Total Expense Ratio and Transaction Costs

The Total Expense Ratio (TER) and Transaction Costs (TC) disclosure is prepared in accordance with the Standard: ‘Calculation and disclosure of Total Expense Ratios and Transaction Costs’, published by the Association for Savings & Investment South Africa (ASISA) and more information can be found on the ASISA website www.asisa.org.za

Background

TER

The TER is a measure that can be used by investors and advisors to determine how much of a Financial Product’s underlying assets are relinquished as payment for services rendered in the administration of the Financial Product. This is expressed as a percentage of the daily NAV of the Financial Product calculated over a period of three years on an annualised basis.

TC

TC is a measure that can be used by investors and advisors to determine the costs incurred in buying and selling the underlying assets of a Financial Product. This is expressed as a percentage of the daily NAV of the Financial Product calculated over a period of three years on an annualised basis.

Ranmore Global Equity Fund plc

The USD Advisor Class carries an additional 0.5% of NAV fee which is paid to the financial intermediary.

A higher TER does not necessarily imply a poor return, nor does a low TER imply a good return. The current TER may not necessarily be an accurate indication of future TERs.

Transaction Costs are a necessary cost in administering the Financial Product and impacts Financial Product returns. It should not be considered in isolation as returns may be impacted by many other factors over time including market returns, the type of Financial Product, the investment decisions of the investment manager and the TER.