INVESTMENT PERFORMANCE

The Funds have an Investment Policy Statement which regulates how the investments must be managed. This is reviewed, along with the Funds investment strategy on an annual basis by the Funds Trustees. The Funds are currently invested in a variety of asset managers, with the investments varied across differentiated investment philosophies, styles, geographies and asset classes.

The current investment strategy is indicated in the graphic below:

Investment performance and growth in the AUM:

From the inception of the Funds in 2002, the Fund has grown from approximately R120m to a phenomenal R850m, while ensuring that beneficiaries are traced and paid timeously.  

The year ended June 2025 was wrought with volatility, beginning in 2024 where 50% of the globe were partaking in presidential elections and ending in 2025 with the volatility induced by the tariffs proposed by the President of the United States. Despite this, the Fund has managed to meet its inflation target, outperforming inflation over the year ended June 2025 by an impressive 13%. The Fund has a target of inflation plus 3%, and has outperformed this target by an average of 3.9% per annum over the past 23 years, even though the investment strategy of the Fund has throughout remained conservatively positioned.