Page 3 - Reeftankers - Annexure B Sasfin

INVESTMENT REPORT

CONTENTS

Part A Economic and Market Overview

1. Economic Overview ......................................................................................... 3
2. Financial Market Performances ......................................................................... 6

Part B Review of Fund Performance

3. Portfolio Performance ...................................................................................... 8

4. Market Values ................................................................................................ 8

Part C Overview of Investment Portfolios

5. Asset Allocation .............................................................................................. 9

Part D Regulation 28 Compliance

6. Regulation 28 Exposure ................................................................................. 11

Part E Portfolio Fact Sheets

7. Portfolio Fact Sheets ..................................................................................... 12

Part F Glossary

8. Glossary ..................................................................................................... 13

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Investment Report Q1 2018