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AfricaMoney | June 29, 2017

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Bramer Asset Management’s clients see ray of hope as investment refunded

Bramer Asset Management’s clients see ray of hope as investment refunded

The National Property Fund Ltd informs Bramer Asset Management that clients who invested in particular funds will be reimbursed as from 31 July 2015 onwards, but at a deduction of 15% for investment amounts below Rs 500,000 and 20% for those investing above or equal to Rs 500,000.(Image:leboncoin.nu)

The National Property Fund Ltd released a communiqué which informs eligible investors who have invested below Rs 500,000 in Bramer Property Fun Ltd, Hennessy Capital Ltd, Hennessy Investment Trust/Balanced Growth Fund, Discretionary portfolio Management and Bramer Services Group Ltd that they will be refunded the capital amount invested, after a deduction of 15%, on 31 July 2015.

As for those who have invested above or equal to Rs 500,000, their capital amount will be refunded in five equal installments on 31 July 2016, 31 July 2017, 31 July 2018, 31 July 2019 and 31 July 2020 respectively. However, 20% will be deducted and the investor shall be allotted five debentures representing the amount to be paid on each installment.

Eligible investors – that is, those that are entitled to be refunded – encompass both individuals and charitable organisations. They will have to call at the Head Office of Bramer Asset Management Ltd at Bramer House, or at BAI branches, with the original and photocopy of their national ID/passport, proof of address, bank statement not less than three months old and their original certificates as proof of investment in funds against which they are claiming refund.

Accordingly, financial institutions in whose favour the securities are named, must fill in an application form. Moreover, debentures will not be issued to eligible investors of such securities as have been pledged, as these will be issued to relevant pledge holders.

Finally, investors seeking additional details can call on 403-4100.

 

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