Stanbic Equity Fund As at 31 March 2009

Investment Policy and Objectives Highlights

The Stanbic Equity Fund investment objective is to provide a medium whereby investors can obtain . Fund size declines by 5.7% to P6.8m
undivided participation in a diversified portfolio of securities of companies or concerns listed on a . 3 month return: negative 5.70%
recognised stock exchange and to generate a reasonable level of current income and capital for the . Offshore equities decline by 6%, despite sharp rallies experienced
investor. The fund aims to achieve this objective through a balanced mix of investments in both in March
local Botswana and offshore equities, bonds and cash. Maximum use is made of international . Local assets decline by 5%, against a DCI decline of 8%
investment opportunities, as we believe this is critical both for performance and risk diversification.
Asset allocation is managed effectively in order to try and secure consistent out performance while
the stock selection process is designed to combine performance with acceptable risk.

Performance (%) Cumulative Performance - Since Inception

1 year 3 years 5 years

Class A -35.39 - -
Benchmark -20.91 20.64 -

Figures quoted are from MoneyMate for the period ending 31 March 2009 for a lump sum, using NAV-NAV prices and do not
take any upfront managers charge into account. Income distributions are declared on the ex-dividend date. Actual investment
performance will differ based on the upfront managers charge applicable, the actual investment date and the date of
reinvestment of income. Class A

Asset Allocation (%) Sector (%)

Portfolio Facts Income Distribution

Portfolio Size P 6.82 million Paid in the last 12 Paid during 2008 payments as
Sector Classification Equity Fund months 2008 a % of year end
Income Distribution Net revenue is declared on a daily basis and distributed bi-annually. price
Income Declaration 0.00 cpu 0.00 cpu 0.00 %
30 June & 31 December
Benchmark Botswana Domestic Companies Index

Class A
Top Holdings (%)
Launch Date 01 Oct 2007
STANLIB High Alpha Global Equity Fund 29.55
Minimum Investment
Lump Sum P1,000 First National Bank Of Botswana 12.21
Debit Order Per Month N/A Stanchar Botswana 10.71
ISIN No. ZAE000104113 Barclays Bank Of Botswana Limited 10.29
Official Code STEA Botswana Insurance Holdings Limited 5.86
Total Expense Ratio * 0.00% Letshego 5.42
Performance Ratio Abc Holdings Botswana 5.42
Maximum Portfolio Charges ** Sechaba Brewery Limited Botswana 3.62
Total Upfront Charge 5.00% Engen Botswana Limited 1.80
Upfront Charge Intermediary Portion 0.00% Furnmart Botswana 1.70
Total Service Charge 2.00%
Service Charge Intermediary Portion 0.00% Risk Rating
* Please refer to page 2 under “Statutory Disclosure and General Terms & Conditions”
** Additional Information can be obtained from Portfolio Charges Brochure on www.stanlib.com
Conservative Moderate Aggressive

Please refer to page 2 for more details regarding this portfolio as well as other
important information for consideration

pg 1 of 2
Stanbic Equity Fund As at 31 March 2009

Who should Invest Portfolio Manager

The Stanbic Equity Fund is suitable for smaller pension funds, private individuals seeking medium John Mackie
to long-term capital and income growth through exposure to local Botswana and offshore equity
and fixed interest markets. The fund offers the smaller investor access to an actively managed John worked for SMB’s Treasury Division
investment suitable for planning towards a successful future retirement. The fund offers capital and for 11 years, as a money market dealer,
income growth at a moderate level of risk. and then in corporate foreign exchange.
He joined SCMB Asset Management in
1996 as a portfolio manager and now has
investment responsibility for all Africa (ex
SA) portfolios.

Baboni Mogasha
A recent CFA graduate, Baboni is currently
the Chief Investment Officer at Stanbic
Investment Management Services,
responsible for all investment decisions,
including strategic asset allocation,
research and portfolio management.

Benefits Quarterly Comments

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Unit trusts are generally medium to long-term investments. The value of unit trusts may go down as well as up and ZKLFKGHFOLQHGE\RYHUWKHTXDUWHU$%&+%,+/)1%%
past performance is not necessarily a guide to the future. An investment in a unit trust is not the same as a deposit ,PDUDDQG6WDQ&KDUWH[SHULHQFHGQHJDWLYHUHWXUQVRYHUWKH
with a banking institution. A constant price will be maintained for the units of all Money Market Portfolios. It is TXDUWHUDXJPHQWLQJWKHQHJDWLYHGHFOLQHVRIWKHLQGH[
advisable that one consult a financial advisor before making an investment. Where different classes of unit trust
apply to certain Portfolios, they would be subject to different fees and charges. A schedule of fees and charges 7KHRIIVKRUHHTXLW\SRUWIROLRUHWXUQHGDQHJDWLYHDJDLQVWD
andmaximum commissions is available on request from the Manager. Commission and incentives may be paid and
if so, would be included in the overall costs. A Fund of Funds Portfolio only invests in other unit trust schemes, EHQFKPDUNUHWXUQRIQHJDWLYH7KHIXQGVRXWSHUIRUPDQFH
which levy their own charges, which could result in a higher fee structure for these portfolios. A Feeder Fund RIWKHEHQFKPDUNZDVRQWKHEDFNRIDGHFLVLRQWDNHQE\
Portfolio only invests in the units of a single Portfolio of a unit trust scheme apart from assets in liquid form.The PDQDJHPHQWLQWKHWK4XDUWHURIWRVKLIWWRZDUGVPRUH
Manager reserves the right to close certain funds from time-to-time in order to manage them more efficiently. More GHIHQVLYHVWRFNVVXFKDVWHFKQRORJLFDODQGSKDUPDFHXWLFDOVLQ
details are available from theManager. The holdings of offshore investments in certain portfolios may be subject to WKHIDFHRIYRODWLOHHTXLW\PDUNHWVDQGPRYHDZD\IURPPRUH
current Bank of Botswana regulations. Forward pricing is used. Fluctuations or movements in exchange rates may F\FOLFDOVWRFNVVXFKDVILQDQFLDOVDQGLQGXVWULDOFRXQWHUV6KDUS
cause the value of underlying international investments to go up or down. The Manager undertakes to repurchase
units at the price calculated according to the requirements of the Act and on the terms and conditions of the relevant HTXLW\UDOOLHVZHUHH[SHULHQFHGLQ0DUFKDVZHVDZLQFUHDVHG
Deeds. Payment will be made within 14 days of receipt of a valid repurchase form. Please note that there is a 30- LQYHVWRUFRQILGHQFHUHWXUQHGGXHWRPRUHWUDQVSDUHQWDQG
day clearance period for cheques and direct deposits. The Bank of Botswana shall not be liable by virtue of its GHWDLOHGDQQRXQFHPHQWVRISURSRVHGVWLPXOXVSDFNDJHVJLYLQJD
licensing of this undertaking or by reason of its exercise of the functions conferred on it by legislation in relation to FOHDUHUSLFWXUHRIWKHGLUHFWLRQDQGPHWKRGRORJLHVJRYHUQPHQWZLOO
this undertaking, for any default of the undertaking. The licensing of this undertaking does not constitute a warranty WDNHLQDQDWWHPSWWRUHVXVFLWDWHWKHJOREDOHFRQRP\
by the Bank of Botswana as to the credit worthiness or financial standing of the various parties to the undertaking.
All Portfolios are valued on a daily basis at 12h00. Investments will receive the price of the following day.
Repurchases will receive the price of the following day if received prior to 12h00. The price, which will apply to an
instruction received on a Saturday/Sunday or a public holiday will be that of the following Monday/trading day. A
repurchase instruction may be faxed but must be confirmed by sending the Manager the original of the same. In the
case of a change of name/signature(s), a certified copy of the relative document with specimen signatures (new and
previous) must accompany this request. If this form is signed under Power of Attorney, a certified copy of such
Power must be attached unless previously recorded. In all cases, where the registered owners is a trust, a company
or institution, a copy of the Letter of Authority, Company Resolution or similar is required to support the request. A
prospectus is available from the SIMS office.
Trustees : Barclays Bank Botswana, Barclays House, Gabarone

Contact Details

STANLIB Botswana
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Contact Centre 391 0310

www.stanlib.com

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