AMPLATS GROUP PROVIDENT FUND - JM Bushajmbusha.com/Documents/AMPLATS - 30 Apr 2015.pdf · AMPLATS...

AMPLATS GROUP PROVIDENT FUNDJM BUSHA ABSOLUTE ALLCLASS

INVESTMENT PORTFOLIO REPORT

JM BUSHA Asset Managers Pty Ltd

April 30, 2015

AMPLATS GROUP PROVIDENT FUND

Contents Page 1Balance Sheet Income Statement Page 3Portfolio Statements

Fixed Interest & Equity Portfolio Page 4Fixed Interest Derivatives Page 5Equity Derivatives Page 6

TransactionsMoney Market Page 7Bonds Page 8Equities Page 9

Cash Analysis Page 10Cash Statement Page 11Interest Statement Page 12Coupons Statement Page 13Dividends Statement Page 14Outstanding Settlements Page 15Performance Analysis

Statement M Page 16Fees Page 17Fact Sheet Page 18Contact Details Page 19

TABLE OF CONTENTS

April 30, 2015

Page 1


Capital Employed

Funds Invested 308,699,449.13Contributions 746,806,315.38Withdrawals - Client -431,565,207.57Withdrawals - Fees -6,541,658.68

Accumulated Income 243,126,108.92Since Inception 227,649,922.26Reporting Month 15,476,186.66

551,825,558.05Investments at Clean Market Value 547,479,218.50Money Market Portfolio 17,957,299.40Bond Portfolio 222,785,711.15Equity Portfolio 306,736,207.95

Current assets 4,503,654.67Accrued Income 2,930,524.43Outstanding Settlements 1,573,130.24

Current liabilities -157,315.12Outstanding Settlements 0.00Management Fees Due -157,315.12

551,825,558.05

BALANCE SHEET

April 30, 2015

Page 2


Total capital gains/(losses) 13,099,515.02

Fixed Interest 57,121.50Equities 13,042,393.52

Investment income earned 2,538,578.31

Interest Earned - Money Market 69,751.44Interest Earned - Bonds 1,107,013.79Dividends Earned - Equities 1,361,813.08

Less Expenses -161,906.67

Bank Charges -4,591.55Management Fees -157,315.12

Net income for the month 15,476,186.66

INCOME STATEMENT

April 30, 2015

Page 3

AMPLATS GROUP PROVIDENT FUND0.00%

Deal Date Expiry Yield Book ValuePrevious

Month's ValueTotal Accrued

IncomeTotal Market

Value % Weight DurationMonthly Accrued

Income Investment Type

Money Market Portfolio

0 - 3 MonthsNedbank 30-Apr-15 30-Apr-15 5.000 7,831,516.31 670,422.30 5,228.92 7,836,745.23 1.42% 0.00 12,564.24 Custody AccountSanlam 30-Apr-15 30-Apr-15 5.600 1,000,000.00 1,000,000.00 4,602.74 1,004,602.74 0.18% 0.00 4,602.74 Call DepositAfrican Bank 30-Apr-15 30-Apr-15 7.000 1,116,205.69 1,109,608.84 6,422.01 1,122,627.70 0.20% 0.00 6,422.01 Call DepositStandard Bank-SAFEX 30-Apr-15 30-Apr-15 0.000 0.00 0.00 0.00 0.00 0.00% 0.00 0.00 Safex AccountSafex Margin Account 30-Apr-15 30-Apr-15 0.000 0.00 0.00 0.00 0.00 0.00% 0.00 0.00 Margin AccountSasfin 08-Jan-15 08-Apr-15 6.250 0.00 1,014,212.33 0.00 0.00 0.00% 0.00 1,372.50 Fixed Term DepositNedbank 20-Jan-15 20-May-15 6.300 1,000,000.00 1,012,254.79 17,432.88 1,017,432.88 0.18% 20.00 5,178.08 Fixed Term DepositABSA 20-Jan-15 20-Jul-15 6.625 1,000,000.00 1,012,886.99 18,332.19 1,018,332.19 0.18% 81.00 5,445.21 Fixed Term Deposit

3 - 6 MonthsStandard Bank 20-Jan-15 20-Aug-15 6.700 2,000,000.00 2,026,065.75 37,079.45 2,037,079.45 0.37% 112.00 11,013.70 Fixed Term DepositInvestec 08-Jan-15 08-Oct-15 7.000 1,000,000.00 1,015,917.81 21,671.23 1,021,671.23 0.19% 161.00 5,753.42 Fixed Term Deposit

6 - 9 MonthsABSA 20-Jan-15 20-Jan-16 6.925 2,000,000.00 2,026,941.10 38,324.66 2,038,324.66 0.37% 265.00 11,383.56 Fixed Term Deposit

9 - 12 MonthsNedbank 20-Mar-15 18-Mar-16 7.250 1,009,577.40 1,011,983.79 8,422.36 1,017,999.76 0.18% 323.00 6,015.97 Fixed Term Deposit

17,957,299.40 11,900,293.70 157,516.44 18,114,815.84 3.28% 75.32 69,751.44 0.00

Outstanding Settlements 1,415,815.12 221,297.31 1,415,815.12 0.26%

Total Money Market 19,373,114.52 12,121,591.00 157,516.44 19,530,630.96 3.54% 75.32 69,751.44 0.00

MONEY MARKET PORTFOLIO STATEMENT

April 30, 2015

Page 4


Expiry Nominal Yield Book Value Clean ValueTotal Accrued

IncomeTotal Market

Value % Weight DurationMonthly Accrued

Income Monthly Performance

Bond Market Portfolio

0 - 3 YearsABL11A 29-Sep-14 1,750,300 7.750 1,757,540.29 1,731,349.68 17,311.17 1,748,660.84 0.32% -0.61 13,211.09 -2,764.42ABLI05 18-Feb-18 13,000,000 4.760 13,240,566.30 13,883,907.70 119,524.69 14,003,432.39 2.54% 2.61 44,984.66 316,299.10ABS5 01-May-15 2,000,000 6.775 1,934,040.80 2,000,083.60 2,274.00 2,002,357.60 0.36% -0.01 13,871.20 -2,228.00EL15 29-Jun-15 3,000,000 1.200 3,202,348.70 4,002,683.49 41,997.65 4,044,681.14 0.73% 0.15 9,501.10 -7,371.07R211 31-Jan-17 3,000,000 0.660 3,126,230.50 3,938,609.49 24,838.25 3,963,447.74 0.72% 1.70 7,574.93 50,694.94TN17 14-Nov-17 5,000,000 8.075 4,712,063.40 5,131,803.50 -10,137.00 5,121,666.50 0.93% 2.22 38,647.00 -35,026.00

3 - 7 YearsABS6 01-Jun-20 15,000,000 8.815 14,367,372.13 14,628,996.00 525,699.00 15,154,695.00 2.75% 3.92 97,726.50 -78,414.00COJ04 05-Jun-18 1,000,000 8.615 844,660.10 1,010,202.90 37,479.50 1,047,682.40 0.19% 2.55 7,150.70 -3,150.80COJ07 23-Mar-21 2,000,000 9.545 2,016,851.20 2,108,554.00 25,990.20 2,134,544.20 0.39% 4.29 17,130.00 -15,430.00DV22 07-Feb-20 2,000,000 8.405 1,921,985.80 2,080,472.00 45,567.20 2,126,039.20 0.39% 3.72 15,016.60 -12,303.80EMM01 28-Jul-20 4,000,000 9.385 4,236,199.40 4,190,526.00 113,411.60 4,303,937.60 0.78% 3.89 33,560.80 -27,560.40EMM02 11-Mar-21 11,000,000 9.285 11,839,758.50 11,695,839.10 180,918.10 11,876,757.20 2.15% 4.27 93,689.20 -86,318.10MGL01 15-Sep-20 2,000,000 7.175 1,984,008.70 2,008,047.60 24,219.20 2,032,266.80 0.37% 4.24 13,506.80 -1,629.20R208 31-Mar-21 2,000,000 7.535 1,884,098.00 1,926,066.60 13,315.00 1,939,381.60 0.35% 4.73 10,726.00 -13,363.20R212 31-Jan-22 3,000,000 1.380 3,045,659.25 4,143,817.38 27,262.91 4,171,080.29 0.76% 6.14 8,314.24 60,036.79WS05 01-Aug-18 4,000,000 1.100 7,117,561.10 9,538,295.69 109,281.50 9,647,577.19 1.75% 3.00 33,682.43 213,090.89

7 - 12 YearsABS7 11-Sep-26 18,000,000 9.545 17,301,893.30 17,076,868.20 243,025.20 17,319,893.40 3.14% 6.86 125,852.40 -173,181.60EMM03 04-May-24 3,000,000 9.745 3,190,685.40 3,053,944.20 1,652.10 3,055,596.30 0.55% 5.86 25,194.00 -27,232.80I2025 31-Jan-25 5,000,000 1.430 5,353,619.00 6,024,882.50 23,537.09 6,048,419.59 1.10% 8.82 7,178.30 149,096.00NRA022 31-Oct-22 1,000,000 9.135 1,120,766.90 1,166,181.30 2,013.70 1,168,195.00 0.21% 5.06 10,236.30 -10,568.30NRA023 31-May-23 6,000,000 1.825 7,851,225.40 10,445,088.36 181,563.67 10,626,652.03 1.93% 6.72 33,474.44 205,312.89R197 07-Dec-23 2,000,000 1.420 3,934,535.50 5,741,214.40 106,533.88 5,847,748.28 1.06% 6.95 20,559.99 116,384.00TN25 19-Aug-25 16,000,000 9.695 16,577,380.80 15,797,916.80 316,492.80 16,114,409.60 2.92% 6.32 120,766.40 -148,377.60

12+ YearsEL28 02-May-28 13,170,000 1.890 14,617,797.78 16,504,636.69 4,288.42 16,508,925.11 2.99% 11.11 4,915.55 484,107.22EL29 19-Nov-29 10,000,000 1.870 9,808,279.00 11,369,344.28 99,043.65 11,468,387.93 2.08% 12.55 17,062.16 385,175.79ES33 15-Sep-33 11,000,000 9.495 9,143,121.10 9,106,830.70 117,533.90 9,224,364.60 1.67% 8.92 65,547.90 -165,304.70FRS101 31-Jan-38 5,000,000 2.170 4,738,947.51 5,810,944.00 30,950.83 5,841,894.83 1.06% 17.67 9,439.11 -1,040,824.00HWAY34 31-Jul-34 13,800,000 9.465 14,018,381.71 13,538,514.84 332,239.14 13,870,753.98 2.51% 8.61 101,420.34 -278,564.04I2038 31-Jan-38 5,000,000 1.550 5,106,502.00 6,495,051.50 26,479.28 6,521,530.78 1.18% 18.04 8,075.42 169,536.50R210 31-Mar-28 3,000,000 1.450 3,562,178.50 5,359,100.65 12,109.77 5,371,210.42 0.97% 11.08 9,754.25 155,927.80TN27 14-Nov-27 12,000,000 9.745 11,453,373.10 11,275,938.00 -23,408.40 11,252,529.60 2.04% 7.29 89,244.00 -118,928.40

Total Bonds 205,009,631.17 222,785,711.15 2,773,007.99 225,558,719.14 40.88% 6.98 1,107,013.79 57,121.50

Fixed Interest Derivatives 0.00 0.00 0.00% 0.00

April 30, 2015

BOND PORTFOLIO STATEMENT

Page 4


NominalClosing

Price Clean ValueAverage

PriceTotal Market

Value % Weight Previous Close Monthly PerformanceResourcesAGL 31,810 199.33 6,340,687.30 274.30 6,340,687.30 1.15% 183.75 8.48%ANG 12,164 134.84 1,640,193.76 212.59 1,640,193.76 0.30% 116.69 15.55%ARI 18,288 108.50 1,984,248.00 158.39 1,984,248.00 0.36% 98.88 9.73%BIL 30,754 284.89 8,761,507.06 232.34 8,761,507.06 1.59% 265.83 7.17%IMP 30,427 66.00 2,008,182.00 174.70 2,008,182.00 0.36% 58.83 12.19%KIO 7,050 160.16 1,129,128.00 400.38 1,129,128.00 0.20% 156.00 2.67%MND 25,279 239.76 6,060,893.04 106.19 6,060,893.04 1.10% 231.86 3.41%SOL 16,630 480.63 7,992,876.90 451.02 7,992,876.90 1.45% 412.17 16.61%

35,917,716.06 35,917,716.06 6.51% 3,064,161.69

IndustrialsAPN 19,700 362.00 7,131,400.00 169.91 7,131,400.00 1.29% 384.00 -5.73%BAW 35,464 95.10 3,372,626.40 64.31 3,372,626.40 0.61% 92.80 2.48%BVT 21,398 322.68 6,904,706.64 181.57 6,904,706.64 1.25% 328.68 -1.83%CFR 95,726 106.61 10,205,348.86 54.86 10,205,348.86 1.85% 97.71 9.11%CLH 23,500 153.35 3,603,725.00 116.57 3,603,725.00 0.65% 137.63 11.42%IPL 21,092 199.49 4,207,643.08 155.91 4,207,643.08 0.76% 192.91 3.41%MDC 69,549 126.14 8,772,910.86 72.12 8,772,910.86 1.59% 121.99 3.40%MPC 27,900 254.34 7,096,086.00 120.04 7,096,086.00 1.29% 260.01 -2.18%MTN 88,309 239.00 21,105,851.00 138.91 21,105,851.00 3.82% 205.00 16.59%NPN 12,733 1871.03 23,823,824.99 370.70 23,823,824.99 4.32% 1,870.00 0.06%OMN 20,900 164.10 3,429,690.00 162.62 3,429,690.00 0.62% 172.50 -4.87%REM 31,420 264.70 8,316,874.00 163.33 8,316,874.00 1.51% 265.80 -0.41%SAB 20,624 636.00 13,116,864.00 322.72 13,116,864.00 2.38% 636.00 0.00%SHF 103,696 75.58 7,837,343.68 22.04 7,837,343.68 1.42% 76.03 -0.59%SHP 37,050 170.20 6,305,910.00 145.38 6,305,910.00 1.14% 164.27 3.61%TBS 13,176 310.00 4,084,560.00 260.84 4,084,560.00 0.74% 305.39 1.51%TFG 16,300 176.20 2,872,060.00 177.45 2,872,060.00 0.52% 180.57 -2.42%VOD 43,248 148.29 6,413,245.92 99.89 6,413,245.92 1.16% 132.69 11.76%WBO 19,400 111.35 2,160,190.00 147.61 2,160,190.00 0.39% 112.67 -1.17%WHL 67,954 89.52 6,083,242.08 60.05 6,083,242.08 1.10% 86.15 3.91%

156,844,102.51 156,844,102.51 28.42% 4,856,499.74

EQUITY PORTFOLIO STATEMENT

April 30, 2015

Page 4

FinancialsBGA 32,287 190.58 6,153,256.46 136.36 6,153,256.46 1.12% 185.00 3.02%DSY 92,723 132.08 12,246,853.84 74.94 12,246,853.84 2.22% 124.80 5.83%DSYN 0 30.67 0.00 30.67 0.00 0.00% 30.67 0.00%FSR 306,588 56.83 17,423,396.04 21.76 17,423,396.04 3.16% 55.84 1.77%INP 103,562 114.00 11,806,068.00 68.64 11,806,068.00 2.14% 101.56 12.25%MMI 156,361 33.85 5,292,819.85 17.70 5,292,819.85 0.96% 32.82 3.14%NED 30,512 256.78 7,834,871.36 156.61 7,834,871.36 1.42% 237.78 7.99%OML 282,738 42.96 12,146,424.48 16.25 12,146,424.48 2.20% 40.27 6.68%RMH 108,885 71.72 7,809,232.20 32.76 7,809,232.20 1.42% 69.88 2.63%SBK 75,549 174.60 13,190,855.40 108.04 13,190,855.40 2.39% 168.00 3.93%SLM 133,812 76.97 10,299,509.64 32.22 10,299,509.64 1.87% 78.37 -1.79%

104,203,287.27 104,203,287.27 18.88% 5,079,750.27

Total Equities 296,965,105.84 296,965,105.84 53.82% 13,000,411.70

Equity Derivatives 9,729,120.29 9,771,102.11 1.77% 41,981.82

Total Portfolio 551,825,558.05 100.00%

Page 4


EQUITY OPTIONS

Underlying Instrument Trade Date Expiry Date

Option Type Position Option Status Nominal Strike Spot Premium Option Value Total Market Value

J200 30-May-12 20-Jun-13 Structured Overlay Out-the-Money 344 29,089 48,195 8,500,000.00 0.00 0.00

Total 9,771,102.11

FUTURES

Instrument Trade Date Expiry Date Nominal Spot Total Market Value

Total 0.00

Total Derivatives 9,771,102.11

April 30, 2015

EQUITY DERIVATIVES

Page 6


Transaction Date Expiry Date Yield Book Value

Total Consideration Total Interest Investment Type

Purchases

0 - 3 Months

3 - 6 Months

6 - 9 Months

9 - 12 Months

Total Money Market Purchases 0.00 0.00 0.00

Sales

0 - 3 MonthsSasfin 08-Apr-15 08-Apr-15 6.250 1,000,000.00 1,015,410.96 15,410.96 Fixed Term Deposit

6 - 9 Months

9 - 12 Months

Total Money Market Sales 1,000,000.00 1,015,410.96 15,410.96

April 30, 2015

MONEY MARKET TRANSACTIONS

Page 7


Transaction Date Settlement Date Yield Nominal

Clean Value Purchased /

(Sold)

Interest Purchased /

(Sold)Total

Consideration Book ValueCapital Profit /

(Loss)

Purchases

0 - 3 Years

3 - 7 Years

7 - 12 Years

12+ Years

Total Bonds Purchased 0 0.00 0.00 0.00 0.00 0.00

Sales

0 - 3 Years

3 - 7 Years

7 - 12 Years

12+ Years

Total Bonds Sold 0 0.00 0.00 0.00 0.00 0.00

Total Bond Transactions 0 0.00 0.00 0.00 0.00 0.00

April 30, 2015

BOND TRANSACTIONS

Page 8


Transaction Date

Settlement Date Nominal Price

Clean Consideration

Brokerage Fee Booking Fee

Insider Levy V.A.T. M.S.T.

Total Consideration Profit / (Loss)

Purchases

Resources

Industrials

FinancialsDSY 01-Apr-15 08-Apr-15 6,584 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

Total Equities Purchased 6,584 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

Sales

Resources

Industrials

FinancialsDSYN 01-Apr-15 08-Apr-15 6,584 30.67 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

Total Equities Sold 6,584 30.67 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

Total Equity Transactions 13,168 30.67 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

April 30, 2015

EQUITY TRANSACTIONS

Page 9


Date Description Debit Credit01-Apr-15 Sanlam Interest Received 4,756.1602-Apr-15 Management Fees -151,338.3507-Apr-15 NED Dividend Received 173,308.1607-Apr-15 Equity Settlement -592,560.0008-Apr-15 Client Contribution 12,292.9308-Apr-15 Transfer From Sasfin FD 1,015,584.8309-Apr-15 Client Contribution 900,000.0010-Apr-15 Service Fees -4,518.3510-Apr-15 Client Contribution 21,616.5710-Apr-15 Client Withdrawal -1,354,163.0713-Apr-15 SOL Dividend Received 116,410.0015-Apr-15 Client Contribution 273,377.8620-Apr-15 SLM Dividend Received 301,077.0020-Apr-15 BGA Dividend Received 169,506.7520-Apr-15 BVT Dividend Received 91,155.4820-Apr-15 WBO Dividend Received 21,340.0020-Apr-15 Client Contribution 8,086,172.4524-Apr-15 Service Fees -73.2026-Apr-15 Client Contribution 1,878.1728-Apr-15 SBK Dividend Received 256,111.1128-Apr-15 AGL Dividend Received 199,327.5028-Apr-15 Client Withdrawal -2,452,231.6328-Apr-15 Nedbank Interest 10,813.6430-Apr-15 NRA022 Coupon Received 61,250.00

CASH ANALYSIS

April 30, 2015

Page 10


Date

Nedbank Cust Sanlam African BankStandard Bank / SAFEX Inter MTM Bonds MTM Equities Margin Call Fees Margin Nedbank Custody Sanlam African Bank

Standard Bank / SAFEX Inter

Std Bank / SAFEX Inter SAFEX Total Cash

Balance b/f 0.00 670,422.30 1,000,000.00 1,109,608.84 0.00 0.00 0.00 2,780,031.1401-Apr-15 4,756.16 6,596.85 0.00 675,178.46 1,000,000.00 1,116,205.69 0.00 0.00 0.00 2,791,384.1502-Apr-15 -151,338.35 0.00 523,840.11 1,000,000.00 1,116,205.69 0.00 0.00 0.00 2,640,045.8003-Apr-15 0.00 0.00 523,840.11 1,000,000.00 1,116,205.69 0.00 0.00 0.00 2,640,045.8004-Apr-15 0.00 0.00 523,840.11 1,000,000.00 1,116,205.69 0.00 0.00 0.00 2,640,045.8005-Apr-15 0.00 0.00 523,840.11 1,000,000.00 1,116,205.69 0.00 0.00 0.00 2,640,045.8006-Apr-15 0.00 0.00 523,840.11 1,000,000.00 1,116,205.69 0.00 0.00 0.00 2,640,045.8007-Apr-15 -419,251.84 0.00 104,588.27 1,000,000.00 1,116,205.69 0.00 0.00 0.00 2,220,793.9608-Apr-15 1,027,877.76 0.00 1,132,466.03 1,000,000.00 1,116,205.69 0.00 0.00 0.00 3,248,671.7209-Apr-15 900,000.00 0.00 2,032,466.03 1,000,000.00 1,116,205.69 0.00 0.00 0.00 4,148,671.7210-Apr-15 -1,337,064.85 0.00 695,401.18 1,000,000.00 1,116,205.69 0.00 0.00 0.00 2,811,606.8711-Apr-15 0.00 0.00 695,401.18 1,000,000.00 1,116,205.69 0.00 0.00 0.00 2,811,606.8712-Apr-15 0.00 0.00 695,401.18 1,000,000.00 1,116,205.69 0.00 0.00 0.00 2,811,606.8713-Apr-15 116,410.00 0.00 811,811.18 1,000,000.00 1,116,205.69 0.00 0.00 0.00 2,928,016.8714-Apr-15 0.00 0.00 811,811.18 1,000,000.00 1,116,205.69 0.00 0.00 0.00 2,928,016.8715-Apr-15 273,377.86 0.00 1,085,189.04 1,000,000.00 1,116,205.69 0.00 0.00 0.00 3,201,394.7316-Apr-15 0.00 0.00 1,085,189.04 1,000,000.00 1,116,205.69 0.00 0.00 0.00 3,201,394.7317-Apr-15 0.00 0.00 1,085,189.04 1,000,000.00 1,116,205.69 0.00 0.00 0.00 3,201,394.7318-Apr-15 0.00 0.00 1,085,189.04 1,000,000.00 1,116,205.69 0.00 0.00 0.00 3,201,394.7319-Apr-15 0.00 0.00 1,085,189.04 1,000,000.00 1,116,205.69 0.00 0.00 0.00 3,201,394.7320-Apr-15 8,669,251.68 0.00 9,754,440.72 1,000,000.00 1,116,205.69 0.00 0.00 0.00 11,870,646.4121-Apr-15 0.00 0.00 9,754,440.72 1,000,000.00 1,116,205.69 0.00 0.00 0.00 11,870,646.4122-Apr-15 0.00 0.00 9,754,440.72 1,000,000.00 1,116,205.69 0.00 0.00 0.00 11,870,646.4123-Apr-15 0.00 0.00 9,754,440.72 1,000,000.00 1,116,205.69 0.00 0.00 0.00 11,870,646.4124-Apr-15 -73.20 0.00 9,754,367.52 1,000,000.00 1,116,205.69 0.00 0.00 0.00 11,870,573.2125-Apr-15 0.00 0.00 9,754,367.52 1,000,000.00 1,116,205.69 0.00 0.00 0.00 11,870,573.2126-Apr-15 1,878.17 0.00 9,756,245.69 1,000,000.00 1,116,205.69 0.00 0.00 0.00 11,872,451.3827-Apr-15 0.00 0.00 9,756,245.69 1,000,000.00 1,116,205.69 0.00 0.00 0.00 11,872,451.3828-Apr-15 -1,985,979.38 0.00 7,770,266.31 1,000,000.00 1,116,205.69 0.00 0.00 0.00 9,886,472.0029-Apr-15 0.00 0.00 7,770,266.31 1,000,000.00 1,116,205.69 0.00 0.00 0.00 9,886,472.0030-Apr-15 61,250.00 0.00 7,831,516.31 1,000,000.00 1,116,205.69 0.00 0.00 0.00 9,947,722.00Balance c/f 0.00 7,831,516.31 1,000,000.00 1,116,205.69 0.00 0.00 0.00 9,947,722.00

SAFEX

April 30, 2015

CASH STATEMENT

Daily Movements Balances

Page 11


DateNedbank Custody Sanlam

African Bank

Investec Bank

Standard Bank / SAFEX Inter SAFEX

Running Balance

Nedbank Cust Rate

Sanlam Call Rate

African Bank Call Rate

Standard Bank/SAFEX

Inter RateSAFEX Call

RateNedbank Interest

Sanlam Interest

African Bank Interest

Standard Bank/SAFEX Inter Interest

SAFEX Interest

Running Balance

Balance b/f 0.00 0.00 0.00 0.00 0.00 0.0001-Apr-15 10,813.64 10,813.64 5.00% 5.60% 7.00% 0.00% 0.00% 92.49 153.42 214.07 0.00 0.00 459.9802-Apr-15 10,813.64 5.00% 5.60% 7.00% 0.00% 0.00% 71.76 153.42 214.07 0.00 0.00 899.2303-Apr-15 10,813.64 5.00% 5.60% 7.00% 0.00% 0.00% 71.76 153.42 214.07 0.00 0.00 1,338.4804-Apr-15 10,813.64 5.00% 5.60% 7.00% 0.00% 0.00% 71.76 153.42 214.07 0.00 0.00 1,777.7305-Apr-15 10,813.64 5.00% 5.60% 7.00% 0.00% 0.00% 71.76 153.42 214.07 0.00 0.00 2,216.9806-Apr-15 10,813.64 5.00% 5.60% 7.00% 0.00% 0.00% 71.76 153.42 214.07 0.00 0.00 2,656.2307-Apr-15 10,813.64 5.00% 5.60% 7.00% 0.00% 0.00% 14.33 153.42 214.07 0.00 0.00 3,038.0508-Apr-15 10,813.64 5.00% 5.60% 7.00% 0.00% 0.00% 155.13 153.42 214.07 0.00 0.00 3,560.6809-Apr-15 10,813.64 5.00% 5.60% 7.00% 0.00% 0.00% 278.42 153.42 214.07 0.00 0.00 4,206.5910-Apr-15 10,813.64 5.00% 5.60% 7.00% 0.00% 0.00% 95.26 153.42 214.07 0.00 0.00 4,669.3411-Apr-15 10,813.64 5.00% 5.60% 7.00% 0.00% 0.00% 95.26 153.42 214.07 0.00 0.00 5,132.0912-Apr-15 10,813.64 5.00% 5.60% 7.00% 0.00% 0.00% 95.26 153.42 214.07 0.00 0.00 5,594.8413-Apr-15 10,813.64 5.00% 5.60% 7.00% 0.00% 0.00% 111.21 153.42 214.07 0.00 0.00 6,073.5414-Apr-15 10,813.64 5.00% 5.60% 7.00% 0.00% 0.00% 111.21 153.42 214.07 0.00 0.00 6,552.2415-Apr-15 10,813.64 5.00% 5.60% 7.00% 0.00% 0.00% 148.66 153.42 214.07 0.00 0.00 7,068.3916-Apr-15 10,813.64 5.00% 5.60% 7.00% 0.00% 0.00% 148.66 153.42 214.07 0.00 0.00 7,584.5417-Apr-15 10,813.64 5.00% 5.60% 7.00% 0.00% 0.00% 148.66 153.42 214.07 0.00 0.00 8,100.6818-Apr-15 10,813.64 5.00% 5.60% 7.00% 0.00% 0.00% 148.66 153.42 214.07 0.00 0.00 8,616.8319-Apr-15 10,813.64 5.00% 5.60% 7.00% 0.00% 0.00% 148.66 153.42 214.07 0.00 0.00 9,132.9820-Apr-15 10,813.64 5.00% 5.60% 7.00% 0.00% 0.00% 1,336.22 153.42 214.07 0.00 0.00 10,836.6921-Apr-15 10,813.64 5.00% 5.60% 7.00% 0.00% 0.00% 1,336.22 153.42 214.07 0.00 0.00 12,540.4122-Apr-15 10,813.64 5.00% 5.60% 7.00% 0.00% 0.00% 1,336.22 153.42 214.07 0.00 0.00 14,244.1323-Apr-15 10,813.64 5.00% 5.60% 7.00% 0.00% 0.00% 1,336.22 153.42 214.07 0.00 0.00 15,947.8424-Apr-15 10,813.64 5.00% 5.60% 7.00% 0.00% 0.00% 1,336.21 153.42 214.07 0.00 0.00 17,651.5525-Apr-15 10,813.64 5.00% 5.60% 7.00% 0.00% 0.00% 1,336.21 153.42 214.07 0.00 0.00 19,355.2626-Apr-15 10,813.64 5.00% 5.60% 7.00% 0.00% 0.00% 1,336.47 153.42 214.07 0.00 0.00 21,059.2227-Apr-15 10,813.64 5.00% 5.60% 7.00% 0.00% 0.00% 1,336.47 153.42 214.07 0.00 0.00 22,763.1828-Apr-15 10,813.64 5.00% 5.60% 7.00% 0.00% 0.00% 1,064.42 153.42 214.07 0.00 0.00 24,195.0929-Apr-15 10,813.64 5.00% 5.60% 7.00% 0.00% 0.00% 1,064.42 153.42 214.07 0.00 0.00 25,627.0130-Apr-15 10,813.64 5.00% 5.60% 7.00% 0.00% 0.00% 1,072.81 153.42 214.07 0.00 0.00 27,067.31Balance c/f 16,042.56 4,602.74 6,422.01 0.00 0.00

April 30, 2015

INTEREST STATEMENT

Interest Received Call Rates Accrued Interest

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LDTPayment

Date Coupon RateNo. of Shares Debit Credit

Coupons Accrued 0.00 1,166,917.500 - 3 YearsABS5 21-Apr-15 01-May-15 8.30% 2,000,000 83,000.00TN17 04-May-15 14-May-15 9.25% 5,000,000 231,250.00

3 - 7 Years

7 - 12 YearsEMM03 24-Apr-15 04-May-15 10.05% 3,000,000 150,750.00

12+ YearsEL28 21-Apr-15 02-May-15 2.55% 13,170,000 167,917.50TN27 04-May-15 14-May-15 8.90% 12,000,000 534,000.00

Coupons Received 0.00 61,250.000 - 3 Years

3 - 7 Years

7 - 12 YearsNRA022 20-Apr-15 30-Apr-15 12.25% 1,000,000 61,250.00

12+ Years

Total 0.00 1,228,167.50

April 30, 2015

COUPONS STATEMENT

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LDTPayment

DateDividend Per

ShareNo. of Shares Debit Credit

Dividends Accrued 372,635.66 406,212.74ResourcesAGL 13-Mar-15 28-Apr-15 6.27 31,810 199,327.50MND 17-Apr-15 21-May-15 3.79 25,279 95,906.00

Industrials

FinancialsNED 26-Mar-15 07-Apr-15 5.68 30,512 173,308.16OML 17-Apr-15 29-May-15 1.10 282,738 310,306.74

Dividends Received 0.00 1,328,236.00ResourcesAGL 13-Mar-15 28-Apr-15 6.27 31,810 199,327.50SOL 01-Apr-15 13-Apr-15 7.00 16,630 116,410.00

IndustrialsBVT 10-Apr-15 20-Apr-15 4.26 21,398 91,155.48WBO 10-Apr-15 20-Apr-15 1.10 19,400 21,340.00

FinancialsNED 26-Mar-15 07-Apr-15 5.68 30,512 173,308.16BGA 10-Apr-15 20-Apr-15 5.25 32,287 169,506.75SLM 10-Apr-15 20-Apr-15 2.25 133,812 301,077.00SBK 17-Apr-15 28-Apr-15 3.39 75,549 256,111.11

Total 372,635.66 1,734,448.74

DIVIDENDS STATEMENT

April 30, 2015

Page 14


Transaction Debit Credit Balance

Bond Settlements 0.00 0.00 0.00

Coupons Due 0.00 1,166,917.50 1,166,917.50.

Equity Settlements 0.00 0.00 0.00

Dividends Due 0.00 406,212.74 406,212.74

Fees 157,315.12 0.00 -157,315.12

SAFEX Options 0.00 0.00 0.00

SAFEX Mark-to-Market 0.00 0.00 0.00

Total Outstanding Settlements 157,315.12 1,573,130.24 1,415,815.12

OUTSTANDING SETTLEMENTS

April 30, 2015

Page 15

AMPLATS GROUP PROVIDENT FUNDApril 30, 2015

Market Value as at end Previous Month

Exposure Value as at end Previous

Month

Purchases Consideration Sales Proceeds Investment

Income

Exposure Value as at end of Current

Month

Market Value as at end of Current

Month

Statement M Return

Total Equity 293,693,814.43 55.32% 0.00 0.00 1,361,813.08 55.59% 306,736,207.95 4.92%Resources 32,853,554.37 6.19% 0.00 0.00 212,316.00 6.51% 35,917,716.06 10.01%Industrials 151,987,602.77 28.63% 0.00 0.00 112,495.48 28.42% 156,844,102.51 3.27%Financials 99,123,537.00 18.67% 0.00 0.00 1,037,001.60 18.88% 104,203,287.27 6.20%Equity Derivatives 9,729,120.29 1.83% 1.77% 9,771,102.11 0.43%

Total Fixed Interest 237,166,613.68 44.68% 11,954,023.25 3,962,324.60 1,297,918.94 44.41% 245,089,350.10 0.51%Cash 11,543,862.33 2.17% 11,954,023.25 3,962,324.60 69,751.44 3.54% 19,530,630.96 0.42%Bonds 225,622,751.35 42.50% 0.00 0.00 1,228,167.50 40.88% 225,558,719.14 0.52%Bond Cash 0.00 0.00% 0.00 0.00 0.00 0.00% 0.00 N/A0 - 3 Years 30,751,101.70 5.79% 0.00 0.00 314,250.00 5.60% 30,884,246.22 1.46%3 - 7 Years 54,068,500.03 10.19% 0.00 0.00 0.00 9.86% 54,433,961.48 0.68%7 - 12 Years 59,938,219.78 11.29% 0.00 0.00 212,000.00 10.91% 60,180,914.19 0.76%12+ Years 80,864,929.84 15.23% 0.00 0.00 701,917.50 14.51% 80,059,597.25 -0.13%Fixed Interest Derivatives 0.00 0.00% 0.00% 0.00 N/A

Total Assets 530,860,428.11 100.00% 11,954,023.25 3,962,324.60 2,659,732.02 100.00% 551,825,558.05 2.93%

Contributions & Withdrawals

STATEMENT M

Page 16


Portfolio Value 551,982,873.17

Monthly Fee @ 0.30% per annum 137,995.72

137,995.72

VAT @ 14% 19,319.40

Total Monthly Fee 157,315.12

Last Month's Fee 151,338.35

FEES

April 30, 2015

Page 17


Fund DescriptionThis is a conservative Absolute Return Product that invests in all three major asset classes; equities, bonds, and cash.

Fund ObjectivesTo outperform CPIX (inflation) plus 5%*. The equity benchmark is the Shareholder Weighted Equity Index (SWIX), the bond benchmark is the All Bond Index (ALBI),and the cash benchmark is the STeFi Money Market Index.*Please note CPIX changed to CPI effective January 2009

Investment Performance

Fund BenchM Alpha Equities SWIX Bonds ALBI Cash STeFiCumulative Performance1 month 2.93% 1.84% 1.09% 4.92% 4.85% 0.52% -0.49% 0.42% 0.51%3 months 3.73% 3.13% 0.59% 7.49% 7.99% -0.84% -3.76% 1.41% 1.57%6 months 7.88% 4.40% 3.48% 12.30% 11.61% 2.76% 3.32% 2.78% 3.13%YTD 7.10% 3.37% 3.73% 11.52% 11.99% 2.00% 2.49% 1.97% 2.08%1 year 15.87% 9.23% 6.63% 21.98% 20.33% 9.11% 11.53% 5.52% 6.22%3 years 16.77% 10.57% 6.20% 31.79% 22.41% 8.53% 8.14% 5.40% 5.62%5 years 14.85% 10.45% 4.40% 23.44% 18.86% 10.15% 9.28% 6.20% 5.79%Calendar Year Performance2008 2.62% 15.80% -13.19% -9.11% -21.99% 14.11% 16.97% 11.27% 11.70%2009 14.29% 11.71% 2.58% 30.62% 28.92% 4.29% -0.99% 11.91% 9.13%2010 13.79% 8.74% 5.04% 16.15% 18.68% 12.83% 14.96% 7.90% 6.93%2011 8.13% 11.40% -3.27% 1.87% 4.05% 13.20% 8.82% 7.73% 5.71%2012 24.31% 10.85% 13.46% 58.85% 28.66% 14.03% 15.99% 6.20% 5.54%2013 12.24% 10.55% 1.69% 21.87% 22.05% 3.52% 0.64% 5.18% 5.18%2014 20.79% 14.81% 5.98% 28.96% 27.93% 12.19% 12.89% 7.05% 8.11%Inception: 24-Jan-2007

Fund Analysis

Equity Bonds Cash55.6% 40.88% 3.5%

Sector Analysis

Resources IndustrialFinancials 0 - 3 Y 3 - 7 Y 7 - 12 Y 12+ Y Bond Cash 0 - 3 M 3 - 6 M 6 - 9 M 9 - 12 M12.1% 52.8% 35.1% 13.69% 24.13% 26.68% 35.49% 0.00% 68.69% 15.66% 10.44% 5.21%

Investment Risk Measures Weight Comparisons

Fund BenchM SWIX ALBIReturn (ann.) 12.88% 11.11% 13.28% 9.22% FundSharpe Ratio (ann.) 0.83 2.42 0.39 0.28 Money Market Duration 75.32Sortino Ratio (ann.) 1.32 N/A 0.58 0.55 Bond Duration 6.98Max Drawdown -5.58% -0.46% -12.58% -4.64% Resources 11.71%Drawdowns 24 1 30 29 Industrials 51.13%

Financials 33.97%Tracking Error Price Earnings Ratio 28.63Equities 3.49% Dividend Yield 2.60%Bonds 4.53%

Fund CommentFor the Absolute All Class Product the equity and bond asset classes are managed via the core satellite approach. The core tracks the benchmark and thesatellite portfolios are designed to enhance the returns of these asset classes over and above their respective benchmarks.

FeesThe fees for this fund are 35 basis points.

5.8416.10%

FACT SHEET

April 30, 2015

Benchmark180.00

19.622.74%

53.45%26.25%

143.20%

120.50%105%

110%

115%

120%

125%

130%

135%

140%

145%

FUND BENCHMARK

EquitiesResources

12.09%Industrials

52.82%

Financials35.09%

Bonds

0 - 3 Y13.69%

3 - 7 Y24.13%

7 - 12 Y26.68%

12+ Y35.49%

Bond Cash0.00%

Cash0 - 3 M68.69%

3 - 6 M15.66%

6 - 9 M10.44%

9 - 12 M5.21%

14.56%12.81%9.66%

8.90%

7.50%6.86%

12.88%11.11%

0%

5%

10%

15%

Equities Bonds Cash Fund

Annualised Returns

JM BUSHA BENCHMARK

67.38%28.81%

3.28%

0%10%20%30%40%50%60%70%

Hedged Equities Hedged Bonds Cash

Contribution Analysis

2008

12.88%11.11%

-1%

1%

3%

5%

7%

9%

11%

13%

15%

Fund BenchM

ASSET ALLOCATION

Bonds41%

Cash4%

Equity55%

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Tel: +0027 11 325 2027Fax: +0027 11 325 2047Email: [email protected] Address: www.jmbusha.com

April 30, 2015

CONTACT DETAILS

Page 19

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