“Dear R

Please find the REVISED returns for October 2019 and November 2019 attached...

Background:

E (Fund Accountant from RFS) queried our returns as he could not reconcile to our market linked portfolio return. We compared our workings and it became obvious that the Investec market value as at 31 Oct 2019 differed. The Investec statement we received reflected a market value of … whereas RFS received a statement which showed...

This was taken up with Investec and they confirmed the … [RFS value] to be correct. This caused the October return to be overstated and the November return to be understated…

This situation shows the merits of having independent service providers that keep an eye on each other. Thank you E for highlighting this.

Kind regards”