Glossary

Fee drag

Reduction in net return caused by ongoing costs relative to gross return. Education vocabulary — measure using fund disclosures.

TER

Total Expense Ratio: a standardised expression of certain ongoing costs as a percentage of assets. Not a complete cost map on its own.

Principal officer

Operational lead supporting the board of a retirement fund; responsibilities are defined in fund governance documents and applicable law.

Investment mandate

Documented investment policy constraints and objectives given to managers. Ordinary industry vocabulary — not a product or publication name.

Regulation 28

Prudential investment regulation for SA retirement funds. Orientation only on this site — not a compliance finding.

Fact sheet

Periodic summary of a portfolio’s characteristics, performance, and selected costs. Useful for orientation; incomplete as sole diligence.

CPD (on this site)

Metadata fields reserved for a future CMS. Benefits Desk staging build claims no live accreditation or points.

Not advice

Standing position: education content is not FAIS advice, legal advice, or a recommendation to buy, sell, or retain any product.