28 February 2018

Absa Growth Personal Portfolio (previously named the Absa Aggressive Personal Portfolio) Minimum Disclosure Document

Portfolio
Fund
Risk Objective
Objective
Disclaimer Risk
Fund Profile
Strategy
TER Disclaimer
Low | Low Medium Please note: the TER has been calculated applying the
The Absa Growth Personal Portfolio provides investors access to capital growth over the long term and may exhibit
• Generally low risk portfolios have minimal equity exposure or no equity exposure, resulting in far less volatility than a service
Low charge of the portfolio.
Low – Medium Medium The TER –isHigh
Medium disclosed
High as
high levels of return volatility and possibly capital loss over the short term.
more aggressive mandated portfolio and in turn the probability of capital loss (permanent/temporary)is less likely. % of the average Net Asset Value of the portfolio that
• However, expected potential long term investment returns could be lower over a medium to long term. were incurred as charges, levies and fees related to the
The portfolio is managed according to the guidelines as set out in Regulation 28 of the Pension Fund Act and is
Medium | Medium – High management of the portfolio and underlying
suitable for pension fund investment selection.
• These portfolios generally hold more equity exposure than low risk portfolios but less than high risk portfolios. 3 portfolios.
months + 6The TER +is adjusted
months 2 years + for significant
3 years + 5 years +
• In turn the expected volatility is higher than low risk portfolios, but less than high risk portfolios. subsequent portfolio restructurings and/or fee
The portfolio invests in a mix of South African and international equities, fixed income, property and money market
• The probability of losses are higher than that of the low risk portfolios, but less than high risk portfolios. changes.
instruments. Where deemed appropriate, the portfolio manager may also make use of ETF’s and Collective Investment
• Expected potential long term investment returns could therefore be lower than high risk portfolios due to lower equity
Scheme instruments to provide the most optimal blend of assets.
exposure, but higher than low risk portfolios. A higher TER ratio does not necessarily imply a poor
High return, nor does a low TER imply a good return. The
• Generally these portfolio’s hold more equity exposure than any other risk profiled portfolios therefore tend to carry current TER cannot be regarded as an indication of
Indicative Security
higher volatility.
Selection AssetDetails
Fund Allocation
future TER’s.
• Expected potential long term returns could be higher than other risk profiles, in turn potential losses of capital could be
SA Equities
higher 34.50 SA Property 9.00 SA Bonds 12.00
Naspers 8.53 Growthpoint 2.77 R204 4.00
Asset Allocation
FirstRand 2.79 Redefine Fund Holdings
2.49 R207 4.00
INFORMATION AND DISCLOSURES
Discovery 2.43 Hyprop 1.69 R186 4.00
Portfolio Allocation
Richemont 2.37 SA Corp 0.74
Anglo American 2.23 Vukile 0.67 SA Cash 1.50
BHP Billiton 2.12 Resilient 0.65 Coronation Jibar + 0.00
BATS 2.01 Portfolio cash 1.50
Sanlam 1.85
Old Mutual 1.49 Offshore Equity 24.50
Dis-chem 1.35 Sygnia Itrix
Bidcorp 1.15 MSCI World ETF 12.25
Remgro 1.14
Sasol 1.14 SA Alternatives 18.50 Sygnia Itrix Our philosophy is rooted in strategic asset
Mondi plc 1.05 Coronation Bal MSCI US ETF 12.25 allocation (SAA). Diversification benefits are
achieved as each asset class does not
Steinhoff Africa 0.97 Defensive Fund 18.50 respond in the same manner to market
Aspen 0.96
FAIS conflict of Interest Disclaimer movements,
Risk Profile and as such, asset allocation is
the primary driver of both investment
Bidvest
Please 0.93may be a related party to the co naming partner and/or BCI. It is your financial advisor’s responsibility
note that your financial advisor
performance
Low
to disclose Medium
all fees he/she
and portfolio
Low-Medium risk. receives from
Medium-High High
any related party. The portfolio’s TER includes all fees paid by portfolio to BCI, the trustees, the auditors, banks, the co-naming partner, underlying portfolios, and any other investment
Trailing Returns as well as distribution fees and LISP rebates,
consultants/managers Performance
if applicable. The portfolio’s performance numbers are calculated net of the TER expenses. The investment
manager earns a portion
Data Point: Return of the service charge and performance fees where applicable. In some instance portfolios invest in other portfolios 6which
3 Months+ forms2part
Months+ of the 3BCI
Years+ Schemes.
Years+ 5 Years+
These investments will be detailed in this document, as applicable. Portfolio
1 Month 3 Months Since Inception
Portfolio Details
Disclaimer BCI
Investment
Boutique performance
Collective Investments (RF) (Pty) Ltd (“BCI”) is a registered Manager of the Boutique Collective Investments Scheme, approved IncomeinDistribution
Benchmark: 50%of
terms FTSE
the JSE(cpu)
TOP40Investments
Collective J400T, 7%
Schemes Control Act, No 45 of 2002 and is a full member of the Association for Savings and Investment SA. Collective Investment ALBI, 15% FTSE
Schemes JSE J253T
in securities Property,
are 25%
generally MSCI to long
medium
term investments. The value of participatory interests may go up or down and past performance is not necessarily an indication World, 3%
of future SteFI over a The
performance. rolling 12 month
Manager period
does not
To date
guarantee Portfolio
the capital or the return of a portfolio. Collective Investments are 1Yrtraded at ruling prices and can 5Yr
engage in borrowing and scriplending. A schedule of fees, charges and
maximum commissions
28 February 2018 is available on request. BCI reserves the right to close
Actual and reopen certain
Return portfolios from
Back-tested time to time in Minimum
Return Investment:
order to manage them R250,000
more efficiently. Additional
information, including application forms, annual or quarterly reports can be obtained from BCI, free of charge. Performance fees are calculated and accrued on a daily basis based upon
the daily outperformance, in excess of the benchmark, multiplied by the share rate and paid over to the manager monthly. Performance Management
figuresfee: 0.80%
quoted are (excl
from VAT)
Morningstar, as at the
date of this document for a lump sum investment, using NAV-NAV with income reinvested and do not take any upfront manager’s charge into account. Income distributions are
declared
Low Risk
on the ex-dividend date. Actual Preserver 7.88% 8.87%
Cumulative Performance (sinceinvestment
inception) performance will differ based on the initial fees charge applicable, the actual investment date, the date of reinvestment and
Fees
dividend withholding tax. Investments in foreign securities may include additional risks such as potential constraints on liquidity Licensing and repatriation Requirements
of funds, macroeconomic risk, political
Moderate
risk, foreign exchange Risk Accumulation
risk, tax risk, settlement risk as well as potential 6.72% 8.45%information. Boutique Collective Investments (RF) Pty Ltd retains full
limitations on the availability of market
legal responsibility for the third party named portfolio. Although reasonable steps have been taken to ensure the validity and accuracy of the information in this document, BCI does not
Money Market
accept anyHigh Risk for any claim, damages,
responsibility Growth loss or expense, however 7.56% 9.89%
it arises, out of or in connection with the information in this document, whether by a client, investor 1.9 or
Instruments
intermediary. This document should not be seen as an offer to purchase any specific product and is not to be construed as advice or guidance in any form whatsoever. Investors are
encouraged to obtain
Figures represent independent
actual professional
portfolio performance investment
after all fees for the and taxation
one-year periodadvice before investing
with back-tested with or in any
passive performance of BCI/the Manager’s products.
for five-years. Bonds 1.12

Long and Short Term

Focus on the asset allocation process has led to strong long-term performance on the three risk profiles. Deposit
1.17 & 1.18
The figures are an indication of investment excellence for a given mandate (low/medium/high risk
multi-asset class), rather than as an expected return for each investor. Collective Investment
1.14
Schemes

Equity (Local and

1.8
Offshore)
These FAIS category licence requirements pertain to advice on
direct portfolios. Those portfolios within a life wrapper only
require the life categories for representatives to provide advice.
Absa Growth Personal Portfolio Minimum Disclosure Document

FundDisclaimer
Risk Objective Fund Strategy
TER Disclaimer

The Effective Annual Cost (EAC) is a measure which has been introduced to allow you to compare the cost you incur when you invest in different
financial products. It is expressed as a percentage of your investment amount. The EAC is made up of four charges, which are added together, as
shown in the table below. Some of the charges may vary, depending on your investment period. The EAC calculation assumes that an investor
terminates his or her investment in the financial product at the end of the relevant periods shown in the table. “Investment Management” includes
transactions costs where it is assumed that 10% of the portfolio is bought and sold during the year.

Charges 1 Year 3 Years 5 Years Term to Maturity 10 Years

Investment Management 1.43% 0.99% Fund Details

0.90% 0.84%
Advice 0.68% 0.68% 0.68% 0.68%
Other
Asset Allocation 0.41%
Fund Holdings 0.41% 0.41% 0.41%
INFORMATION AND DISCLOSURES
Effective Annual Cost 2.52% Portfolio Allocation
2.08% 2.00% 1.93%

Risk Disclaimer
Low
Low | |Low
LowMedium
Medium Please note: the TER has been calculated applying the
Generally low
•• Generally lowrisk portfolios
risk portfolioshavehave
minimal equityequity
minimal exposure or no equity
exposure or noexposure, resulting in resulting
equity exposure, far less volatility
in far than
less avolatilityservice
than acharge
moreofaggressive
the portfolio. The TER is
mandated disclosed as
portfolio
morein
and aggressive
turn the mandated
probability portfolio and in
of capital turn(permanent/temporary)is
loss the probability of capital lossless
(permanent/temporary)is
likely. less likely. % of the average Net Asset Value of the portfolio that
• However, expected potential long term investment returns could be lower over a medium to long term. were incurred as charges, levies and fees related to the
• However, expected potential long term investment returns could be lower over a medium to long term.
Medium | Medium – High management of the portfolio and underlying
• These portfolios
Medium | Medium generally
– Highhold more equity exposure than low risk portfolios but less than high risk portfolios. portfolios. The TER is adjusted for significant
• In turn the expected volatility is higher than low risk portfolios, but less than high risk portfolios. subsequent portfolio restructurings and/or fee
• These portfolios generally hold more equity exposure than low risk portfolios but less than high risk portfolios.
• The probability of losses are higher than that of the low risk portfolios, but less than high risk portfolios. changes.
•• In turn the
Expected expected
potential long volatility is higher
term investment thancould
returns low risk portfolios,
therefore be lowerbut lesshigh
than than
riskhigh risk portfolios.
portfolios due to lower equity
• The probability of losses are higher than
exposure, but higher than low risk portfolios. that of the low risk portfolios, but less than high risk portfolios. A higher TER ratio does not necessarily imply a poor
Expected potential long term investment returns could therefore be lower than high risk portfolios due to lower
•High equity
return, norexposure,
does a low but
TER higher
imply a than
good low risk
return. The
• portfolios.
Generally these portfolio’s hold more equity exposure than any other risk profiled portfolios therefore tend to carry current TER cannot be regarded as an indication of
higher volatility. future TER’s.
High
• Expected potential long term returns could be higher than other risk profiles, in turn potential losses of capital could be
• Generally
higher these portfolios hold more equity exposure than any other risk profiled portfolios therefore tend to carry higher volatility.
• Expected potential long term returns could be higher than other risk profiles, in turn potential losses of capital Risk couldProfile
be higher.
FAIS conflict of Interest Disclaimer
Please note that your financial advisor may be a related party to the co naming partner and/or BCI. It is your financial advisor’s responsibility to disclose all fees he/she receives from
Disclaimer
any andportfolio’s
related party. The FAIS Notice Low Low-Medium Medium Medium-High High
TER includes all fees paid by portfolio to BCI, the trustees, the auditors, banks, the co-naming partner, underlying portfolios, and any other investment
Trailing Returns Performance
consultants/managers as well as distribution fees and LISP rebates, if applicable. The portfolio’s performance numbers are calculated net of the TER expenses. The investment
This brochure/document/material/report/communication/commentary
manager earnsReturn (“thiswhere
a portion of the service charge and performance fees commentary”) has been
applicable. prepared
In some by Absa
instance Stockbroking
portfolios and
invest inPortfolio
other Management.
portfolios
Data Point: 3 Months+ 6which forms2part
Months+ of the 3BCI
Years+ Schemes.
Years+ 5 Years+
These investments will be detailed in this document, as applicable. Portfolio
This document together with1any associated
Month verbalSince
3 Months presentation are provided on the express understanding that the information contained therein would be regarded and treated as proprietary to Absa
Inception
Stockbrokers and Portfolio Management. This document and associated presentation shall not be reproduced or used, in whole or in part, for any purpose other than for the consideration of the information
Disclaimer
set out therein,BCI
without the prior written consent of Absa Stockbrokers and Portfolio Management.
Boutique Collective Investments (RF) (Pty) Ltd (“BCI”) is a registered Manager of the Boutique Collective Investments Scheme, approved IncomeinDistribution (cpu) Investments
terms of the Collective
This document and any associated verbal presentation have been prepared solely for information purposes by Absa Stockbrokers and Portfolio Management and accordingly do not constitute an offer, a
Schemes Control Act, No 45 of 2002 and is a full member of the Association for Savings and Investment SA. Collective Investment Schemes in securities are generally medium to long
solicitation of an offer, invitation to acquire any security or to enter into any agreement, or any advice or recommendation to conclude any transaction (whether on the indicative terms or otherwise) and
term
mustinvestments.
not be deemed The value of participatory interests may go up or down and past performance is not necessarily an indication of future performance. The Manager does not
as such.
guarantee the capital
Any information, or theprices,
illustrative returndisclosure
of a portfolio. Collective
materials or analysesInvestments
provided to areyou traded
have been at ruling
preparedprices and can engage
on assumptions in borrowing
and parameters and scriplending.
that reflect A schedulebyofAbsa
good faith determinations fees,Stockbrokers
charges and and
maximum commissions
Portfolio Management andisdo available on request.
not constitute BCIAbsa
advice by reserves the right
Stockbrokers andtoPortfolio
close and reopen certain
Management portfolios
and it should not befrom
reliedtime
upontoastime
such.inTheorder to manage
information, them more
assumptions and efficiently.
parameters used Additional
are not
information, including application forms, annual or quarterly reports can be obtained from BCI, free of charge. Performance fees are calculated and accrued on a daily basis basedorupon
the only ones that might reasonably have been selected and therefore no guarantee is given as to the accuracy, completeness, or reasonableness of any such information, quotations, disclosure
theanalyses. The past performance
daily outperformance, of any of
in excess securities or other products
the benchmark, is not by
multiplied an the
indication
shareofrate
future
andperformance.
paid over toNothe representation or warranty
manager monthly. is made that any
Performance indicative
figures quotedperformance
are fromorMorningstar,
return indicatedaswill
at the
be achieved in the future.
date of this document for a lump sum investment, using NAV-NAV with income reinvested and do not take any upfront manager’s charge into account. Income distributions are
declared on the ex-dividend
Cumulative
This document with date.
Performance
together Actual
(sinceinvestment
any associated inception)
verbal performance
presentation is not an will differ
official based onofthe
confirmation initial
terms, does fees
notcharge
representapplicable,
an expressthe actual
or implied investment
Fees
offer, nor doesdate, theany
it create date of reinvestment
liability or obligation onandAbsa
dividend withholding
Stockbrokers tax. Investments
and Portfolio Management. in Any foreign securities
rates, levels mayquoted
and prices includeherein
additional riskspresented
or verbally such asare potential constraints
indicative on liquidity
only and although andofrepatriation
reflective of funds,
market conditions macroeconomic
prevailing at the relevantrisk,
timepolitical
do
risk,
notforeign exchange
constitute an offer torisk, tax risk,
transact settlement
at such levels andrisk
are as well as
supplied forpotential
illustrativelimitations
purposes only.on the
Any availability
transaction or ofagreement
market information. Boutique
to perform certain Collective
services that mayInvestments
be concluded (RF)
pursuantPty to
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retains full
document
and/or
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for the presentation
third party named shall be in termsAlthough
portfolio. of and confirmed by thesteps
reasonable signinghaveof appropriate
been takendocumentation,
to ensure theon terms and
validity to beaccuracy
agreed between
of the the relevant parties.
information in thisThe information
document, BCIindoes
the not
document
accept and any verbal presentation
any responsibility for any claim,accompanying
damages, itlossare or
alsoexpense,
subject tohowever
change without notice.
it arises, outAbsa
of orStockbrokers
in connection and with
Portfolio
theManagement,
informationorinan associated
this document, company, may have
whether by a effected or may effect
client, investor or
transactions for its own account in any investment outlined in this document or any associated verbal presentation or any investment related to such an investment. Prospective investors should obtain
intermediary. This document should not be seen as an offer to purchase any specific product and is not to be construed as advice or guidance in any form whatsoever. Investors are
independent advice in respect of any product detailed in this document and/or associated verbal presentation, as Absa Stockbrokers and Portfolio Management provides no opinion or advice including
encouraged
investment, totaxobtain
or legalindependent
advice and makes professional investment
no representation and taxation
or warranty about theadvice before
suitability investing
of a product for with or in any
a particular clientoforBCI/the Manager’s
circumstance. products.
Transactions described in this document and any associated
verbal presentation may give rise to substantial risk and are not suitable for all investors. Absa Stockbrokers and Portfolio Management will only provide investment advice if specifically agreed to by Absa
Stockbrokers and Portfolio Management in appropriate documentation, signed by Absa Stockbrokers and Portfolio Management. This information is to be used at your own risk, and Absa Stockbrokers and
Portfolio Management makes no representation with regards to the correctness of the information herein. By accepting this document, you agree to be bound by the foregoing terms and limitations.

The value of your investments can fall as well as rise and you may get back less than you initially invested. Investing is not for everyone. If you are unsure please seek independent financial advice. Past
performance of any securities or other products is not an indication of future performance.

Absa Stockbrokers and Portfolio Management Pty Limited is a Member of the JSE Equity Market, Registered Credit Provider Reg. No. NCRCP68, and an Authorised Financial Services Provider with FSP No
45849. Absa Stockbrokers and Portfolio Management is a wholly owned subsidiary of Barclays Africa Group Ltd and complies with Absa's privacy and security policies. However, business is conducted
directly with Absa Stockbrokers and Portfolio Management (Pty) Ltd.