for selected types of advertising and reporting documents in terms of the regulatory framework and the Association of Collective Investments (ACI) codes of practice, standards and guidelines. 

    ASSESSMENT CRITERION 2 
    Reasons for the mandatory disclosures are explained in terms of investor protection and an indication is given of the consequences of failing to publish mandatory disclosures. 


    UNIT STANDARD ACCREDITATION AND MODERATION OPTIONS 
  • Anyone assessing a candidate against this Unit Standard must be registered as an assessor with the relevant ETQA or ETQA where a Memorandum of Understanding (MOU) exists with the relevant ETQA.
  • Any institution offering learning that will enable achievement of this Unit Standard must be accredited as a provider through the relevant ETQA or ETQA where a Memorandum of Understanding (MOU) exists with the relevant ETQA.
  • Moderation of assessment will be overseen by the relevant ETQA according to the moderation guidelines and the agreed ETQA procedures. 

  • UNIT STANDARD ESSENTIAL EMBEDDED KNOWLEDGE 
    N/A 

    UNIT STANDARD DEVELOPMENTAL OUTCOME 
    N/A 

    UNIT STANDARD LINKAGES 
    N/A 


    Critical Cross-field Outcomes (CCFO): 

    UNIT STANDARD CCFO IDENTIFYING 
    Learners can identify and solve problems by using information from a newspaper to calculate the number of participatory interests that may be bought with a specific sum of money. 

    UNIT STANDARD CCFO COLLECTING 
    Learners can collect, organise and evaluate information by using the financial pages of a daily newspaper to research collective investment scheme portfolio information. 

    UNIT STANDARD CCFO COMMUNICATING 
    Learners can communicate effectively using visual, mathematics or language skills when explaining how to evaluate a portfolio's performance with reference to current market rates. 

    UNIT STANDARD ASSESSOR CRITERIA 
    N/A 

    REREGISTRATION HISTORY 
    As per the SAQA Board decision/s at that time, this unit standard was Reregistered in 2012; 2015. 

    UNIT STANDARD NOTES 
    This unit standard replaces unit standard 9000, ' Indicate how collective investment scheme portfolios are reported ', Level 3, 2 credits. 

    QUALIFICATIONS UTILISING THIS UNIT STANDARD: 
      ID QUALIFICATION TITLE PRE-2009 NQF LEVEL NQF LEVEL STATUS END DATE PRIMARY OR DELEGATED QA FUNCTIONARY
    Elective  66613   Further Education and Training Certificate: Wealth Management  Level 4  NQF Level 04  Reregistered  2021-06-30  As per Learning Programmes recorded against this Qual 


    PROVIDERS CURRENTLY ACCREDITED TO OFFER THIS UNIT STANDARD: 
    This information shows the current accreditations (i.e. those not past their accreditation end dates), and is the most complete record available to SAQA as of today. Some Primary or Delegated Quality Assurance Functionaries have a lag in their recording systems for provider accreditation, in turn leading to a lag in notifying SAQA of all the providers that they have accredited to offer qualifications and unit standards, as well as any extensions to accreditation end dates. The relevant Primary or Delegated Quality Assurance Functionary should be notified if a record appears to be missing from here.
     
    1. African Resources & Financial Training (Pty) Ltd 
    2. CKP Development Agency (Pty) Ltd. 
    3. De Vries Management & Training Services cc 
    4. Faisit (Pty) Ltd 
    5. Masifunde Training Centre (Pty) Ltd 
    6. Ray Strodl Consulting (Pty) Ltd 
    7. RJM Educational Consulting (Pty) Ltd 
    8. Sanlam Life Insurance Ltd 



    All qualifications and part qualifications registered on the National Qualifications Framework are public property. Thus the only payment that can be made for them is for service and reproduction. It is illegal to sell this material for profit. If the material is reproduced or quoted, the South African Qualifications Authority (SAQA) should be acknowledged as the source.