The PPS Balanced Index Tracker Fund is a South African Multi Asset High Equity portfolio that may invest in a combination of listed and unlisted financial instruments in the local and global equity, bonds, money, and property markets with the explicit purpose of tracking the PPS Balanced Index. The manager may make use of optimisation or other techniques to track the index efficiently.

The primary investment objective of the PPS Balanced Index Tracker Fund is to track the customised PPS Balanced Index, a published multi asset high equity composite index that is diversified across a number of constituent indices, and calculated and published daily by a recognised index compiler. The portfolio is suitable for retirement savings and is Regulation 28 compliant.

The portfolio is suitable for investors who require sector specific exposure to real estate securities as part of their overall investment strategy, with both income generation and capital appreciation as their primary goal over the long-term.

The fund has a focus on capital growth and absolute returns through active asset allocation. It seeks to provide lower volatility than traditional balanced funds, but with sufficient equity to provide scope for capital growth over the medium to long term. Stock selection is oriented towards a quality approach, seeking to deliver consistent performance through the business cycle.

The Fund aims to provide capital growth. It invests in equities (e.g. company shares), cash and bonds (contracts to repay borrowed money which typically pay interest at fixed times). The Fund manages its investments in these asset classes in an active and aggressive style and can invest up to 75% of its value in equities. Other investments may include the units of other funds (including foreign funds) and derivatives (financial contracts whose value is linked to the price of an underlying asset).

The Allan Gray Money Market Fund invests in South African money market instruments with a term shorter than 13 months. These instruments can be issued by government, parastatals, corporates and banks. The fund is managed to comply with regulations governing retirement funds.

While capital losses are unlikely, they can occur if, for example, one of the issuers of an instrument held by the fund defaults. In this event losses will be borne by the Fund and its investors.

The PPS Equity Fund aims to provide investors with investment returns in excess of its benchmark while seeking to provide capital growth over the long-term.

The portfolio invests primarily in shares of listed companies. It may, however, also invest in listed and unlisted financial instruments, and it may also hold units in collective investment schemes. Ratios may vary.

The PPS Flexible Income Fund aims to provide investors with income in excess of its benchmark, while providing capital protection in times of bond market weakness. It is also a suitable vehicle for retirement.

The portfolio may invest in high-yielding securities and listed or unlisted financial instruments. It may also hold units in collective investment schemes or other similar schemes. Ratios may vary to optimise prevailing market conditions. The maximum effective exposure in local and foreign equities is limited to 10%; and effective local and foreign property is limited to 25% of the market value of the portfolio.

The PPS Enhanced Yield Fund aims to provide investors with income in excess of its benchmark, while providing capital protection and maintaining a high degree of liquidity. It is also a suitable vehicle for retirement savings.

The portfolio typically invests in interest-earning securities, such as bonds and fixed deposits. It may invest in listed or unlisted financial instruments. Ratios may vary, to optimise prevailing market conditions. It may also hold units in collective investment schemes or other similar schemes.

The PPS Managed Flexible Fund of Funds aims to outperform inflation by 6% per year over periods longer than 84 months. This fund of funds allows for flexible asset allocation and may invest in equity securities, interest-bearing securities, listed and unlisted financial instruments and liquid assets.

No maximum asset allocation applies to South African or offshore investments. Asset allocation ratios may vary. The fund of funds solely holds units in local or foreign collective investment schemes or other similar schemes.

The PPS Balanced Fund of Funds aims to outperform its peer group over time. It is also a suitable vehicle for retirement savings. This fund will have moderately high exposure, not exceeding 75% and property not exceeding 25%.

This fund may invest in equity securities, interest-bearing securities, listed and unlisted financial instruments and liquid assets. It solely holds units in local or foreign collective investment schemes or other similar schemes. Ratios may vary.

The PPS Moderate Fund of Funds aims to outperform inflation by 4% per year over periods longer than 60 months. It is also a suitable vehicle for retirement savings.

This fund of funds allows for flexible asset allocation with equity exposure which will not exceed 60%. It may also invest in interest-bearing securities, listed and unlisted financial instruments and liquid assets. It solely holds units in local or foreign collective investment schemes or other similar schemes.

The PPS Conservative Fund of Funds aims to outperform inflation by 2% per year over periods longer than 36 months. It is also a suitable vehicle for retirement savings.

This fund of funds is well diversified across managers and asset classes, with limited equity exposure which will not exceed 40% and a maximum effective property exposure of 25%. It may invest in listed and unlisted financial instruments. It solely holds units in local or foreign collective investment schemes or other similar schemes.