ASISA Membership
As a unified body mandated by the majority of companies active in South Africa’s savings and investment industry, ASISA is committed to representing its members in discussions and negotiations with regulators, policy makers and other stakeholders such as intermediaries, the media and consumers. It is also our objective to engage pro-actively with these stakeholders on issues of importance to the industry.
In addition, ASISA offers all its members a powerful forum where issues of mutual interest and concern can be raised and solutions found. The structure of ASISA, through its various committees, enables members to engage with each other on an equal footing irrespective of size.
All members are encouraged to tap into ASISA’s legal and technical expertise. Support and guidance is also available on:
- Advertising standards
- Fund approval and FSB registration
- Fund management and compliance with related legislation
- Media liaison
- Registers and statistics
The following categories of membership are available, and aim to also accommodate the membership structures of the previous four associations:
Full and ordinary membership is only available to companies regulated by the FSB that offer savings and investment products and/or manage assets.
AFFILIATE MEMBERS
Qualifying criteria
- Former affiliate members of the ACI can transfer to ASISA with broadly similar rights and obligations, as far as this is practically possible. The annual membership fee is R18 000.
Associate Members
Qualifying criteria
- Foreign Collective Investment Schemes not controlled by a local organization and previously associate members of the ACI. The Chair of ASISA’s Foreign Collective Standing Committee will automatically have a seat on the Marketing and Distribution Board Committee. The annual membership fee is a minimum of R12 000 plus an additional annual amount for every fund registered. This amount will be determined by the ASISA Board annually.
- Outsourced Service Providers and Investor Services Divisions of the custodian banks. The annual membership fee is R110 000 per annum.
Members can nominate representatives to serve on relevant and appropriate board committees, but cannot participate in the election of the Board and Nominations Committee.
FULL MEMBERSHIP
Qualifying criteria
- Assets under management of R5-billion or more.
- Full membership fees must be paid.
Annual membership fee
The greater of the minimum fee, which is R250 000 for multi product providers and R110 000 for single product providers, OR a percentage of the Assets Under Management (AUM) plus a percentage of the Risk Premium Income (RPI). The percentages will be determined by the ASISA Board on an annual basis.
Qualifying criteria for transformation support
- Small black owned/controlled businesses (minimum 51% black owned).
- Assets under management are R1-billion or more.
Annual membership fee
Year 1: 20% of the minimum fee
Year 2: 40% of the minimum fee
Year 3: 60% of the minimum fee
Year 4: 80% of the minimum fee
Year 5: 100% of the minimum fee
Ordinary membership
Qualifying criteria
- Full membership fees must be paid.
- Assets under management of under R5-billion.
- By choice, niche operations interested in participating in selected board committees, but who do not want to participate in electing representatives to the Board and Nominations Committee.
Annual membership fee
The greater of the minimum fee, which is R75 000 for multi product providers and R35 000 for single product providers, OR one third of the percentage applicable to full members on Assets Under Management (AUM) and of Risk Premium Income (RPI). The percentages will be determined by the ASISA Board on an annual basis.
Qualifying criteria for transformation support
- Small black owned/controlled businesses (minimum 51% black owned).
- Assets under management of less than R1-billion.
Annual membership fee
Year 1: 20% of the minimum fee
Year 2: 40% of the minimum fee
Year 3: 60% of the minimum fee
Year 4: 80% of the minimum fee
Year 5: 100% of the minimum fee
