Balanced Defensive Fund
Investment objective	Provide a reasonable level of current income and seeks to preserve capital in real terms, with a lower volatility over the medium to long-term
Fund mandate	Broadly diversified across all asset classes and sectors Follows an active asset allocation strategy, combined with an appropriate security selection process This is not a guaranteed fund
Asset allocation	Defensive Max total equity exposure: 40% Max international equity exposure: 20%
Regulation 28	Complies
Benchmark	Alexander Forbes 3-month (STeFI) Index + 3% p.a.
Return objective	Outperform the benchmark
Risk of monetary loss	Slight in periods greater than 6 months Moderate in periods between 3 and 6 months Higher in periods less than 3 months
Recommended term	2 years and longer
Target market	Investors wanting to protect long-term retirement capital in real terms within a retirement investment vehicle Investors seeking a defensive investment solution that would allow them to draw a reasonable level of income coupled with a strong focus on capital preservation in real terms Investors with a low tolerance for the volatility of returns associated with equity investing Not suitable for investors seeking a vehicle that aims to aggressively accumulate capital
Fee structure (excl. VAT)	Initial fee: Coronation: 0.00% Annual management fee: Base fee: 1.50% The ongoing fee structure will be changed with effect from 1 November 2009. If the fund delivers a negative return over a rolling 12-month period, Coronation will forego the total base fee
Income distribution	Quarterly
Investment minimum	R5 000 lump sum and/or R500 monthly debit order
Fund category	Domestic Asset Allocation Prudential Low Equity
Launch date	1 February 2007
Portfolio manager	Charles de Kock Mark le Roux