Terms and Conditions
- Authorizations and Appointment
- Nabo Capital is engaged in the business of providing investment advisory and fund management services, and is licensed as a Fund Manager by the Capital Markets Authority of the Republic of Kenya (“CMA”) pursuant to the provisions of the Capital Markets Authority Act.
- The unit holder has agreed to retain Nabo Capital to provide him/her with investment advisory services in respect of such investments, that he/she may hereafter require to be managed. The management of the account shall be subject to the Terms and Conditions set forth below.
- Authorizations and Appointment
- The unit holder authorizes and appoints the Fund Manager to exercise the investment discretion described above with respect to the account.
- Duration and Termination
- This Agreement shall remain in full force, until the end of the investment period.
- Fees and Minimums
- Share Class Summary Minimum initial investment amounts, minimum subsequent investment amounts and minimum holding amounts per Units Class are listed below and are in USD or equivalent amounts in alternative currencies:
- Equity Fund Fees Schedule
FUND (ACCOUNT NAME) Initial Charge Annual Management Fees Redemption Charge Nabo Capital Africa Equity A 1.00% 2.00% Nil Nabo Capital Africa Equity b 1.25% 2.25% 0.25% Nabo Capital Africa Equity c 1.50% 2.50% 0.25% Nabo Capital Africa Equity d 2.00% 2.75% 0.25%
- Balanced Fund Fees Schedule
Applicable Units Classes Performance Fee Performance Fee Hurdle Rate All 15% 15%
- Nabo Africa Fixed Income Fund Fees Schedule: - *** No performance fees apply
FUND (ACCOUNT NAME) Initial Charge Annual Management Fees Redemption Charge Nabo Capital Africa Bond Fund A 1.00% 2.00% Nil Nabo Capital Africa Bond Fund B 1.25% 2.25% 0.25% Nabo Capital Africa Bond Fund C 1.50% 2.50% 0.25% Nabo Capital Africa Bond Fund D 2.00% 2.75% 0.25%
- KES Fixed Income Fund Fees Schedule - *** No performance fees apply
FUND (ACCOUNT NAME) Initial Charge Annual Management Fees Redemption Charge Nabo Kenya Shilling Fixed Income Fund A 1.00% 1.500% Nil Nabo Kenya Shilling Fixed Income Fund B 1.25% 1.75% 0.25% Nabo Kenya Shilling Fixed Income Fund C 1.50% 2.00% 0.25% Nabo Kenya Shilling Fixed Income Fund D 2.00% 2.25% 0.25%
- KES Money Market Fund Fees Schedule - ***No performance fees apply
FUND (ACCOUNT NAME) Initial Charge Annual Management Fees Redemption Charge Nabo Capital KES Money Market Fund A Nil 1.50% Nil Nabo Capital KES Money Market Fund B Nil 1.75% Nil Nabo Capital KES Money Market Fund C Nil 2.00% Nil Nabo Capital KES Money Market Fund D Nil 2.25% Nil
- USD Money Market Fund Fees Schedule - ***No performance fees apply
FUND (ACCOUNT NAME) Initial Charge Annual Management Fees Redemption Charge Nabo Capital US Dollar Money Market Fund A Nil 0.90% Nil Nabo Capital US Dollar Money Market Fund B Nil 1.00% Nil Nabo Capital US Dollar Money Market Fund C Nil 1.10% Nil Nabo Capital US Dollar Money Market Fund D Nil 1.20% Nil Units Class Minimum Initial Subscription Amount Minimum Subsequent Subscription Amount Minimum Holding Amount A > usd 1,000,000 usd 10,000 usd 1,000,000 b USD 500,001 – 1,000,000 usd 10,000 usd 500,000 c USD 250,001 – 500,000 usd 5,000 usd 250,000 d USD 10,000 – 250,000 usd 1,000 usd 10,000
- Instructions and Communications
- The Fund Manager shall use brokers to perform administrative, dealing and ancillary services enabling the Fund Manager to perform fund management services.
- Use of Agents
- Any instructions or communications to be given to Nabo Capital shall be in writing. Any instructions from a unit holder to Nabo Capital shall be conclusively deemed to be valid instructions for the purposes of this agreement. The unit holder shall be bound by such Instructions, if acted upon by Nabo in good faith, notwithstanding any error in the transmission thereof or that such Instructions may not be genuine.
- Assignments and Power to Delegate
- The Fund Manager may on written notice assign all its rights, responsibilities and obligations under this agreement to an affiliate as it deems necessary from time to time.
- This agreement has been duly authorized, executed and delivered by the Fund Manager and constitutes its valid and binding obligation, enforceable against the Fund Manager in accordance with its terms.
- No governmental authorization, approval, consents or filings are required about execution, delivery or performance of this agreement by the Fund Manager, other than those already obtained; and the Fund Manager is licensed by the Capital Markets Authority.
- The unit holder acknowledges and agrees that all information and advice furnished by either party to this agreement to the other shall be treated as confidential and shall not be disclosed to third parties except with the prior written consent of the other party or as otherwise required by the applicable law. This requirement for confidentiality shall survive the termination of this agreement.
- The Fund Manager shall act in good faith and with due diligence except for liability arising due to gross negligence. The Fund Manager shall not be liable to the unit holder or be deemed to be in breach of its warranties or obligations under any provision in this agreement: a) for any delay in performing or failure to perform any part of its services under this agreement to the extent that such delay or failure was due to a failure by the unit holder to perform his/her obligations under this agreement or if the delay results from a failure by the unit holder to comply with requests by the Fund Manager for instructions, information or action required by him/her to perform its obligations under this agreement; b) If the event is one of force majeure preventing the Fund Manager from performing any of its functions under this agreement; c) The Fund Manager, its partners, employees and agents will not be liable to the unit holder or to any third party for any consequential or punitive loss or damages; The unit holder indemnifies the Fund Manager from and against any loss, damages, costs, expenses and liabilities which the Fund Manager may suffer or incur, in respect of any taxes or duties, because of or about any claim or action arising out of the actions or omissions of the unit holder providing the fund management services herein.
- No Waiver of Rights
- The failure to exercise or delay in exercising a right or remedy provided by this agreement or by law does not constitute a waiver of the right or remedy or a waiver of other rights or remedies. No single or partial exercise of a right or remedy provided by this agreement or by law prevents the further exercise of the right or remedy or the exercise of another right or remedy. The rights and remedies provided by this agreement are cumulative and not exclusive of any rights or remedies provided by law.
- Any notice or communication under or about this agreement shall be in writing and shall be communicated vie email or sent by post.
- Governing Law
- The construction, validity and performance of this agreement shall be governed in all respects by Kenyan law.