Independent oversight & transparency
Our business is monitored by persons and bodies who are skilled, experienced, honest and independent
The ongoing industry turbulence highlights the need for effective independent review structures, to safeguard the assets and interests of investors. At 10X Investments, we view these structures as the security system that protects your asset.
We are regulated by the Financial Services Board. 10X Investments is a licensed financial services provider and is permitted to offer advice and discretionary investment management. We are also licensed to administer and manage retirement benefits and investments.
The board of trustees is controlled by independent trustees
The 10X Funds are one of the few umbrella retirement funds to be controlled by independent trustees. The funds have an independent chairman, Mr Jonathan Mort, who is a past chairman of the Pension Fund Lawyers Association and a director of Edward Nathan Sonnenbergs. Professor Caspar Greeff, former Head of the Actuarial Departments of the University of the Witwatersrand and Stellenbosch University is also an independent trustee. The Board of Trustees has appointed a highly skilled and experienced, but above all, independent principal officer to oversee the retirement funds' daily operations. The typical industry practice is for the service provider to control the Board of Trustees. There is ample evidence however that this structure places service providers' interests above members' interests.
Transparency empowers members - We say what we do and do what we say!
Proper governance is on the one hand highly complex but on the other very straight forward. Beyond the checks and balances integrated into our business process, it entails, at its most basic, complete transparency. This is why we fully disclose our practices and policies, and provide you, the actual owner of the investment, full insight into every aspect of your retirement plan, so that you can see for yourself that we fully comply with those practices and policies.
Our independent trustees
Jonathan Mort (Independent Chairman)
Jonathan has 25 years of experience. After obtaining the Law Society prize for top marks in the Attorneys Admission exam, he joined a Cape law firm and became a director in 1987. From 1988 until 2002, he headed its Private Client department and developed specialist trust expertise. After joining Edward Nathan in 2003 in its Employee Benefits department, he established its Cape Town employee benefits practice, which rapidly came to dominate its area of practice in Cape Town. He now has clients spread throughout South Africa, limited solely to retirement funds. He has furnished opinions to retirement funds on almost all areas of the law relating to retirement funds, advised on benefit design and represented funds before the Pension Fund Adjudicator and the FSB Appeal Board. He has considerable experience as a retirement fund trustee, having sat as trustee on the boards of 20 funds. His particular area of interest is the governance of retirement funds, and the Regulator has sought his advice in this area. He is a past national president of the Pension Lawyers Association and a past steering committee member of the International Pension & Employee Benefits Lawyers Association. He has been the conference chair of two PLA annual conferences, and is the conference chair for the IPEBLA 2007 biennial conference in Seville. In addition, he is on the Actuarial Society professional conduct committee, the advisory committee of the Southern African Pension Fund Investment Forum and the Panel of Lawyers who may be appointed to Surplus Tribunals in terms of the Pension Funds Act. Jonathan has also presented papers at numerous local and international conferences.
Qualifications:
- BA (University of Cape Town)
- LLB (University of Cape Town)
- Admitted as an attorney, notary and conveyancer of the High Court of South Africa
Professor Caspar Greeff
Professor Caspar Greeff has more than 40 years experience. He began his career at Old Mutual, where he performed general actuarial work on life insurance, insured pension funds and investments and became the Head of the Actuarial Department followed by executive positions involving insured pension funds and investments. He was also a partner at Malan and Partners (Consulting actuaries) where he was involved with product development and valuations for life insurance companies, investment advice and valuations for pension fund. He then started to lecture and went on to become the Head of the Actuarial Department at the University of Witswatersrand and Stellenbosch University. He is currently an independent consulting actuary, an independent trustee of The Road Accident Fund and an avid marathon runner.
Qualifications:
- Member of Institute of Administration and Commerce (Cost Accounting)
- FFA (Fellow of the Faculty of Actuaries), FASSA
- BSc (Mathematics and Mathematical Statistics)
- BSc (Hons) (Operational Research)