The Satrix Fini endeavours to replicate the performance of the FTSE/JSE Financial 15 index. This index comprises the 15 largest financial shares listed on the JSE.

The asset manager of the Satrix Fini accurately replicates the FTSE/JSE Fini 15 index, by holding the exact weighting and number of shares that constitute this index. Dividends paid by the underlying companies, less expenses incurred by managing the trust, are paid out to Satrix Fini shareholders on a quarterly basis. In this way the holders of Satrix Fini securities replicate the total performance (capital plus dividend yield) of the top 15 financial companies listed on the JSE.

Own the financial sector of the JSE through Satrix Fini!!


The FTSE/JSE Financial 15 index comprises South Africa´s 5 largest banks, other general financial companies, property companies, plus the main long-term and short-term insurance companies. It provides a diversified spread of the major financial companies listed on the JSE. The rapid assimilation of greater numbers of South Africans into the formal banking and financial system, the funding demands of a growing economy and the challenges of meeting demand for retirement products have made this a high performing sector of the JSE.

Portfolio Diversification
The FTSE/JSE Financial 15 index only constitutes financial companies and therefore provides a dedicated and focused point of entry to this sector of the JSE. The Satrix Fini offers a low cost means of obtaining the total performance of the main financial shares listed on the JSE and facilitates sector rotation and interest sensitive strategies.

COMPONENTS OF THE SATRIX FINI PORTFOLIO (as at 30 November 2009)
	% of Portfolio
Banks	51,54
Life Assurance	23,10
Investment Instruments	3,54
Real Estate	11,40
General Financial Services	10,16
Cash	0,26

Performance
The Satrix Fini performance figures over the past three years.

PERFORMANCE DATA
(Sept to Sept)** (per annum)	STXFINI Fund**	FINI15 Index Performance (total return)
1 year return	6,77%	5,88%
3 year return	0,06%	0,76%
5 year return	13,71%	14,06%
**	Fund established February 2002. Returns calculated for lump sum investments. All dividends reinvested.

Low Cost
Satrix Fini does not charge substantial management fees or other advisory and ongoing costs, common to other managed investments. The income Satrix earns from scrip lending activities cover a portion of the running costs of the Satrix Trusts.

The only costs involved with the purchase or sale of Satrix securities are the brokerage and other JSE transaction costs incurred as with any listed security. A big advantage is that by purchasing Satrix Fini you only pay brokerage and other transaction costs once, and not fifteen times, which would be the case if you were to purchase the index constituent shares separately. Satrix securities can also be held and transacted through various management account portfolios, such as the Satrix Investment Plan.

In the case of the Satrix Investment Plan, which is administered by Automated Outsourcing Services Limited (AOSL), transaction costs (brokerage) of 0,1% is levied on purchases and sales of Satrix securities. Annual management fees, charged by AOS, are as follows:

Investment Plan Administration Fees (for both lump sum and debit order investments)

Annual administration fee: (calculated daily and deducted quarterly)

Total Investment Per Fund	Fee
R0 to R100 000	0,80%
R100 000 to R250 000	0,75%
R250 000 to R1 000 000	0,70%
R1 000 000 to R3 000 000	0,50%
R3 000 000 or more	0,45%

Transaction Fees
Debit order fee: R3.50
Stock brokerage fees: 0.10% (buying and selling)
Nominal Strate and Investor Protection levies will also be charged.
Where a financial adviser is used, commissions will be charged (as scheduled in Section 8).
All fees quoted are exclusive of VAT. VAT will be levied where applicable

Satrix Fini is traded all day on the JSE and its price is subject to trading in the marketplace. The price of Satrix securities can be obtained from any media publication that reports JSE prices.

All settlement, registration, recording and guarantee of trade is done through the normal JSE market systems. Official market makers have been appointed by Satrix to ensure that investor´s transactions will be accommodated in the market.

Regulation and Disclosure
Satrix Fini is subject to the same regulations, reporting and compliance requirements of any listed company on the JSE. Satrix Fini is also registered as a Collective Investment Scheme and is therefore subject to the regulation of the Financial Services Board. Satrix Managers (Pty) Ltd is registered as a Financial Services Provider.