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Prospectus Fidelity Balanced Trust

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Prospectus Fidelity Balanced Trust PROSPECTUS FIDELITY BALANCED TRUST (Rules and Regulations of the Unit Trust & the Scheme Particulars) Offer for Subscription Minimum Investment: GH¢100 or 1000 units thereafter in multiples of Manager: Fidelity Securities Limited GH¢10 or 100 units OFFER OPENS: October 1st, 2019 OFFER CLOSES: October 22nd, 2019 Trustee: Guarantee Trust Bank IMPORTANT NOTICE This Prospectus has been seen and approved by us, the Directors of the Issuer, Fidelity Securities Limited, and we collectively and individually accept full responsibility for the accuracy of the information given and that after making all reasonable inquiries and to the best of our knowledge and belief there are no facts; the omission of which would make any statement in the document referred to above, misleading. A copy of the Deed is available for inspection on the Manager’s website and at the Manager’s office located at the first floor of the Ridge Towers, Ambassadorial Enclave, Ridge at all times during usual business hours (subject to such reasonable restrictions as the Managers may impose). The Trust invests in stocks and income oriented securities on behalf of investors. This Prospectus has been reviewed and approved by the Securities and Exchange Commission in accordance with Section (63) of the Securities Industry Act 2016 (Act 929). In its review, the Commission examined the contents of the prospectus to ensure that adequate disclosures have been made. This Prospectus does not constitute an offer or solicitation to anyone in any jurisdiction in which such offer or solicitation is not authorized or to any person to whom it is unlawful to make such offer or solicitation and may only be used in connection with the offering of Units as contemplated herein. All capitalized terms and expressions used in this Prospectus shall, unless the context otherwise requires, have the same meanings ascribed to them in the Deed. To reflect material changes, this Prospectus may be updated, amended, supplemented or replaced from time to time and investors should investigate whether any more recent Prospectus is available. To ascertain the financial soundness or value of the securities on offer, investors are advised to consult a dealer, investment advisor or other professional for appropriate advice. Unit Trusts and securities investments are subject to market risks and there is no assurance or guarantee that the objective of the Trust will be achieved. As with any investment in securities, the Net Asset Value of the units issued under the Trust can go up or down depending on the factors and forces affecting the capital markets. The information contained herein known as the “Prospectus” gives details of the Initial Public Offer (IPO) and a description of Fidelity Balanced Trust (the “Trust”). Units are offered on the basis of information contained in this prospectus and other documents referred to herein. No person has been authorized to give any information or to make any representations, other than those contained in this Prospectus, and if given or made, such other information or representations must not be relied upon as having been authorized by the Trust or the Manager. All enquiries relating to the Trust should be directed to the Managers, Fidelity Securities Ltd. No application has been made to list the units of the Trust on the Ghana Stock Exchange. Anybody wishing to purchase or dispose of units can only do so by placing a request with the Manager or any agent or distributor appointed by the Manager in accordance with the provisions of the Deed. This prospectus should be read in its entirety before making an application for units and should be retained for future reference. 01 TABLE OF CONTENTS DEFINITIONS.............................................................................................................................................................................. 4 THE TRUST................................................................................................................................................................................... 5 THE OFFER................................................................................................................................................................................... 5 PROSPECTUS SUMMARY....................................................................................................................................................... 6 THE FUND MANAGER ............................................................................................................................................................ 8 THE TRUSTEES .......................................................................................................................................................................... .9 1. THE CONSTITUTION AND OBJECTIVES OF THE SCHEME..................................................................................... 10 1.1 Name of the Scheme ...................................................................................................................................................... 10 1.2 Nature of the Scheme .................................................................................................................................................... 10 1.3 Date of Establishment and Duration....................................................................................................................... 10 1.4 Investment Objectives of the Trust.......................................................................................................................... 10 1.5 Fundamental Investment Policy.................................................................................................................................10 1.6 Investment Approach .....................................................................................................................................................11 1.7 Investment in Schemes or Assets managed by the Manager or its Associates....................................11 1.8 Trust Restrictions ............................................................................................................................................................. 12 1.9 Dividend Policy ................................................................................................................................................................. 12 1.10 Borrowing Powers ......................................................................................................................................................... 12 1.11 Maintenance of Prudent Levels of Liquidity ....................................................................................................... 13 1.12 Winding Up of Scheme ................................................................................................................................................ 13 1.13 Accounting Date ............................................................................................................................................................. 14 2. THE CHARACTERISTICS OF INTEREST IN THE TRUST ............................................................................................ 15 2.1 Type of Interests................................................................................................................................................................ 15 2.2 The Units ..............................................................................................................................................................................15 2.3 Description of Units.........................................................................................................................................................15 2.4 Evidence of Units............................................................................................................................................................. 15 3. VALUATION OF PROPERTY, CHARGES, DISTRIBUTION & FEES .......................................................................... 16 3.1 Determination of Net Asset Value ........................................................................................................................... 16 3.2 Dealing Deadline and Pricing Basis..........................................................................................................................16 3.3 How Units are Issued.......................................................................................................................................................17 3.4 Management Fees........................................................................................................................................................... 17 3.5 Trustee’s Fees......................................................................................................................................................................17 3.6 Administration Fees........................................................................................................................................................17 3.7 Other expenses................................................................................................................................................................. 17 4 THE ISSUE AND REDEMPTION OF INTERESTS IN THE TRUST ............................................................................ 18 4.1 Initial Offer of Interests and Minimum Interest ..............................................................................................
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