CN500

1. Introduction

The Fundisa Fund (Fundisa) is a unit trust with a special tertiary educational focus. The fund applies a means test of an annual household income of R180 000 or less to the families of beneficiaries, ensuring that Fundisa only supports the needs of children from lower-income families. As this means test applies only to the families of beneficiaries and not investors, higher-income earners are able to invest on behalf of children from lower- income families. The beneficiaries must be South African citizens or permanent residents and can only use this funding at a public tertiary education institution.