Allan Gray SA Equity Fund

The Allan Gray SA Equity Fund invests in South African shares listed on the Johannesburg Stock Exchange (JSE). The Fund is an equity fund fully invested in shares, due to the high equity exposure returns are likely to be volatile over the short-medium term. The Fund aims to create long-term wealth for investors and to outperform the South African equity market over as measured by the Funds benchmark the FTSE/JSE All Share Index including income.

• Seek to increase their exposure to JSE-listed (South African) equity
• Seek long-term capital growth
• Are comfortable with stock market fluctuations
• Are prepared to accept the risk of capital loss
• Typically have an investment horizon of 5 years or more

FTSE/JSE All Share Index including income

The Allan Gray SA Equity Fund seeks to achieve its objective by buying shares offering the best relative value while maintaining a diversified portfolio. The Fund managers use in-house research to identify JSE-listed companies whose share prices are underpriced relative to their long-term intrinsic value. This long-term perspective enables them to buy shares shunned by the stock market because of their unexciting/poor short-term prospects. However, which may present relative value in the long term. Furthermore, the selection of shares is across all sectors of the JSE and the range of large, mid and smaller-cap shares.