ASISA Classifications

Tier 2
in what

at least 70% in SA, max 25% outside Africa, max 5% Africa ExSA

South African

Tier 1
where

Equity

Multi Asset

Interest
Bearing

min 80% in equity

equity, bonds, money, property

excludes equity, real estate &

preference shares

Anywhere,
no limits
min 80% outside SA, max 80% in any geograophical regio
min 80% outside SA in
a specified region

Regional

Global

Worldwide

Real Estate
Equtiy

min 80% in equities

Multi Asset

equity, bonds, money, property

Equtiy

min 80% in equities

Multi Asset

Interest
Bearing

equity, bonds, money, property

excludes equity, real estate &

preference shares

Real Estate
Equtiy

min 80% in equities

Multi Asset

equity, bonds, money, property

Interest
Bearing

excludes equity, real estate &

preference shares

Tier 3 - Details

Notes

Proposed BM

Equity - General

all industries, all capitalisations

FTSE / JSE ALSI (J203T)

Equity - Large Cap

min 80% in large caps

FTSE / JSE Top 40 (J200T)

Equity - Mid & Small cap

min 80% on co's with MV less than smallest top40

FTSE / JSE Mid Cap (J201T)

Equity - Resources

min 80% in FTSE / JSE Oil & Gas and Basic Materials, max 10% in sectors of companies with similar business

FTSE / JSE Resources (J258T)

Equity - Financial

min 80% in FTSE / JSE Financials, max 10% in sectors of companies with similar business

FTSE / JSE Industrials (J257T)

Equity - Industrial

min 80% in Industrials

FTSE / JSE Financials (J580T)

Equity - Unclassified

single industry or sector, other than above, as defined in mandate

performance cannot be compared

Multi Asset - Flexible

assets can shift btw classes and markets

Multi Asset - High Equity

max 75% equity (incl int'al), max 25% property (incl int'al)

Multi Asset - Medium Equity

max 60% equity (incl int'al), max 25% property (incl int'al)

Multi-Asset Low Equity

max 40% equity (incl int'al), max 25% property (incl int'al)

Multi Asset - Income

max 10% equity (incl int'al), max 25% property (incl int'al)

Interest Bearing - Variable Term

bonds, fixed deposits & interest bearing securities; short, medium or long dates; allocation actively managed

Interest Bearing - Short Term

bonds, fixed deposits & interest bearing securities with fixed maturity date; weighted ave. modified duration less
STeFI Composite
than 2

Interest Bearing - Money Market

Momey market instruments with maturity less than 13 mnths, ave duration less than 90 days, weighted ave. legal
STeFI 3-months index
maturity of 120 days

Real Estate - General

min 80% in listed property shares; also collective investment schemes in property, property loan sticks, real
estate intestment trusts, max 10% in companies with similar business

Equity - Unclassified

single industry or sector, as per mandate

Multi Asset - Flexible

complete or stipulated flexibility

Multi Asset - Income

max 10% equity, max 25% property

Equity - General

no particular theme, across all markets and capitalisations

MSCI World Index (total return)

Equity - Unclassified

single industry or sector, other than above, as defined in mandate

performance cannot be compared

Multi Asset - Flexible

assets can shift btw classes and markets

Multi Asset - High Equity

max 75% equity (incl int'al), max 25% property (incl int'al)

Multi Asset - Medium Equity

max 60% equity (incl int'al), max 25% property (incl int'al)

Multi-Asset Low Equity

max 40% equity (incl int'al), max 25% property (incl int'al)

Multi Asset - Income

max 10% equity (incl int'al), max 25% property (incl int'al)

Interest Bearing - Variable Term

bonds, fixed deposits & interest bearing securities; short, medium or long dates; allocation actively managed

Interest Bearing - Short Term

bonds, fixed deposits & interest bearing securities with fixed maturity date; weighted ave. modified duration less
than 2

Real Estate - General

min 80% in listed property shares; also collective investment schemes in property, property loan sticks, real
estate intestment trusts, max 10% in companies with similar business

Equity - General

no particular theme, across all markets and capitalisations

Equity - Unclassified

single industry or sector, other than above, as defined in mandate

Multi Asset - Flexible

assets can shift btw classes and markets

Interest Bearing - Variable Term

bonds, fixed deposits & interest bearing securities; short, medium or long dates; allocation actively managed

Interest Bearing - Short Term

bonds, fixed deposits & interest bearing securities with fixed maturity date; weighted ave. modified duration less
than 2

Real Estate