Vulcan Value Equity Fund (USD)

Fund Objectives

Primary objective is to minimize the risk of permanently losing capital over out long-term time horizon, which is five years. By concentrating on not losing money, making money will take care of itself. We control risk by demanding a substantial margin of safety in terms of value over price and limit investments to companies that have sustainable competitive advantages that will allow them to earn superior cash returns on capital. We are also business operators and recognise that we are investing in real businesses that are run by real people and face real issues. We evaluate business risks, assess people, and scrutinize competitive strengths to consider long term investment. If we would not be comfortable owning an investment for five years it does not qualify. We are not traders or speculators. We do not buy pieces of paper or dicrete random variables. We are long term owners in a collection of superior business enterprises.

Investment Strategy

The investment objective of the Fund will be to achieve capital appreciation over the long term primarily by investing directly or indirectly in equity securities. Exposure to equity securities may be achieved by investing in collective investment schemes, including exchange traded funds.

Investment Performance

Annual Return and Maximum Drawdown Figures Updated: 01 Jan 1900
2 years 3 years 5 years 7 years 10 years Maximum Drawdown
10.10% 10.97% 8.02% n/a n/a -16.87%

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 0.90%

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 Fund charges a fixed fee of 0.75% (VAT exempt) with no performance fee component.

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 aggressive investments.

Fund Asset Allocation

Asset allocation as of
31 Dec 2016



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.