AF Investments Equity Fund of Funds (A) - ISPE fund information

The Alexander Forbes Equity Fund of Funds will seek to provide returns above benchmark with greater diversification than traditional equity funds. The universe will consist of all equity CIS portfolios. Investment into other Fund of Funds CIS portfolios is not permitted. The Investment Solutions Multi-Manager Equity Unit Trust Fund of Funds portfolio will compete directly with other Equity Funds of Funds in the South African market. The fund is a medium risk equity portfolio aimed at adding value through buying participatory interests of other collective investment scheme portfolios. Investments to be included in the fund will, apart from assets in liquid form, consist solely of participatory interests in local and global portfolios in equities (including listed property) as legislation permits. With respect to participatory interests of portfolios operated outside of South Africa, the Manager and the Trustees will first satisfy themselves that the regulatory environment in which these portfolios are operated are of a sufficient standard to provide investors protection, as a minimum, equivalent to that in South Africa. The portfolio will have a minimum exposure of 80% in equities. Investments to be included in the portfolio will, apart from assets in liquid form, invest solely in a range of participatory interests of portfolios of collective investment schemes that have exposure to domestic and offshore equities, listed property, listed and unlisted financial instruments, as permitted by the Collective Investment Schemes Control Act no. 45 of 2002 (“CISCA”), and subordinate legislation promulgated thereunder. With respect to participatory interests of portfolios operated outside of South Africa, the manager and the trustees will first satisfy themselves that the regulatory environment in which these portfolios are operated, are of a sufficient standard to provide investors protection, as a minimum, equivalent to that in South Africa. The portfolio will be diversified among investment styles. The effective exposure of equities, excluding listed property, will vary in accordance with the requirements of the South African Equity General Portfolios ASISA Fund classification category, as amended from time to time. The manager will be permitted to invest, on behalf of the portfolio, in offshore investments, as legislation permits. There are no additional mandate investment limitations.