GIPS compliance 2009

Balanced
Balanced - Domestic The composite includes all South African based, balanced portfolios which are actively managed according to the Firm's houseview.
Balanced - Domestic - 2.50% Max Derivative The composite includes all South African based, balanced portfolios which are actively managed according to the Firm's houseview, with limited use of derivatives.
Balanced - Domestic - 40% Equity Houseview The composite includes all South African based, balanced portfolios which are actively managed according to the Firm's houseview, but with a 40% Equity limit.
Balanced - Domestic - 45% Equity Houseview The composite includes all South African based, balanced portfolios which are actively managed according to the Firm's houseview, but with a 45% Equity limit.
Balanced - Domestic - 60% Max Equity Houseview
Balanced - Domestic - 65% Max (excl Property) Equity Houseview The composite includes all South African based, balanced portfolios which are actively managed according to the Firm's houseview, but with a 65% Equity limit excluding property.
Balanced - Domestic - Momentum The composite includes all South African, balanced portfolios which are actively managed according to the Firm's houseview but through a unitised structure.
Balanced - Domestic (Aggressive)
Balanced - Domestic (Aggressive) - 20% ALSI / 80% ALBI The composite includes all South African based, balanced portfolios with a small component of Equity which is managed according to the Firm's houseview, and a large Bond component. This aims to deliver maximum income with the potential for long-term capital appreciation.
Balanced - Domestic (Aggressive) - 40% ALSI, 60% Modified duration of 2 The composite includes all South African based, balanced portfolios with an Equity component measured against the ALSI and a larger Bond component that has a Modified duration of 2.
Balanced - Domestic (Aggressive) Absolute Return Absolute Focus The composite includes all South African based, Absolute Return portfolios that are aggressively managed in such a way as to balance long and short equity market exposures so that the portfolios are market neutral.
Balanced - Domestic (Conservative) Absolute Return (Medical) The composite includes all South African based, Absolute Return portfolios with multiple asset clases and a benchmark of CPIX + 5% and which are compliant with the Medical Schemes Act.
Balanced - Domestic (Conservative) Absolute Return Inflation Plus The composite includes all South African based, Absolute Return portfolios with multiple asset clases and a benchmark of CPIX+ 4.50%
Balanced - Domestic (Conservative) Absolute Return Market Neutral
Balanced - Domestic (Conservative) Guaranteed The composite includes all South African based, balanced portfolios, which are managed in such a way as to provide a 100% protection on the capital value of the assets whilst providing investors with the opportunity to participate in positive market-linked growth.This is done through the extensive use of derivatives.
Balanced - Domestic (Conservative) Protected The composite includes all South African based portfolios with multiple asset classes, that are managed in such a way as to maximise long term returns, but minimise risk using a capital protection limit. Performance is measured against the STEFI benchmark.
Balanced - Domestic (Underweight Equity) The composite includes all South African based, balanced portfolios which are actively managed according to the Firm's houseview, but with Effective Equity downweighted by 5%.
Balanced - Domestic 40% Min Fixed Interest Limitation The composite includes all South African based, balanced portfolios which are actively managed according to the Firm's houseview, but with a minimum 40% Fixed Interest limit.
Balanced - Domestic Inflation Protected The composite includes all South African based, Absolute Return portfolios with multiple asset clases, that are managed in such a way as to maximise long term returns. They invest in a combination of cash, fixed interest, inflation linked bonds and hedging instruments to provide the inflation protection. Equity exposure is included provided the instruments achieve capital protection and is limited to 30%. Portfolios are measured against a benchmark of CPIX + 2.50%.
Balanced - Domestic No derivatives The composite includes all South African based, balanced portfolios which are actively managed according to the Firm's houseview, excluding the use of derivatives.
Balanced - Global Only The composite includes global only, balanced portfolios which are actively managed as part of the Firm's houseview balanced portfolios.
Balanced - Global Only (Conservative)The composite includes global only portfolios that invest in portfolios that are managed on a very conservative asset and geographical allocation basis and are CISCA compliant.
Balanced - Global Only Unit TrustThe composite includes global only portfolios that give investors exposure to a diversified portfolio of asset classes and exposure to various currencies and are CISCA compliant.
Balanced - Incl Global The composite includes all South African and global based, balanced portfolios which are actively managed according to the Firm's houseview.
Balanced - Incl Global - Low TurnoverThe composite includes all South African and global based, balanced portfolios which are based on the Firm's houseview strategy but with reduced trading.
Balanced - Incl Global - 45% Equity HouseviewThe composite includes all South African and global based, balanced portfolios which are actively managed according to the Firm's houseview, with a 45% Equity limit.
Balanced - Incl Global - 60% Max Total Equity HouseviewThe composite includes all South African and global based, balanced portfolios which are actively managed according to the Firm's houseview, with a 60% Equity limit.
Balanced - Incl Global - 65% Max Domestic & Foreign Equity - NamibiaThe composite includes all South African and global based, balanced portfolios which are actively managed according to the Firm's houseview, but with a 65% Equity limit.They are also compliant with Namibian legislation.
Balanced - Incl Global - MomentumThe composite includes all South African and global based, balanced portfolios which are actively managed according to the Firm's houseview but through a unitised structure.
Balanced - Incl Global - NamibiaThe composite includes all South African and global based, balanced portfolios which are actively managed according to the Firm's houseview.They are also compliant with Namibian legislation.
Balanced - Incl Global (Aggressive) The composite includes all South African and global based, balanced portfolios which are aggressively managed according to the Firm's houseview.
Balanced - Incl Global (Aggressive) Different UniverseThe composite includes all South African and global based, balanced portfolios which are aggressively managed, have a wide investment universe and are CISCA compliant.
Balanced - Incl Global (Aggressive) Different Universe - NamibiaThe composite includes all South African and global based, balanced portfolios which are aggressively managed, have a wide investment universe and are compliant with Namibian legislation.
Balanced - Incl Global (Aggressive) FlexibleThe composite includes all South African and global based, balanced portfolios which are actively managed according to the Firm's houseview, but with aggressive changes in the asset allocation, especially Global exposure.
Balanced - Incl Global (Aggressive) Unit TrustThe composite includes all South African and global based, balanced portfolios which are aggressively managed according to the Firm's houseview and are CISCA compliant.
Balanced - Incl Global (Aggressive) Worldwide FlexibleThe composite includes all South African and global based, balanced portfolios which are actively managed, investing in equities and / or interest bearing securities and allowing for maximum flexiblity in asset allocation. The portfolios would also be CISCA compliant.
Balanced - Incl Global (Conservative) - 35% Equity, 25% Capital Market, 25% Money Market, 15% Foreign AssetsThe composite includes all South African and global based, balanced portfolios which are actively managed, but have equity downweighted, in line with a lower equity client benchmark.
Balanced - Incl Global (Conservative) - 40% Equity, 40% Capital Market, 5% Money Market, 15% Foreign AssetsThe composite includes all South African and global based, balanced portfolios which are actively managed, but have equity downweighted, in line with a more conservative client benchmark.
Balanced - Incl Global (Conservative) Absolute Return (Medical)The composite includes all South African and global based, Absolute Return portfolios with multiple asset clases and a benchmark of CPIX + 4.50% and are compliant with the Medical Schemes Act.
Balanced - Incl Global (Conservative) Absolute Return Inflation Plus The composite includes all South African and global based, Absolute Return portfolios with multiple asset clases and a benchmark of CPIX + 4.50%.
Balanced - Incl Global (Conservative) Capital ProtectorThe composite includes all South African and global based, balanced portfolios, but with equity downweighted in favour of bond and cash exposure. Performance is measured against the STEFI benchmark.
Balanced - Incl Global (Conservative) ProtectedThe composite includes all South African and global based portfolios with multiple asset classes, that are managed in such a way as to ensure 100% month - to - month capital protection.
Balanced - Incl Global (Conservative) Underweight EquityThe composite includes all South African and global based, balanced portfolios, but with domestic equity downweighted in favour of domestic bond exposure.
Balanced - Incl Global (Conservative) Unit Trust The composite includes all South African and global based, balanced portfolios, that are managed to provide a degree of income and capital growth with a low to moderate level of risk, therefore hold very low equities and are CISCA compliant.
Balanced - Incl Global 12.50% Min Bond LimitationThe composite includes all South African and global based, balanced portfolios which are actively managed according to the Firm's houseview, but with a minimum 12.50% Bond limit.
Balanced - Incl Global 40% Min Fixed Interest LimitationThe composite includes all South African and global based, balanced portfolios which are actively managed according to the Firm's houseview, but with a minimum 40% Fixed Interest limit.
Balanced - Incl Global Asset AllocatorThe composite includes all South African and global based, balanced portfolios which are actively managed according to the Firm's houseview, but with aggressive changes in the asset allocation.
Balanced - Incl Global Capital ProtectedThe composite includes all South African and global based, balanced portfolios which are managed in such a way as to ensure 100% month-to-month capital protection.
Balanced - Incl Global Overweight EquityThe composite includes all South African and global based, balanced portfolios, but with domestic equity upweighted by -+ 5%.
Balanced - Incl Global Underweight EquityThe composite includes all South African and global based, balanced portfolios, but with domestic equity downweighted by between 5% - 10%.
Balanced - Incl Global Unit Trust The composite includes all South African and global based, balanced portfolios, that are managed to provide a degree of income and capital growth with a moderate level of risk, therefore hold low equities and are CISCA compliant.
   

Bond
 Bond - Domestic 
 Bond - Domestic - Liability Driven - Unique Benchmark The composite includes all South African based, fixed interest portfolios that are actively managed against a user defined benchmark.
 Bond - Domestic - Liability Driven - Unique Benchmark 2 The composite includes all South African based, fixed interest portfolios that are actively managed against a user defined benchmark.
 Bond - Domestic - Protected The composite includes all South African based, fixed interest portfolios that have derivative protection and measured against the ALBI benchmark
 Bond - Domestic - Total Return The composite includes all South African based portfolios that may invest in any combination of bond and money market instruments so as to provide optimal performance, which is measured against the STEFI benchmark.
 Bond - Domestic (Active) The composite includes all South African based, fixed interest portfolios that are actively managed against the ALBI benchmark.
 Bond - Domestic (Active) - Namibia The composite includes all South African and Namibian based, fixed interest portfolios that are actively managed against a benchmark comprising of 45% ALBI / 45% IJG Namibia Bond Index / 10% STEFI.
 Bond - Domestic (Active) Aggressive
 Bond - Domestic (Active) GOVI The composite includes all South African based, fixed interest portfolios, that are aggressively managed against the GOVI benchmark.
 Bond - Domestic (Active) Unit Trust The composite includes all South African based, fixed interest portfolios that are actively managed against the ALBI benchmark and CISCA compliant
 Bond - Domestic (Asset Allocator) The composite includes all South African based, fixed interest portfolios with flexible maturity, measured against a benchmark of MOD2.5 which is 50% ALBI / 50% STEFI. 
 Bond - Domestic (Passive) The composite includes all South African based, fixed interest portfolios that are ALBI Index tracking.
 Bond - Domestic (Passive) Inflation Linked The composite includes all South African bond portfolios which are passively managed and only able to invest in inflation linked bonds. The benchmark is the RSA R202 (South African Government Inflation Linked Bond).
 Bond - Domestic Inflation Linked Matched Fund for liability on annuity fund The composite includes all South African based, fixed interest and inflation linked portfolios with an investment strategy which seeks to manage the assets in line with the pre-determined policy liabilities and projected cashflows.The aim is to immunise against changes in future inflation rates.
 Bond - Domestic Long Short Hedge The composite includes all South African based , fixed income portfolios which look to add value across multiple strategies with in the fixed - interest markets. The aim is to manage and balance long and short fixed income exposures so as to achieve an absolute return over the medium in excess of the benchmark which is money market related.
 Bond - Domestic Matched Fund for liability on annuity (Fund 2) The composite includes all South African and Namibian based, fixed interest portfolios with an investment strategy which seeks to manage the assets in line with the pre-determined policy liabilities and projected cashflows. Asset liability matching shall also be implemented.The aim is to minimise surplus volatility as well as to enhance returns by assuming appropriate levels of credit risk.
 Bond - Domestic Matched Fund for liability on annuity (Fund 2) No 2 The composite includes all South African and Namibian based, fixed interest portfolios with an investment strategy which seeks to manage the assets in line with the pre-determined policy liabilities and projected cashflows. Asset liability matching shall also be implemented.The aim is to minimise surplus volatility as well as to enhance returns by assuming appropriate levels of credit risk.
 Bond - Domestic Matched Fund for liability on annuity fund The composite includes all South African based, fixed interest portfolios with an investment strategy which seeks to manage the assets in line with the pre-determined policy liabilities and projected cashflows.The aim is to immunise against changes in interest rates, minimise surplus volatility, optimise return amd manage the credit risks.
 Bond - Domestic Matched Fund for policy with unique term (Fund 1) The composite includes all South African based, fixed interest portfolios with the aim of hedging their liabilities against interest rate movements over the long term.
 Bond - Domestic Matched Fund for policy with unique term (Fund 2)
 Bond - Domestic No 2 The composite includes all South African based, fixed interest portfolios that are managed against the ALBI benchmark.
 Bond - Global Only (Active) The composite includes all global only, fixed interest portfolios that are actively managed against the JP Morgan GBI benchmark.
 Bond - Incl Global (Active) Wider Universe Unit Trust The composite includes all South African and global based, fixed interest portfolios, that are more aggressively managed against the ALBI benchmark and CISCA compliant
 Bond - Incl Global Credit Hedge The composite includes all South African and global based , fixed income portfolios which are actively managed with decisions being taken across multiple dimensions, including inter alia, credit spread direction, credit spread curve shape changes, repo's / carries and other alternative strategies.
   

Cash
Cash - Domestic The composite includes all South African based, money market portfolios, that are actively managed against the STEFI benchmark.
Cash - Domestic - Momentum The composite includes all South African based, money market portfolios, that are actively managed against the STEFI benchmark but through a unitised structure.
Cash - Domestic (Aggressive) 180 Days
Cash - Domestic (Aggressive) No 2 The composite includes all South African based, money market portfolios that are aggressively managed against the STEFI benchmark.
Cash - Domestic (Conservative) The composite includes all South African based, money market portfolios, that are conservatively managed, with a STEFI benchmark.
Cash - Domestic (Conservative) - Namibia The composite includes Namibian only money market portfolios and complies with Namibian legislation.
Cash - Euro Only The composite includes all Euro denominated, money market portfolios measured against the 3 month Euro LIBOR benchmark.
Cash - Global Only - 1/3 USD, 1/3 EURO, 1/3 GBP The composite includes portfolios with a combination of USD, Euro and GBP money market instruments with a split 3 month USD, Euro, GBP LIBOR benchmark.
Cash - US Only
Cash - US Only No 2
   

Equity
Equity - Domestic - 70% ALSI / 30% FINDI (Adjusted)
Equity - Domestic - CAPI
Equity - Domestic - Houseview The composite includes all South African based, equity only portfolios which are actively managed according to the Firm's houseview, including the use of derivatives. Benchmark is the CAPI.
Equity - Domestic - Houseview Fully Invested The composite includes all South African based, equity only portfolios which are actively managed according to the Firm's houseview, including the use of long derivatives to ensure the portfolios are fully invested at all times.
Equity - Domestic - Houseview Momentum The composite includes all South African based, equity only portfolios which are actively managed according to the Firm's houseview, including the use of derivatives, but through a unitised structure. Benchmark is the CAPI.
Equity - Domestic - Houseview No Derivatives The composite includes all South African based, equity only portfolios which are actively managed according to the Firm's houseview, excluding the use of derivatives. Benchmark is the CAPI.
Equity - Domestic - Index Enhanced SWIX40 The composite includes all South African based, equity only portfolios which are index enhanced and benchmarked against the SWIX 40.
Equity - Domestic - Technomedia 
Equity - Domestic (Aggressive) The composite includes all South African based, equity only portfolios which are actively, more aggressively managed. Benchmark is the FTSE / JSE Capped All Share Index.
Equity - Domestic (Aggressive) - FINDI The composite includes all South African based, equity only portfolios which are actively, more aggressively managed. Benchmark is the FTSE / JSE All Share ex Resources Index.
Equity - Domestic (Aggressive) - FINI 
Equity - Domestic (Aggressive) - Mid Small Cap The composite includes all South African based, equity only portfolios which are actively, more aggressively managed and investing in mid and small cap shares.
Equity - Domestic (Aggressive) - Real Estate The composite includes all South African based, equity only portfolios which are actively, more aggressively managed investing in listed property shares.
Equity - Domestic (Aggressive) - Resources The composite includes all South African based, equity only portfolios which are actively, more aggressively managed investing in resource shares.
Equity - Domestic (Aggressive) Value Fund The composite includes all South African based, equity only portfolios which are actively, more aggressively managed, focusing on value based shares.
Equity - Domestic (Aggressive) Wider Universe No Derivatives The composite includes all South African based, equity only portfolios which are actively, more aggressively managed including small cap shares, excluding the use of derivatives.
Equity - Domestic (Conservative) Hedge The composite includes all South African based, equity only portfolios which are conservatively managed so as to achieve 100% market neutral positions through an option hedge comprising of the buying of puts and the selling of calls.
Equity - Domestic (Conservative) High Dividend The composite includes all South African based, equity only portfolios which aim to achieve a higher dividend yield than is available in a general equity fund and to generate moderate capital growth over time.
Equity - Domestic (Conservative) Index Tracker - ALSI40 The composite includes all South African based, equity only portfolios which are ALSI 40 Index trackers.
Equity - Domestic (Conservative) Low Resources Index Tracker The composite includes all South African based, equity only portfolios which track the Low Resources Index.
Equity - Domestic Adjusted SWIX The composite includes all South African based, equity only portfolios managed in line with an adjusted SWIX benchmark, which excludes SA Listed Property, Gaming and Gambling shares.
Equity - Domestic Long Short Hedge The composite includes all South African based, equity only portfolios which are managed by taking long and short equity market exposures in such a way as to minimise market risk.
Equity - Domestic (Aggressive) Incl Small Caps
Equity - Domestic SWIX The composite includes all South African based, equity only portfolios which are managed according to the Firm's core equity houseview.
Equity - Domestic Market Neutral HedgeThe composite includes all South African based, equity only portfolios which hold JSE listed shares that stand to benefit either directly or indirectly when the Rand weakens or depreciates against the major hard-currencies.
Equity - Domestic Overweight Resources The composite includes all South African based, equity only portfolios which are managed in such a way as to balance long and short equity market exposures so that the portfolios are market neutral.
Equity - Global Only - MSCI The composite includes global only, equity which is actively managed against the MSCI benchmark.
Equity - Global Only - MSCI (Unit Trust) The composite includes global only portfolios that invest in top performing offshore equity funds, providing offshore diversification and are CISCA compliant.
Equity - Incl Global The composite includes all South African and global based, equity only portfolios which are actively managed against the Industrial sector.
Equity - Incl Global (Aggressive) The composite includes all South African and global based, equity only portfolios which are actively, more aggressively managed. Benchmark is the FTSE / JSE Capped All Share Index.
Equity - Incl Global (Aggressive) - FINI The composite includes all South African and global based , equity only portfolios which are actively, more aggressively managed. Benchmark is the Financial Index.
Equity - Incl Global (Aggressive) - Mid Small Cap The composite includes all South African and global based, equity only portfolios which are actively, more aggressively managed investing in mid and small cap shares.  
Equity - Incl Global (Aggressive) 80% SWIX / 20% MSCI The composite includes all South African and global based, equity only portfolios which are aggressively managed and have approximately 20% exposure to offshore equity markets.
Equity - Incl Global (Aggressive) Wider Universe The composite includes all South African and global based, equity only portfolios which are actively, more aggressively managed and includes small cap shares.
Equity - Incl Global (Conservative) Internal Benchmark Index Tracker The composite includes all South African and global based, equity only portfolios which track the Equity component of the Firm's houseview portfolios and are CISCA compliant.
Equity - Incl Global 75% SWIX / 25% MSCI The composite includes all South African and global based, equity only portfolios with a maximum 25% exposure to offshore equity markets.
Equity - Incl Global Fully Invested The composite includes all South African and global based, equity only portfolios which are actively managed according to the Firm's houseview and are fully invested at all times.
Equity - Incl Global Protected DividendThe composite includes all South African and global based, equity only portfolios which are actively managed to generate the highest level of dividends, while providing capital stability by implementing hedging policies to hedge out as much market risk as possible. The benchmark is CPIX.
Equity - Incl Global SciTech Fund of FundsThe composite includes all South African and global based, equity only, fund of fund portfolios which invest in local and offshore funds whose business operations involve, or will benefit from, the development, advancement and use of science and technology.
Equity & Bonds - Incl Global The composite includes all South African and global based, equity and bond portfolios which are actively managed. The objective is to achieve capital growth and a degree of capital stability.
Equity & Bonds - Incl Global (Aggressive) The composite includes all South African and global based, equity and bond portfolios which are actively managed. The objective is to achieve higher than average long-term growth.
   

Income
 Income - Domestic (Active) The composite includes all South African based, income portfolios which are actively managed against a benchmark of MOD2 which is 60% STEFI / 40% ALBI.
 Income - Domestic (Aggressive) - MOD2.5 The composite includes all South African based, income portfolios which are actively managed against a benchmark of MOD2.5 which is 50% STEFI / 50% ALBI.
 Income - Domestic (Aggressive) Income Plus The composite includes all South African based, income portfolios which are managed in such a way as to allow for movement between underlying securities to protect capital and maximise growth. The benchmark is the STEFI.
 Income - Domestic (Conservative) - MOD1The composite includes all South African based, income portfolios which are more conservatively managed against a benchmark of MOD1 which is 20% STEFI / 80% ALBI.
 Income - Domestic (Conservative) - MOD1 Namibia The composite includes all South African based, income portfolios which are more conservatively managed against a benchmark of MOD1 which is 20% STEFI / 80% ALBI. They also hold Namibian assets.
 Income - Domestic (Conservative) - STEFI
 Income - Global Only (Conservative) The composite includes all global only, income portfolios investing in USD, EURO and GBP instruments.
 Income - Global Only EUR The composite includes all global only, income portfolios investing in only EUR instruments and are measured against the EUR 12mth LIBOR.
 Income - Global Only GBP The composite includes all global only, income portfolios investing in only GBP instruments and are measured against the GBP 12mth LIBOR.
 Income - Global Only USD The composite includes all global only, income portfolios investing in only USD instruments and are measured against the USD 12mth LIBOR.
RMB Asset Management (Pty) Limited (Reg .No. 1987/004655/07, VAT No. 4200149096, FAIS License No.623) is an Authorised Financial Services Provider in terms of the FAIS Act and an approved Retirement Fund Administrator (No.24/34).
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