Collective Investment Schemes in Securities (Unit trusts) are generally medium to long-term investments. The value of participatory interests (units) may go down as well as up and past performance is not necessarily a guide to the future. Fluctuations or movements in exchange rates may cause the value of underlying international investments to go up or down. Unit trusts are traded at ruling prices and can engage in scrip lending. The manager may borrow up to 10% of the market value of the portfolio where insufficient liquidity exists. A schedule of fees and charges and maximum commission is available from the company/scheme. Commission and incentives may be paid and if so, would be included in the overall costs. Forward pricing is used and fund valuations take place at 11pm Guernsey time on the first business day of each week. A prospectus is available on request from RE:CM Collective Investments (Pty) Ltd or may be downloaded from the website. The RE:CM Global Fund is regulated in Guernsey.