The investment objective of the STANLIB Global Property Feeder Fund is to maximise long term total return, both capital and income growth. Apart from assets in liquid form, it will consist solely of participatory interests in a single portfolio of a collective investment scheme operated in territories with a regulatory environment which is to the satisfaction of the manager and trustee of a sufficient standard to provide investor protection at least equivalent to that in South Africa, namely the STANLIB Global Property Fund.

The STANLIB European Equity Feeder Fund is a feeder fund portfolio. The main objective of the STANLIB European Equity Feeder Fund is long term growth of capital. Apart from assets in liquid form, it consists solely of participatory interests in a single portfolio of a collective investment scheme operated in territories with a regulatory environment which is to the satisfaction of the manager and trustee of a sufficient standard to provide investor protection at least equivalent to that in South Africa, namely the Fidelity Institutional Pan-European Fund.

The STANLIB Global Bond Feeder Fund is a specialist feeder fund portfolio. The Manager seeks to achieve an investment medium for investors, which has as its main objective long-term growth of capital and income.

Apart from assets in liquid form, it consists solely of participatory interests in a single portfolio of a collective investment scheme operated in territories with a regulatory environment which is to the satisfaction of the manager and trustee of a sufficient standard to provide investor protection at least equivalent to that in South Africa, namely the STANLIB Global Bond Fund.

The Portfolio’s main objective is long-term growth of capital and income. Investments to be included will, apart from assets in liquid form consist solely of participatory interests of collective investment schemes.

The participatory interests to be included would include a selection of participatory interests in collective investment schemes which invest principally in US Dollar denominated fixed interest portfolios. Initially, the foreign collective investment schemes to be included in the Portfolio will include the following schemes: Fidelity Funds SICAV, Fidelity Funds SICAV II, Fidelity Investments Funds OEIC and Fidelity’s UK Authorised Unit Trusts.

This portfolio aims to obtain as high a level of current income as is consistent with capital preservation and liquidity. Investments will, apart from assets in liquid form, consist solely of participatory interests of other collective investment schemes from European Currency denominated fixed interest collective investment schemes.

The Manager will only include foreign collective investment schemes which have been approved by the FSB to be marketed in South Africa. Initially, the foreign collective investment schemes included in the portfolio will comprise: Fidelity Funds SICAV, Fidelity Funds SICAV II, Fidelity Investments Funds OEIC and Fidelity’s UK Authorised Unit Trusts.

The Fund adopts a multi-managed approach to investing and blends experienced property managers with different investment philosophies and strategies. It aims to provide investors with high income and long term capital growth by investing in listed property shares. The Fund’s objective is to outperform the FTSE/JSE SA Listed Property Index (SAPY) and produce returns in excess of the ASISA Real Estate General Sector average.

The Fund is a diversified income portfolio with a bias to listed property shares. It will be invested in domestically listed property shares, as well as other high-yielding income producing assets (namely bonds and money market instruments); with the flexibility to adjust the property weight according to market conditions. It aims to generate a reasonably high level of income and moderate capital growth.

Given that it has around 40% and 85% exposure to listed property, with the balance exposed to fixed interest securities, it will be a more conservative Fund than a fully invested property portfolio. Through time, the Fund is designed to provide most of the upside of listed property with significantly less volatility.

The Portfolio’s primary objective is growth of capital and to provide an income source for investors.

Investments to be acquired will consist of property shares, stock including property loan stock, debentures, debenture stock and debenture bonds, unsecured notes, property unit trusts and other securities listed on exchanges which is considered consistent with the portfolio’s primary objective.

The Portfolio may increase liquidity to 50% (percent) if it is deemed necessary by the Manager. The Portfolio’s exposure to fixed interest securities shall be limited to 30% (thirty percent). The Portfolio may also invest in the participatory interests of collective investment schemes.

The Portfolio’s primary objective is medium to long-term capital growth, with income generation as a secondary objective.

The securities to be included will predominantly consist of shares in companies listed on exchanges. The shares to be acquired will be shares which in the opinion of the Manager have greater intrinsic value than that reflected by their share prices in the relevant market.

The investment objective of the STANLIB Shari’ah Equity Fund is to primarily generate capital growth over the medium to long term, whilst conforming to the religious and cultural beliefs of Muslim investors. The generation of income will be a secondary objective.

This portfolio will invest in a mix of predominantly South African equity securities, as well as foreign equity securities, and when appropriate, other securities such as non-equity securities as may be permitted by the Shari’ah Standards of the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI). The manager may invest in participatory interests or any other form of participation in portfolios of collective investment schemes or other similar collective investment schemes as the Act may allow from time to time: Provided that the investments are done in accordance with the manner, limits and conditions as determined by the Registrar from time to time, as well as the Shari’ah Standards of the AAOIFI. No limits are specified with regard to a specific sector(s).

The Portfolio’s primary objective is steady growth of income and capital, a reasonable level of current income and stability for capital invested.

Investments will be made primarily in mining, mining financial, metals, minerals, energy, commodity and related securities. The securities to be included will consist of ordinary shares, and also non-equity securities and preference shares.

The Portfolio’s primary objective is to achieve stable medium to long-term capital growth with lower volatility than that of other general equity portfolios, with income generation as a secondary objective.

The securities to be included will predominantly consist of shares in companies listed on exchanges and when appropriate other securities (including non-equity securities and preference shares) that represent the positioning of the average General Equity Collective Investment Portfolio. Quantitative analysis techniques and a multi factor styling model will be used in selecting securities. The equity selection style will rotate between growth and value shares.

The Portfolio’s primary objective is steady growth of income and capital in the longer term.

The securities to be included will consist of ordinary shares from a broad spectrum of the sectors of the JSE Securities Exchange and when appropriate, other securities, including non-equity securities and preference shares. The Trustees shall ensure that the composition of the assets and their respective proportions in this Portfolio will not be identical to the STANLIB Equity Fund at all times.

The portfolio’s primary objective is to achieve capital growth and income generation over the longer term. The securities to be included will consist of ordinary shares from the industrial sectors of approved exchanges and when appropriate, other securities (including non-equity securities and preference shares). The Manager may also invest in other similar collective investment schemes.

The investment objective of the portfolio will be to focus on achieving a total compound annual return which will substantially equate to the total compound annual return of the FTSE/JSE Top 40 Index as adjusted to take into account transactions and other costs. The securities to be acquired for the Portfolio will consist of a selection of ordinary shares, as included in the FTSE/JSE Top 40 Index.

This investment objective is to earn a total compound annual return, which substantially equates to the total compound annual return of the FTSE/JSE All Share Index, as adjusted for transaction and other costs.

Investments will be a selection of ordinary shares as listed in the FTSE/JSE All Share Index at ratios so determined as to best replicate the performance of the FTSE/JSE All Share Index.

The portfolio’s primary objective is to achieve capital growth and income generation over the longer term.

Investments will consist of ordinary shares of companies whose business operations involve the provision of insurance, banking, brokerage or other financial services and when appropriate, other securities (including fixed income securities, approved securities, liquid assets, loan stock, preference shares, debenture stock, debenture bonds and unsecured notes, amongst others).

The portfolio’s primary objective is to achieve medium to long-term capital growth. The generation of income shall be secondary to the primary objective of maximising capital growth.

Investments will consist of: Ordinary shares consisting of a range of blue chip and emerging blue chip shares; shares in medium sized companies; and participatory interests in other similar collective investment schemes.

The Fund is a multi-asset class (including foreign) Shari’ah compliant portfolio that is diversified across asset classes, sectors and asset managers.

The Fund aims to provide long-term growth of capital and income with volatility at levels consistent with Shari’ah balanced (± 60% equity) portfolios. The objective of the Fund is to outperform the average of investable peers’ returns i.e.the Shari’ah balanced peer average, at risk levels consistent with that of these peers.

The Portfolio’s main objective is high growth of capital and income, a reasonable level of current income and relative stability for capital invested to obtain long-term wealth accumulation.

The Portfolio will comprise of a mix of financially sound securities of companies listed on exchanges and non-equity securities. The Portfolio will from time to time be invested in equity securities to the maximum permitted by the Act, or will be invested in non-equity securities to the maximum permitted by the Act, or any combination of the above. This portfolio may also include participatory interests of other collective investment schemes.

The Portfolio shall aim to generate a performance return of CPI +3% on a rolling 24 month basis, while simultaneously aiming to avoid potential negative performance returns over any 12 month period.

The portfolio will invest its assets in a relatively flexible combination of equity, bond, money market and property securities, as well as participatory interests in appropriate collective investment schemes, within targeted constraints placed on each asset class, as deemed appropriate to achieve the stated investment objective of the portfolio, from time to time.

In order to achieve this objective, appropriate statistical and asset allocation models will be used, as deemed appropriate from time to time. The manager may from time to time invest in participatory interests or any other form of participation in portfolios of collective investment schemes or other similar collective investment schemes. The portfolio may from time to time invest in financial instruments and will be permitted to invest its assets in foreign investment markets.

The portfolio aims to achieve capital growth and income generation by investing in long term fixed interest securities.

Securities will normally consist of a spread of gilts, semi-gilts, loan stock, debentures, debenture bonds, approved securities, notes and liquid assets and any other securities which are consistent with the portfolio’s investment policy.

The Fund is an enhanced cash plus solution that invests in short-term interest earning and money market instruments. It is diversified across different types of money market, enhanced yield and income type strategies to ensure that the Fund is conservative, liquid and competitive in the ASISA Interest Bearing Short Term sector.

The Fund is benchmarked against the STeFI Composite Index, with the aim of delivering regular income distributions and performance in excess of money market returns.

The portfolio’s primary objective is a reasonable level of current income and maximum stability for capital invested.

Investments will include a flexible mix of non-equity securities, including but not limited to money market instruments, bonds, fixed deposits, listed debentures and other high yielding securities, as well as any other securities which may be approved by the Registrar from time to time and which are consistent with the investment policy of the portfolio, to the maximum levels permitted by the Collective Investment Schemes Control Act, No 45 of 2002, and the Regulations thereto, as amended from time to time.

The portfolio will be managed in compliance with the Prudential Investment Guidelines that are applicable to retirement funds from time to time.

The STANLIB Cash Management team is always on the lookout for opportunities in the market for products that could maximise clients’ short-term cash returns and aims to offer liquidity. Fixed interest portfolios are made up of varying investments in the bond, cash (or non cash) and money markets.

These portfolios aim to provide interest income over the short- to medium-term. Income and bond portfolios also provide the opportunity for capital growth. This interest rate view is the framework within which the team manages assets on a day-to-day basis.

The investment objective of the portfolio is to provide an efficient investment medium whereby investors can participate in a portfolio that will seek to generate a high level of income, as well as the potential for capital growth.

Securities normally to be included in this portfolio means cash, bonds, financially sound and appropriate preference shares, property shares, stock including property loan stock, debentures, debenture stock and debenture bonds, unsecured notes, collective investment schemes in property, non-equity and other securities listed on exchanges which are considered consistent with the portfolio’s primary objective and that the Act or the Registrar may allow from time to time. The portfolio may be fully invested in any of the above-mentioned asset classes at any particular time.

The portfolio may invest in participatory interests or any other form of participation in portfolios of collective investment schemes or other similar collective investment schemes as the Act may allow from time to time, and which are consistent with the portfolio’s investment policy.

STANLIB Global Balanced Cautious Feeder Fund is a feeder fund seeking to achieve an investment medium for investors, which shall have as its main objective, to maximise long term total return.

Apart from assets in liquid form, it will consist solely of participatory interests in a single portfolio of a collective investment scheme operated in territories with a regulatory environment which is to the satisfaction of the manager and trustee of a sufficient standard to provide investor protection at least equivalent to that in South Africa, namely the STANLIB Global Balanced Cautious Fund, under the STANLIB Funds Limited Scheme domiciled in Jersey.

STANLIB Global Balanced Feeder Fund is a feeder fund seeking to achieve an investment medium for investors, which shall have as its main objective, to maximise long term total return.

Apart from assets in liquid form, it will consist solely of participatory interests in a single portfolio of a collective investment scheme operated in territories with a regulatory environment which is to the satisfaction of the manager and trustee of a sufficient standard to provide investor protection at least equivalent to that in South Africa, namely the STANLIB Global Balanced Fund, under the STANLIB Funds Limited Scheme domiciled in Jersey.

The primary investment objective of the portfolio will be to achieve higher than average capital growth over the longer term at the risk of greater short-term volatility of capital values, with income generation as a secondary objective.

The following asset allocation limitations will apply to the portfolio: Equity Funds – 75% to 95%, Property Funds – 0% to 20%, Bond Funds – 0% to 10%, Money Market and Income Funds – 0% to 10% of the value of the Portfolio.

The Portfolio will not invest in participatory interests of portfolios where the value of the foreign assets included in such portfolio exceeds 10% of the net asset value of such portfolio.

The primary investment objective of the portfolio will be to obtain a high level of income with capital growth over the longer term as a secondary objective, at a low risk of short to medium term volatility of capital values.

Investments to be included in the portfolio will, apart from assets in liquid form, consist solely of participatory interests of Portfolios of the STANLIB Collective Investment Scheme. The Portfolio will not invest in participatory interests of portfolios where the value of the foreign assets included in such portfolio exceeds 10% of the net asset value of such portfolio.

The primary investment objective of the portfolio will be to achieve high capital growth over the longer term with a relatively steady stream of income, at a moderate risk of short-term volatility of capital values.

Investments to be included in the portfolio will, apart from assets in liquid form, consist solely of participatory interests of Portfolios of the STANLIB Collective Investment Scheme. The Portfolio will not invest in participatory interests of portfolios where the value of the foreign assets included in such portfolio exceeds 10% of the net asset value of such portfolio.

The primary investment objective of the portfolio will be to achieve income generation and capital growth over the longer term at a moderate risk of short-term volatility of capital values.

Investments to be included in the portfolio will, apart from assets in liquid form, consist solely of participatory interests of Portfolios of the STANLIB Collective Investment Scheme. The Portfolio will not invest in participatory interests of portfolios where the value of the foreign assets included in such portfolio exceeds 10% of the net asset value of such portfolio.

The Portfolio’s main objective is to generate a reasonable level of current income and capital growth for the investor. The portfolio will consist of a diversified spread of investments in securities and non-equity securities, in a manner which is similar to that usually employed by retirement schemes.

The investments in securities would include shares and preference shares, including property shares and property loan stock, listed on exchanges, non-equity securities and participatory interests of other collective investment schemes.

The portfolio is a specialist portfolio and aims to achieve capital growth, as well as some level of capital protection over the long-term. In the short-term the portfolio aims to profit from a rising equity market and protect investors against capital losses in a weak equity market.

In order to achieve this objective, the portfolio will from time to time be invested in equity securities and/or non-equity securities to the maximum level permitted by the Act that will comply with prudential investment guidelines for retirement portfolios. The manager may from time to time invest in participatory interests or any other form of participation in portfolios of collective investment schemes or other similar collective investment schemes as the Act may allow from time to time, and which are consistent with the portfolio’s investment policy.

The manager will use a quantitative risk management model when selecting the securities that will be included in the portfolio. The model shall incrementally switch exposure from equities to non-equity instruments if the portfolio value drops towards a predetermined “protective floor”.

The portfolio’s objective is to achieve a reasonable level of current income and long-term capital growth at average risk levels whilst complying with the prudential investments guidelines.

The portfolio will consist of a diversified spread of investments in securities and non-equity securities, in a manner which is similar to that usually employed by retirement schemes with maximum equity exposure of 40%.

The portfolio may also invest in participatory interest and other forms of participation in portfolios of collective investment schemes or other similar schemes operated in territories with regulator environment which is to the satisfaction of the manager and trustee of a sufficient standard to provide investor protection at least equivalent to that in South Africa.

The primary performance objective of the portfolio is to obtain as high a level of current income as is consistent with capital preservation and liquidity. Capital gains will be of an incidental nature. This portfolio may not have any direct and/or indirect foreign exposure.

The portfolio’s primary objective is a reasonable level of current income and maximum stability for capital invested.

Securities normally to be included in the portfolio will consist of fixed income securities embracing non equity securities, stock, financially sound preference shares, debenture stock, debenture bonds and unsecured notes to be acquired at fair market prices.

The portfolio seeks to maximise overall return, in the form of both income and capital growth. It will be consistent with the investment of funds in a flexible mix of predominantly non-equity securities.

The portfolio will invest its assets in South African investment markets at all times and will be permitted to make investments in a flexible mix of non-equity securities, and any other securities that are consistent with the portfolio’s investment policy, which will include but will not be limited to preference shares. This portfolio may also invest in other similar collective investment schemes.

The primary investment objective of the portfolio will be to obtain a reasonably high level of income generation and to achieve capital growth over the longer term at a moderate to low risk of short term volatility of capital values.

Investments to be included in the portfolio will, apart from assets in liquid form, consist solely of participatory interests of Portfolios of the STANLIB Collective Investment Scheme. The Portfolio will not invest in participatory interests of portfolios where the value of the foreign assets included in such portfolio exceeds 10% of the net asset value of such portfolio.

The STANLIB Global Equity Feeder Fund is a feeder fund seeking to achieve an investment medium for investors, which shall have as its main objective to maximise long term total return.

Apart from assets in liquid form, it will consist solely of participatory interests in a single portfolio of a collective investment scheme operated in territories with a regulatory environment which is to the satisfaction of the manager and trustee of a sufficient standard to provide investor protection at least equivalent to that in South Africa, namely the STANLIB High Alpha Global Equity Fund.

The Portfolio’s main objective is steady growth of income and capital, a reasonable level of current income and the maximum stability for capital invested.

The securities to be included will consist of securities, non equity securities and participatory interest of collective investment schemes in securities.