Consistent Long-Term Performance

SA’S #1 FUND OVER TWO DECADES

Centaur BCI Flexible Fund ranked Morningstar’s #1 fund over 20 years ending 31 Dec’24.

Since our inception Centaur’s equity centric investment strategy has delivered 18.1% net of fees. (at 31/03/2025).

Growth of R100 investment (Cumulative)

Centaur Asset Management Performance Net of Fees at 28 February 2025

At: 31 March 2025	Compound Annual Return	Annual Std. Deviation
Centaur Asset Management	18.1%	12.3%
Benchmark^*	11.6%	13.0%

Source: Centaur, Bloomberg, Apex at 31 March 2025.
Centaur combined performance strategy net of fees utilised in Centaur’s products since inception: 1 October 2000 to 31 December 2004: SA equity managed portfolio composite. 31 December 2004 to current: Centaur BCI Flexible Fund A.
*Benchmark as of 1 Jan 2025: 50% FTSE/JSE Capped Shareholder Weighted All Share Index (J433T), 30% Morningstar Developed Markets Target Market Exposure Index (MSDMTMUN), 20% SteFI.