You need to give us instructions in writing on the relevant forms. These instructions can be given to Discovery Invest by
Copies of the forms are available on the website , http://www.discovery.co.za, or from the Discovery Invest contact centre on 0860 67 5777.
Yes, if you deposit money into Discovery Invest’s bank account for investment lump sums, you must tell us of the deposit to make sure that their money is invested as soon as possible. You will need to give us the reference number of the deposit and the date you made it.
You can make an electronic funds transfer of your lump sum directly into our bank account, or deposit the money using a deposit form. We can also debit your bank account with the amount on your written instruction.
Note: this only applies to lump sum investments and not recurring contributions. Recurring contributions must be debited from the investor’s bank account directly by us, either monthly or yearly. We do not take any responsibility for market movement before we have identified an investor’s money and it has been invested.
Yes, but we can only make these changes when we have the instruction in writing on the correct form. We need your signature to implement the change. You have to hand in debit order changes at least five working days before the debit order takes place. If we do not receive the change request in time, we will only process it the following month.
You must tell us of any processing mistakes within 10 calendar days after handing in any instruction form. We will not be responsible for any damages or loss that may take place after this period.
You, or your financial adviser, must always make sure that any instructions handed in to us by fax, email, mail or any other means have been received and that the instructions are completed correctly. You can do this by contacting the Contact Centre on 0860 67 5777.
An electronic transmission slip or facsimile transmission slip or any other supporting document, will not count as proof of us receiving your instruction. You and your financial adviser have the duty to prove that we have received any instruction, notice or any other communication.
We will not accept instructions from your financial adviser without your signature on the instruction.
The amount we receive will be the amount invested and is shown as the investment amount in any investment document.
If you transfer an investment amount from another Retirement Fund to us, we will not be responsible for any differences between the amount received and the amount shown on the statement from the relevant administrator. The amount we receive will be the amount invested and is shown as the investment amount in any investment document.
We provide a quarterly Fund Statement showing your investment values and all transactions that took place during the previous quarter. You can also get a Fund Statement by contacting our Contact Centre.
We provide all investors in the Retirement Annuity Fund with an Income Tax Certificate showing contributions to the Retirement Annuity Fund for the relevant tax year.
If we cannot continue offering a certain investment option as an investment choice, we will inform you of this and ask for an instruction to select a new investment choice.
If we do not receive instructions for new investment choices, we will invest any new contribution in a money market fund until we receive a revised instruction from the investor. An updated list of investment choices is available on the Discovery website, www.discovery.co.za
We value the investment at the ruling price on the effective date of the transaction. Prices are received and recorded the following business day. The type of transaction does not show which unit price will apply to the investment, but rather the effective date of the investment.
We deduct monthly fees from your investment by selling units that have the same rand value as the fees payable.
Initial fees are subtracted from the investment amount before the amount is invested in the market.
The As and When Investment Integrator only applies to fees subtracted under investments in Discovery Funds. We subtract monthly fees from the investment by selling units that have the same rand value as the fees payable. The fee discount will be calculated based on the amount that is subtracted and will be credited to your investment on the same day that the fee is calculated and deducted. All of the transactions are shown on your Fund Statement.
Note: Please remember that the As and When Investment Integrator is only available on the Endowment Plan.
You choose this benefit at the beginning of the investment. The Upfront Investment Integrator provides you with relief if you experience a large decrease in your asset value as a result of market downturns.
With the Upfront Investment Integrator, 50% of the booster amount growing by 6% per year, will be paid after the first five years of the investment and the remainder plus growth will be paid at the end of 10 years, if your LIFE PLAN is still in force.
All of these transactions are shown on the Discovery Invest Fund Statement.
Unit prices for a specific business day are received and captured on the administration system by 10:00 on the next business day. If a transaction takes place in the market on business day one, the relevant unit prices will be received and confirmed on the morning of business day two from the Management Company. This means that the investment will be priced at the ruling price on business day one, but the price is only captured on business day two by Discovery.
Employees of Discovery Invest are not FAIS accredited financial advisers. Therefore, they are not in a position to give you financial advice. We can, however, provide you with factual information about our products and portfolios.
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