Investec GSF Global Franchise Fund A Acc

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Investec GSF Global Franchise Fund A Acc

Investec GSF Global Franchise Fund A Acc

Investec Global Strategy Fund Limited (Luxembourg)
	Investec GSF Global Franchise Fund A Acc
		Regional Portfolio Structure(Semi-Annual Comparison)
		Sectorial Portfolio Structure(Semi-Annual Comparison)

Price

Ranking

Sector:	Global-Equity-General
Size:	(USD) 259 700 000

Sector Rank:	1 out of 42
(lump sum over 2 years to 30 Apr 2012)

Overall Rank:	5 out of 178
(lump sum over 2 years to 30 Apr 2012)

R20000 invested on 30 Apr 2010 was worth R26 270 at 30 Apr 2012
(14.61% annual compound return)

R5000 per month since 30 Apr 2010 was worth R148 781 at 30 Apr 2012
(20.17% 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
Sam Houlie, B Com, B Compt, CA (SA), CFA
Portfolio Manager, Contrarian Equities Sam is a portfolio manager at Investec Asset Management with responsibility for institutional contrarian equity funds as well as the Investec Cautious Managed Fund unit trust. In addition, he has been the Head of Equities in South Africa since March 2007. Sam joined the company in 2006. After completing his articles at Ernst & Young in Cape Town, Sam began his investment career at Allan Gray in 1997 as equity analyst. He joined Abvest Associates in 2001 and was instrumental in establishing the equity business from scratch and building a solid investment process and track record. During his time at Abvest, Sam progressed from equity portfolio manager to Chief Investment Officer before being appointed CEO in October 2004. Sam, a qualified chartered accountant, holds a Bachelor of Commerce and Bachelor of Computationis (Honours) (Certificate in Theory of Accounting) degree from UCT and Unisa and is a CFA charterholder.

Focus and Objective
The Global Franchise Fund aims to achieve long-term capital growth primarily through investment in shares of companies around the world. The Fund will have a blend of investments and will be unrestricted in its choice of companies either by size or industry, or in terms of the geographical make-up of the portfolio. It will focus investment on stocks deemed to be of high quality, which are typically associated with global brands or franchises.

Technical Overview
Benchmark:	MSCI World
Base currency:	USD	Formation date:	03 Jul 2009
Domicile:	Luxembourg	Pricing system:	Forward

Top holdings on 31 Dec 2011

Share (Sector)	Value (USD)	% of fund
PFIZER (Healthcare)	14 023 800	5.40%
UNILEVER UK (Food & Beverage)	13 764 100	5.30%
IMPERIALTOBAC (Cyclical Goods & Services)	12 985 000	5.00%
NESTLESA (Food & Beverage)	12 725 300	4.90%
ROCHE (Healthcare)	12 725 300	4.90%
JAPANTOBACCO (Goods & Services)	12 465 600	4.80%
JOHNSON&JOHN (Healthcare)	11 946 200	4.60%
RECKITTBENCK (Cyclical Goods & Services)	11 686 500	4.50%
ANHEUSERBUSCH (Food & Beverage)	11 167 100	4.30%
ALTRIA (Construction)	10 128 300	3.90%
TOTALS	123 617 200	47.60%