| | | |
| Security | Change | # Units | Value (Rm) | % Fund | # Units | Value (Rm) | % Fund |
| SA Bond ABJ08 | 0 | 7,500,000 | 7.60 | 1.40 | 7,500,000 | 7.57 | 1.38 |
| SA Bond ABJ10 | 540,000 | 540,000 | 0.55 | 0.10 | 0 | 0.00 | 0.00 |
| SA Bond ASC244 | 0 | 9,859,918 | 9.94 | 1.83 | 9,859,918 | 9.95 | 1.81 |
| SA Bond BAYA99 | 0 | 1,250,000 | 1.25 | 0.23 | 1,250,000 | 1.25 | 0.23 |
| SA Bond BNDS | 0 | 0 | 69.03 | 12.68 | 0 | 59.91 | 10.88 |
| SA Bond BYA103 | 0 | 1,250,000 | 1.25 | 0.23 | 1,250,000 | 1.25 | 0.23 |
| SA Bond CLN873 | -11,300,000 | 0 | 0.00 | 0.00 | 11,300,000 | 11.40 | 2.07 |
| SA Bond CLN895 | -10,600,000 | 0 | 0.00 | 0.00 | 10,600,000 | 10.70 | 1.94 |
| SA Bond CLN922 | 0 | 7,500,000 | 7.56 | 1.39 | 7,500,000 | 7.57 | 1.37 |
| SA Bond CLN982 | 0 | 6,100,000 | 6.12 | 1.12 | 6,100,000 | 6.12 | 1.11 |
| SA Bond FRC561 | 0 | 16,000,000 | 16.28 | 2.99 | 16,000,000 | 16.29 | 2.96 |
| SA Bond FRC589 | 0 | 14,000,000 | 14.22 | 2.61 | 14,000,000 | 14.03 | 2.55 |
| SA Bond I2031 | 0 | 44,500,000 | 49.74 | 9.14 | 44,500,000 | 47.97 | 8.71 |
| SA Bond I2033 | 0 | 41,641,000 | 55.89 | 10.26 | 41,641,000 | 53.63 | 9.74 |
| SA Bond NHM026 | 0 | 13,000,000 | 13.72 | 2.52 | 13,000,000 | 13.15 | 2.39 |
| SA Bond R2032 | 0 | 21,310,000 | 21.18 | 3.89 | 21,310,000 | 20.93 | 3.80 |
| SA Bond R2037 | 0 | 26,450,000 | 24.90 | 4.57 | 26,450,000 | 23.25 | 4.22 |
| SA Bond R2040 | 6,500,000 | 19,440,000 | 18.24 | 3.35 | 12,940,000 | 11.31 | 2.05 |
| SA Bond R210 | 5,600,000 | 5,600,000 | 14.13 | 2.59 | 0 | 0.00 | 0.00 |
| SA Bond SBC029 | 0 | 10,400,000 | 10.40 | 1.91 | 10,400,000 | 10.40 | 1.89 |
| SA Bond SBC033 | 0 | 10,700,000 | 10.70 | 1.97 | 10,700,000 | 10.70 | 1.94 |
| SA Bond SBC089 | 0 | 19,100,000 | 19.43 | 3.57 | 19,100,000 | 19.45 | 3.53 |
| SA Bond SBC119 | 0 | 5,000,000 | 5.01 | 0.92 | 5,000,000 | 5.02 | 0.91 |
| Bond Total | -9,260,000 | 281,140,918 | 377.13 | 69.27 | 290,400,918 | 361.83 | 65.72 |
| iShares J.P. Morgan EM Local Government Bond UCITS ETF | 58,715 | 58,715 | 6.70 | 1.23 | 0 | 0.00 | 0.00 |
| Bonds Total | 58,715 | 58,715 | 6.70 | 1.23 | 0 | 0.00 | 0.00 |
| Cash on call | 0 | 0 | -134.79 | -24.76 | 0 | -107.51 | -19.53 |
| Margin Account | 0 | 0 | 3.19 | 0.59 | 0 | 3.37 | 0.61 |
| Cash on call Total | 0 | 0 | -131.60 | -24.17 | 0 | -104.15 | -18.92 |
| Bond Derivative | 0 | 0 | 6.68 | 1.23 | 0 | 6.01 | 1.09 |
| Derivatives Total | 0 | 0 | 6.68 | 1.23 | 0 | 6.01 | 1.09 |
| 1nvestGold ETF | 0 | 13,596 | 8.74 | 1.61 | 13,596 | 7.68 | 1.40 |
| Exchange Traded Funds Total | 0 | 13,596 | 8.74 | 1.61 | 13,596 | 7.68 | 1.40 |
| USA - Currency | 0 | 0 | 4.04 | 0.74 | 0 | 0.04 | 0.01 |
| For Currency Total | 0 | 0 | 4.04 | 0.74 | 0 | 0.04 | 0.01 |
| Foreign - Bonds | 0 | 0 | 37.34 | 6.86 | 0 | 19.71 | 3.58 |
| Foreign - Equities | 0 | 0 | 4.04 | 0.74 | 0 | 0.00 | 0.00 |
| Foreign Invest Total | 0 | 0 | 41.39 | 7.60 | 0 | 19.71 | 3.58 |
| Ashburton Core Plus Income Fund - Z | -10,202,842 | 76,275,854 | 76.94 | 14.13 | 86,478,696 | 87.18 | 15.83 |
| Ashburton Stable Income - B | -7,574,824 | 74,227,427 | 72.02 | 13.23 | 81,802,251 | 79.31 | 14.40 |
| Income Total | -17,777,666 | 150,503,281 | 148.96 | 27.36 | 168,280,947 | 166.49 | 30.24 |
| Money Market - 13 months duration | 0 | 0 | 0.51 | 0.09 | 0 | 0.00 | 0.00 |
| Money Market - 16 months duration | 0 | 0 | 0.00 | 0.00 | 0 | 0.51 | 0.09 |
| Money Market - 25 months duration | 0 | 0 | 10.11 | 1.86 | 0 | 0.00 | 0.00 |
| Money Market - 28 months duration | 0 | 0 | 0.00 | 0.00 | 0 | 10.12 | 1.84 |
| Money Market - 29 months duration | 0 | 0 | 5.50 | 1.01 | 0 | 0.00 | 0.00 |
| Money Market - 6 months duration | 0 | 0 | 7.03 | 1.29 | 0 | 0.00 | 0.00 |
| Money Market - 9 months duration | 0 | 0 | 0.00 | 0.00 | 0 | 7.04 | 1.28 |
| Money Market Instrument | 0 | 0 | 1.62 | 0.30 | 0 | 7.26 | 1.32 |
| Ashburton Money Market - Z | 24,221,655 | 29,221,655 | 29.31 | 5.38 | 5,000,000 | 5.04 | 0.92 |
| Money Market Total | 24,221,655 | 29,221,655 | 54.10 | 9.94 | 5,000,000 | 29.97 | 5.44 |
| iShares Edge MSCI EM Min Vol UCITS ETF | 0 | 23,234 | 15.16 | 2.78 | 23,234 | 15.38 | 2.79 |
| iShares Edge MSCI World Min Vol UCITS ETF | -997 | 1,104 | 1.40 | 0.26 | 2,101 | 2.72 | 0.49 |
| iShares Global High Yield Corp Bond UCITS ETF | -89,149 | 0 | 0.00 | 0.00 | 89,149 | 11.30 | 2.05 |
| iShares J.P. Morgan $ EM Corp Bond UCITS ETF | -179,586 | 0 | 0.00 | 0.00 | 179,586 | 20.50 | 3.72 |
| Offshore Intern Total | -269,732 | 24,338 | 16.56 | 3.04 | 294,070 | 49.90 | 9.06 |
| Discovery Ltd. | 0 | 23,853 | 2.67 | 0.49 | 23,853 | 2.79 | 0.51 |
| Preference Shares Total | 0 | 23,853 | 2.67 | 0.49 | 23,853 | 2.79 | 0.51 |
| Ashburton Property - Z | -2,662,893 | 14,572,657 | 9.08 | 1.67 | 17,235,550 | 10.29 | 1.87 |
| Property Unit Trusts Total | -2,662,893 | 14,572,657 | 9.08 | 1.67 | 17,235,550 | 10.29 | 1.87 |
| Portfolio Total | -5,689,921 | 475,559,013 | 544.45 | 100.00 | 481,248,934 | 550.57 | 100.00 |