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Investec Equity Fund

Investment objective

The Investec Equity Fund aims to provide investors with capital growth over the long term. The objective is to achieve returns well in excess of the FTSE/JSE All Share Index, measured over three year periods.

Strategy

The fund is actively managed and invests in South African equities. The mandate is not restricted to any specific investment style. The investment strategy is underpinned by extensive research focusing on three sector groupings: resources, industrials and financials. The focus is predominantly on individual stock selection. However, macro-economic considerations such as interest rates and the performance of the rand also play an integral part in constructing the portfolio.

Fund features

Consistent top quartile returns
Proven ability to outperform in all market conditions
Flexible investment style and stock selection process
An equity only fund for investors seeking capital growth over the long term

Key Facts

Portfolio manager: Adrian De Fay
Launch date: 1 November 1987
Sector: Domestic EQ General
Size of fund: R3.9 billion
Benchmark: FTSE/JSE All Share Index (ALSI)
Minimum investment: R10 000 lump sum or R500 monthly debit order

Fees

	A Class	B Class
Initial fund fee	0%	0%
Initial advisor fee	3.00%*	0%

*Negotiable

Annual management fee

Minimum	0.85%	0.85%
Sharing rate#	20%	20%
Maximum fee	3.00%	3.00%

#The manager shares in the fund performance above the benchmark, FTSE JSE ALSI. If the fund performs in line with its ALSI benchmark then the Class A and B annual management fee is 0.85%. Fees are shown excluding VAT.

Total expense ratio (TER)*

The TERs for this fund are listed below. The performance fee shown below is included in the TERs. TERs shown are including VAT.

	A Class	B Class
TER	1.34%	1.49%
Performance fee	0.34%	0.51%

Income distribution dates
March & September

Previous income distribution for 6 months to 30 September 2009
A Class: Net dividend 11.61 cpu
B Class: Net dividend 11.48 cpu
A Class: Interest distribution 1.71 cpu
B Class: Interest distribution 1.89 cpu

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Collective Investment Schemes in Securities (CIS) are generally medium to long term investments. The value of participatory interests may go down as well as up and past performance is not necessarily a guide to the future. CIS are traded at ruling prices and can engage in borrowing and scrip lending. A schedule of fees and charges and maximum commissions is available on request from the company/scheme. Commission and incentives may be paid and if so, would be included in the overall costs. Forward pricing is used. Investec Fund Managers SA Ltd is a member of the Association for Savings & Investment SA.

All information and opinions provided are of a general nature and are not intended to address the circumstances of any particular individual or entity. We are not acting and do not purport to act in any way as an advisor or in a fiduciary capacity. No one should act upon such information or opinion without appropriate professional advice after a thorough examination of a particular situation. We endeavour to provide accurate and timely information but we make no representation or warranty, express or implied, with respect to the correctness, accuracy or completeness of the information and opinions. We do not undertake to update, modify or amend the information on a frequent basis or to advise any person if such information subsequently becomes inaccurate. Any representation or opinion is provided for information purposes only. Investec Asset Management is an authorised financial services provider.

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