The Discovery Target Retirement 2045 Fund is a uniquely-structured fund specifically for retirement savings. The objective of the fund will be to maximise the total real returns, comprising both capital and income, over the anticipated life span of the fund.

The fund aims to provide long-term real returns with appropriate levels of risk for investors, given the fund’s target date and investors’ retirement date. The risk profile of the fund will vary over the investment term following the cohort of investors who have a retirement date close to 2045. The fund will also be managed 20 years into retirement taking into account the phase that the cohort of investors are in. The fund may invest in JSE listed companies, listed gilts and interest bearing securities, money market instruments, listed property companies or securities, listed derivative instruments, participatory units in collective investment schemes and foreign investments.

The fund seeks to maximise exposure to those asset classes which appear cheaply priced relative to their long run fundamentals and/or cheap relative to other asset classes. It looks to hold lower weightings to those asset classes that look expensive relative to their fundamentals and/or other relevant asset classes.

The Discovery Target Retirement 2040 Fund is a uniquely-structured fund specifically for retirement savings. The objective of the fund will be to maximise the total real returns, comprising both capital and income, over the anticipated life span of the fund.

The fund aims to provide long-term real returns with appropriate levels of risk for investors, given the fund’s target date and investors’ retirement date. The risk profile of the fund will vary over the investment term following the cohort of investors who have a retirement date close to 2040. The fund will also be managed 20 years into retirement taking into account the phase that the cohort of investors are in. The fund may invest in JSE listed companies, listed gilts and interest bearing securities, money market instruments, listed property companies or securities, listed derivative instruments, participatory units in collective investment schemes and foreign investments.

The fund seeks to maximise exposure to those asset classes which appear cheaply priced relative to their long run fundamentals and/or cheap relative to other asset classes. It looks to hold lower weightings to those asset classes that look expensive relative to their fundamentals and/or other relevant asset classes.

The Discovery Target Retirement 2030 Fund is a uniquely-structured fund specifically for retirement savings. The objective of the fund will be to maximise the total real returns, comprising both capital and income, over the anticipated life span of the fund.

The fund aims to provide long-term real returns with appropriate levels of risk for investors, given the fund’s target date and investors’ retirement date. The risk profile of the fund will vary over the investment term following the cohort of investors who have a retirement date close to 2030. The fund will also be managed 20 years into retirement taking into account the phase that the cohort of investors are in. The fund may invest in JSE listed companies, listed gilts and interest bearing securities, money market instruments, listed property companies or securities, listed derivative instruments, participatory units in collective investment schemes and foreign investments.

The fund seeks to maximise exposure to those asset classes which appear cheaply priced relative to their long run fundamentals and/or cheap relative to other asset classes. It looks to hold lower weightings to those asset classes that look expensive relative to their fundamentals and/or other relevant asset classes.

The Discovery Target Retirement 2025 Fund is a uniquely-structured fund specifically for retirement savings. The objective of the fund will be to maximise the total real returns, comprising both capital and income, over the anticipated life span of the fund.

The fund aims to provide long-term real returns with appropriate levels of risk for investors, given the fund’s target date and investors’ retirement date. The risk profile of the fund will vary over the investment term following the cohort of investors who have a retirement date close to 20205. The fund will also be managed 20 years into retirement taking into account the phase that the cohort of investors are in. The fund may invest in JSE listed companies, listed gilts and interest bearing securities, money market instruments, listed property companies or securities, listed derivative instruments, participatory units in collective investment schemes and foreign investments.

The fund seeks to maximise exposure to those asset classes which appear cheaply priced relative to their long run fundamentals and/or cheap relative to other asset classes. It looks to hold lower weightings to those asset classes that look expensive relative to their fundamentals and/or other relevant asset classes.

The Discovery Target Retirement 2015 Fund is a uniquely-structured fund specifically for retirement savings. The objective of the fund will be to maximise the total real returns, comprising both capital and income, over the anticipated life span of the fund.

The fund aims to provide long-term real returns with appropriate levels of risk for investors, given the fund’s target date and investors’ retirement date. The risk profile of the fund will vary over the investment term following the cohort of investors who have a retirement date close to 2015. The fund will also be managed 20 years into retirement taking into account the phase that the cohort of investors are in. The fund may invest in JSE listed companies, listed gilts and interest bearing securities, money market instruments, listed property companies or securities, listed derivative instruments, participatory units in collective investment schemes and foreign investments.

The fund seeks to maximise exposure to those asset classes which appear cheaply priced relative to their long run fundamentals and/or cheap relative to other asset classes. It looks to hold lower weightings to those asset classes that look expensive relative to their fundamentals and/or other relevant asset classes.

The Discovery Target Retirement 2020 Fund is a uniquely-structured fund specifically for retirement savings. The objective of the fund will be to maximise the total real returns, comprising both capital and income, over the anticipated life span of the fund.

The fund aims to provide long-term real returns with appropriate levels of risk for investors, given the fund’s target date and investors’ retirement date. The risk profile of the fund will vary over the investment term following the cohort of investors who have a retirement date close to 2020. The fund will also be managed 20 years into retirement taking into account the phase that the cohort of investors are in. The fund may invest in JSE listed companies, listed gilts and interest bearing securities, money market instruments, listed property companies or securities, listed derivative instruments, participatory units in collective investment schemes and foreign investments.

The fund seeks to maximise exposure to those asset classes which appear cheaply priced relative to their long run fundamentals and/or cheap relative to other asset classes. It looks to hold lower weightings to those asset classes that look expensive relative to their fundamentals and/or other relevant asset classes.

The Discovery Money Market Fund aims to earn a higher level of income than fixed and call deposits over time and to outperform South African money market indices. Further, it aims to protect investors’ capital and provide them with immediate liquidity.

The fund targets returns in excess of the benchmark, measured over rolling one-year periods. The primary performance objective of the fund is to obtain a high level of current income as is consistent with capital preservation and liquidity.

Capital gains will be of an incidental nature.

The Discovery Moderate Balanced Fund uses a stand-alone multi-asset strategy with prudential international exposure. The investment process is based on a balanced research process. The Fund aims to provide steady income and capital growth from an actively managed portfolio diversified by major asset classes, at a lower level of volatility than the typical equity or balanced fund.

The Fund aims to do this by investing in a balanced manner, with equity exposure moderated in order to reduce the risk of capital loss during unfavorable market conditions. The fund will adhere to prevailing regulations when investing in financial instruments and participatory interests.

The Fund may invest in JSE listed companies, listed gilts or interest bearing securities, money market instruments, listed property companies or securities, listed derivative instruments, participatory units in collective investment schemes and foreign investments.

This fund feeds into Luxembourg domicile Investec GSF Global Equity. It uses Four Factor investment approach, which is a unique model that uses key drivers of performance to methodically invest in stocks.

The fund manager follows an individual stock picking approach (bottom-up approach) to invest in stocks that are considered high quality because they meet minimum investment criteria. The fund invests predominantly  in developed markets such as the USA, Europe, UK and Asia and can invest in companies of varying sizes across industries and countries.

This rand denominated fund is managed using a specialist balanced strategy with dedicated international exposure. The fund implements views generated by the multi-asset team of Investec Asset Management in London. Views and portfolio implementation are modified aiming to deliver an appropriate out-performance of the benchmark.

The fund aims to earn high global returns over the long term, with moderate volatility in hard-currency terms. The fund targets returns in excess of the benchmark, measured over rolling three-year periods.

The Discovery Flexible Property Fund invests mainly in a mixture of property securities listed on the JSE such as listed property unit trusts, listed property loan stock, participatory units in collective investment schemes.

The fund aims to outperform South African property equity indices as measured by the benchmark over rolling three-year periods. The fund further aims to provide an income yield to investors investing for the long term.

The fund follows a specialist equity strategy with international exposure. This is based on a rigorous specialist equity research process. The fund uses a market-relative investment process.

The fund will maintain at least 80% in South African listed property equity. The balance will be invested in bonds, money market and other high yielding instruments.

The Discovery Equity Fund is a collective investment scheme that aims to give investors long-term investment growth. At least 70% of this fund is invested in South Africa, with the balance invested in offshore markets.

The strategy of this fund is to invest in undervalued shares in small, medium and large-sized companies across different sectors in South Africa and shares that are believed to offer exceptional investment opportunities for the fund manager. The result is a portfolio consisting of predominantly undervalued stocks which may behave very differently to the overall market and which have the potential to outperform over the long term.

The Discovery Dynamic Equity Fund is a collective investment scheme that aims to give investors long-term investment growth with consistent incremental outperformance. The majority of the fund is invested in South Africa with the balance offshore.

The fund manager uses a unique investment approach to analyse company shares. The fund follows a multi-style investment approach, which combines different investment styles, such as value investing (buying cheap companies and selling expensive ones), growth investing (buying fast-growing companies) and quality investing (buying blue-chip companies). The fund manager’s allocation to each investment style changes dynamically depending on market conditions.

The Discovery Diversified Income Fund invests in a combination of local and international government bonds, corporate bonds, listed property assets and other securities that offer a high income yield. The fund aims to outperform South African bond indices as measured by the benchmark over rolling two-year periods. The fund may include offshore investments as legislation permits.

It aims to provide investors with a high level of income while seeking opportunities to maximise capital gains. The fund follows a specialist fixed income strategy, based on a rigorous research process. It uses a fundamental investment process.

The Discovery Cautious Balanced Fund uses a stand-alone multi-asset strategy with prudential international exposure. The investment process is a balanced research process.

The Fund may invest in JSE listed companies, listed gilts and interest bearing securities, money market instruments, listed property companies or securities, listed derivative instruments, participatory units in collective investment schemes and foreign investments.

The Fund limits equity exposure to 40% of the portfolio and international exposure to 25%.

The objective is to achieve returns in excess of the strategy’s peer group average, measured over three-to five-year periods. It aims to grow income and capital over the short to medium term.