Legal information

Your use of our website and email services (such as the receipt via email of fact sheets, periodic reports and/or price and performance information) is subject to you accepting and complying with our terms of use. By using our website or email services, you agree and accept all of our terms of use.

Financial Services Provider

Allan Gray Proprietary Limited (“Allan Gray”) is authorised as a financial services provider by the Financial Sector Conduct Authority in South Africa in terms of the Financial Advisory and Intermediary Services Act 2002. Allan Gray is not authorised to and does not provide financial advice. No information contained on this website should be construed, or relied upon, as advice. If you require financial and/or investment advice, please engage the services of an independent financial adviser.

Investments not available to certain investors

The financial services, products or investments referred to on this website are not available to residents in jurisdictions where such availability or distribution would contravene local law or regulation. The information on this website is not addressed to, or intended for use by these persons.

If you intend to obtain any product or service from Allan Gray or its subsidiaries that is described on this website, you must inform Allan Gray whether or not you are a South African person and whether or not you are not allowed to obtain such products or services from Allan Gray in your home jurisdiction. You must take note of the terms relating to eligible investor status in the terms and conditions and the account opening documents of each Fund. You will be required to confirm your status when investing.

Terms of distribution

The Allan Gray Africa ex-SA Equity Fund Limited, Allan Gray Africa ex-SA Bond Fund Limited, Allan Gray Africa Equity Fund Limited, and Allan Gray Frontier Markets Equity Fund Limited (“the Africa and Frontier Funds”) are licensed to conduct investment business by the Bermuda Monetary Authority.

No communication on this website constitutes a financial promotion, a recommendation, an offer to sell or a solicitation to buy shares or units of the Africa and Frontier Funds. Subscriptions are only valid if made on the basis of the current respective Prospectus of the Africa and Frontier Funds. The distribution of the Prospectuses of “the Africa and Frontier Funds” and the offering of shares in the Africa and Frontier Fund are restricted in certain jurisdictions. No action has been taken to permit the distribution of the Prospectuses of the Africa and Frontier Funds or the offering of shares in the Africa and Frontier Funds in any jurisdiction (other than in Bermuda where they are regulated) where action would be required for such purpose. The investments referred to on this website are offered strictly according to the terms and conditions contained in the documents of the Africa and Frontier Funds.

Canada

Neither the Africa and Frontier Funds nor Allan Gray Bermuda Limited as Investment Manager of the Africa and Frontier Funds (“the Investment Manager”) have been registered or are registered under applicable Canadian laws (including as an investment fund manager) in any province or territory of Canada nor has the Investment Manager submitted to the jurisdiction of any local securities regulatory authority.

South Africa

Neither the Allan Gray Africa Equity Fund Limited nor the Allan Gray Frontier Markets Equity Fund Limited have been or are being registered under any applicable South African legislation to carry on business in the Republic of South Africa. Neither Allan Gray Bermuda Limited as Investment Manager nor Allan Gray as Investment Advisor are intending in any way to solicit investments into the above mentioned Funds from members of the public in the Republic of South Africa as contemplated in terms of the Collective Investment Schemes Control Act 2002 ("CISCA"), including but not limited to, by way of this website or the Fund's Prospectus. 

Allan Gray ex-SA Equity Fund Limited and Allan Gray ex-SA Bond Fund Limited have both been approved for marketing and solicitation in South Africa under section 65 of CISCA.

United Kingdom

The Africa and Frontier Funds are not recognised or authorised as a collective investment schemes for the purposes of the Financial Services and Markets Act 2000 of the United Kingdom. Accordingly, this communication is directed only at persons in the United Kingdom permitted under such Act (or the order made under such Act) to receive it.

United States

Neither the shares in the Africa and Frontier Funds nor the Africa and Frontier Fund themselves have been registered under any United States securities legislation and, except in a transaction which does not violate such legislation or require the registration of the Africa and Frontier Funds, the shares in the Africa and Frontier Funds are not being offered, directly or indirectly, in the United States of America or in any of its territories or possessions or areas subject to its jurisdiction or to citizens or persons from these areas.

Terms of distribution: Allan Gray Unit Trusts

Allan Gray Unit Trust Management (RF) Proprietary Limited (the ‘Management Company’) is registered as a management company under CISCA, in terms of which it operates unit trust portfolios under the Allan Gray Unit Trust Scheme, and is supervised by the Financial Sector Conduct Authority. Allan Gray is the appointed investment manager (‘Investment Manager’) of the Management Company. Collective Investment Schemes in Securities (unit trusts or funds) are generally medium- to long-term investments.  Except for the Allan Gray Money Market Fund, where the Investment Manager aims to maintain a constant unit price, the value of units may go down as well as up. Past performance is not necessarily a guide to future performance. Movements in exchange rates may also cause the value of underlying international investments to go up or down.  The Management Company does not provide any guarantee regarding the capital or the performance of its unit trusts. It is therefore important to understand the risks involved before investing. Funds may be closed to new investments at any time in order for them to be managed according to their mandates. Unit trusts are traded at ruling prices and can engage in borrowing and scrip lending. A schedule of fees, charges and maximum commissions is available on request, at no charge, from Allan Gray. The trustee/custodian of the Allan Gray Unit Trust Scheme is Rand Merchant Bank, a division of FirstRand Bank Limited. The trustee/custodian can be contacted at RMB Custody and Trustee Services: Tel: +27 (0)87 736 1732 or www.rmb.co.za

Ownership and copyright

This website and its content are owned by Allan Gray and/or its licensors and are protected by copyright and other intellectual property laws. All rights not expressly granted are reserved. Any unauthorised copying, reproduction, retransmission, distribution, dissemination, sale, publication, broadcast or other circulation, or exploitation of this material will constitute an infringement of such protection. The copyright in all material vesting in Allan Gray published on this website shall continue to vest in Allan Gray. Without detracting from the above, Allan Gray authorises you to view, copy, download, print and distribute the content of this website, provided the content is used only for your information, non-commercial and private purposes. You are expressly prohibited from incorporating any proprietary material of Allan Gray and/or its licensors taken from this website in any other work, publication or website either of your own or belonging to any third party. The trademarks, logos and service marks (‘marks’) displayed on this website are registered and/or in the process of being registered. Nothing contained on this website or in the content or information provided should be construed as granting any licence or right to use any of the marks without the prior written permission of the owner and no right, title or interest in any proprietary material contained on this website is granted to you.

Content

The information and content (collectively ‘information’) accessible through this website is provided by Allan Gray as general information about Allan Gray and its products and services. Allan Gray does not guarantee the suitability or potential value of any information or particular investment source. No information on this website is intended to provide, nor does it constitute, financial, tax, legal, investment, or other advice. You are solely responsible for determining whether any investment, investment strategy, security or related transaction is appropriate for you based on your personal investment objectives, financial circumstances and risk tolerance. It is recommended that you consult an independent financial adviser regarding your specific situation if you require financial and/or investment advice. Nothing contained in any service provided or any content on this website constitutes a solicitation, recommendation, endorsement or offer by Allan Gray, including in regard to buying, selling or holding any securities or investments, but shall merely be considered to be an invitation to do business.

Allan Gray Online

For our terms and conditions relating to the secure section of our website, click here.  For some tips on how to improve your online security, click here.

Site requirements

For recommendations on settings and software when accessing our website, click here.

Important information 

The content on this website and the information contained therein is made available to you ‘as is’ and ‘as available’. Allan Gray has taken and will continue to take care that all information provided on this website is true and correct in so far as this is under Allan Gray’s control. However, Allan Gray does not warrant that this website, the content provided or information contained therein will be error-free or will meet any particular criteria of accuracy, completeness or reliability of information, performance or quality and disclaims any liability for any loss, damage (whether direct or consequential) or expense of any nature whatsoever which may be suffered as a result of or which may be attributable, directly or indirectly, to the use of or reliance upon any information, links or service provided through this website. Although Allan Gray has taken reasonable measures to ensure the integrity of this website, including the content provided and the information contained therein, there is no warranty of any kind, expressed or implied made by Allan Gray, regarding the information or aspect of any service provided. Any warranty implied by law is hereby excluded except to the extent that such exclusion would be unlawful.

Allan Gray reserves the right to suspend, terminate or modify this website, email services or these terms of use at any time without notice. Any changes will appear in this document, which you can access at Legal Information. If you use this website after the changed terms of use have been posted, you will be deemed to have accepted the changed terms of use.

Email legal notice

For our email legal notice click here.

Privacy policy

For details about our privacy policy click here.

Complaints Procedure

For details about our complaints procedure click here.

Index disclaimers

FTSE/JSE Indices

The FTSE/JSE All Share Index is calculated by FTSE International Limited (‘FTSE’) in conjunction with the JSE Limited (‘JSE’) in accordance with standard criteria. The FTSE/JSE All Share Index is the proprietary information of FTSE and the JSE. All copyright subsisting in the FTSE/JSE All Share Index values and constituent lists vests in FTSE and the JSE jointly. All their rights are reserved. 

FTSE Russell Indices

Source: London Stock Exchange Group plc and its group undertakings (collectively, the “LSE Group”). © LSE Group 2019. FTSE Russell is a trading name of certain of the LSE Group companies. “FTSE®” “Russell®”, “FTSE Russell®”, is/are a trade mark(s) of the relevant LSE Group companies and is/are used by any other LSE Group company under license. All rights in the FTSE Russell indexes or data vest in the relevant LSE Group company which owns the index or the data. Neither LSE Group nor its licensors accept any liability for any errors or omissions in the indexes or data and no party may rely on any indexes or data contained in this communication. No further distribution of data from the LSE Group is permitted without the relevant LSE Group company’s express written consent. The LSE Group does not promote, sponsor or endorse the content of this communication.

J.P. Morgan Indices

Information has been obtained from sources believed to be reliable but J.P. Morgan does not warrant its completeness or accuracy. The Index is used with permission. The Index may not be copied, used, or distributed without J.P. Morgan’s prior written approval. Copyright 2019, J.P. Morgan Chase & Co. All rights reserved.

For further information please contact the Compliance officer at info@allangray.co.za

Your use of our email services (such as the receipt via email of fact sheets, minimum disclosure documents, periodic reports and/or price and performance information) is subject to your acceptance of and compliance with our terms of use. By using our website or email services, you agree and accept all of our terms of use.

The Financial Advisory and Intermediary Services Act, 2002

Allan Gray Proprietary Limited is an authorised financial services provider in terms of the Financial Advisory and Intermediary Services Act 2002. Allan Gray is not authorised to and does not provide financial advice. No information contained in this email communication, including attachments, should be construed, or relied upon, as advice. If you require financial and/or investment advice, please engage the services of an independent financial adviser.

Confidentiality warning

The contents of this email and any accompanying documentation are confidential and may be subject to legal privilege and client confidentiality. Any use thereof, in whatever form, by anyone other than the addressee is strictly prohibited. If you are not the intended recipient of this email or facsimile, kindly notify the sender by return email, facsimile or telephone, as well as deleting it from your system. You may not copy this email or disclose its contents to any other person, without our express written consent.

Ownership and copyright

The contents of this email and any accompanying documents relating to Allan Gray and its subsidiaries and associated companies are owned by Allan Gray and are protected by copyright and other intellectual property laws. All rights not expressly granted are reserved. Any unauthorised copying, reproduction, retransmission, distribution, dissemination, sale, publication, broadcast or other circulation, or exploitation of this material will constitute an infringement of such protection. Without detracting from the above, Allan Gray hereby authorises you to view, download, print and distribute the content of this email and any accompanying documents, provided the content is used only for your information, non-commercial and private purposes.

The copyright in all material vesting in Allan Gray provided through email services shall continue to vest in Allan Gray. You are expressly prohibited from incorporating any proprietary material of Allan Gray and/or its licensors taken from this email in any other work, publication, email or website either of your own or belonging to any third party. The trademarks, logos and service marks (‘marks’) displayed in this email or accompanying documents are registered and/or in the process of being registered. Nothing contained in this email should be construed as granting any licence or right to use any of the marks without the prior written permission of the owner and no right, title or interest in any proprietary material contained in this email is granted to you.

Electronic communications

By communicating with us through electronic means, you consent to receiving communications electronically and agree that all agreements, notices, disclosures and all other communications transmitted by electronic means satisfy any legal requirement, including but not limited to the requirement that such communication should be in writing. Unless otherwise agreed, we are only deemed to have received an email once we have confirmed receipt thereof; and we are only deemed to have sent an email once reflected as 'sent' on our email server.

Important information

Allan Gray has taken and will continue to take care that all information provided in this email is true and correct, in so far as this is under Allan Gray’s control. However, Allan Gray does not warrant that this email, the content provided or information contained therein will be error-free or will meet any particular criteria of accuracy, completeness or reliability of information, performance or quality and disclaims any liability for, any loss, damage (whether direct or consequential) or expense of any nature whatsoever which may be suffered as a result of or which may be attributable, directly or indirectly, to the use of or reliance upon any information, links or service provided through this email. Furthermore Allan Gray shall not be liable if any variation is made to any document or correspondence emailed unless the variation has been approved by the sender. Allan Gray cannot and will not be held liable for any harm or loss resulting from viruses in this email or accompanying documents, including data corruption resulting therefrom. Allan Gray disclaims liability or legal responsibility for the non-delivery or incorrect delivery for whatever reason of the contents of this email, its effect on electronic devices or its transmission in an unencrypted medium.

Although Allan Gray has taken reasonable measures to ensure the integrity of this email, including the content provided and the information included, there is no warranty of any kind, expressed or implied made by Allan Gray, regarding the information or any aspect of any service provided. Any warranty implied by law is hereby excluded except to the extent that such exclusion would be unlawful.

Allan Gray reserves the right to suspend, terminate or modify the email services or these terms of use at any time without notice. Any changes will appear in this document, which you can access at any time at Email Legal Notice. If you use the email services after the changed terms of use have been posted, the changed terms of use will be considered as accepted by you.

Personal use by employees

Allan Gray is not able to distinguish between business and personal emails. Users who make use of Allan Gray's email system do so at their own risk and accept responsibility for any actions or consequences that arise from such personal use. Any views or opinions expressed in such messages are those of the individual sender and do not create obligations on or represent any commitment by Allan Gray, except where the sender specifically states it to be the views or opinions of Allan Gray. If this message contains offensive, derogatory or defamatory statements or materials, it means the message has been sent outside the sender's scope of employment with Allan Gray and only the sender can be held liable in his/her personal capacity.

Interception and monitoring

Users who make use of Allan Gray's email system do so at their own risk and accept responsibility for any actions and consequences that arise from use. In general terms, Allan Gray does not engage in blanket monitoring of communications. Allan Gray does however reserve the right at any time and without notice to intercept and monitor communications and stored files sent or received over or stored on Allan Gray's information and communications systems, provided that such monitoring and interception is: performed by an Allan Gray representative properly authorised by Allan Gray; for a lawful purposes; and strictly in accordance with Allan Gray's Monitoring Policy and Procedures.

Offer

Nothing contained in this email constitutes a solicitation, recommendation, endorsement or offer by Allan Gray, but shall merely be deemed to be an invitation to do business.

Governing law

This email and any accompanying documentation are to be interpreted and implemented in accordance with the laws of the Republic of South Africa unless specifically stated otherwise.

Company details

Allan Gray Proprietary Limited (Registration no: 2005/002576/07)
1 Silo Square
V&A Waterfront
Cape Town
8001.

Directors: RJ Formby, WB Gray*, AR Lapping, IS Liddle*, TJ Mahuma*, T Mhlambiso*, KC Morolo*
*(Non-executive)

Company secretary: CE Solomon

For further information please contact the Compliance officer at info@allangray.co.za

The financial services, products or investments referred to on this website are not available to persons resident in jurisdictions where their availability or distribution would contravene local laws or regulations and the information on this website is not intended for use by these persons. This website is for information only and does not in any way constitute a solicitation or offer by Allan Gray Proprietary Limited or any of its associates or subsidiaries (collectively “Allan Gray”) to buy or sell any financial instruments or to provide any investment advice or service.

By selecting one of the countries below I confirm that I have read and understood the above and that:

(a) I am not a South African citizen; or 
(b) I do not reside in the Republic of South Africa; or 
(c) I am not otherwise a person to whom the communication of the information contained in this website is prohibited by the laws of my home jurisdiction; and 
(d) I am not acting for the benefit of any such persons mentioned in (a),(b) and (c) and 
(e) I confirm that any investment with Allan Gray is based on my own initiative and not due to any offer or solicitation by Allan Gray.