SAQA 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.
SOUTH AFRICAN QUALIFICATIONS AUTHORITY 
REGISTERED UNIT STANDARD THAT HAS PASSED THE END DATE: 

Indicate how collective investment scheme portfolios are reported 
SAQA US ID UNIT STANDARD TITLE
9000  Indicate how collective investment scheme portfolios are reported 
ORIGINATOR
SGB Financial Services 
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  2 
REGISTRATION STATUS REGISTRATION START DATE REGISTRATION END DATE SAQA DECISION NUMBER
Passed the End Date -
Status was "Reregistered" 		 2004-12-02  2007-02-21  SAQA 1657/04 
LAST DATE FOR ENROLMENT LAST DATE FOR ACHIEVEMENT
2008-02-21   2011-02-21  

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 is replaced by: 
US ID Unit Standard Title Pre-2009 NQF Level NQF Level Credits Replacement Status
243141  Indicate how collective investment scheme portfolios are reported  Level 3  NQF Level 03  2   

PURPOSE OF THE UNIT STANDARD 
This Unit Standard provides a broad introduction to the collective investment sector. 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:
  • Describing how the performance of collective investment scheme portfolios is reported.
  • Explaining the pricing of participatory interest in a collective investment scheme portfolio.
  • Using the financial pages of a daily or weekly newspaper to access information on collective investment schemes.
  • Explaining mandatory disclosures required of collective investment schemes. 
    		•

    LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING 
    There is open access to this unit standard. Learners should be competent in Communication, Financial Literacy and Mathematical Literacy at NQF Level 2. 

    UNIT STANDARD RANGE 
    The typical scope of this unit standard is:
  • Concepts relating 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, variation in initial fees and the benefits of the choice of pricing methods to the Collective Investment Scheme Manager
  • Income declarations including 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 such as, 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 refers to retail and institutional categories. 
    		•

    Specific Outcomes and Assessment Criteria: 

    SPECIFIC OUTCOME 1 
    Describe how the performance of unit trusts is reported. 

    ASSESSMENT CRITERIA     

    ASSESSMENT CRITERION 1 
    1. Different ways in which unit trusts are reported are listed with an indication of the frequency of each type of report. 

    ASSESSMENT CRITERION 2 
    2. Details of how a customer can evaluate a fund's performance are explained with reference to current market rates. 

    ASSESSMENT CRITERION 3 
    3. An explanation of how quarterly performance is calculated is given according to historic performance. 

    SPECIFIC OUTCOME 2 
    Explain the pricing of unit trusts. 

    ASSESSMENT CRITERIA     

    ASSESSMENT CRITERION 1 
    1. The formula for calculating the pricing of unit trusts is known and used to explain the unit price. 

    ASSESSMENT CRITERION 2 
    2. Terminology associated with the pricing of unit trusts is understood and used in context. 

    ASSESSMENT CRITERION 3 
    3. The concept of declared income is explained with reference to a case study. 

    ASSESSMENT CRITERION 4 
    4. Details related to income declaration are explained with reference to a selected management company. 

    SPECIFIC OUTCOME 3 
    Use the financial pages of a daily newspaper to research unit trust information. 

    ASSESSMENT CRITERIA     

    ASSESSMENT CRITERION 1 
    1. The basic financial concepts associated with reporting performance are explained in relation to information in a newspaper. 

    ASSESSMENT CRITERION 2 
    2. The classification of unit trusts used in newspapers is compared to the industry classification of unit trusts. 

    ASSESSMENT CRITERION 3 
    3. The concepts of future and historic unit trust prices are explained and compared with reference to a newspaper report. 

    ASSESSMENT CRITERION 4 
    4. The number of units that a specific amount of money will buy is calculated using information from a newspaper. 

    ASSESSMENT CRITERION 5 
    5. The value of a set number of unit trusts on a specific day is calculated using information from a newspaper. 

    SPECIFIC OUTCOME 4 
    Explain health warnings associated with unit trusts. 

    ASSESSMENT CRITERIA     

    ASSESSMENT CRITERION 1 
    1. Health warnings that need to appear on any unit trust marketing or reporting documents are listed in terms of the Unit Trust Control Act. 

    ASSESSMENT CRITERION 2 
    2. Reasons for the different health warnings are explained in terms of customer protection. 

    ASSESSMENT CRITERION 3 
    3. The consequences of failing to publish health warnings are known and explained with reference to the Association Of Unit Trusts (AUT) advertising code. 

    SPECIFIC OUTCOME 5 
    Describe how the performance of collective investment scheme portfolios is reported. 

    ASSESSMENT CRITERIA     

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

    ASSESSMENT CRITERION 2 
    2. Details of how a customer can evaluate a portfolio`s performance are explained with reference to current market rates. 

    ASSESSMENT CRITERION 3 
    3. An explanation of how quarterly performance is calculated is given according to historic performance. 

    SPECIFIC OUTCOME 6 
    Explain the pricing of participatory interest in collective investment scheme portfolios. 

    ASSESSMENT CRITERIA     

    ASSESSMENT CRITERION 1 
    1. The formula for calculating the pricing of participatory interest in a collective investment scheme portfolio is known and used to explain the cost of the investment. 

    ASSESSMENT CRITERION 2 
    2. Terminology associated with the pricing of participatory interest in collective investment scheme portfolios is understood and used in context. 

    ASSESSMENT CRITERION 3 
    3. The concept of income declaration is explained with reference to a case study. 

    ASSESSMENT CRITERION 4 
    4. Details related to income declaration are explained with reference to a selected Collective Investment Scheme Manager. 

    ASSESSMENT CRITERION 5 
    5. The concept of multiple classes is explained with reference to investor category. 

    SPECIFIC OUTCOME 7 
    Use the financial pages of a daily newspaper to access information on CIS portfolios. 
    OUTCOME NOTES 
    CIS: Collective Investment Schemes 

    ASSESSMENT CRITERIA     

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

    ASSESSMENT CRITERION 2 
    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 
    3. The concepts of future and historic pricing methods are explained and compared with reference to a newspaper report. 

    ASSESSMENT CRITERION 4 
    4. The number of participatory interests that a specific amount of money will buy is calculated using information from a newspaper. 

    ASSESSMENT CRITERION 5 
    5. The value of a set number of participatory interests in a collective investment scheme portfolio on a specific day is calculated using information from a newspaper. 

    SPECIFIC OUTCOME 8 
    Explain mandatory disclosures required of a collective investment scheme portfolio. 

    ASSESSMENT CRITERIA     

    ASSESSMENT CRITERION 1 
    1. Mandatory disclosures that need to appear on any collective investment scheme marketing or reporting documents are listed in terms of the Collective Investment Schemes Control Act, 45 of 2002 (CISCA). 

    ASSESSMENT CRITERION 2 
    2. Reasons for the mandatory disclosures are explained in terms of investor protection. 

    ASSESSMENT CRITERION 3 
    3. The consequences of failing to publish mandatory disclosures are explained with reference to the Association of Collective Investments (ACI) advertising code. 


    UNIT STANDARD ACCREDITATION AND MODERATION OPTIONS 
    This unit standard will be internally assessed by the provider and moderated by a moderator registered by INSQA or a relevant accredited ETQA. The mechanisms and requirements for moderation are contained in the document obtainable from INSQA, INSQA framework for assessment and moderation. 

    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 taken 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 

    UNIT STANDARD NOTES 
    This unit standard has been replaced by unit standard 243141, which is ' 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
    Core  20638   National Certificate: Collective Investment Schemes  Level 4  NQF Level 04  Passed the End Date -
    Status was "Registered"     		 2004-12-05  INSETA 
    Elective  48494   National Certificate: Financial Services Management  Level 3  NQF Level 03  Passed the End Date -
    Status was "Reregistered"     		 2012-06-30  INSETA 
    Elective  20177   National Certificate: Insurance  Level 3  NQF Level 03  Passed the End Date -
    Status was "Registered"     		 2004-10-10  Was INSETA until Last Date for Achievement 
    Elective  49649   Further Education and Training Certificate: Long-term Insurance  Level 4  NQF Level 04  Passed the End Date -
    Status was "Reregistered"     		 2023-06-30  INSETA 
    Elective  48493   National Certificate: Financial Services: Wealth Management  Level 4  NQF Level 04  Passed the End Date -
    Status was "Registered"     		 2007-02-11  Was INSETA until Last Date for Achievement 
    Elective  20773   National Certificate: Long Term Insurance  Level 4  NQF Level 04  Passed the End Date -
    Status was "Registered"     		 2004-12-05  INSETA 


    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.
     
    NONE 


    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.