psg equity fund classa...psg equity fund classa minimum disclosure document and fact sheet as at 31...

%

Resources 14

Financials 16

Industrials 43

Domes�c Cash 1

Foreign equity 26

Total 100

ASSET ALLOCATION TOP 10 EQUITY HOLDINGS

Imperial Holdings Ltd

Glencore plc

Anglo American plc

Steinhoff Interna�onal Holdings Ltd

Capitec Bank Holdings Ltd

Discovery Holdings Ltd

Markel Corp

Capital One Financial Corp

Brookfield Asset Management Inc

Microso� Corp

HOW THE FUND HAS PERFORMED SINCE 1 March 2002 (Cumula�ve) ANNUALISED PERFORMANCE % (a�er fees)

Re

turn

1 year 3 years 5 years 10 years Fund Manager

Incep�on

0.0

2.0

4.0

6.0

8.0

10.0

12.0

14.0

16.0

18.0

20.0

22.0

19.7

15.6

19.720.4

3.9

15.7

1.1

15.315.716.4

PSG Equity Fund A (Performance) FTSE/JSE All Share TR ZAR (Benchmark)

2003 2005 2007 2009 2011 2013 2015100.0

100.0

300.0

500.0

700.0

900.0

1 100.0

1 300.0

PSG Equity Fund A (Performance) FTSE/JSE All Share TR ZAR (Benchmark)

INVESTMENT OBJECTIVE INVESTMENT POLICY

The fund is a general equity fund and the manager in selec�ng securi�es for the

por�olio, will seek to offer investors longterm capital growth and earn a higher rate

of return than that of the South African equity market as represented by the All

Share Index including income, without assuming a greater risk.

In order to achieve these main objec�ves the investments to be acquired for the PSG

Equity Fund shall comprise a mix of securi�es and assets in liquid form, all to be

acquired at a fair market value. The por�olio will hold a minimum of 75% of the

market value of the por�olio in equi�es at at all �mes.

Performance Sta�s�cs

2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 2002

Return

Best Month

Worst Month 0.2

8.3

40.5

4.2

10.1

51.6

4.7

11.4

37.5

2.8

4.4

10.8

14.3

8.8

33.1

7.8

10.7

43.5

4.2

9.4

20.8

2.3

6.7

5.6

2.7

4.5

19.7

3.0

7.7

37.1

2.2

3.3

14.3

7.1

6.5

0.2

8.5

10.9

40.3

MANAGEMENT COMPANY: PSG Collec�ve Investments Limited, 1st Floor, Alphen Office Park, Constan�a Main Road, Constan�a, 7806 Tel: (021) 7998000, Email: [email protected], Website: www.psg.co.za/assetmanagement Date issued: 15 September 2015

FUND FACTS

This fund invests in equi�es and can be up to 25% in foreign companies, with the balance in

companies listed in South Africa. This fund should produce the highest real (above infla�on)

returns over the longterm. The fund sits at the top end of the risk/return spectrum and investors

in this fund should be comfortable with stock market fluctua�ons and should have an investment

horizon of at least five years.

Sector

Benchmark

Regula�on 28 compliant

Fund Managers

Fund Launch Date

Fund Size (ZAR)

South African Equity General

FTSE/JSE All Share Index a�er costs

No

Shaun le Roux and Greg Hopkins

31 December 1997

2 347 729 988

FUND CHARACTERISTICS

PSG Equity Fund Class AMinimum Disclosure Document as at 31 August 2015

The PSG Equity Fund Class A has a Total Expense Ra�o (TER) as listed above. For the period from 1 July 2014 to 30 June 2015 on an annualised

basis, the above percentages of the average Net Asset Value of the por�olio was incurred as charges, levies and fees.

Month end NAV Price (cpu)

Minimum Investment

Distribu�on Frequency

Latest Distribu�on (cpu) 31 Aug 15 ; 28 Feb. 15

Max. Adviser Fee % (incl. VAT)

Annual Management Fee % (incl. VAT)

Total Expense Ra�o % (incl. VAT)

964.57

R2000 lump sum or

R250 monthly debit order

February, August

7.61c ; 1.94c

2.28

1.71

1.73

RISK CLASSIFICATION

PSG Equity Fund Class AMinimum Disclosure Document and Fact Sheet as at 31 August 2015

Who should invest in the PSG Equity Fund?

The fund is suitable for investors who:

• seek an equityfocused por�olio that has outstanding growth poten�al

• aim to maximise poten�al returns within an acceptable risk profile

• focus on a longterm investment horizon

General informa�on and risksCollec�ve Investment Schemes in Securi�es (CIS) are generally medium to longterm

investments. The value of par�cipatory interests (units) or the investment may go

down as well as up and past performance is not a guide to future performance.

Fluctua�ons or movements in the exchange rates may cause the value of underlying

interna�onal investments to go up or down. CIS are traded at ruling prices and can

engage in borrowing and script lending. The Fund may borrow up to 10% of its

market value to bridge insufficient liquidity. Where foreign securi�es are included in

a por�olio, the por�olio is exposed to risks such as poten�al constraints on liquidity

and the repatria�on of funds; macroeconomic, poli�cal, foreign exchange, tax,

se�lement and poten�al limita�ons on the availability of market informa�on. The

por�olios may be capped at any �me in order for them to be managed in

accordance with their mandate. Excessive withdrawals from the por�olio may place

the por�olio under liquidity pressures and in such circumstances a process of ring

fencing of withdrawal instruc�ons and managed payouts over �me may be followed.

PSG Collec�ve Investments Limited does not provide any guarantee either with

respect to the capital or the return of the por�olio.

PerformanceAll performance data for a lump sum, net of fees, include income and assumes

reinvestment of income on a NAV to NAV basis. Annualised performances show

longer term performance rescaled over a 12 month period. Individual investor

performance may differ as a result of ini�al fees, the actual investment date, the

date of reinvestment and dividend withholding tax. Performance is calculated for

the por�olio and individual investor performance may differ as a result thereof. The

por�olio is valued at 15h00 daily. Income distribu�ons are net of any applicable

taxes. Actual annual figures are available to the investor on request. Prices are

published daily and available on the website www.psg.co.za/assetmanagement and

in the daily newspapers. Figures quoted are from Morningstar Inc.

PricingForward pricing is used. Unit trust prices are calculated on a net asset value (NAV)

basis, which is the market value of all assets in the Fund including income accruals

less permissble deduc�ons divided by the number of units in issue.

Fees A schedule of fees and charges and maximum commissions is available on request

from PSG Collec�ve Investments Limited. Commission and incen�ves may be paid

and, if so, are included in the overall costs. Different classes of Par�cipatory Interest

can apply to these por�olios and are subject to different fees, charges and possibly

dividend withholding tax and will thus have differing performances.

Total Expense Ra�o DisclosureThe TER is the percentage of the Fund’s average assets under management that

have been used to pay the Fund’s opera�ng expenses over the period as indicated

on page 1. The TER includes the annual management fees that have been charged,

trading costs, VAT and other expenses. A higher TER ra�o does not necessarily imply

a poor return, nor does a low TER imply a good return. The current TER cannot be

regarded as an indica�on of future TER’s.

Cut-off �mes The cutoff �me for submi�ng investment transac�ons is 14h30 daily, with the

excep�on of the PSG Money Market Fund which is 11h00.

Company details PSG Collec�ve Investments Limited is registered as a CIS Manager with the Financial

Services Board, and a member of the Associa�on of Savings and Investments South

Africa (ASISA) through its holdings company PSG Konsult Limited. The management

of the por�olio is delegated to PSG Asset Management (Pty) Ltd, an authorised

Financial Services Provider under the Financial Advisory and Intermediary Services

Act 2002, FSP no 29524. PSG Asset Management (Pty) Ltd, PSG Collec�ve

Investments Limited and PSG Konsult Limited are subsidiaries of PSG Group Limited.

PSG Collec�ve Investments Limited and can be contacted on +27 (21) 799 8000; (toll

free) 0800 600 168, via email: [email protected].

Conflict of Interest Disclosure The Fund may from �me to �me invest in a por�olio managed by a related party.

PSG Collec�ve Investments Limited or the fund manager may nego�ate a discount in

fees charged by the underlying por�olio. All discounts nego�ated are reinvested in

the Fund for the benefit of the investors. Neither PSG Collec�ve Investments Limited

nor PSG Asset Management retains any por�on of such discount for their own

accounts. The fund manager may use the brokerage services of a related party, PSG

Securi�es Ltd.

TrusteeThe Standard Bank of South Africa Limited, Main Tower, Standard Bank Centre, 2

Hertzog Boulevard, Cape Town, 8001. Tel: 021 401 2443. Email: compliance

[email protected].

Addi�onal informa�on Addi�onal informa�on is available free of charge on the website www.psg.co.za/

assetmanagement and may include publica�ons, brochures, applica�on forms and

annual reports.


%

Resources 7

Industrials 21

Financials 8

Domes�c cash 39

Foreign equity 25

Total 100


Berkshire Hathaway Inc

J Sainsbury plc

Anglo American plc


Glencore plc


Super Group Ltd

JP Morgan Chase & Co


Firstrand Ltd

HOW THE FUND HAS PERFORMED SINCE 1 November 2004 (Cumula�ve) ANNUALISED PERFORMANCE % (a�er fees)

Re

turn

1 year 3 years 5 years 10 years Fund Manager

Incep�on

0.0

2.0

4.0

6.0

8.0

10.0

12.0

14.0

16.0

18.0

20.0

11.2

18.317.2

16.617.8

11.011.9 11.6

12.3 12.2

PSG Flexible Fund A (Performance) SA CPI+6% (Benchmark)

2005 2007 2009 2011 2013 2015100.0

175.0

250.0

325.0

400.0

475.0

550.0

625.0

PSG Flexible Fund A (Performance) SA CPI+6% (Benchmark)

INVESTMENT OBJECTIVE

The PSG Flexible Fund is a managed flexible por�olio and will seek to follow an investment

policy which will aim to achieve superior medium to longterm capital growth through

exposure to selected sectors of the equity market, and/or the gilt market and/or money

market. The asset alloca�on will be ac�vely managed and will con�nually reflect the

por�olio manager's view of the rela�ve a�rac�veness of the equity, gilt and money

markets, both locally and abroad. The selected sectors of the equity por�on of the

por�olio will change from �me to �me in accordance with changing market condi�ons and

economic trends.

INVESTMENT POLICY

The por�olio aims to achieve superior medium to long term capital growth through

exposure to selected sectors of the equity, gilt and money markets.


2014 2013 2012 2011 2010 2009 2008 2007 2006 2005

Return

Best Month

Worst Month 1.72

7.15

31.19

1.28

5.08

31.13

1.17

4.44

12.14

6.37

5.99

9.93

9.41

8.92

28.05

2.47

5.51

26.02

0.95

5.75

10.48

1.75

4.45

13.70

3.03

7.05

31.55

1.56

2.86

12.12


FUND FACTS FUND CHARACTERISTICS

This fund currently invests in equi�es and cash. It can invest up to 100% in equi�es

of which up to 25% can be invested in foreign equity. The fund has a flexible asset

alloca�on mandate and equity exposure will be varied based on opportunity. This

fund sits in the upper half of the risk/return spectrum and investors should be

comfortable with stock market fluctua�ons and should have an investment horizon

of at least three years.

Sector

Benchmark


Fund Manager

Fund Launch Date

Fund Size (ZAR)

South African Mul� Asset Flexible

Infla�on + 6%

No

Jan Mouton (Since 1 November 2004)

2 November 1998

7 556 120 223

PSG Flexible Fund Class AMinimum Disclosure Document as at 31 August 2015

The PSG Flexible Fund Class A has a Total Expense Ra�o (TER) of 2.43%. For the period from 1 July 2014 to 30 June 2015, 2.43% of the average Net

Asset Value (NAV) of the por�olio was incurred as charges, levies and fees related to the management of the por�olio. A higher TER ra�o does not

necessarily imply a poor return, nor does a low TER imply a good return. The current TER cannot be regarded as an indica�on of future TER's.

Inclusive in the TER of 2.43%, a performance fee of 1.27% of the Net Asset Value of the por�olio was received. The performance fee is calculated on

the average NAV for the period 1/7/2014 30/6/2015.

Month end NAV Price (cents)

Minimum Investment


Latest Distribu�on (cpu) 31 Aug 15 ; 28 Feb 15



Performance Fee (incl. VAT)


457.65

R2000 lump sum or


February, August

6.27c ; 2.61c

2.28

1.14

7.98% above high water mark

2.43

RISK CLASSIFICATION

Who should invest in the PSG Flexible Fund?


• seek exposure to the equity market but with managed risk levels

• aim to build wealth

• focus on a medium to longterm investment horizon

General informa�on and risks

For full informa�on on the fund please read the prospectus. Collec�ve Investment

Schemes in Securi�es (CIS) are generally medium to longterm investments. The

value of par�cipatory interests (units) or the investment may go down as well as up

and past performance is not a guide to future performance. Fluctua�ons or

movements in the exchange rates may cause the value of underlying interna�onal

investments to go up or down. CIS are traded at ruling prices and can engage in

borrowing and script lending. The Fund may borrow up to 10% of its market value to

bridge insufficient liquidity. Where foreign securi�es are included in a por�olio, the

por�olio is exposed to risks such as poten�al constraints on liquidity and the

repatria�on of funds; macroeconomic, poli�cal, foreign exchange, tax, se�lement

and poten�al limita�ons on the availability of market informa�on. The por�olios

may be capped at any �me in order for them to be managed in accordance with

their mandate. Excessive withdrawals from the por�olio may place the por�olio

under liquidity pressures and in such circumstances a process of ringfencing of

withdrawal instruc�ons and managed payouts over �me may be followed. PSG

Collec�ve Investments Limited does not provide any guarantee either with respect

to the capital or the return of the por�olio.

Performance

All performance data for a lump sum, net of fees, include income and assumes




date of reinvestment and dividend withholding tax. Performance is calculated for the

por�olio and individual investor performance may differ as a result thereof. The





Pricing

Forward pricing is used. Unit trust prices are calculated on a net asset value (NAV)



Fees

A schedule of fees and charges and maximum commissions is available on request





Total Expense Ra�o Disclosure

The TER is the percentage of the Fund’s average assets under management that






Cut-off �mes

The cutoff �me for submi�ng investment transac�ons is 14h30 daily, with the


Company details

PSG Collec�ve Investments Limited is registered as a CIS Manager with the Financial








free) 0800 600 168, via email [email protected].

Conflict of Interest Disclosure

The Fund may from �me to �me invest in a por�olio managed by a related party.






Securi�es Ltd.

Trustee

The Standard Bank of South Africa Limited, Main Tower, Standard Bank Centre, 2


[email protected].

Addi�onal informa�on

Addi�onal informa�on is available free of charge on the www.psg.co.za/asset

management and may include publica�ons, brochures, applica�on forms and annual

reports.

PSG Flexible Fund Class AMinimum Disclosure Document as at 31 August 2015


%

Resources 7

Financials 10

Industrials 21

Bonds 13

Domes�c cash 24

Foreign equity 25

Foreign cash 0

Total 100



Super Group Ltd


Markel Corp

Anglo American plc

Steinhoff Interna�onal Holdings Ltd



J Sainsbury plc

Old Mutual plc

HOW THE FUND HAS PERFORMED SINCE 1 June 1999 (Cumula�ve) ANNUALISED PERFORMANCE % (a�er fees)

Re

turn

1 year 3 years 5 years 10 years Incep�on0.0

2.0

4.0

6.0

8.0

10.0

12.0

14.0

16.0

18.0

10.6

15.414.8

12.7

15.1

10.010.9 10.6

11.210.7

PSG Balanced Fund A (Performance) SA CPI+5% (Benchmark)

2001 2003 2005 2007 2009 2011 2013 2015100.0

200.0

300.0

400.0

500.0

600.0

700.0

800.0

900.0

1 000.0

1 100.0

PSG Balanced Fund A (Performance) SA CPI+5% (Benchmark)


The primary objec�ve of the fund is long term growth of capital and a reasonable

level of income for investors.

The PSG Balanced Fund will be a specialised por�olio, having the primary objec�ve

of long term growth of capital and a reasonable level of income for investors. The

manager shall seek to achieve this objec�ve through ac�ve management of a

por�olio of assets which comprise a mix of securi�es, nonequity securi�es and

assets in liquid form. The asset alloca�on will be ac�vely managed and will

con�nually reflect the por�olio manager’s view of the rela�ve a�rac�veness of the

equity, gilt and money markets, both locally and abroad. The selected sectors within

the equity por�on of the por�olio will change from �me to �me in accordance with

changing market condi�ons and economic trends.



2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 2002 2001 2000

Return

Best Month

Worst Month

11.38

2.24

1.16

26.03

5.65

2.16

13.65

2.79

1.10

8.21

4.06

0.94

14.95

3.68

1.38

19.05

6.42

9.26

12.92

5.82

7.54

10.25

3.67

1.82

25.14

6.85

2.21

28.49

5.66

1.96

29.71

6.39

0.93

21.48

7.79

5.70

7.70

5.21

3.48

14.43

7.39

4.89

0.22

6.80

6.38


This fund invests in all asset classes: equi�es, bonds, property and cash both

domes�cally and in foreign markets. The fund can have up to 75% in equi�es, up to

25% in listed property and up to 25% in foreign markets. The fund sits in the middle

of the risk/return spectrum and aims to deliver infla�on plus 5% over �me. Investors

in this fund should be comfortable with moderate market fluctua�ons and should

have an investment horizon of at least three years.

Sector

Benchmark


Fund Managers

Fund Launch Date

Fund Size (ZAR)

South African Mul� Asset High Equity

Infla�on +5%

Yes

Paul Bosman and Greg Hopkins

1 June 1999

5 007 004 645

PSG Balanced Fund Class AMinimum Disclosure Document as at 31 August 2015

The PSG Balanced Fund Class A has a Total Expense Ra�o (TER) as listed above. For the period from 1 July 2014 to 30

June 2015 on an annualised basis, the above percentages of the average Net Asset Value of the por�olio was

incurred as charges, levies and fees.

Month end NAV Price

Minimum Investment


Latest Distribu�on (cpu) 31 Aug . 15 ; 28 Feb. 15

Max Broker Fee % (incl. VAT)



6318.60

R2000 lump sum or


February, August

106.11c ; 71.52c

2.28

1.71

1.74

RISK CLASSIFICATION

PSG Balanced Fund Class AMinimum Disclosure Document as at 31 August 2015

Who should invest in the PSG Balanced Fund?


��

��

would prefer the fund manager to make the asset alloca�on decisions

aim to build wealth within a moderate risk investment

have a �me horizon of at least three years and can withstand shortterm

market fluctua�ons

want a balanced por�olio that diversifies the risk over the various asset classes

The Fund is also suitable for longterm re�rement savings


Collec�ve Investment Schemes in Securi�es (CIS) are generally medium to longterm
















Regula�on 28

The fund is managed according to Regula�on 28 of the Pension Funds Act. The

South African re�rement fund industry is governed by the Pension Funds Act No. 24

of 1956. Regula�on 28 of the Pension Funds Act prescribes the maximum limits in

asset classes that an approved re�rement fund may invest in. Exposures in excess of

the limits will be corrected immediately, except where due to a change in the fair

value or characteris�c of an asset, e.g. market value fluctua�ons, in which case they

will be corrected within a reasonable �me period.

Performance











Pricing




Fees













Cut-off �mes



Company details

















Securi�es Ltd.

Trustee



[email protected].


Addi�onal informa�on is available free of charge on the website www.psg.co.za/


annual reports.


%

Resources 3

Financials 5

Industrials 10

Bonds 17

Domes�c cash 48

Foreign equity 17

Foreign cash 0

Total 100

ASSET ALLOCATION




Super Group Ltd

Markel Corp

Capitec Bank Ltd

Standard Bank South Africa Ltd

Landbank Ltd

MercedesBenz South Africa Ltd

Netcare (Pty) Ltd

TOP 5 EQUITY HOLDINGS TOP 5 BOND ISSUER EXPOSURES

HOW THE FUND HAS PERFORMED SINCE 13 September 2011 (Cumula�ve) ANNUALISED PERFORMANCE % (a�er fees)

Re

turn

1 year 2 years 3 years Incep�on0.0

1.0

2.0

3.0

4.0

5.0

6.0

7.0

8.0

9.0

10.0

11.0

12.0

8.6 8.6

10.410.8

8.08.7 8.9 8.7

PSG Stable Fund A (Performance) SA CPI+3% (Benchmark)

2011 2012 2013 2014 2015100.0

107.5

115.0

122.5

130.0

137.5

145.0

152.5

PSG Stable Fund A (Performance) SA CPI+3% (Benchmark)


In order to achieve this investment objec�ve the securi�es normally to be included in the

por�olio will primarily consist of a mix of debt securi�es, money market instruments,

bonds, infla�onlinked securi�es, listed equi�es, listed property, preference shares, and

other high yielding securi�es as allowed by the Act and approved by the Registrar from

�me to �me. This por�olio may include financial instruments such as deriva�ves, within

the limita�ons prescribed by the Regula�ons in order to achieve its investment objec�ves.

The por�olio may be invested in equity securi�es to a maximum of 40% of the por�olio.

The por�olio will comply with regula�ons controlling re�rement funds or such other

applicable legisla�on as may be determined for re�rement funds.

The fund will seek to generate a performance return of CPI + 3% over a rolling three

year period, a�er costs, while aiming to achieve capital apprecia�on with low

vola�lity and a low correla�on to equity markets through all market cycles.


2014 2013 2012

Best Month

Worst Month 0.00

1.95

0.78

3.01

0.36

1.49



Sector

Benchmark


Fund Managers

Fund Launch Date

Fund Size (ZAR)

South African Mul� Asset Low Equity

Infla�on +3% over rolling 3 years

Yes

Paul Bosman and Ian Sco�

13 September 2011

2 254 994 130

This fund invests in all asset classes: equi�es, bonds, property and cash both

domes�cally and in foreign markets. The fund can have up to 40% in equi�es, up to

25% in listed property and up to 25% in foreign markets. The fund aims to achieve

capital apprecia�on with low vola�lity and a low correla�on to equity markets

through all market cycles. Investors in this fund should be comfortable with low

market fluctua�ons and should have an investment horizon of at least two years.

PSG Stable Fund Class AMinimum Disclosure Document as at 31 August 2015

The PSG Stable Fund Class A has a Total Expense Ra�o (TER) as listed above. For the period from 1 July 2014 to 30 June 2015 on an

annualised basis, the above percentages of the average Net Asset Value of the por�olio was incurred as charges, levies and fees. The

performance fee has been discon�nued from 31 December 2013.


Minimum Investment





136.78

R2000 lump sum or


February, August

3.08 ; 2.40c

1.71

1.74

RISK CLASSIFICATION

PSG Stable Fund Class AMinimum Disclosure Document as at 31 August 2015

Who should invest in the PSG Stable Fund?


��

have a low risk appe�te but require capital growth in real terms

focus on a short to mediumterm investment horizon


















Regula�on 28








Performance











Pricing




Fees













Cut-off �mes



Company details

















Securi�es Ltd.

Trustee



[email protected].


Addi�onal informa�on is available free of charge on the www.psg.co.za/asset

management may include publica�ons, brochures, applica�on forms and annual

reports.


%

Domes�c equity 2

Domes�c bonds 42

Domes�c cash 52

Foreign equity 4

Total 100

ASSET ALLOCATION

Nedbank Ltd

Absa Bank Ltd

Firstrand Bank Ltd

Standard Bank Ltd

Capitec Bank Ltd


Capitec Bank Holdings Limited

Markel Corp

Microso� Corp


TOP 5 EQUITY HOLDINGS TOP 5 ISSUER EXPOSURES

HOW THE FUND HAS PERFORMED SINCE 7 April 2006 (Cumula�ve) ANNUALISED PERFORMANCE % (a�er fees)

Re

turn


0.8

1.5

2.3

3.0

3.8

4.5

5.3

6.0

6.8

7.5

8.3

9.0

7.58.0

7.47.8

6.0

6.96.6

7.4

PSG Diversified Income Fund A (Performance) SA CPI+1% (Benchmark)

2007 2009 2011 2013 201580.0

100.0

120.0

140.0

160.0

180.0

200.0

220.0

PSG Diversified Income Fund A (Performance) SA CPI+1% (Benchmark)


The por�olio aims to seek to preserve capital and to maximize income returns for

investors. The fund conforms to legisla�on governing re�rement funds.

The PSG Diversified Income Fund is a specialist por�olio. The por�olio comprises a mix of

high yielding equity securi�es, property, bonds, preference shares and assets in liquid

form, both locally and abroad, thereby genera�ng both tax free and taxable income, whilst

preserving capital.

Please note that the name of the fund changed from PSG Op�mal Income Fund to PSG

Diversified Income Fund from 1 September 2014.


2014 2013 2012 2011 2010 2009 2008 2007

Return

Best Month

Worst Month 0.30

1.93

9.56

1.53

2.02

5.97

1.74

2.23

10.62

0.10

1.50

7.03

0.71 0.19

1.73

8.14

0.84

0.31

4.97

0.14

1.430.74

6.54 9.34



This fund only invests predominantly in fixed income instruments but can also have

up to 10% of the fund in equi�es, both domes�c and foreign. The fund can have up

to 10% in listed property and 25% of the fund in foreign markets. The fund aims to

provide a reasonable income with aboveinfla�on capital apprecia�on over �me.

Investors in this fund should be comfortable with a small degree of exposure to

market fluctua�ons and should have an investment horizon of at least 24 months.

Sector

Benchmark


Fund Managers

Fund Launch Date

Fund Size (ZAR)

South African Mul� Asset Income

Infla�on + 1%

Yes

Ian Sco� and Paul Bosman

7 April 2006

887 817 376

PSG Diversified Income Fund Class AMinimum Disclosure Document and Fact Sheet as at 31 August 2015

The PSG Diversified Income Fund A Class has a Total Expense Ra�o (TER) as listed above. For the period from 1 July

2014 to 30 June 2015 on an annualised basis, the above percentages of the average Net Asset Value of the por�olio

was incurred as charges, levies and fees.

Month end NAV Price

Minimum Investment


Latest Distribu�on (cpu) 31 Aug 15 ; 29 May 15

28 Feb 15 ; 29 Nov 14




119.96

R2000 lump sum or R250 monthly debit order

February, May, August, November

1.85c ; 1.82c

1.74c ; 1.64c

0.57

1.14

1.18

RISK CLASSIFICATION

PSG Diversified Income Fund Class AMinimum Disclosure Document as at 31 August 2015

Who should invest in the PSG Diversified Income Fund?


��

have a low risk appe�te and with an income requirement

want to earn an income, but need to try and beat infla�on


Diversified Income

The yield is calculated daily on an annualised basis. The calcula�on is based on the

current yield of fixed income instruments.


















Regula�on 28








Performance











Pricing




Fees













Cutoff �mes



Company details

















Securi�es Ltd.

Trustee



[email protected].




annual reports.


%

Fixed Rate Notes 41

Floa�ng Rate Notes 52

Cash 7

Total 100

ASSET ALLOCATION TOP 10 BOND EXPOSURES

Nedbank Ltd

ABSA Bank Ltd

Firstrand Bank Ltd

Standard Bank Ltd

Capitec Bank Ltd

Bidvestco Ltd

Barloworld Ltd

Landbank Ltd

Incorporated Development Corp

The Thekwini Fund (RF) Ltd

HOW THE FUND HAS PERFORMED SINCE 1 September 2011 (Cumula�ve) ANNUALISED PERFORMANCE % (a�er fees)

Re

turn

1 year 3 years Incep�on0.0

0.8

1.5

2.3

3.0

3.8

4.5

5.3

6.0

6.8

7.5

6.5

5.7 5.96.4

5.7 5.7

PSG Income Fund A (Performance) STeFI Composite ZAR (Benchmark)

2/2012 8/2012 2/2013 8/2013 2/2014 8/2014 2/2015 8/2015100.0

105.0

110.0

115.0

120.0

125.0

130.0

PSG Income Fund A (Performance) STeFI Composite ZAR (Benchmark)


In order to achieve its investment objec�ve, the por�olio will be permi�ed to invest in

assets in liquid form, a diversified range of fixedinterest securi�es, including but not

limited to loan stock, debentures, debenture stock, bonds, unsecured notes, whether they

have inherent op�on rights or are conver�ble, as well as any other nonequity securi�es

which may be approved by the Registrar from �me to �me and which are consistent with

the investment policy of the por�olio, to the maximum levels permi�ed by the Act and the

Regula�ons thereto, as amended from �me to �me. The por�olio may include financial

instruments to the extent and limits allowed by legisla�on in the Republic of South Africa.

The investment objec�ve of the fund is to maximise income while achieving long

term capital apprecia�on as interest rate cycles allow.



2014 2013 2012

Return

Best Month

Worst Month

6.46

0.63

0.26

4.74

0.49

0.05

5.65

0.62

0.36


This fund only invests in bonds, fixed deposits and interestbearing instruments with

fixed maturity dates. The fund cannot invest in property, equi�es and preference

shares. The fund aims to preserve capital and maximize income. Investors in this

fund should be comfortable with a small degree of exposure to interest rate

fluctua�ons and should have an investment horizon of at least 12 months.

Sector

Benchmark


Fund Managers

Fund Launch Date

Fund Size (ZAR)

South African Interest Bearing Short Term

STEFI Composite

No

Ian Sco� and Hein Dietzsch

1 September 2011

67 660 643

PSG Income Fund Class AMinimum Disclosure Document as at 31 August 2015

The PSG Income Fund Class A has a Total Expense Ra�o (TER) as listed above. For the period from 1 July 2014 to 30

June 2015 on an annualised basis, the above percentages of the average Net Asset Value of the por�olio was


Month end NAV Price

Minimum Investment


Latest Distribu�on (cpu) 31 Aug 15 ; 29 May 15

28 Feb 15 ; 29 Nov 14




103.05

R2000 lump sum or R250 monthly debit order

February, May, August and November

1.74c ; 1.71c

1.63c ; 1.60c

0.57

0.74

0.93

RISK CLASSIFICATION

PSG Income Fund Class AMinimum Disclosure Document as at 31 August 2015

Who should invest in the PSG Income Fund?


��

have a low risk appe�te with an income requirement


Income FundThe yield is calculated daily on an annualised basis. The calcula�on is based on the

current yield of fixed income instruments.


























































Securi�es Ltd.



[email protected].



annual reports.


%

Linked NCD/Floa�ng Rate Notes 46

NCDs 34

Step Rate Notes 19

Corporate paper 1

Total 100

ASSET ALLOCATION TOP EXPOSURES

Nedbank Ltd

Firstrand Bank Ltd

Absa Bank Ltd

Standard Bank Ltd

Investec Bank Ltd

Capitec Bank Ltd

Imperial Group (Pty) Ltd

Barloworld Ltd

Mercedes Benz SA Ltd

Transnet Soc Ltd

HOW THE FUND HAS PERFORMED SINCE 19 October 1998 (Cumula�ve) ANNUALISED PERFORMANCE % (a�er fees)

Re

turn

1 year 3 years 5 years 10 years Incep�on0.0

1.0

2.0

3.0

4.0

5.0

6.0

7.0

8.0

9.0

10.0

7.3

5.65.6

6.4

8.7 8.8

7.3

5.65.66.3

PSG Money Market Fund A (Performance) (ASISA) South African IB Money Market (Benchmark)

2001 2003 2005 2007 2009 2011 2013 2015100.0

150.0

200.0

250.0

300.0

350.0

400.0

PSG Money Market Fund A (Performance) (ASISA) South African IB Money Market (Benchmark)


The fund aims to provide capital security, a steady income yield and high liquidity. The investment objec�ve of the por�olio is to provide a medium whereby investors

can obtain undivided par�cipa�on in a diversified por�olio of such money market

instruments as defined from �me to �me. The primary performance objec�ve of

the por�olio is to obtain as high a level of current income as is consistent with

capital preserva�on and liquidity. Capital gains will be of an incidental nature. The

por�olio will comply with legisla�on governing re�rement funding.


2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 2002 2001 2000 1999

Return

Best Month

Worst Month

5.86

0.53

0.40

4.99

0.43

0.37

5.31

0.46

0.40

5.45

0.48

0.42

6.84

0.65

0.48

9.08

0.95

0.59

11.91

1.07

0.83

9.46

0.86

0.66

7.38

0.69

0.51

6.94

0.60

0.52

7.49

0.65

0.55

12.21

1.19

0.66

11.53

1.11

0.70

10.24

0.89

0.73

10.33

0.94

0.76

14.41

1.44

0.91



This fund invests in interestbearing instruments with a maturity of less than 13

months. These are cash deposits and highly liquid fixed interest securi�es. The fund

aims to preserve capital and provide a steady income yield with high liquidity.

Investors in this fund should experience no market fluctua�ons, wish to ensure that

their capital remains intact over even the shortest term and there is no suggested

minimum period.

Sector

Benchmark


Fund Manager

Launch Date

Fund Size

South African Interest Bearing Money Market

South African Interest Bearing Money Market Mean

Yes

Heinrich Dietzsch

19 October 1998

2 856 177 976

PSG Money Market Fund Class AMinimum Disclosure Document as at 31 August 2015

Month end NAV Price

Minimum Investment




Latest Distribu�on (cpu) 31 August 15

100.00

R25000 lump sum

Monthly

0.57

0.59

0.5387c

The PSG Money Market Fund Class A has a Total Expense Ra�o (TER) as listed above. For the period from 1 July 2014

to 30 June 2015 on an annualised basis, the above percentages of the average Net Asset Value of the por�olio was


31 July 15 0.5283c ; 30 June 15 0.5067c ; 31 May 15 0.5287c ; 30 Apr 15 0.5106c ; 31 Mar 15 5346c ; 28 Feb 15 0.4809c ;

31 Jan 15 0.5371c ; 31 Dec 14 0.5309c ; 30 Nov 14 0.5149c ; 31 Oct 14 0.5184c ; 30 Sep 14 0.4989c ; 31 Aug 14 0.4989c

RISK CLASSIFICATION

PSG Money Market Fund Class AMinimum Disclosure Document as at 31 August 2015

Who should invest in the PSG Money Market Fund?


�

��

seek capital stability, interest income and high liquidity through a lowrisk

investment

need an interim investment vehicle or 'parking bay' for surplus funds


Money Market

The PSG Money Market Fund maintains a constant price and is targeted at a

constant value. The quoted yield is calculated by annualizing the average 7 day yield.

A money market por�olio is not a bank deposit account. The total return to the

investor is made up of interest received and any gain or loss made on any par�cular

instrument. In most cases the return will merely have the effect of increasing or

decreasing the daily yield but in the case of abnormal losses it can have the effect of

reducing the capital value of the por�olio.


















Regula�on 28








Performance











Pricing




Fees













Cut-off �mes



Company details

















Securi�es Ltd.

Trustee



[email protected].




annual reports.


%

United States 51

United Kingdom 17

Africa 3

Europe 13

Asia 8

Canada 6

Singapore 1

Cash 1

Total 100

REGIONAL ALLOCATION TOP 10 EQUITY HOLDINGS


Markel Corp


J Sainsbury plc


Microso� Corp


Daimler AG

HSBC Holdings plc

Cisco Systems Inc

HOW THE FUND HAS PERFORMED SINCE 3 May 2011 (Cumula�ve) ANNUALISED PERFORMANCE % (a�er fees)

Re

turn


5.0

10.0

15.0

20.0

25.0

30.0

35.0

16.2

21.9

14.5

10.0

19.6

22.6

29.1

24.8

PSG Global Equity Feeder Fund A (Performance) MSCI World Free NR USD (Benchmark)

2011 2012 2013 2014 201580.0

100.0

120.0

140.0

160.0

180.0

200.0

220.0

240.0

260.0

280.0

PSG Global Equity Feeder Fund A (Performance) MSCI World Free NR USD (Benchmark)


The PSG Global Equity Feeder Fund is a Rand denominated Equity Feeder Fund,

feeding solely into the PSG Global Equity SubFund, denominated in US Dollars and a

subfund of PSG Global Funds Sicav plc. The por�olio’s investment strategy will

a�empt to reduce the compara�ve risk of loss over an investment period of four or

more years. The por�olio aims to achieve capital growth over the long term, with

the genera�on of income not being a main objec�ve of the por�olio.

The fund aims to outperform the average of the world's equity markets, as

represented by the MSCI World Free NR USD Index (in ZAR) (the "Benchmark").


2014 2013 2012

Return

Best Month

Worst Month 1.65

3.91

10.74

6.15

3.62 16.04

10.59 48.83

4.02



This fund feeds all investments directly to the PSG Global Equity SubFund, a fund which

invests solely in equi�es. This fund aims to produce the highest real (above infla�on)

returns over the longterm. The fund sits at the top end of the risk/return spectrum and

investors should be comfortable with stock market fluctua�ons and should have an

investment horizon of at least four years. Please refer to the Minimum Disclosure

Document of the PSG Global Equity SubFund for full informa�on on the fund.

Sector

Benchmark


Fund Managers

Fund Launch Date

Fund Size (ZAR)

Global Equity General

MSCI World Free NR USD Index (in ZAR)

No

Greg Hopkins and Philipp Wörz

3 May 2011

105 465 237

PSG Global Equity Feeder Fund Class AMinimum Disclosure Document as at 31 August 2015

The PSG Global Equity Feeder Fund Class A has a Total Expense Ra�o (TER) as listed above. For the period from 1 July 2014 to 30

June 2015 on an annualised basis, the above percentages of the average Net Asset Value of the por�olio was incurred as

charges, levies and fees. The Annual Management Fee of the PSG Global Equity SubFund is included in the TER.


Minimum Investment






191.21

R2000 lump sum

February

0.00c ; 0.00c

2.28

0.86

2.29

RISK CLASSIFICATION

PSG Global Equity Feeder Fund Class AMinimum Disclosure Document as at 31 August 2015

Who should invest in the PSG Global Equity Feeder Fund?


��

seek an equityfocused por�olio that has outstanding growth poten�al

aim to maximise poten�al returns within a moderate risk investment

focus on a longterm investment horizon

Feeder FundA Feeder Fund is a por�olio which, apart from assets in liquid form, invests in a

single por�olio of a collec�ve investment scheme, which levies its own charges and

which could result in a higher fee structure for the feeder fund.


























































Securi�es Ltd.



[email protected].



annual reports.


%

United States 43

United Kingdom 14

Africa 2

Europe 12

Asia 8

Canada 5

Singapore 1

Cash 15

Total 100



Markel Corp

J Sainsbury plc




Microso� Corp

United Technologies Corp

Daimler AG

Cisco Systems Inc

HOW THE FUND HAS PERFORMED SINCE 10 April 2013 (Cumula�ve) ANNUALISED PERFORMANCE % (a�er fees)

Re

turn

1 year 2 year Incep�on0.0

5.0

10.0

15.0

20.0

25.0

30.0

35.0

14.7 14.9

20.3

32.4

21.9

26.7

PSG Global Flexible Feeder Fund A (Performance) US CPI+6% (USD) (Benchmark)

2013 2014 2015100.0

110.0

120.0

130.0

140.0

150.0

160.0

170.0

180.0

PSG Global Flexible Feeder Fund A (Performance) US CPI+6% (USD) (Benchmark)


The PSG Global Flexible Feeder Fund is a Rand denominated Feeder Fund, feeding

solely into the PSG Global Flexible SubFund, denominated in US Dollars and a sub

fund of PSG Interna�onal Funds SICAV plc. The fund will mainly invest in equi�es,

debt instruments or money market instruments and exposure will vary in

accordance with changing markets and economic trends.

The fund aims to achieve superior medium to long term capital growth through

exposure to selected sectors of the global equity market, and/or bond market and/

or money market.



2014

Return

Best Month

Worst Month

10.41

3.97

3.90


This fund feeds all investments directly to the PSG Global Flexible SubFund, a fund that

currently invests across selected sectors of global equi�es, bonds or money market

instruments. This fund has a flexible asset alloca�on mandate and equity exposure will be

varied based on opportunity. Investors in this fund should be comfortable with stock

market fluctua�ons and should have an investment horizon of at least four years. Please

refer to the Minimum Disclosure Document of the PSG Global Flexible SubFund for full

informa�on on the fund.

Sector

Benchmark


Fund Managers

Fund Launch Date

Fund Size (ZAR)

Global Mul� Asset Flexible

US Infla�on +6%

No

Jan Mouton and Philipp Wörz

10 April 2013

545 166 093

PSG Global Flexible Feeder Fund Class AMinimum Disclosure Document as at 31 August 2015

The PSG Global Flexible Feeder Fund Class A has a Total Expense Ra�o (TER) as listed above. For the period from 1 July 2014 to

30 June 2015 on an annualised basis, the above percentages of the average Net Asset Value of the por�olio was incurred as

charges, levies and fees. The Annual Management Fee of the PSG Global Flexible SubFund is included in the TER.


Minimum Investment


Latest Distribu�on (cpu) 28 Feb. 15 ; 28 Feb. 14




155.57

R2000 lump sum

February

0.00c ; 0.00c

2.28

0.86

2.13

RISK CLASSIFICATION

PSG Global Flexible Feeder Fund Class AMinimum Disclosure Document as at 31 August 2015

Who should invest in the PSG Global Flexible Feeder Fund?


��

want a managed solu�on in offshore markets

want to diversify their holdings across the world

focus on a medium to longterm investment horizon

Feeder Fund

A Feeder Fund is a por�olio which, apart from assets in liquid form, invests in a




















Performance











Pricing




Fees













Cut-off �mes



Company details

















Securi�es Ltd.

Trustee



[email protected].




annual reports.


%

United States 43

United Kingdom 14

Africa 2

Europe 12

Asia 8

Canada 5

Singapore 1

Cash 15

Total 100



Markel Corp

J Sainsbury plc




Microso� Corp

United Technologies Corp

Daimler AG

Cisco Systems Inc

HOW THE FUND HAS PERFORMED SINCE 10 April 2013 (Cumul�ve) ANNUALISED PERFORMANCE % (a�er fees)

Re

turn

1 year 2 year Incep�on0.0

5.0

10.0

15.0

20.0

25.0

30.0

35.0

20.9

15.415.2

32.4

21.9

26.7

PSG Global Flexible Feeder Fund B (Performance) US CPI+6% (USD) (Benchmark)

2013 2014 2015100.0

110.0

120.0

130.0

140.0

150.0

160.0

170.0

180.0

PSG Global Flexible Feeder Fund B (Performance) US CPI+6% (USD) (Benchmark)


The PSG Global Flexible Feeder Fund is a Rand denominated Feeder Fund, feeding

solely into the PSG Global Flexible SubFund, denominated in US Dollars and a sub

fund of PSG Interna�onal Funds SICAV plc. The fund will mainly invest in equi�es,

debt instruments or money market instruments and exposure will vary in

accordance with changing markets and economic trends.

The fund aims to achieve superior medium to long term capital growth through

exposure to selected sectors of the global equity market, and/or bond market and/

or money market.



2014

Return

Best Month

Worst Month

10.97

4.01

3.82


This fund feeds all investments directly to the PSG Global Flexible SubFund, a fund that

currently invests across selected sectors of global equi�es, bonds or money market

instruments. The fund has a flexible asset alloca�on mandate and equity exposure will be

varied based on opportunity. Investors in this fund should be comfortable with stock

market fluctua�ons and should have an investment horizon of at least four years. Please

refer to the Minimum Disclosure Document of the PSG Global Flexible SubFund for full

informa�on on the fund.

Sector

Benchmark


Fund Managers

Fund Launch Date

Fund Size (ZAR)

Global Mul� Asset Flexible

US Infla�on +6%

No

Jan Mouton and Philipp Wörz

10 April 2013

545 166 093

PSG Global Flexible Feeder Fund Class BMinimum Disclosure Document as at 31 August 2015

The PSG Global Flexible Feeder Fund Class B has a Total Expense Ra�o (TER) as listed above. For the period from 1 July 2014 to

30 June 2015 on an annualised basis, the above percentages of the average Net Asset Value of the por�olio was incurred as

charges, levies and fees. The Annual Management Fee of the PSG Global Flexible SubFund is included in the TER.


Minimum Investment


Latest Distribu�on (cpu) 28 Feb. 15 ; 28 Feb. 14




157.39

R2000 lump sum

February

0.00c ; 0.00c

2.28

0.29

1.56

RISK CLASSIFICATION

PSG Global Flexible Feeder Fund Class BMinimum Disclosure Document as at 31 August 2015

Who should invest in the PSG Global Flexible Feeder Fund?


��

want a managed solu�on in offshore markets

want to diversify their holdings across the world

focus on a medium to longterm investment horizon

Feeder Fund

A Feeder Fund is a por�olio which, apart from assets in liquid form, invests in a




















Performance











Pricing




Fees













Cut-off �mes



Company details

















Securi�es Ltd.

Trustee



[email protected].




annual reports.


psg equity fund classa...psg equity fund classa minimum disclosure document and fact sheet as at 31...

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