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STANLIB Offshore Global Focus Fund STANLIB Offshore STANLIB Offshore Global Focus Fund News Sectorial Portfolio Structure(Semi-Annual Comparison) Price   Ranking Sector: Global-Equity-General Size: (USD) 3 510 000   Sector Rank: 12 out of 40 (lump sum over 3 years to 30 Sep 2011)   Overall Rank: 61 out of 175 (lump sum over 3 years to 30 Sep 2011)   R20000 invested on 30 Sep 2008 was worth R20 564 at 30 Sep 2011 (0.93% annual compound return)   R5000 per month since 30 Sep 2008 was worth R202 992 at 30 Sep 2011 (7.68% annual return compounded monthly)   Please note that offshore fund performance figures are calculated from NAV prices (ie, equivalent to sell-to-sell) and therefore not directly comparable to domestic fund performance figures on this site.   Management Brenda Reed   The Standard Bank Offshore Global Focus Fund is a feeder fund, which invests directly into the Fidelity Fund Global Focus Fund. The Standard Bank Offshore Global Focus Fund is managed by Standard Bank Unit Trusts Jersey Limited, the Management Company, which is a subsidiary of Standard Bank Offshore Group and ultimately Stanbic.   Focus and Objective The Fund aims to provide long-term capital growth from a portfolio of global equities. The fund invests in a limited number of companies and is therefore much more concentrated than the benchmark MSCI World Index. The fund is not subject to any limitations and will not attempt to mirror benchmark sector and country weights. In this respect, resultant exposures will be a residual of stock selection and are adjusted in order to add incremental value to returns derived primarily from individual stocks. Risk is controlled through holding a well-diversified selection of thoroughly researched companies. The fund manager prefers companies with a competitive advantage, usually achieved through pricing power or being a low cost producer, as they are likely to yield higher returns on invested capital and free cash flow. Over time this should lead to higher growth rates and dividends, or share buy backs. The fund is style neutral, but may have a bias toward growth or value stocks where the fund manager identifies opportunities to exploit the potential relative outperformance of a particular market segment.   Technical Overview Benchmark: Morgan Stanley Capital International World index Allows debit orders? No Is this fund a roll-up fund? Yes Annual trailer fee: 0.50% Management fee (p.a.): 1.75% Base currency: USD Min further amounts: US$1 000 Broker comm payable? Yes Min lump sum: US$2 500 Custodian fee: 0.10% Minimum lump sum: $2 500 Domicile: Jersey Minimum monthly: $1 000 Exit fee? No Original price: USD 10.00 Formation date: 01 Sep 2003 Performance fee? No   Top holdings on 30 Jun 2011 Share (Sector) Value (USD) % of fund CITIGROUP (Financial Services) 66 690 1.90% NEWCRESTMININ (Basic Resources) 63 180 1.80% AT&T (Telecom) 59 670 1.70% SANOFI-AVENT (Healthcare) 56 160 1.60% BAYER (Chemicals) 56 160 1.60% MICROSOFT (Technology) 52 650 1.50% USBANCORP (Financial Services) 52 650 1.50% METLIFE (Insurance) 49 140 1.40% NESTLESA (Food & Beverage) 49 140 1.40% TERUMO (Equities) 49 140 1.40% TOTALS 554 580 15.80%

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