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History
UAL, which celebrated its 40th anniversary last year, is the oldest merchant bank in South Africa. The company was formed in 1955 as Union Acceptances Limited by Anglo Amercian Corporation,
with Sir Ernest Oppenheimer as its first chairman.
UAL was later acquired by the Nedcor group but retains a strong sense of independence and a separate identity. From its small beginnings, UAL has grown into a major merchant bank,
spanning the entire financial services sector.
In addition to traditional banking activities on behalf of corporate clients, its services include corporate finance, bond and derivatives trading, public sector finance,
asset and unit trust management, project finance and treasury operations.
With R28 billion of funds under management, UAL is the largest asset manager outside the top four life assurers.
The total amount of funds invested in the six unit trusts under management is R2,5 billion.
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UAL Unit Trusts are a convenient way to invest for the long-term.
To achieve success and satisfaction, investors must choose trusts with objectives that meet their individual needs and at the same time, are reaslistic.
UAL spend the last quarter of 1995 redefining the long-term objectives of each of our unit trusts and restructuring their investments, where appropriate, for the future.
This makes it easier for investors to choose the trusts best suited to their needs, while giving them a greater understanding of the Portfolio Managers' actions and achievements.
ENTRUST US WITH YOUR MONEY
UAL UNIT TRUSTS - A CONVENIENT WAY TO INVEST
If you are a long term investor, unit trusts can be an inexpensive and efficient way for you to achieve your objectives.
Through unit trust you can:
DIVERSIFY YOUR INVESTMENTS:
Diversification, or spreading your risks, is an important way of reducing the impact of unforeseen events affecting single shares or other securities you hold. The portfolio of all UAL equity (share) trusts are well diversified.HAVE THEM PROFESSIONALLY MANAGED
Unit trust portfolios are managed by teams of professionals whose full time jobs are to monitor the securities in which the trust is invested and change them from time to time to meet the trust's investment objectives. At UAL these are the same investment professionals who manage billion rand pension fund portfolios for some of South Africa's largest corporations.HAVE THEM PROPERLY ADMINISTERED
Owning a portfolio of investments involves a lot of detailed administration - settling transactions; registering ownership; collecting and distributing income; dealing with bonus issues; rights issues and take-over bids and keeping proper records. If you invest in a unit trust all this is done for you.
Distributions of income will vary from quarter to quarter, or half year to half year depending of the trust, because income does not accrue evenly throughout the year.
RECEIVE REGULAR, PROFESSIONAL REPORTS
Investors in UAL unit trusts receive an audited Annual Report on the financial performance of their trust and a quarterly report detailing all the underlying investments and summarising the current investment strategy that the Portfolio Managers are implementing.
The performance of unit trusts can be monitored daily by following their prices which are reported in the main newspapers.ACCESS TO YOUR MONEY QUICKLY
Although unit trusts are a long-term investment, you can have quick access to part or all of the capital you have invested in them. To do this, you would sent UAL written notice of the withdrawal you want to make. We make every effort to pay the proceeds to you within a few days.FULLY DISCLOSED FEES
The price at which you buy units in a trust includes a maximum initial charge of 5% and also statutory compulsory charges (brokerage and marketable securities tax which are payable by anyone investing in the stock market).
A service charge of 1% per annum of the trust's market value is deducted from the income of each trustexcept in the UAL Gilt Fund and the UAL Maximum Income Fund, where the service charge is 0.75%.
These are the only fees charged for all the services we have described above.
The values of units are calculated daily and fluctuate depending on the market values of the securities held in the trust's portfolio.
Unit Trust Managers are regulated by the Unit Trusts Control Act (Act 54 of 1981).
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Johannesburg:
Jeff Spiller (011) 630 - 6531
Patricia Fletcher (011) 630 - 6232
Glenda Jones (011) 630 - 6563
Internal Consultants (011) 630 - 6991
Pretoria:
Wayne Parker (012) 343 - 3770
Durban:
Mark Wenning (031) 304 - 3390
Pietermartizburg:
Cornelia Kramer (0331) 42 - 8321
Cape Town:
Paul Hofman (021) 21 - 1520
Port Elizabeth:
Yvonne Killian (041) 33 - 3724
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UAL BLUE CHIP GROWTH FUND
DANA BECKER (B. Comm (Hons) RAU)
Dana joined UAL Merchant Bank in 1987 as an Investment Analyst specialising in Macro Economic and Industrial Research. In 1990 he was appointed as Portfolio Manager with the responsibility for a number of corporate retirement funds. Dana was appointed as Portfolio Manager for the "blue chip" UAL Unit Trust in October 1995 after having been responsible for the UAL Managed Fund since April 1993.
UAL SELECTED OPPORTUNITIES FUND
RICHARD ANDERSON (BA HDPM MBA)
Richard joined Barlows as a trainee and worked at this organisation for four years. He began his investment career at UAL in the Research Division and moved into Information Management in 1987. Richard is the Chief Investment Officer responsible for making and implementing strategic investment decisions for all our clients. Richard is also a committee member of the Investment Analysts' Society.
UAL MANAGED FUND
STEPHEN ROBERTS (BA Honours (Industrial Economics)
Stephen initially trained in the United Kingdom's investment market. He joined UAL Investment Research in 1981. He was appointed senior analyst before embarking on career diversification areas in 1984. Stephen rejoined UAL Investment Division in 1989 and co-ordinated strategy in the Financial and Industrial sectors. He was transferred to Portfolio Management in 1993 and is located in Cape Town.
He is married with three children and enjoys an active involvement in his local church.
UAL MINING AND RESOURCES FUND
STEPHEN ARTHUR (BSc Mining)
Stephen has 7 years experience in the financial markets. After National Service, he began his career with Amcoal as a mining engineering graduate. In 1988 he joined Genbel as a mining analyst. In 1989 he joined a stockbroking firm, Anderson Wilson and then spent 18 months in the US working as a metals commodity consultant in Philadelphia. He joined UAL in 1992.
Stephen is married with 2 children.
His interests include reading, hiking, hunting and squash.
UAL GILT FUND AND UAL MAXIMUM INCOME FUND
BRIAN JAMES (B. Comm) MBA (Columbia University, New York)
Brian has 28 years investment experience. He joined UAL Investment Division in 1966. In 1972 he moved to UAL's corporate Finance Department and in 1976 managed a specialist Property Portfolio within the Nedbank Group. For four years he was responsible for the management of Nedbank's Property Division. He rejoined UAL's Portfolio Management team as a senior manager in 1987.
He was appointed assistant general manager in 1990 and is currently responsible for Gilt and Money Market operations.
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