This document provides information on the STANLIB Multi-Manager Shari'ah Balanced Fund portfolio. It includes details such as: - The portfolio size is R31.01 million - Income is declared daily and distributed bi-annually - The portfolio's benchmark allocation includes the FTSE/JSE Shari'ah ALSI 45%, STeFI Composite Index 35%, and Dow Jones Islamic World Index 15% - Minimum lump sum investment is R5,000 and minimum debit order per month is R500 - The total expense ratio is 0.00% for Class A - Top holdings include MTN Group, Sasol, Mondi, Vodacom Group, and Life Healthcare

1. Portfolio Facts
Net revenue is declared on a daily basis and distributed bi-annually.
R 31.01 million
South African - Multi Asset - High Equity
FTSE/JSE Shari'ah ALSI 45%; STeFI Composite Index (less 0.5%) 35%; Dow Jones
Islamic World Index (ZAR) 15%; 3 Month USD LIBOR 5%
30 June & 31 December
Benchmark
Income Distribution
Sector Classification
Portfolio Size
Income Declaration
JSE Code STMSA
ISIN No. ZAE000202537
Debit Order Per Month R500
Minimum Investment
Lump Sum R5,000
Launch Date 25 Mar 2015
Total Expense Ratio * 0.00%
Class A
Maximum Portfolio Charges **
Upfront Charge: Manager 0.00%
Upfront Charge: Intermediary 3.42%
Total Service Charge 1.31%
Service Charge Intermediary Portion 0.57%
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
*
**
Performance (%)
1 year 3 years 5 years
Rank (Class A) - - -
Sector - - -
Class A - - -
Benchmark - - -
Figures quoted are from Morningstar for the period ending 31 August 2015 for a lump sum, using NAV-NAV prices and do not
take any upfront manager's charge into account. Income distributions are declared on the ex-dividend date. Actual investment
performance will differ based on the upfront manager's charge applicable, the actual investment date and the date of
reinvestment of income.
Investment Policy and Objectives
The objective of the STANLIB Multi-Manager Shari’ah Balanced Fund of Funds is to provide
investors with long term capital growth.
In order to achieve this objective, the STANLIB Multi-Manager Shari’ah Balanced Fund of Funds
may invest in participatory interests or any other form of participation in portfolios of collective
investment schemes or other similar collective investment schemes including but not limited to
domestic and global equity, Islamic fixed term deposits and Sukuk as the Act may allow from time
to time: Provided that the investments are done in accordance with the manner, limits and
conditions as determined by the Registrar from time to time, and which are consistent with the
portfolio’s investment policy, as well as the Shari’ah Standards of the AAOIFI.
The portfolio will be managed in compliance with the Prudential Investment Guidelines that are
applicable to retirement funds from time to time and the investment standards of the Accounting
and Auditing Organization for Islamic Financial Institutions (AAOIFI).
STANLIB Multi-Manager Shari'ah Balanced Fund
Minimum Disclosure Document as at 31 August 2015
Underlying Portfolio's Investment Managers
Old Mutual Albaraka Equity Fund
Kagiso Islamic Balanced Fund
Old Mutual Albaraka Balanced Fund
Income Distribution
Paid in the last 12
months
Paid during
2014
2014 payments as
a % of year end
price
Risk Rating
Conservative Moderate Aggressive
Top Holdings (%)
MTN Group Limited 3.55
Sasol Ltd 3.28
Mondi Limited 3.28
Vodacom Group PTY LTD 2.18
Life Healthcare Group Holdings PTY LTD 2.05
BHP BILLITON PLC 1.86
Adcorp Holdings Ltd 1.68
Compagnie Financiere Richemont SA 1.65
Aspen Pharmacare Holdings Ltd 1.57
The Tongaat-hulett Group Ltd 1.31
Please refer to page 2 for more details regarding this portfolio as well as other important information for consideration
pg 1 of 2
Factsheet ID : 65322

2. Statutory Disclosure and General terms & Conditions
Collective Investment Schemes in Securities (CIS) are generally medium to long term investments. The value of
participatory interests may go down as well as up and past performance is not necessarily a guide to the future. An
investment in the participations of a CIS in securities is not the same as a deposit with a banking institution.
Participatory interest prices are calculated on a net asset value basis, which is the total value of all assets in the
Portfolio including any income accrual and less any permissible deductions from the Portfolio divided by the number
of participatory interests in issue. CIS are traded at ruling prices and can engage in borrowing and scrip lending.
Different classes of units apply to these portfolios and are subject to different fees and charges. A schedule of fees
and charges and maximum commissions is available on request from the company/scheme. Commission and
incentives may be paid and if so, would be included in the overall costs. This portfolio may be closed. Forward
pricing is used. Fluctuations or movements in exchange rates may cause the value of underlying international
investments to go up or down. A Portfolio of a collective investment scheme in securities may borrow up to 10% of
the market value of the Portfolio to bridge insufficient liquidity as a result of the redemption of participatory interests,
and may also engage in scrip lending. Liberty is a full member of the Association for Savings & Investment SA
(ASISA). The Manager is a member of the Liberty group of companies. All portfolios are valued on a daily basis at
15h30. Investments and repurchases will receive the price of the same day if received prior to 15h30. For Money
Market funds, instructions must reach the management company before 12h00 to ensure same day value. In terms
of Shari’ah Law STANLIB will purify the dividend income earned by automatically deducting all non-permissible
income from the total dividend income distribution due to the investor. All non-permissible income deducted will be
donated on behalf of investors to charitable organizations, as directed by the Shari’ah Supervisory Board.
Standard Chartered Bank, 4 Sandown Valley Crescent, Sandton, 2196, Tel: 011 217 6600Trustees :
Fund Features
The portfolio must comply with provisions of the Collective Investment Schemes Control Act, No. 45
of 2002 and the Regulations thereto, as amended from time to time.
The portfolio must comply with the Shari’ah Standards of the AAOIFI as well as any additional
guidelines as required by STANLIB’s Shari’ah Supervisory Board. The following scholars have been
appointed to the Shari’ah Board: Professor Mohammad Hashim Kamali, Mufti Ahmed Suliman and
Sheikh Faizal Manjoo.
The portfolio will be managed in compliance with the Prudential Investment Guidelines that are
applicable to retirement funds from time to time.
This portfolio may have direct and /or indirect foreign exposure up to the maximum as per the
ASISA South African – Multi Asset – High Equity Portfolio category as amended from time to time.
Franchise
STANLIB Multi-Manager has a dedicated team of specialist investment professionals responsible for
providing on-going, in-depth research into the entire universe of managers, both locally and offshore.
This team makes use of both qualitative and quantitative factors to select and blend managers for an
optimally constructed solution.
STANLIB Multi-Manager is an Asset Manager with an unbiased view of the market and the overall
portfolio. Investors gain access to quality specialist managers in the market, packaged into one
solution, managed and continuously maintained as part of our rigorous process.
STANLIB Multi-Manager Shari'ah Balanced Fund
Minimum Disclosure Document as at 31 August 2015
pg 2 of 2
Contact Details
STANLIB Collective Investments (RF) Limited
Reg. No. 1969/003468/06
17 Melrose Boulevard
Melrose Arch
Johannesburg
South Africa
PO Box 202
Melrose Arch
2076
0860 123 003
www.stanlib.com
Compliance No :
Contact Centre
Quarterly Comments
Market Overview
The IMF raised its projection for economic growth in Japan and
Europe, but cut its US growth forecast for the second time this
year. US economic data was mixed, though Q1 GDP was weaker
than expected at -0.7%. China reported its slowest GDP growth in
6 years, as factory data continued to weaken. In response the
PBOC announced two interest-rate cuts to stimulate its economy.
Bonds sold off globally amidst concerns around Greece. Against
this backdrop, the All Share Index was down slightly (-0.2%) –
Industrials were resilient (+1.7%) while Resources were
hammered (-4.9%) on negative earnings growth and continued
China weakness. Property struggled (-6.2%) as bond yields
jumped despite foreign inflows. Global equities edged up in $
terms (+0.5%); the rand return was similar (+0.4%) with the rand
basically flat over the quarter.
Portfolio Review
Kagiso was our best performing managers for the quarter, aided
by good stock selection – their portfolio benefitted from
overweights to CapCo, KAP, Metair and Mondi, and underweights
to Aspen, BHP, Goldfields, and Mediclinic. Old Mutual had a
challenging quarter being hurt by their overweight position to i)
gold miners, and ii) small/mid cap shares. Their portfolio
benefitted from overweights to Mondi and Cashbuild, and
underweights to Anglo and Netcare. But their detracting active
positions outweighed, which included overweights to Sibanye
Gold, South32, Nu-World, Pan African Resources and Howden,
and underweights to MTN and Sasol.
Portfolio positioning and Outlook
Markets have become increasingly challenging with the tug-of-war
intensifying between global growth concerns (particularly China)
being countered by highly supportive global liquidity measures.
The divergence between Industrials on the one hand and
Resources on the other hand has been pronounced. The allure of
“value” that resource shares have offered has left many investors
with scars, bringing us to a point of near universal hatred for the
Resource sector. While we acknowledge the negatives (labour
issues, Eskom woes, and global oversupply amidst a China
slowdown), a lot of bad news seems to be priced into our miners.
While anything can happen in the short term, we would caution
that such lopsided sentiment tends to foreshadow excess returns
for patient long-term investors (which should bode well for
Shari’ah funds in general). We are satisfied with the Fund’s
portfolio construct, which we feel positions it well to achieve its
longer-term objectives.
Naweed joined STANLIB Multi-Manager as
a Quant Analyst in 2014. Prior to this, he
worked as an analyst for a boutique
long/short equity hedge fund. He holds a
BSc Hons. degree in actuarial science.
Naweed Hoosenmia
Suhail Mohamed
Suhail joined STANLIB in 2010 as the
Shari’ah Manager, responsible for the
Shari’ah compliance for the fund as well as
product development and enhancement.
He holds a BCom (Hons) in Financial
Management and a MA in Islamic Finance.
Portfolio Manager