The Old Mutual Gift of the Givers Life Fund
As people become increasingly interconnected, many investors are seeking to invest beyond what directly benefits them and focus on a higher purpose in the ecosystem they live in. At Old Mutual Wealth, we hold this ambition in the highest regard - not only to support a direct need from our investors, but also because we know that business success is integrally linked to the well-being of the countries and communities, we operate in.
The Gift of the Givers Foundation is the largest non-governmental African disaster response organisation delivering life-saving goods and on-the-ground support to innumerable people in almost fifty countries worldwide. Partnering with Old Mutual Wealth, one of the top wealth investment companies in South Africa, has resulted in an investment solution that transcends investments. It aims to build an environment where investments are able to grow and thrive by focusing on disaster relief, hunger alleviation and water provision.
The Old Mutual Gift of the Givers Life Fund is fully invested in the Old Mutual Albaraka Income Fund, an ethical Shari’ah-compliant fund launched in 2020 and the first of its kind in Africa to invest in Islamic bonds (or Sukuk). The fund is managed by Maahir Jakoet and Fawaz Fakier from Old Mutual Investment Group, who also manage the entire Old Mutual Shari’ah range.
The objective of the Old Mutual Albaraka Income Fund is to offer investors an ethical investment while providing relative capital stability over time. Any permissible income earned will not accrue to investors in the life fund, but rather be donated to Gift of the Givers while capital movements will be retained in the life fund. The non-permissible income remains at fund level and is donated to various community causes based on need and regardless of background, race or religion.
The annual total investment charge is 0.519%.
The fund is available through the Old Mutual Wealth Life Wrapped product. Investors can access the fund through the life wrapper on the Old Mutual Wealth digital platform or contact their financial planner.
Investors can invest:
- A lumpsum of R400 000 or a
- Recurring premium of R2500 a month
The Gift of the Givers Foundation was established in 1992 by Dr Imtiaz Sooliman, following a message from his spiritual leader to serve all people of all races, religions, colours, classes, political affiliations and geographical location, unconditionally. He has travelled to some of the most desolate, war-torn, and disaster-struck areas of the world, heading relief missions. Gift of the Givers, responded to the needs of countless people affected by a wide range of natural and man-made disasters. This foundation restores the hope and dignity of the most vulnerable in their time of need, rebuilding prosperous communities and empowering leaders of tomorrow. Dr Sooliman holds nine honorary doctorates and was also awarded The Order of the Baobob in 2019 by the President of South Africa for his excellent contribution through Gift of the Givers to humanitarian aid nationally and internationally.
