Important information for investors

Allan Gray Unit Trust Management (RF) Proprietary Limited (the ‘Management Company’) is registered as a management company under the Collective Investment Schemes Control Act 45 of 2002. Allan Gray Proprietary Limited (the ‘Investment Manager’), an authorised financial services provider, is the appointed investment manager of the Management Company and is a member of the Association for Savings & Investment South Africa (ASISA). Collective Investment Schemes in Securities (unit trusts) are generally medium- to long-term investments. Except for the Allan Gray Money Market Fund, where the Investment Manager aims to maintain a constant unit price, the value of units may go down as well as up. Past performance is not necessarily a guide to future performance. The Management Company does not provide any guarantee regarding the capital or the performance of its unit trusts. Unit trusts may be closed to new investments at any time in order for them to be managed according to their mandates. Unit trusts are traded at ruling prices and can engage in borrowing and scrip lending.

Performance figures are for lump sum investments with income distributions reinvested. Actual investor performance may differ as a result of the investment date, the date of reinvestment and dividend withholding tax. Movements in exchange rates may also be the cause of the value of underlying international investments going up or down. Unit trust prices are calculated on a net asset value basis, which is the total market value of all assets in the unit trust including any income accruals and less any permissible deductions from the unit trust, divided by the number of units in issue. Forward pricing is used and fund valuations take place at approximately 16:00 each business day. Purchase and redemption requests must be received by 14:00 each business day to receive that day’s price. Unit trust prices are available daily on our prices page. Permissible deductions may include management fees, brokerage, Securities Transfer Tax (STT), auditor’s fees, bank charges and trustee fees. A schedule of fees, charges and maximum commissions is available on request from the Management Company.

Annualised return
This is a way of reporting the return earned over a period as a percentage per year. Although the figure stated implies that the same percentage return was delivered every year, the actual return in each year may have been more or less than the reported figure, depending on the unit trust’s volatility. Annualised performance reporting simplifies comparison across different time periods and across different types of investments. You may request the actual annual figures per year.

The FTSE/JSE All Share Index is calculated by FTSE International Limited (‘FTSE’) in conjunction with the JSE Limited (‘JSE’) in accordance with standard criteria. The FTSE/JSE All Share Index is the proprietary information of FTSE and the JSE. All copyright subsisting in the FTSE/JSE All Share Index values and constituent lists vests in FTSE and the JSE jointly. All their rights are reserved. FTSE is a trademark of the London Stock Exchange Group of Companies. The FTSE World Index is calculated by FTSE International Limited (‘FTSE’) in accordance with standard criteria and is the proprietary information of FTSE. All copyright subsisting in the FTSE World Index values and constituent lists vests in FTSE. All its rights are reserved. 

Investors must make sure that they understand the nature of their choice of unit trust and that their investment objectives are aligned with those of the unit trust(s) they select.

The Allan Gray Money Market Fund is not a bank deposit account. The unit trust aims to maintain a constant price of 100 cents per unit. The total return an investor receives is made up of interest received and any gain or loss made on instruments held by the unit trust. While capital losses are unlikely, they can occur if, for example, one of the issuers of an instrument defaults. In this event investors may lose some of their capital. To maintain a constant price of 100 cents per unit, investors’ unit holdings will be reduced to the extent of such losses. The yield is calculated according to the applicable ASISA Standards. Excessive withdrawals from the Fund may place it under liquidity pressure; if this happens withdrawals may be ring-fenced and managed over a period of time. 

The Allan Gray Retirement Annuity Fund, is administered by Allan Gray Investment Services Proprietary Limited, an authorised administrative financial services provider and approved under s13B of the Pension Funds Act as a benefits administrator. The underlying investment options of the Allan Gray retirement products are portfolios of Collective Investment Schemes in Securities (unit trusts).

The Allan Gray Tax-Free Investment Account is provided by Allan Gray Life Limited, an authorised financial services provider, licensed under the Long-Term Insurance Act 52 of 1998. Allan Gray Life Limited is a subsidiary of Allan Gray Proprietary Limited (Allan Gray). The Allan Gray Tax-Free Investment account is administered by Allan Gray Investment Services Proprietary Limited, an authorised administrative financial services provider. The underlying investment options of the Allan Gray individual life products are portfolios of Collective Investment Schemes in Securities (unit trusts or funds).

The Pension Preservation Fund and the Allan Gray Provident Preservation Fund are administered by Allan Gray Investment Services Proprietary Limited, an authorised administrative financial services provider and approved under s13B of the Pension Funds Act as a benefits administrator. The underlying investment options of the Allan Gray retirement products are portfolios of Collective Investment Schemes in Securities (unit trusts).

The Allan Gray Living Annuity is underwritten by Allan Gray Life Limited, also an authorised financial services provider and licensed under the Long-Term Insurance Act 52 of 1998. The underlying investment options are portfolios of Collective Investment Schemes in Securities (unit trusts or funds).

The Allan Gray Endowment is underwritten by Allan Gray Life Limited, also an authorised financial services provider and licensed under the Long-Term Insurance Act 52 of 1998. The underlying investment options are portfolios of Collective Investment Schemes in Securities (unit trusts).

Allan Gray Bermuda Limited is the investment manager of the Allan Gray Africa ex-SA Bond Fund and the Allan Gray Africa ex-SA Equity Fund (the ‘Funds’). The Funds are incorporated and registered under the laws of Bermuda and are supervised by the Bermuda Monetary Authority. The Funds are also listed on the Bermuda Stock Exchange. The Investment Manager has appointed Allan Gray Unit Trust Management (RF) Proprietary Limited (the ‘Representative’) as its representative for the purpose of approval in terms of the Collective Investment Schemes Control Act 45 of 2002. The Representative is incorporated under the laws of South Africa and is supervised by the Financial Services Board (‘FSB’). Collective Investment Schemes in Securities (unit trusts or mutual funds) are generally medium- to long-term investments. Where annualised performance is mentioned, this refers to the average return per year over the period. The value of shares may go down as well as up and past performance is not necessarily a guide to future performance. Movements in exchange rates may cause of the value of underlying international investments to go up or down. Neither the Investment Manager, nor the Funds, nor the Representative provide any guarantee regarding the capital or the performance of the Funds. Performance figures are provided by the Investment Manager and are for lump sum investments with income distributions reinvested. Actual investor performance may differ as a result of the investment date, the date of reinvestment and applicable taxes.

The Funds may be closed to new investments at any time to be managed according to their mandates. Shares in the Funds are traded at ruling prices and the Funds can engage in borrowing and scrip lending. The Funds may borrow up to 10% of the market value of the portfolio to bridge insufficient liquidity. This report does not constitute a financial promotion, a recommendation, an offer to sell or a solicitation to buy shares in the Funds. Investments in the Funds are made according to the terms and conditions and subject to the restrictions set out in the prospectus. The offering of shares in the Funds may be restricted in certain jurisdictions. Please contact the Allan Gray service team to confirm if there are any restrictions applicable to you.

The Allan Gray ex-SA Bond Fund’s (the Fund) benchmark data is provided by JPMorgan Chase & Co. (‘J.P. Morgan’). All information provided herein regarding J.P. Morgan index products (referred to herein as ‘Index’ or ‘Indices’), including without limitation, the levels of the Indices, is provided for informational purposes only and nothing herein constitutes, or forms part of, an offer or solicitation for the purchase or sale of any financial instrument, or an official confirmation of any transaction, or a valuation or price for any product referencing the Indices. Nor should anything herein be construed as a recommendation to adopt any investment strategy or as legal, tax or accounting advice. All market prices, data and other information contained herein is believed to be reliable but J.P. Morgan does not warrant its completeness or accuracy. The information contained herein is subject to change without notice. Past performance is not indicative of future returns, which will vary. J.P. Morgan and/ or its affiliates and employees may hold positions (long or short), effect transactions or act as market maker in the financial instruments of any issuer data contained herein or act as underwriter, placement agent, advisor or lender to such issuer. J.P. Morgan Securities LLC (‘JPMS’) (the ‘Index Sponsor’) does not sponsor, endorse or otherwise promote any security or financial product or transaction (each the ‘Product’) referencing any of the Indices. The Index Sponsor makes no representation or warranty, express or implied, regarding the advisability of investing in securities or financial products generally, or in the Product particularly, or the advisability of any of the Indices to track investment opportunities in the financial markets or otherwise achieve their objective. The Index Sponsor has no obligation or liability in connection with the administration, marketing or trading of any Product. The Index is derived from sources that are considered reliable, but the Index Sponsor does not warrant its c mpleteness or accuracy or any other information furnished in connection with the Index. The Index is the exclusive property of the Index Sponsor and the Index Sponsor retains all property rights therein. JPMS is a member of FINRA, NYSE, SIPC and NFA. JPMorgan Chase Bank, National Association is a member of FDIC. J.P. Morgan Securities plc is authorized by the FSA and is a member of the LSE. J.P. Morgan Europe Limited is authorized by the FSA. J.P. Morgan Equities South Africa Proprietary Limited is a member of the JSE Ltd. and is regulated by the FSB. J.P. Morgan Securities (Asia Pacific) Limited is registered as an investment adviser with the Securities & Futures Commission in Hong Kong and its CE number is AAJ321. J.P. Morgan Securities Singapore Private Limited is a member of Singapore Exchange Securities Trading Limited and is regulated by the Monetary Authority of Singapore (‘MAS’). J.P. Morgan Securities Asia Private Limited is regulated by the MAS and the Financial Services Agency in Japan. J.P. Morgan Australia Limited (ABN 52 002 888 011) is a licensed securities dealer. J.P. Morgan is the marketing name for the investment banking activities of JPMorgan Chase Bank, N.A., JPMS, J.P. Morgan Securities plc (authorized by the FSA and member, LSE) and their investment banking affiliates. Copyright 2018 JPMorgan Chase & Co. All rights reserved.

You can obtain additional information about your proposed investment from Allan Gray free of charge. Simply email info@allangray.co.za or call our Client Service Centre on 0860 000 654.  

The financial services, products or investments referred to on this website are not available to persons resident in jurisdictions where their availability or distribution would contravene local laws or regulations and the information on this website is not intended for use by these persons. This website is for information only and does not in any way constitute a solicitation or offer by Allan Gray Proprietary Limited or any of its associates or subsidiaries (collectively “Allan Gray”) to buy or sell any financial instruments or to provide any investment advice or service.

By selecting one of the countries below I confirm that I have read and understood the above and that:

(a) I am not a South African citizen; or 
(b) I do not reside in the Republic of South Africa; or 
(c) I am not otherwise a person to whom the communication of the information contained in this website is prohibited by the laws of my home jurisdiction; and 
(d) I am not acting for the benefit of any such persons mentioned in (a),(b) and (c) and 
(e) I confirm that any investment with Allan Gray is based on my own initiative and not due to any offer or solicitation by Allan Gray.