ARYSTEQ SA EQUITY FUND

The SA Equity Fund aims to outperform the FTSE/JSE Capped SWIX All Share Index and to maximise long-term capital appreciation by investing in listed equities in South Africa.

Investors who are maximising wealth and who:

• Are comfortable with full exposure to shares in South Africa
• Accept that the fund may underperform in the short term
• Do not foresee unexpected income needs in the short run
• Wishes to use this fund as a “building block” in their overall asset allocation

This fund invests only in South African listed equities.

The fund will not apply any leverage in the portfolio through borrowing or short positions. The fund may take derivative positions, but only as a portfolio management decision to hedge portfolio exposures or to apply a more cost-effective asset allocation.