Nedgroup Investments Rainmaker Fund

Fund Overview

Risk Profile

Low	Medium	High

Objective

The Nedgroup Investments Rainmaker Fund seeks to offer investors long-term capital growth through active stock selection within the South African equity market. A minimum of 75% of the fund’s assets will be invested in domestic equities at all times.

Investor Profile

• The fund is suitable for investors seeking exposure to the domestic equity market with maximum capital appreciation as their primary goal over the long term.
• Investors should have a tolerance for short-term market volatility in order to achieve long-term objectives.

Offshore Exposure

Yes

Inception Date

3 July 2000

Fund Code

AHVE

Fund Manager(s)

Tim Allsop, Omri Thomas
(Abax Investments)

Top 10 Holdings at 30 June 2011 Anglo American Plc 9.90% Sasol Ltd 7.00% Naspers Ltd 6.70% British American Tobacco PLC 6.50% Anglogold Ashanti Ltd 6.20% MTN Group Ltd 5.90% BHP Billiton Plc 5.10% Anglo American Platinum Corp Ltd 4.70% Old Mutual Plc 4.30% Standard Bank Group Ltd 3.90% Total Holdings 60.20%

Asset Allocation at 30 June 2011

Top 10 Holdings at 31 March 2011 MTN Group Ltd 8.00% British American Tobacco PLC 7.80% Sasol Ltd 6.30% Naspers Ltd 6.20% Anglogold Ashanti Ltd 6.00% BHP Billiton Plc 5.70% Anglo American Plc 5.30% Standard Bank Group Ltd 4.60% Anglo American Platinum Corp Ltd 4.10% Investec Plc 3.60% Total Holdings 57.60%

Asset Allocation at 31 March 2011

Top 10 Holdings at 31 December 2010 MTN Group Ltd 8.40% British American Tobacco PLC 8.20% Sasol Ltd 7.10% Anglo American Plc 6.50% Naspers Ltd 6.20% BHP Billiton Plc 4.70% Old Mutual Plc 3.50% Investec Plc 3.40% Standard Bank Group Ltd 3.30% Anglo American Platinum Corp Ltd 3.10% Total Holdings 54.50%

Asset Allocation at 31 December 2010

Top 10 Holdings at 30 September 2010 Anglo American Plc 8.70% British American Tobacco PLC 7.60% Naspers Ltd 7.40% MTN Group Ltd 6.90% BHP Billiton Plc 6.80% Sasol Ltd 5.80% Old Mutual Plc 3.20% Standard Bank Group Ltd 3.10% Investec Plc 2.90% Reunert Ltd 2.70% Total Holdings 55.10%

Asset Allocation at 30 September 2010

Top 10 Holdings at 30 June 2010 British American Tobacco PLC 10.10% Naspers Ltd 7.50% Sasol Ltd 7.10% MTN Group Ltd 7.10% Anglo American Plc 6.80% BHP Billiton Plc 5.70% New Gold Issuer Ltd 3.70% Reunert Ltd 3.10% Reinet Investments SCA 2.90% Old Mutual Plc 2.50% Total Holdings 56.50%

Asset Allocation at 30 June 2010

Top 10 Holdings at 31 March 2010 British American Tobacco PLC 10.30% Naspers Ltd 9.80% Anglo American Plc 7.30% MTN Group Ltd 6.10% BHP Billiton Plc 5.30% Sasol Ltd 5.00% Reinet Investments SCA 4.20% New Gold Issuer Ltd 3.50% Old Mutual Plc 3.10% Allied Elec Part Prefs 2.60% Total Holdings 57.40%

Asset Allocation at 31 March 2010