Latest prices, factsheets and performance

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Annualised performance
Unit trust as at 31 October 2018
AUM (R billion)
Inception date
Since inception (%)
10 years (%)
5 years (%)
3 years (%)
2 years (%)
1 year (%)
Allan Gray Equity Fund
AUM (R billion)
40.6
Inception date
1 Oct 1998
Since inception (%)
22.0 15.2
10 years (%) Fund Benchmark The market value-weighted average return of unit trusts in the South-African-Equity-General category (excluding Allan Gray funds). Since inception to 28 February 2015 the benchmark was the FTSE/JSE All Share Index including income.
12.8 11.9
5 years (%) Fund Benchmark
7.5 4.2
3 years (%) Fund Benchmark
4.7 0.3
2 years (%) Fund Benchmark
4.9 1.7
1 year (%) Fund Benchmark
-3.9 -9.5
Allan Gray SA Equity Fund
AUM (R billion)
2.8
Inception date
13 Mar 2015
Since inception (%)
4.3 3.2
10 years (%) Fund Benchmark FTSE/JSE All Share Index including income.
- -
5 years (%) Fund Benchmark
- -
3 years (%) Fund Benchmark
3.4 2.1
2 years (%) Fund Benchmark
3.2 4.9
1 year (%) Fund Benchmark
-4.6 -8.4
Allan Gray Balanced Fund
AUM (R billion)
149.9
Inception date
1 Oct 1999
Since inception (%)
16.6 12.1
10 years (%) Fund Benchmark The market value-weighted average return of unit trusts in the South African–Multi Asset–High Equity category (excluding the Allan Gray Balanced Fund). Since inception to 31 January 2013 the benchmark was the market value-weighted average return of the unit trusts in both the Domestic Asset Allocation Medium Equity and Domestic Asset Allocation Variable Equity sectors of the previous ASISA Fund Classification Standard, excluding the Allan Gray Balanced Fund.
11.4 10.1
5 years (%) Fund Benchmark
8.0 5.8
3 years (%) Fund Benchmark
5.9 2.9
2 years (%) Fund Benchmark
5.5 4.7
1 year (%) Fund Benchmark
-1.6 -3.7
Allan Gray Stable Fund
AUM (R billion)
51.1
Inception date
1 Jul 2000
Since inception (%)
12.2 9.0
10 years (%) Fund Benchmark The daily interest rate as supplied by First Rand Bank Limited plus 2%.
9.0 7.6
5 years (%) Fund Benchmark
8.5 7.6
3 years (%) Fund Benchmark
8.1 8.1
2 years (%) Fund Benchmark
7.9 8.1
1 year (%) Fund Benchmark
3.6 7.9
Allan Gray Optimal Fund
AUM (R billion)
1.2
Inception date
1 Oct 2002
Since inception (%)
8.1 6.5
10 years (%) Fund Benchmark The daily interest rate as supplied by FirstRand Bank Limited.
6.8 5.5
5 years (%) Fund Benchmark
8.5 5.5
3 years (%) Fund Benchmark
7.3 5.9
2 years (%) Fund Benchmark
4.9 5.9
1 year (%) Fund Benchmark
6.5 5.8
Allan Gray Bond Fund
AUM (R billion)
1.5
Inception date
1 Oct 2004
Since inception (%)
8.9 8.3
10 years (%) Fund Benchmark JSE All Bond Index.
9.0 8.4
5 years (%) Fund Benchmark
7.9 6.7
3 years (%) Fund Benchmark
8.2 6.6
2 years (%) Fund Benchmark
8.6 6.4
1 year (%) Fund Benchmark
9.4 7.8
Allan Gray Money Market Fund
AUM (R billion)
17.1
Inception date
1 Jul 2001
Since inception (%)
8.0 7.9
10 years (%) Fund Benchmark The Alexander Forbes Short Term Fixed Interest (STeFI) Composite Index. Since inception to 31 March 2003, the benchmark was the Alexander Forbes 3-Month Deposit Index. From 1 April 2003 to 31 October 2011 the benchmark was the Domestic Fixed Interest Money Market Collective Investment Scheme sector excluding the Allan Gray Money Market Fund.
6.9 6.8
5 years (%) Fund Benchmark
7.1 6.8
3 years (%) Fund Benchmark
7.7 7.4
2 years (%) Fund Benchmark
7.9 7.4
1 year (%) Fund Benchmark
7.8 7.2
Allan Gray - Orbis Global Fund of Funds
AUM (R billion)
13.8
Inception date
3 Feb 2004
Since inception (%)
11.2 11.3
10 years (%) Fund Benchmark 60% of the FTSE World Index including income and 40% of the JP Morgan Global Government Bond Index.
11.0 11.7
5 years (%) Fund Benchmark
11.5 12.8
3 years (%) Fund Benchmark
8.9 8.0
2 years (%) Fund Benchmark
7.9 11.3
1 year (%) Fund Benchmark
-3.0 4.3
Allan Gray - Orbis Global Equity Feeder Fund
AUM (R billion)
19.3
Inception date
1 Apr 2005
Since inception (%)
14.8 14.1
10 years (%) Fund Benchmark FTSE World Index including income.
15.0 14.8
5 years (%) Fund Benchmark
13.1 15.7
3 years (%) Fund Benchmark
11.1 11.0
2 years (%) Fund Benchmark
10.7 16.7
1 year (%) Fund Benchmark
-4.5 5.4
Allan Gray - Orbis Global Optimal Fund of Funds
AUM (R billion)
1.2
Inception date
2 Mar 2010
Since inception (%)
8.9 7.2
10 years (%) Fund Benchmark The simple average of the benchmarks of the underlying unit trusts.
- -
5 years (%) Fund Benchmark
7.6 6.6
3 years (%) Fund Benchmark
4.4 3.1
2 years (%) Fund Benchmark
2.9 6.0
1 year (%) Fund Benchmark
-2.1 3.9
Risk measures
Unit trust as at 31 October 2018
Maximum drawdown (%)1
Highest annual return (%)2
Lowest annual return (%)2
Allan Gray Equity Fund
Maximum drawdown (%)1 Fund Benchmark The market value-weighted average return of unit trusts in the South-African-Equity-General category (excluding Allan Gray funds). Since inception to 28 February 2015 the benchmark was the FTSE/JSE All Share Index including income.
-31.3 -45.4
Highest annual return (%)2 Fund Benchmark
125.8 73.0
Lowest annual return (%)2 Fund Benchmark
-20.7 -37.6
Allan Gray Balanced Fund
Maximum drawdown (%)1 Fund Benchmark The market value-weighted average return of unit trusts in the South African–Multi Asset–High Equity category (excluding the Allan Gray Balanced Fund). Since inception to 31 January 2013 the benchmark was the market value-weighted average return of the unit trusts in both the Domestic Asset Allocation Medium Equity and Domestic Asset Allocation Variable Equity sectors of the previous ASISA Fund Classification Standard, excluding the Allan Gray Balanced Fund.
-15.4 -20.5
Highest annual return (%)2 Fund Benchmark
46.1 41.9
Lowest annual return (%)2 Fund Benchmark
-8.3 -16.7
Allan Gray Stable Fund
Maximum drawdown (%)1 Fund Benchmark The daily interest rate as supplied by First Rand Bank Limited plus 2%.
-4.7 n/a
Highest annual return (%)2 Fund Benchmark
23.3 14.6
Lowest annual return (%)2 Fund Benchmark
2.8 6.2
Allan Gray Optimal Fund
Maximum drawdown (%)1 Fund Benchmark The daily interest rate as supplied by FirstRand Bank Limited.
-5.9 n/a
Highest annual return (%)2 Fund Benchmark
18.1 11.9
Lowest annual return (%)2 Fund Benchmark
-1.5 4.1
Allan Gray Bond Fund
Maximum drawdown (%)1 Fund Benchmark JSE All Bond Index.
-11.7 -14.4
Highest annual return (%)2 Fund Benchmark
18.0 21.2
Lowest annual return (%)2 Fund Benchmark
-2.6 -5.6
Allan Gray Money Market Fund
Maximum drawdown (%)1 Fund Benchmark The Alexander Forbes Short Term Fixed Interest (STeFI) Composite Index. Since inception to 31 March 2003, the benchmark was the Alexander Forbes 3-Month Deposit Index. From 1 April 2003 to 31 October 2011 the benchmark was the Domestic Fixed Interest Money Market Collective Investment Scheme sector excluding the Allan Gray Money Market Fund.
n/a n/a
Highest annual return (%)2 Fund Benchmark
12.8 13.3
Lowest annual return (%)2 Fund Benchmark
5.2 5.2
Allan Gray - Orbis Global Equity Feeder Fund
Maximum drawdown (%)1 Fund Benchmark FTSE World Index including income.
-34.1 -38.0
Highest annual return (%)2 Fund Benchmark
78.2 54.2
Lowest annual return (%)2 Fund Benchmark
-29.7 -32.7
Allan Gray - Orbis Global Fund of Funds
Maximum drawdown (%)1 Fund Benchmark 60% of the FTSE World Index including income and 40% of the JP Morgan Global Government Bond Index.
-24.0 -25.1
Highest annual return (%)2 Fund Benchmark
55.6 38.8
Lowest annual return (%)2 Fund Benchmark
-13.7 -17.0
Allan Gray - Orbis Global Optimal Fund of Funds
Maximum drawdown (%)1 Fund Benchmark The simple average of the benchmarks of the underlying unit trusts.
-18.9 -26.6
Highest annual return (%)2 Fund Benchmark
39.6 35.6
Lowest annual return (%)2 Fund Benchmark
-12.4 -19.1

1 Maximum percentage decline over any period.

2 This is the highest or lowest consecutive 12-month return the Fund has experienced since inception, along with the benchmark performance for the corresponding period. All rolling 12-month figures for the Fund and the benchmark are available from our Client Service Centre on request.

Unit trust for the 3-year period ending 30 September 2018
Fee for equal performance
Performance fees
Other expenses
VAT
Total expense ratio3
Transaction costs
Total investment charge
Fee for equal performance
1.10%
Performance fees
0.91%
Other expenses
0.01%
VAT
0.24%
Total expense ratio3
2.26%
Transaction costs
0.08%
Total investment charge
2.33%
Fee for equal performance
1.09%
Performance fees
0.46%
Other expenses
0.02%
VAT
0.15%
Total expense ratio3
1.71%
Transaction costs
0.08%
Total investment charge
1.80%
Fee for equal performance
1.07%
Performance fees
0.39%
Other expenses
0.02%
VAT
0.14%
Total expense ratio3
1.61%
Transaction costs
0.08%
Total investment charge
1.69%
Fee for equal performance
1.00%
Performance fees
0.47%
Other expenses
0.00%
VAT
0.21%
Total expense ratio3
1.67%
Transaction costs
0.13%
Total investment charge
1.81%
Fee for equal performance
0.25%
Performance fees
0.38%
Other expenses
0.00%
VAT
0.09%
Total expense ratio3
0.72%
Transaction costs
0.00%
Total investment charge
0.72%
Fee for equal performance
0.25%
Performance fees
0.00%
Other expenses
0.00%
VAT
0.04%
Total expense ratio3
0.29%
Transaction costs
0.00%
Total investment charge
0.29%
Fee for equal performance
1.42%
Performance fees
0.57%
Other expenses
0.06%
VAT
0.00%
Total expense ratio3
2.04%
Transaction costs
0.12%
Total investment charge
2.17%
Fee for equal performance
1.50%
Performance fees
0.42%
Other expenses
0.05%
VAT
0.00%
Total expense ratio3
1.97%
Transaction costs
0.13%
Total investment charge
2.10%
Fee for equal performance
1.00%
Performance fees
0.78%
Other expenses
0.06%
VAT
0.00%
Total expense ratio3
1.83%
Transaction costs
0.14%
Total investment charge
1.97%

3 The total expense ratio (TER) is the percentage of the Fund’s average assets under management that has been used to pay the Fund’s actual expenses over the past three years. The TER includes the annual management fees that have been charged (both the fee at benchmark and any performance component charged), trading costs (including brokerage, Securities Transfer Tax [STT], STRATE and FSB Investor Protection Levy), VAT and other expenses. Since Fund returns are quoted after the deduction of these expenses, the TER should not be deducted from published returns. As unit trust expenses vary, the current TER cannot be used as an indication of future TERs. A higher TER ratio does not necessarily imply a poor return, nor does a low TER imply a good return. Instead, when investing, the investment objective of the Fund should be aligned with the investor’s objective and compared against the performance of the Fund. The TER and other funds’ TERs should then be used to evaluate whether the Fund performance offers value for money.

Effective yield:
11 December 2018
7.8%
Historical yield

* Effective yield is the annual rate at which an investment grows in value when interest is compounded over a year and credited to the capital amount. This is the yield normally published in the newspaper.

Calculation of effective yield is according to the Association of Savings and Investment SA: The accrual in cents per unit for the previous seven days is converted into an average annual nominal yield and divided by the compounding factor to obtain a periodic effective rate. This figure is then converted to an annual effective rate. (Weekend/Public Holiday rates are rolled forward from the previous working day.)

Important information for investors

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 and 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 provided by the 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 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

The Allan Gray Bond Fund yield is current, calculated as at month-end.

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 ASISA standards. Excessive withdrawals from the unit trust may place it under liquidity pressure; if this happens withdrawals may be ring-fenced and managed over a period of time.

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.