Investec Active Quants Fund
MANAGEMENT Fund Manager's Comment
Grant Irvine-Smith, BSc Eng (Civil), MBA, CFA,
Portfolio manager Grant focuses on the investment process, risk management and index products within Investec Asset Management's investment team. He is also the portfolio manager for the Investec Index Fund unit trust. Grant joined Investec Asset Management in 2000 where he spent a brief period on the dealing desk. Prior to that Grant worked for Murray - Roberts as section engineer on a complex bridge project, the first of its kind in South Africa. The project was recognised for Engineering Excellence by the Engineering Council of South Africa. Grant then contracted in London on various engineering projects, before returning to South Africa to study towards his Master of Business Administration (MBA) qualification. Grant graduated as a gold medallist from the University of Cape Town with an MBA in 1999. In addition he holds a Bachelor of Science (Engineering) (Civil) degree from the University of the Witwatersrand and is a Chartered Financial Analyst charter holder.

Investment Objective The Investec Active Quants Fund aims to provide investors with capital growth over the long-term. Its objective is to achieve returns well in excess of the FTSE/JSE Shareholder Weighted Index (SWIX), measured over three-year periods. Strategy The fund invests in a wide range of South African equities. The investment team uses Investec's proprietary research platform, which focuses on three sector groupings: resources, industrials and financials. Fundamental research is complimented by a quantitative stock selection model. This proprietary model forecasts equity returns and differentiates prospective stock winners from losers. The basic philosophy behind the quantitative model is to buy stocks that show value relative to long-term fundamentals, are benefiting from improving medium-term sentiment and are oversold in the short-term. Risk management also forms an integral part of the investment process. Fund Features * A specialist equity fund for investors seeking capital growth over the long-term. * A well diversified equity portfolio with no significant style exposures. * Fund aims to provide incremental returns in excess of the benchmark on a consistent basis. * Lower volatility than sector specific equity funds but higher volatility than balanced funds.

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SectorSouth African-Equity-General
Sector Rank: out of 0
(lump sum over years to 30 JUN 2019)
Overall Rank: out of 0
(lump sum over years to 30 JUN 2019)
R1000 invested on was worth R at
(% annual compound return)
R100 per month since was worth R at
(% annual return compounded monthly)
Formation Date:01 APR 2005 Holdings:37
Original Price:105 Pricing:Forward
Top Holdings on 30 JUN 2019
Share (Sector)No.Value% of Fund
ANGLO (Mining)243,49398,030,282 8.77 %
BATS (Tobacco)138,08468,282,538 6.11 %
SPAR (Food - Drug Retailers)285,00253,246,924 4.76 %
STANBANK (Banks)536,141105,442,850 9.43 %
ADCOCK (Pharmaceuticals - Biotechnology)95,9005,715,640 0.51 %
SUPRGRP (Industrial Transportation)1,090,11835,853,981 3.21 %
CASH (Cash on call)017,144,287 1.53 %
NASPERS-N (Software - Computer Services)21,24172,634,024 6.50 %
TELKOM (Fixed Line Telecommunications)525,89348,482,076 4.34 %
TOTAL R504,832,60245.16%

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