Analysis by Good Value for Money of the general conditions of the MACIF heritage contract, Jeewan Patrimoine

Jeewan Heritage (MACIF / Mutavie)

Good Value for Money analysis of the General Conditions

Version as of August 17, 2022

Reference elements

• Insurer:
• Type of Contract :
• Type of contract:
  • Collective with individual subscription
• Subscribing entity of the collective contract:
  • MACIF + Joint management committee members / Mutavie
• Version of the analyzed general conditions:
  • July 2022 (Ref. MUT / NI / JEEWAN – 07/22)
• Contract status:
  • Open to new subscriptions

Costs

• Subscription fees:
  • No application fees on subscription
  • No membership fees
• Entry fees on payments:
  • 1% fee on payments
• Annual management fees on the fund in euros:
• Annual management fees on unit-linked (UA):
  • 0.80% withdrawn monthly by reduction in the number of units of account
• Annual management fees on units of account (UA) under management under controlled mandate:
  • 1.10% withdrawn monthly by reduction in the number of units of account
    (i.e. 0.30% in addition to free management)

Minimum payment amounts

• Minimum opening deposit amount:
  • Free management: €20,000 (minimum of 1% per medium)
  • Project horizon management: €20,000
  • Management under managed mandate: €20,000
• Minimum free deposit amount:
  • Free management: €1,000 (minimum of 1% per medium)
  • Project horizon management: €1,000
  • Management under managed mandate: €1,000
• Minimum amount of scheduled free payments:
  • Monthly frequency: €100 (minimum of 1% per medium)
  • Quarterly periodicity: (not offered)
  • Semi-annual frequency: (not offered)
  • Annual frequency: (not offered)
• Possibility of annual indexation of scheduled free payments:

“General Euros” Classic Euro Fund
(general asset Mutavie)

• History of rates paid (net of fees and gross of social security contributions):
  Statistical series reconstructed by Good Value for Money
  • 2021: 1.25% to 1.65% depending on bonus
  • 2020: 1.45% to 1.85% depending on bonus
  • 2019: 1.80%
  • 2018: 1.90%
  • 2017: 1.80%
  • 2016: 1.80%
  • 2015: 2.40%
  • 2014: 2.60%
  • 2013: 3.00%
  • 2012: 3.15%
• Nature of the capital guarantee on the fund in euros
  • Guarantee net of management fees on the fund in euros (i.e. 0.60%)
• Possible investment constraint(s):

Proposed financial management methods

• Free management:
  • Free investment in the euro fund of the contract

• Access to the range of 23 CPUs offered in free management:
  • Classic units of account
    • 22 units of account
    • 11 management companies
  • Real estate supports
    • SCPI: (none)
    • SCI / SC / SCP: (none)
    • OPCI: 1 (Opcimmo P from Amundi Immobilier)
  • Index supports
  • Vivid titles
  • Private equity funds (unlisted)

• Arbitration at the initiative of the investor in free management:
  • minimum amount
    • at least €1,000 by arbitration
  • Billing
    • 3 free arbitrations per year
    • Invoicing of the following up to 0.30% sums arbitrated

• Possible activation of the following financial management options:
  • Securing capital gains
    • Different setting possible on each unit of account
    • Choice of a capital gain level per unit from + 5%, + 10%, + 15%
    • Arbitrage of the entire capital gain to the fund in euros
    • Control carried out daily (each trading day)
    • Free of charge for any automatic arbitrations carried out
  • Dynamization of interest (PB paid annually on the fund in euros)
    • Arbitration carried out on January 25 of each year
    • Arbitration of the entire PB to be energized on CUs
    • Free configuration of the investment (in %) between supports (UA)
      with a minimum of 1% per CU
    • Free of charge for any automatic arbitrations carried out
  • Progressive investment
    • Minimum amount of €150 per investment maturity
    • Choice of frequency: monthly / quarterly / half-yearly / annual
    • Fixing the number of arbitrations to be carried out over time
    • Free configuration of the investment (in %) between a maximum of 5 supports
    • Free of charge for any automatic arbitrations carried out
  • Automatic rebalancing
    • Definition by the saver of the standard distribution to be respected
      with a minimum of 1% per medium
    • Implementation every month, subject to the existence of an amount of at least €150 to reallocate
    • Free of charge for any automatic arbitrations carried out
  • Relative stop-loss
    • Different setting possible on each unit of account
    • Choice of a capital loss level per unit from among – 5%, – 10%, – 15%
    • Arbitrage to the fund in euros
    • Control carried out daily (each trading day)
    • Free of charge for any automatic arbitrations carried out

• Project horizon management
  • Fixing the investment period between 1 and 30 years
  • Choice of a management scheme by horizon among the 3 proposed:
    • Careful
      • 51% of funds in euros at 15 years from maturity
      • 64% of funds in euros at 10 years from maturity
      • 95% of funds in euros at 1 year from maturity
    • Balance
      • 0% funds in euros at 15 years from maturity
      • 16% of funds in euros at 10 years from maturity
      • 92% of funds in euros at 1 year from maturity
    • Dynamic
      • 0% funds in euros at 15 years from maturity
      • 0% funds in euros at 10 years from maturity
      • 90% of funds in euros at 1 year from maturity
    • Automatic annual readjustment of the allowance on the anniversary date of the implementation of this management method by the client on his contract
    • Automatic allocation of savings between the following 4 supports according to a table defined in advance
      • Ofi Sustainable World Actions (classified as “International Equities” support by GVfM)
      • Ofi RS MultiTrack (classified support “International flexible management” by GVfM)
      • Ofi Prudent Profile (support class “Conservative profiled management” by GVfM)
      • Funds in euros of the contract
    • Free amounts automatically reallocated by Mutavie as part of project horizon management

• Management under mandated management:
  • Choice of a management orientation among the 3 proposed:
    • Careful :
      • Target volatility of less than 5% for a recommended investment period of 2 years
      • Exposure between 30 and 50% in units of account, of which a maximum of 50% in equities
      • Risk level: 2 / 7
    • Balance :
      • Target volatility of less than 10% for a recommended investment period of 3 years
      • Exposure between 55 and 75% in units of account, of which a maximum of 80% in equities
      • Risk level: 3 / 7
    • Dynamic:
      • Target volatility of less than 15% for a recommended investment period of 4 years
      • Exposure between 70 and 90% in units of account, of which a maximum of 100% in equities
      • Risk level: 3 / 7

• Free investment of savings by the Ofi AM management team depending on the management orientation chosen by the saver between:
  • the range of 32 supports offered in management under controlled mandate
  • the fund in euros of the contract

• Realization by Ofi AM within its mandate of a maximum of 12 arbitrations per year

• Flat-rate invoicing of the mandate up to 0.30% of additional annual fees on the units of account concerned

• Methods of possible accumulation of the proposed management modes (“Multi-pocket management”):

• Charges for changing financial management mode by the saver:
  • 3 free arbitrations / changes in financial management mode per calendar year
  • Invoicing of the following up to 0.30% of the sums transferred

Partial redemption

• Minimum amount:
• Minimum balance at the end of the partial redemption:

Optional floor guarantee

• Subscription terms
  • Optional guarantee that can only be taken out when signing up to the contract
• Maximum amount of insurable loss:
• Guarantee age limit:
  • 75^th birthday of the insured
• Annual warranty cost:
  • 0.08% of the savings managed on the contract, regardless of the member’s age and the percentage of units of account in the contract

Other possible optional guarantees

To learn more about the analysis of Good Value for Money, click on the following link: https://www.goodvalueformoney.eu/produit/selection-sel0000480-jeewan-patrimoine-mutavie-selection-2022-2023

All rights reserved to Good Value for Money