27four SA Passive Equity Fund

The 27four SA Passive Equity Fund is a high risk portfolio that invests in SA listed shares based on their respective free-float (with a weight constraint to Naspers (JSE: NPN) of 10%) with the purpose of passively tracking the JSE Capped SWIX All Share (J433). The primary purpose of the fund is to replicate the return profile of the JSE Capped SWIX All Share index with minimal deviation, measured by tracking error. Target tracking error is set at 0.5% per annum over a rolling 12 month period.