Attention: MiPlan IP Unit Trust Investors
The MiPlan IP unit trusts are administered by IP Management Company, a registered Collective Investment Manager in terms of CISCA, and the authorised Manager of the Scheme. IP performs administrative functions on the co-branded MiPlan IP unit trusts. In relation to the ballot letter, please find below the background information on some of the changes proposed in the amalgamation letter to clients:
- Change of name from IP to BCI:
- Both IP Management Company (RF) (Pty) Ltd “IPMC”) and Boutique Collective Investments (RF) (Pty) Ltd (“BCI”) are wholly owned subsidiaries of the Apex Group Ltd. Apex decided to merge these two entities to ensure that investors receive a uniform administration and client services experience. It will also allow Apex to provide investors with industry leading CIS investment administration solutions. Therefore, Apex requested IPMC to ballot investors to obtain their approval to amalgamate the IPMC source portfolios into similar BCI target portfolios.
- Benchmark changes:
- Certain portfolio benchmarks have been changed from a composite index benchmark to a peer group benchmark to allow for easier comparison. This change will not affect how the fund is managed.
- Change in distribution dates and / or frequency
- As the funds transfer to the BCI management company, certain funds will have their distribution dates and / or frequencies changed to align with BCI.
- Investment policy changes
- Certain funds’ investment policies have been updated to incorporate latest practice, such as ASISA category limitations, and to align with BCI.
If you do not agree with any of the proposed changes, please ensure that you submit your vote by 11 July 2025, as a lack of response will be considered a vote in favour of the proposed amalgamation.
This summary does not replace the need to review the detailed ballot notification. Please refer to the full ballot document for complete information (link provided below) and contact clientservices@ipmc.co.za with any additional questions.
Ballot Letter: IP to BCI Amalgamation Ballot