Fund: Merchant West SCI Flexible Income Fund

Income bar frequency: 1 quarter Chart reflects TRI
Merchant West SCI Flexible Income Fund A1       South African--Equity--UnclassifiedJSE Top 40 Index TRIJSE All Share Index TRIBEASSA All Bond index (SA Bond Index)Consumer Price IndexCPI +2%CPI +3%CPI +4%CPI +5%CPI +6%CPI +7%CPI +8%CPI excluding OERCPI excluding OER + 2%CPI excluding OER + 4%CPI excluding OER + 6%CPI excluding OER + 8%DAX-INDEXDJ-INDFederal Funds Effective RateJSE Financial Index TRIJSE Financials and Industrials Index TRIFNB Call RateFTSE100FTSE All Share IndexJSE Top 40 IndexJSE Financial IndexJSE Financials and Industrials IndexJSE Industrial 25 IndexJSE Mid Cap IndexJSE Oil & Gas IndexHeadline Consumer Price IndexJSE Industrial 25 Index TRIJSE All Share IndexLIBOR 1 monthLIBOR 3 monthsLIBOR 6 monthsJSE Mid Cap Index TRIJapan Overnight rate (MUTAN)REPO RateJSE Resource 10 IndexJSE Resource 10 Index TRIJSE Oil & Gas Index TRISA Prime RateJSE SA Listed Property IndexJSE SA Listed Property Index TRISATRIX40SONIAS&P500Short term Fixed Interest IndexTokyo Stock Price IndexZAR/EURZAR/GBPZAR/USD    Initial Investment:  Period:   Invested From: Invested To: Performance:     R custom last year last 2 years last 3 years last 5 years last 7 years last 10 years     TRI NAV

TRI Performance (%)
Fund Name 1 Year 3 Years 5 Years 7 Years 10 Years p.a.* cumulative* Merchant West SCI Flexible Income Fund A1 19.46 15.46 11.86 12.00 9.91 11.86 75.19 South African--Equity--Unclassified 25.59 18.17 13.52 13.52 11.23 13.52 88.53
*Custom Period *Note: All returns are annualised, except the 'cumulative' column which shows unannualised performance for the custom period.

Income Produced (Rand)
Fund Name 1 Year 3 Years 5 Years 7 Years 10 Years Custom Merchant West SCI Flexible Income Fund A1 11 778.91 30 208.89 43 500.65 64 414.24 82 294.59 43 500.65