INN8’s Legal Information
Terms and conditions for use of our Website
Welcome to the INN8 Website (the “Website”).
The Website is provided to you subject to the following terms and conditions. We may amend these terms and conditions from time to time. You are bound by the version of the terms and conditions published at the time of any visit to the Website. Please read these Terms & Conditions carefully. If you use the Website, you are deemed to have accepted them. Please leave the Website if you do not agree to them.
Other important applicable terms
All references in these Terms & Conditions to “us”, “we”, “our”, “or “STANLIB” are also deemed to include, STANLIB Wealth Management (Pty) Limited and STANLIB Fund Managers Jersey Limited.
“INN8” is a trademark of STANLIB Wealth Management (Pty) Limited (“STANLIB”), an authorised Financial Services Provider (“FSP”), with licence number 26/10/590 and registered office residing at 17 Melrose Boulevard, Melrose Arch, Johannesburg, 2196, South Africa; and of STANLIB Fund Managers Jersey Limited, regulated by the Jersey Financial Services Commission, with registration number 30487 and registered office residing at Standard Bank House, 47-49 La Motte Street, St Helier, Jersey JE2 4SZ.
Disclaimer and limitation of liability:
For details about our disclaimer and limitation of liability, click here.
Our intellectual property
We retain all copyright and other intellectual property rights in all material, including logos, trademarks, designs and other graphics and multimedia works published on or via the Website.
The logos and trademarks displayed on this Website are either our registered trademarks; are in the process of being registered; or belong to third Nothing on this Website should be construed as granting any licence or right to use any trademark without our prior written permission and / or that of third parties, as the case may be. You may not use in any way, including but not limited to copying, reproduction, transmission, distribution, dissemination, sale, publication, broadcast advertising or exploitation of our intellectual property or that of third parties, without our prior written permission.
Irrespective of the existence of copyright, you acknowledge that we are the proprietor of all copyright material, trademarks, logos and design information on the Website, whether it constitutes confidential information or not, and that you have no right, title or interest in any such material.
Nature of information on this Website
All information on this Website is only intended to provide you with general information about us, our products, services and objectives. Nothing on this Website should be treated a solicitation, recommendation, endorsement or as an offer by us but merely as an invitation to do business with us. Any information disclosed on this Website should not be treated as professional, financial, tax, legal, investment or any other advice. You should consult your own professional and appropriately licensed advisers before relying on any information on this Website.
There are risks associated with investing in financial products/markets, which you bear and past performances are not necessarily indicative of future performances. If you act on any of this information, you do so at your own risk.
No needs analysis was conducted by us nor any of its representatives and you understand that there may be limitations on the appropriateness of the information provided. You are solely responsible for determining whether any investment, investment strategy, security, financial product or related transaction is appropriate for you based on your unique investment objectives, financial situation, particular needs and risk tolerance.
We may use the services of other organisations to provide information on the Website. We have no control over this information and make no representations or warranties of any nature as to its accuracy, appropriateness or correctness. You agree that such information is provided “as is” and we will not be directly or indirectly liable for any damages that may arise from your reliance on it. All quotes, news, market information or data shown on the Website by way of live information feeds are delayed unless otherwise stated. You should always select the “refresh” or similar page update function on your Internet browser to ensure that the information you are viewing is the most current.
Links third party Websites
This Website may contain links to other Websites with information and material produced by other parties. While we try to provide links only to reputable Websites, we cannot accept responsibility or liability for the information provided on other Websites. A link from our Website to any other Website does not mean that we have scrutinised or endorsed the owners or administrators of the Websites or their business or security practices and operations. Links to third party Websites are provided only for your convenience and you remain solely responsible for complying with the terms and conditions applicable to such third party Websites.
Permission for hyperlinks, deep linking, crawlers and metatags
No entity may establish a hyperlink, frame, metatag or similar reference, whether electronically or otherwise (collectively referred to as linking), to this Website or any subsidiary pages before receiving our prior written approval, which may be withheld or granted subject to the conditions we specify from time to time.
An application for linking must be submitted to Hello@INN8.co.za. Once received we will do our best to respond and enter into further discussions with you. If you don’t get a written response from us within five business days, consider your request as having been rejected. Breach of these conditions entitles us to take legal action without prior notice to you and you agree to reimburse the costs associated with such legal action to us.
Transmission of information
Information transmitted via an unsecured link over the Internet, including email, is susceptible to potential unlawful access, distortion or monitoring. As we do not have the ability to prevent unlawful activities by unscrupulous persons, you accept that we cannot be held liable for any loss, harm or damage suffered by you as a result. To limit these risks, we may request independent verification of any information transmitted by you via the site or email from time to time.
Termination, suspension and limitation
When we decide to modify, suspend or discontinue the Website, whether temporarily or permanently, we will make all reasonable efforts to electronically notify you. You also acknowledge and accept that we are entitled, from time to time, to modify, suspend or discontinue the Website and that we will not be liable to you for any damage or loss that you may suffer as a result of this. We may also impose limits or conditions on the right to certain services, features or functions and we may restrict access to parts of or all of the services on the Website.
No warranties or representations
We do not warrant that this Website will be error-free or will meet any particular criteria of accuracy, completeness or reliability of information, performance or quality. We expressly disclaim all implied warranties, including, without limitation, security and accuracy.
The Terms and Conditions and content contained on this Website will be interpreted and implemented in accordance with the laws of the Republic of South Africa. Your use of our Website will for all purposes relating to its use, constitute your consent to submit to the non-exclusive jurisdiction of the High Court of South Africa.
STANLIB Wealth Management (Pty) Limited is an authorised Financial Services Provider in terms of the Financial Advisory and Intermediary Services Act 37 of 2002 (Licence No. 26/10/590).
STANLIB Fund Managers Jersey Limited a company incorporated in Jersey (registered number 30487) having its principal place of business at Standard Bank House, 47-49 La Motte Street, St Helier, Jersey, JE2 4SZ.
INN8 is a trademark of STANLIB Wealth Management (Pty) Limited and STANLIB Fund Managers Jersey Limited.
Best Execution Policy
We maintain a best execution policy to help ensure we take reasonable steps to obtain the best possible result when executing orders. All instructions received by us will be dealt with in the order they are received and carried out in accordance with this policy to ensure they are treated in a fair and consistent manner.
We monitor dealing instructions at regular intervals to ensure they are carried out in accordance with the policy. We also review the policy’s effectiveness each year and will let you know if we make any significant changes to it.
When you trade with us, trading will be considered to be your consent to the policy.
These terms and conditions contain further information about the way we handle transactions in the Transactions section.
Acting reasonably, we may delay or suspend the transmission of any trading instruction where an event, act or circumstance outside our reasonable control affects our ability to act on the trading instruction in accordance with the best interests of our clients or in accordance with applicable law and regulation(for example, market disruption).
Our Trading Agents
All instructions for collective investments are sent to BNP Paribas Security Services, with Winterflood handling instructions for exchange traded funds and securities and other investment instruments. We have contracted with these parties to provide trading and settlement services.
Aggregation (please refer to the terms and conditions for an explanation of what aggregation is)
We aggregate deals in collective investments (OEICS, SICAVS, UCITS) and exchange traded funds.
All valid instructions will be aggregated in the same asset class on the same valuation point, for purchase or sale by unit or purchase or sale by value. We do not carry out net dealing.
Where a deal is unable to be placed, it will be carried over to the next available valuation point until it is determined that the deal is unlikely to be placed, at which point the instruction will be cancelled and you will be informed.
Aggregation can generally benefit our clients by:
- Reducing the overall cost of dealing administration
- Sharing dealing fees
- Reducing the overall cost of custody
- Allowing clients to purchase an investment below the investment’s minimum purchase requirements
- Allowing client holdings below the minimum holding requirement
- Disaggregation of a deal may result in a fractional increase in units allocated which might not happen if dealing directly with the fund manager
However, there are circumstances where aggregation may be a disadvantage:
- Additional explicit charges (for example, a dilution levy) might apply
- Delaying part of the deal until a later valuation point
- A levy (for example PTM levy set by the Panel of Takeovers and Mergers) may apply on larger trades
- Disaggregation where a fund manager rounds down may result in a very small decrease in units (typically only worth a few pence)
If any of these circumstances occur, charges will be applied in line with the terms and conditions and assets or proceeds will not be allocated until the whole deal has completed.
When executing an instruction on your behalf, the following factors will be considered:
- Speed of execution
- Likelihood of execution and settlement
- The nature of the order and the investment/instrument being ordered
- Order size
- Any other criteria relevant to the execution of the order
For collective investments, BNP Paribas Security Services will generally route dealing instructions to the appropriate fund manager for execution at the next available valuation point for that particular fund.
Winterflood will generally use price as the primary factor for achieving best execution. They will also use their commercial experience and judgement to determine the relative importance of the above factors in achieving the best possible result.
They have access to a number of execution venues for the purpose of trading, price referencing or trade reporting and are responsible for selecting the appropriate execution venue for any deal. When selecting a venue they consider the price offered, the amount of any commission and other charges incurred by the client, the venue’s ability to manage the order and the reliability of its settlement and clearing features, the creditworthiness of the venue, the speed of execution, the quality of regulation and any other venue characteristics relevant to the execution of the order.
Winterflood’s Trading Arrangements for Different Types of Investment
For orders in UK equities where there is sufficient depth on the relevant exchange order book or the market maker quote size in the relevant market is sufficient they will either reference the volume weighted average price or, in a quote driven market, the order’s price and size to their published quotes on the relevant execution venues. In the event of a backwardation on the market, they will reference their house price.
For orders in European equities, they will reference its price to the home market price and where possible, the relevant multi-lateral trading facility order book. Where orders involve elements like home market or non-standard settlement and/or foreign exchange, they will be reflected accordingly.
For orders in US equities, they will reference its price to the home market price where possible. Where orders involve elements like home market or non-standard settlement and/or foreign exchange, they will be reflected accordingly.
Depending on the time an order is placed, there may not be a home market price to reference to. Such periods will be classed as out of hours trading and their house price will be used.
For small orders in bonds and gilts, Winterflood will use automated execution technology to source the best price from a range of dealers. Larger orders may have to be dealt with manually to identify current traders in the security. If liquidity is available and a price comparison made for the size of trade concerned, they will route the order to the counterparty which gives the most competitive overall pricing.
Address and contact details:
We have the following offices situated in South Africa & Jersey: