Information for retirement fund members
The Allan Gray Umbrella Retirement Fund (comprising the Allan Gray Umbrella Pension Fund and Allan Gray Umbrella Provident Fund) is administered by Allan Gray Investment Services (Pty) Ltd, an authorised administrative financial services provider and approved pension funds administrator under section 13B of the Pension Funds Act 24 of 1956. Allan Gray (Pty) Ltd, also an authorised financial services provider, is the sponsor of the Allan Gray retirement funds. The underlying investment options of the Allan Gray individual products are portfolios of collective investment schemes in securities (unit trusts or funds) and life-pooled investments.

Information and content
The information in and content of this tool are provided by Allan Gray as general information about the company and its products and services. Allan Gray does not guarantee the suitability or potential value of any information or particular investment source. The information provided is not intended to nor does it constitute financial, tax, legal, investment or other advice. Before making any decision or taking any action regarding your finances, you should consult a qualified financial adviser. Nothing contained in this tool constitutes a solicitation, recommendation, endorsement or offer by Allan Gray; it is merely an invitation to do business. Allan Gray has taken and will continue to take care that all information provided, in so far as this is under its control, is true and correct. However, Allan Gray shall not be responsible, and therefore disclaims any liability, for any loss, liability, damage (whether direct or consequential) or expense of any nature whatsoever, which may be suffered as a result of or which may be attributable, directly or indirectly, to the use of or reliance on any information provided.

Performance
Collective investment schemes in securities and life-pooled investments (funds) are generally medium- to long-term investments. The value of units may go down as well as up and past performance is not necessarily a guide to future performance. 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 cause the value of underlying international investments to go up or down.

The applicable fund provider does not provide any guarantee regarding the capital or the performance of the fund. Performance figures are provided by the investment manager and are for lump sum investments with income distributions reinvested.

Assumptions
For the calculated results, we assumed inflation is 6% per year, the growth/investment return is 10% per year (inflation at 6% plus 4%) and the investment grows at a steady rate each year (no volatility is taken into account). The projection of your monthly income in retirement is based on the recommended drawdown rates for living annuities in the Financial Sector Conduct Authority (FSCA) draft conduct standard. At the time of creating the tool, this conduct standard on sustainable income levels was not yet finalised and is therefore subject to change; the rates may be replaced once finalised.

Important reminder: All values shown are indicative based on the information given. Past performance is not an indication of future performance and investment returns are not guaranteed. This tool is not a financial planning tool.