Allan Gray Stable Fund

Fund Objectives

The Fund aims to provide a high degree of capital stability and to minimise the risk of loss over any two-year period, while producing long-term returns that are superior to bank deposits.

Investment Strategy

The Fund aims to provide a return that exceeds the return of bank deposits (both on an after tax basis). The Fund also seeks to provide a high level of capital stability. The risk of loss over any two-year period is low. Figures only available at quarter end.

Investment Performance

Annual Return and Maximum Drawdown Figures					Updated: 16 Sep 2021
2 years	3 years	5 years	7 years	10 years	Maximum Drawdown
6.20%	4.71%	6.27%	7.26%	8.26%	-10.85%

Fund and Adviser Fees

Adviser Fees	Administration Fees	Management Fees
Upfront	Annual	Standard	Manager Discount	Effective Annual Fee	Total Expense Ratio (TER)
0.00%	0.50%	not available	not available	not available	1.67%
All fees shown exclude VAT. Data provided by Morningstar and Allan Gray / Investec.

Adviser Fees

Administration Fees

Management Fees

Upfront

Annual

Standard

Manager Discount

Effective Annual Fee

Total Expense Ratio (TER)

0.00%

0.50%

not available

1.67%

All fees shown exclude VAT. Data provided by Morningstar and Allan Gray / Investec.

What are adviser fees?

Adviser fees are paid to Beanstalk. We do not charge an upfront fee and our annual fee is very low at just 0.50% (+ VAT where applicable).

What are administration fees?

Annual administration fees are charged by Allan Gray Investment Services Proprietary Limited or Investec Management Services (Pty) Ltd for ongoing administation. The fee applicable to your investment depends on the unit trusts you have selected and the value of your investment. A negative annual administration fee means you will pay no annual administration fee and will receive additional units into your account.

What are management fees?

The annual management fee rate is dependent on the return of the Fund relative to its benchmark. The benchmark is the daily interest rate as supplied by FirstRand Bank Limited plus 2%, over a rolling two-year period. The fee hurdle (above which a fee greater than the minimum fee of 0.57% (incl. VAT) is charged) is performance equal to the benchmark minus 5%. For performance equal to the benchmark a fee of 1.14% (incl. VAT) per annum is payable. The managers sharing rate is 10% of the under and outperformance of the benchmark over a rolling two-year period and a maximum fee of 1.71% (incl. VAT) applies. The annual management fee is calculated on the daily value of the Fund excluding any assets invested in the Orbis Funds. These along with other expenses are included in the Total Expense Ratio.

Management fees are expenses included in the price of your selected unit trust(s). These expenses are not charged as separate fees, but are built into the unit price of the unit trusts you select. The fees shown include VAT where applicable. Values are calculated using more decimal places than are displayed.

Fund Positioning

This fund is suitable for conservative investments.

Fund Asset Allocation

Asset allocation as of
30 Sep 2020

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Disclaimer

Please note that while every effort is taken to ensure the accuracy of this information, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the fund information presented on this page. All data is provided by Morningstar, Allan Gray and Investec.