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: 

Outline the structure of the collective investment industry 
SAQA US ID UNIT STANDARD TITLE
8999  Outline the structure of the collective investment industry 
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 
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
243147  Outline the structure of the collective investment industry  Level 3  NQF Level 03  Complete 

PURPOSE OF THE UNIT STANDARD 
This unit standard provides a broad introduction to the collective investment industry. It builds on the unit standard `Describe collective investment schemes`.

The qualifying learner is capable of:
  • Identifying the main elements in the structure of the collective investment industry.
  • Describing the structure of a Collective Investment Schemes Manager.
  • Explaining how the collective investment industry is regulated.
  • Identifying the Act that applies to the collective investment industry. 

  • LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING 
    There is open access to this unit standard. The learner 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:
  • The main elements in the industry include, but are not limited to the Collective Investment Schemes Manager, trustee/custodian and portfolio manager. 

  • Specific Outcomes and Assessment Criteria: 

    SPECIFIC OUTCOME 1 
    Identify the main elements in the structure of the unit trust industry. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    1. The management company, trustee, asset manager are named as the main elements of the industry with examples of each. 

    ASSESSMENT CRITERION 2 
    2. The relationship between the elements is described according to their purpose statement portfolio. 

    ASSESSMENT CRITERION 3 
    3. The purpose of a trust deed is explained and the main provisions of a trust deed are identified with reference to a trust deed for a selected unit trust fund. 

    SPECIFIC OUTCOME 2 
    Describe the structure of a unit trust management company. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    1. The structure of a unit trust management company is illustrated graphically. 

    ASSESSMENT CRITERION 2 
    2. The functions of a unit trust management company are identified with reference to a specific management company. 

    SPECIFIC OUTCOME 3 
    Explain how the unit trust industry is regulated. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    1. The Association of Unit Trusts (AUT) is identified as the industry's representative body and its functions are explained in relation to the regulation of the industry. 

    ASSESSMENT CRITERION 2 
    2. The role and functions of the Financial Services Board are explained as they apply to the unit trust industry. 

    ASSESSMENT CRITERION 3 
    3. Reasons are given to explain why the industry is so highly regulated with examples of the consequences of an unregulated environment. 

    SPECIFIC OUTCOME 4 
    Identify legislation that applies to the unit trust industry. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    1. The Unit Trust Control Act no 54 of 1981, Unit Trust Control Amendment Act no 12 of 1998. And the collective Investment Schemes Bill/Act are named as the legislation that controls the unit trust industry and the main points addressed in the Acts are noted in a mind map. 

    ASSESSMENT CRITERION 2 
    2. The basic regulations are listed that apply to a fund mandate. 

    ASSESSMENT CRITERION 3 
    3. Amendments are identified that have been made to the different legislation in the last two years. 

    ASSESSMENT CRITERION 4 
    4. The manner in which industry regulation protects the investor is understood and explained with reference to unit trusts control requirements, legalities governing unit trusts, minimum cash holdings, limitations on equity, gold weighting, money market limitations, statutory holdings, trustee and management company relationship, all securities registered in the name of the trust, asset swop limitations, regulations relating to pension funds, market capitalisation and derivative exposure. 

    SPECIFIC OUTCOME 5 
    Identify the main elements in the structure of a collective investment scheme. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    1. The Collective Investment Scheme Manager, trustee, custodian and portfolio manager are named as the main elements of the industry with examples of each. 

    ASSESSMENT CRITERION 2 
    2. The relationship between the elements is described according to their purpose. 

    ASSESSMENT CRITERION 3 
    3. The purpose of a deed or document of incorporation is explained and the main provisions of the documents are identified with reference to a deed or document of incorporation for a selected collective investment scheme portfolio. 

    SPECIFIC OUTCOME 6 
    Describe the structure of a Collective Investment Scheme Manager. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    1. The structure of a Collective Investment Scheme Manager is illustrated graphically. 

    ASSESSMENT CRITERION 2 
    2. The functions of a Collective Investment Scheme Manager are identified with reference to a specific Collective Investment Scheme Manager. 

    SPECIFIC OUTCOME 7 
    Explain how the collective investment industry is regulated. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    1. The Association of Collective Investments (ACI) is identified as the industry`s representative body and its functions are explained in relation to the regulation of the industry. 

    ASSESSMENT CRITERION 2 
    2. The role and functions of the Financial Services Board (FSB) are explained as they apply to the collective investment industry. 

    ASSESSMENT CRITERION 3 
    3. Reasons are given to explain why the industry is so highly regulated with examples of the consequences of an unregulated environment. 

    SPECIFIC OUTCOME 8 
    Identify the Act that applies to the collective investment industry. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    1. The Collective Investment Schemes Control Act, 45 of 2002 (CISCA) is named as the legislation that controls the collective investment industry and the main points addressed in the Act are recorded graphically. 

    ASSESSMENT CRITERION 2 
    2. Amendments to the Act are identified and an indication is given of why the change was necessary. 

    ASSESSMENT CRITERION 3 
    3. The purpose of industry regulation is explained with reference to protection of the investor. 


    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 COMMUNICATING 
    Learners can use visual and mathematical communication skills when graphically depicting the structure of a Collective Investment Schemes Manager graphically. 

    UNIT STANDARD CCFO CONTRIBUTING 
    Learners are able to explore a variety of strategies of learning more effectively by using a graphic organiser to depict legislation affecting the collective investment industry. 

    UNIT STANDARD ASSESSOR CRITERIA 
    N/A 

    UNIT STANDARD NOTES 
    This unit standard has been replaced by unit standard 243147, which is ' Outline the structure of the collective investment industry ', 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 


    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.