<!DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Strict//EN"
    "http://www.w3.org/TR/xhtml1/DTD/xhtml1-strict.dtd">
<html xmlns:v="urn:schemas-microsoft-com:vml" xmlns:o="urn:schemas-microsoft-com:office:office" style="background: #ebebeb;">
<head>
<meta http-equiv="Content-Type" content="text/html; charset=utf-8">
<meta name="viewport" content="width=device-width,initial-scale=1">
<meta name="format-detection" content="telephone=no">
<meta name="x-apple-disable-message-reformatting">
<meta name="color-scheme" content="light">
<meta name="supported-color-schemes" content="light">
<meta name="ev-inliner" content="juice">
<meta name="template_framework" content="foundation">
<style type="text/css">
@media only screen and (max-width: 596px) {table.container table.row {display: table !important;}.main_panel {border-left: 16px solid#ebebeb !important;border-right: 16px solid#ebebeb !important;}td.small-12>table.ev-mobile-table-width,td.small-12>table.ev-mobile-table-width,th.small-12>table.ev-mobile-table-width,th.small-12>table.ev-mobile-table-width {width: auto !important;margin-bottom: 8px !important;}.logo-mobile-padding {padding-bottom: 2.5% !important;}.align-padding {padding-right: 0px !important;padding-left: 0px !important;}.small-float-left {float: left !important;text-align: left !important;}.mobile-remove-top-padding {padding-top: 0px !important;}.mobile-remove-bottom-padding {padding-bottom: 0px !important;}.mobile-bottom-padding {padding-bottom: 16px !important;}.info-section {padding-right: 32px !important;padding-left: 32px !important;}.mobile-padding {padding: 0px 16px 16px 16px !important;}.mobile-padding-2 {padding: 16px 16px 0px 16px !important;}.mobile-padding-3 {padding-top: 16px !important;padding-bottom: 0px !important;}.ag-logo-pad {padding-top: 32px !important;padding-bottom: 2.5% !important;}.pad-right {padding-right: 0px !important;}.red-border {border-top: 4px solid #ed0025 !important;}.img-padding {padding-bottom: 0px !important;padding-left: 0px !important;padding-right: 0px !important;}.side-align-padding {padding-right: 0px !important;padding-left: 0px !important;}}@media only screen and (max-width: 596px) {table.body img {width: auto !important;height: auto;}table.body center {min-width: 0 !important;}table.body .container {width: 100% !important;}table.body .columns,table.body .column {height: auto !important;-moz-box-sizing: border-box;-webkit-box-sizing: border-box;box-sizing: border-box;padding-left: 16px !important;padding-right: 16px !important;}table.body .columns .column,table.body .columns .columns,table.body .column .column,table.body .column .columns {padding-left: 0 !important;padding-right: 0 !important;}table.body .collapse .columns,table.body .collapse .column {padding-left: 0;padding-right: 0;}td.small-1,th.small-1 {display: inline-block !important;width: 8.33333% !important;}td.small-2,th.small-2 {display: inline-block !important;width: 16.66667% !important;}td.small-3,th.small-3 {display: inline-block !important;width: 25% !important;}td.small-4,th.small-4 {display: inline-block !important;width: 33.33333% !important;}td.small-5,th.small-5 {display: inline-block !important;width: 41.66667% !important;}td.small-6,th.small-6 {display: inline-block !important;width: 50% !important;}td.small-7,th.small-7 {display: inline-block !important;width: 58.33333% !important;}td.small-8,th.small-8 {display: inline-block !important;width: 66.66667% !important;}td.small-9,th.small-9 {display: inline-block !important;width: 75% !important;}td.small-10,th.small-10 {display: inline-block !important;width: 83.33333% !important;}td.small-11,th.small-11 {display: inline-block !important;width: 91.66667% !important;}td.small-12,th.small-12 {display: inline-block !important;width: 100% !important;}.columns td.small-12,.column td.small-12,.columns th.small-12,.column th.small-12 {display: block !important;width: 100% !important;}td.small-12,th.small-12 {min-width: 100% !important;max-width: 100% !important;}td.small-12,td.small-12>table,td.small-12,td.small-12>table,th.small-12,th.small-12>table,th.small-12,th.small-12>table {width: 100% !important;}table.body td.small-offset-1,table.body th.small-offset-1 {margin-left: 8.33333% !important;Margin-left: 8.33333% !important;}table.body td.small-offset-2,table.body th.small-offset-2 {margin-left: 16.66667% !important;Margin-left: 16.66667% !important;}table.body td.small-offset-3,table.body th.small-offset-3 {margin-left: 25% !important;Margin-left: 25% !important;}table.body td.small-offset-4,table.body th.small-offset-4 {margin-left: 33.33333% !important;Margin-left: 33.33333% !important;}table.body td.small-offset-5,table.body th.small-offset-5 {margin-left: 41.66667% !important;Margin-left: 41.66667% !important;}table.body td.small-offset-6,table.body th.small-offset-6 {margin-left: 50% !important;Margin-left: 50% !important;}table.body td.small-offset-7,table.body th.small-offset-7 {margin-left: 58.33333% !important;Margin-left: 58.33333% !important;}table.body td.small-offset-8,table.body th.small-offset-8 {margin-left: 66.66667% !important;Margin-left: 66.66667% !important;}table.body td.small-offset-9,table.body th.small-offset-9 {margin-left: 75% !important;Margin-left: 75% !important;}table.body td.small-offset-10,table.body th.small-offset-10 {margin-left: 83.33333% !important;Margin-left: 83.33333% !important;}table.body td.small-offset-11,table.body th.small-offset-11 {margin-left: 91.66667% !important;Margin-left: 91.66667% !important;}table.body table.columns td.expander,table.body table.columns th.expander {display: none !important;}table.body .right-text-pad,table.body .text-pad-right {padding-left: 10px !important;}table.body .left-text-pad,table.body .text-pad-left {padding-right: 10px !important;}table.menu {width: 100% !important;}table.menu td,table.menu th {width: auto !important;display: inline-block !important;}table.menu.vertical td,table.menu.vertical th,table.menu.small-vertical td,table.menu.small-vertical th {display: block !important;}table.menu[align='center'] {width: auto !important;}table.button.small-expand,table.button.small-expanded {width: 100% !important;}table.button.small-expand table,table.button.small-expanded table {width: 100%;}table.button.small-expand table a,table.button.small-expanded table a {text-align: center !important;width: 100% !important;padding-left: 0 !important;padding-right: 0 !important;}table.button.small-expand center,table.button.small-expanded center {min-width: 0;}}@media only screen and (max-width: 596px) {.small-float-center {margin: 0 auto !important;float: none !important;text-align: center !important;}.small-text-center div h1,.small-text-center div h2,.small-text-center div h3,.small-text-center div h4,.small-text-center div h5,.small-text-center div h6,.small-text-center div p,.small-text-center div div,.small-text-center div span {text-align: center !important;}.small-text-left div h1,.small-text-left div h2,.small-text-left div h3,.small-text-left div h4,.small-text-left div h5,.small-text-left div h6,.small-text-left div p,.small-text-left div div,.small-text-left div span {text-align: left !important;}.small-text-right div h1,.small-text-right div h2,.small-text-right div h3,.small-text-right div h4,.small-text-right div h5,.small-text-right div h6,.small-text-right div p,.small-text-right div div,.small-text-right div span {text-align: right !important;}.small-text-center h1,.small-text-center h2,.small-text-center h3,.small-text-center h4,.small-text-center h5,.small-text-center h6,.small-text-center p,.small-text-center div,.small-text-center span {text-align: center !important;}.small-text-left h1,.small-text-left h2,.small-text-left h3,.small-text-left h4,.small-text-left h5,.small-text-left h6,.small-text-left p,.small-text-left div,.small-text-left span {text-align: left !important;}.small-text-right h1,.small-text-right h2,.small-text-right h3,.small-text-right h4,.small-text-right h5,.small-text-right h6,.small-text-right p,.small-text-right div,.small-text-right span {text-align: right !important;}table.body .collapse .columns,table.body .collapse .column {padding-left: 0px !important;padding-right: 0px !important;}}@media only screen and (max-width: 596px) {table.body table.container .show-for-large {display: none !important;width: 0;mso-hide: all;overflow: hidden;}}@media only screen and (max-width: 596px) {table.body table.container .callout-inner.hide-for-large {display: table-cell !important;width: 100% !important;}}@media only screen and (max-width: 596px) {table.body table.container .hide-for-large,table.body table.container .row.hide-for-large {display: table !important;width: 100% !important;}}@media only screen and (max-width: 596px) {.hide-for-large {display: block !important;width: auto !important;overflow: visible !important;max-height: none !important;font-size: inherit !important;line-height: inherit !important;}}@media only screen {html {min-height: 100%;}}
</style>
<!--[if gte mso 9]>     <xml>       <o:OfficeDocumentSettings>         <o:AllowPNG/>         <o:PixelsPerInch>96</o:PixelsPerInch>       </o:OfficeDocumentSettings>     </xml>     <![endif]-->
<style>
         #outlook a{padding:0}a{color:#000;text-decoration:none}a:hover{color:inherit!important}a:active{color:inherit!important}a:visited{color:inherit!important}h1 a,h1 a:visited,h2 a,h2 a:visited,h3 a,h3 a:visited,h4 a,h4 a:visited,h5 a,h5 a:visited,h6 a,h6 a:visited{color:inherit!important}table.button:active table td,table.button:hover table td,table.button:visited table td{background:inherit!important;color:inherit!important}table.button table tr td a:visited,table.button.large table tr td a:visited,table.button.large:active table tr td a,table.button.large:hover table tr td a,table.button.small table tr td a:visited,table.button.small:active table tr td a,table.button.small:hover table tr td a,table.button.tiny table tr td a:visited,table.button.tiny:active table tr td a,table.button.tiny:hover table tr td a,table.button:active table tr td a,table.button:hover table tr td a{color:inherit!important}     
</style>
<title></title>
</head>
<body style="width: 100%; min-width: 100%; -webkit-text-size-adjust: 100%; -ms-text-size-adjust: 100%; margin: 0; Margin: 0; padding: 0; -moz-box-sizing: border-box; -webkit-box-sizing: border-box; box-sizing: border-box; background: #ffffff;">

<span style="display:none; font-size:1px; font-family:Arial; max-height:0px; max-width:0px; opacity:0; overflow:hidden; mso-hide:all;">Practice Note 395: The Orbis SICAV Global Cautious Fund will be added to the Offshore Platform</span>
<table class="body" style=
"border-spacing: 0; border-collapse: collapse; vertical-align: top; height: 100%; width: 100%; background: #ebebeb; color: #58595b; font-family: Arial, sans-serif; font-weight: normal; padding: 0; margin: 0; Margin: 0; text-align: left; line-height: 17px; font-size: 14px;">
<tbody>
<tr>
<td class="center" align="center" valign="top" style="word-wrap: break-word; -webkit-hyphens: auto; -moz-hyphens: auto; hyphens: auto; border-collapse: collapse; padding: 0; vertical-align: top; text-align: left;">
<center>
<table ev-content-builder="" class="container" style="border-spacing: 0; border-collapse: collapse; padding: 0; vertical-align: top; width: 580px; margin: 0 auto; Margin: 0 auto; text-align: inherit; min-height: 0px;">
<tbody>
<tr>
<td class="main_panel" style=
"word-wrap: break-word; -webkit-hyphens: auto; -moz-hyphens: auto; hyphens: auto; border-collapse: collapse; padding: 0; vertical-align: top; text-align: left; border: solid 0px #e4e5e6; background: #ffffff; border-top: 16px solid #ebebeb; border-left: 0px solid #ebebeb; border-right: 0px solid #ebebeb; border-bottom: 16px solid #ebebeb;">
<center class=""><!-- ngRepeat: section in sections -->
<table class="grey-bar-footer-1 row ev-section" style=
"border-spacing: 0; border-collapse: collapse; vertical-align: top; text-align: left; background-color: #ebebeb; padding: 0; position: relative; display: table-row; width: 100%; min-width: 100%; max-width: 100%;">
<tbody>
<tr>
<th class="column small-12 large-12 last first" style=
"padding: 0; vertical-align: top; text-align: left; margin: 0 auto; Margin: 0 auto; padding-bottom: 16px; width: 564px; padding-left: 16px; padding-right: 16px; min-width: 100%; max-width: 100%;">
<table style="border-spacing: 0; border-collapse: collapse; padding: 0; vertical-align: top; text-align: left; width: 100%; min-width: 100%; max-width: 100%;">
<tbody>
<tr>
<th class="ev-block-dropzone text-right small-text-right web-link" style="padding: 0; vertical-align: top; text-align: left; width: 100%; min-width: 100%; max-width: 100%;">
<div class="ev-control: text-editor ev-block" style="text-align: right; margin-bottom: 0px; Margin-bottom: 0px;">
<p style=
"word-wrap: break-word; -webkit-hyphens: none; -moz-hyphens: none; hyphens: none; color: #58595b; font-family: Arial, sans-serif; font-weight: normal; padding: 0; margin: 0; Margin: 0; line-height: 17px; text-align: right; font-size: 12px;"><a href=
"https://allangray.everlytic.net/public/messages/view-online/IhNzpEnPVLkUvDjf/pAJJ2jNGmeupSLyq/2e66df71a1f880d1" style="line-height: inherit; font-size: inherit; text-decoration: none; color: #57AFD2; font-weight: normal;">View in browser</a></p>
</div>
</th>
</tr>
</tbody>
</table>
</th>
</tr>
</tbody>
</table>
<!-- end ngRepeat: section in sections -->
<table class="row ev-section" style="border-spacing: 0; border-collapse: collapse; vertical-align: top; text-align: left; padding: 0; width: 100%; position: relative; display: table-row;">
<tbody>
<tr>
<th class="first last small-12 large-12 columns" style="padding: 0; vertical-align: top; text-align: left; margin: 0 auto; Margin: 0 auto; padding-bottom: 16px; width: 564px; padding-left: 16px; padding-right: 16px;">
<table style="border-spacing: 0; border-collapse: collapse; padding: 0; vertical-align: top; text-align: left; width: 100%;">
<tbody>
<tr>
<th class="ev-block-dropzone" style="padding: 0; vertical-align: top; text-align: left; width: 100%;"></th>
</tr>
</tbody>
</table>
</th>
</tr>
</tbody>
</table>
<!-- end ngRepeat: section in sections -->
<table class="collapse row ev-section" style="border-spacing: 0; border-collapse: collapse; vertical-align: top; text-align: left; padding: 0; width: 100%; position: relative; display: table-row;">
<tbody>
<tr>
<th style="padding: 0; vertical-align: top; text-align: left; margin: 0 auto; Margin: 0 auto; padding-right: 0; padding-left: 0; width: 588px; padding-bottom: 24px;" class="column small-12 large-12 last first">
<table style="border-spacing: 0; border-collapse: collapse; padding: 0; vertical-align: top; text-align: left; width: 100%;">
<tbody>
<tr>
<th style="vertical-align: top; float: right; text-align: right; padding: 0px; line-height: 0px; font-size: 0px; padding-left: 16px;" class="float-right">
<div class="ev-block-dropzone">
<div class="ev-image-wrap ev-control: image ev-block" style="margin-bottom: 0px; Margin-bottom: 0px;"><a href=
"https://allangray.everlytic.net/servlet/link/23384/81348/51303292/378790" title="" style=
"line-height: inherit; font-size: inherit; color: #58595b; text-decoration: none;"><img src="https://cdn18.mailercdn.net/users/assets/427/images/final_file2.png?v=1710670154759" width="564" height="63" class="float-right" alt="" style=
"outline: none; text-decoration: none; -ms-interpolation-mode: bicubic; width: auto; max-width: 100%; clear: both; display: block; border: none; float: right; text-align: right;"></a></div>
</div>
<div class="ev-block-dropzone float-right" style="float: right; text-align: right;">
<div class="ev-image-wrap ev-control: image ev-block" style="margin-bottom: 0px; Margin-bottom: 0px;"><img src="https://dy9rgikdeqxu.cloudfront.net/users/assets/427/images/2021/Practice_Notes/Practice_note_-_header_edited.jpg?v=1610685631047" width=
"564" height="185" class="float-right" alt="" style="outline: none; text-decoration: none; -ms-interpolation-mode: bicubic; width: auto; max-width: 100%; clear: both; display: block; float: right; text-align: right;"></div>
</div>
</th>
</tr>
</tbody>
</table>
</th>
</tr>
</tbody>
</table>
<!-- end ngRepeat: section in sections -->
<table class="row ev-section" style="border-spacing: 0; border-collapse: collapse; vertical-align: top; text-align: left; padding: 0; width: 100%; position: relative; display: table-row;">
<tbody>
<tr>
<th class="column small-12 large-12 last first" style="padding: 0; vertical-align: top; text-align: left; margin: 0 auto; Margin: 0 auto; padding-bottom: 16px; width: 564px; padding-left: 16px; padding-right: 16px;">
<table style="border-spacing: 0; border-collapse: collapse; padding: 0; vertical-align: top; text-align: left; width: 100%;">
<tbody>
<tr>
<th class="ev-block-dropzone p-line-height paragraph-spacing web-link pad-right" style="padding: 0; vertical-align: top; text-align: left; padding-right: 32px;">
<div class="ev-control: text-editor web-link cke_editable_inline cke_contents_ltr ev-block" style="margin-bottom: 0px; Margin-bottom: 0px; position: relative;" aria-readonly="false" aria-controls="cke_586" aria-activedescendant="" aria-autocomplete=
"list" aria-expanded="false" tabindex="0" spellcheck="false" role="textbox" aria-multiline="true" aria-label="Editor, editor1" title="Editor, editor1" aria-describedby="cke_55">
<p style=
"word-wrap: break-word; -webkit-hyphens: none; -moz-hyphens: none; hyphens: none; color: #58595b; font-family: Arial, sans-serif; font-weight: normal; padding: 0; Margin: 0; font-size: 14px; line-height: 24px; margin: 0px 0px 16px; text-align: justify;">
Dear&nbsp;Mr Jansen Van Rensburg</p>
<p style=
"word-wrap: break-word; -webkit-hyphens: none; -moz-hyphens: none; hyphens: none; color: #58595b; font-family: Arial, sans-serif; font-weight: normal; padding: 0; Margin: 0; text-align: left; font-size: 14px; line-height: 24px; margin: 0px 0px 16px;">
We are pleased to announce that the Orbis SICAV Global Cautious Fund (the Fund) is now available to South African investors on the Allan Gray Offshore Investment Platform and for the Allan Gray Offshore Endowment. The Fund seeks to apply a cautious
balance between investment returns and risk of loss with a diversified global portfolio of equities, fixed income and commodity-linked instruments.</p>
<p style=
"word-wrap: break-word; -webkit-hyphens: none; -moz-hyphens: none; hyphens: none; color: #58595b; font-family: Arial, sans-serif; font-weight: normal; padding: 0; Margin: 0; text-align: left; font-size: 14px; line-height: 24px; margin: 0px 0px 16px;">
Please refer to <a href="https://allangray.everlytic.net/servlet/link/23384/81348/51303292/378791" style=
"line-height: inherit; font-size: inherit; text-decoration: none; color: #57AFD2; font-weight: normal;">Practice Note 395</a> for further details on the Fund.</p>
<p style=
"word-wrap: break-word; -webkit-hyphens: none; -moz-hyphens: none; hyphens: none; color: #58595b; font-family: Arial, sans-serif; font-weight: normal; padding: 0; Margin: 0; text-align: left; font-size: 14px; line-height: 24px; margin: 0px 0px 16px;">
If you have any questions or feedback, please contact your Business Development Manager, our Allan Gray Adviser Service Centre on 0860 000 653 or email <a href=
"mailto:ifa@allangray.co.za?subject=Re%3A%20Practice%20Note%20395%3A%20The%20Orbis%20SICAV%20Global%20Cautious%20Fund%20will%20be%20added%20to%20the%20Offshore%20Platform" style=
"line-height: inherit; font-size: inherit; text-decoration: none; color: #57AFD2; font-weight: normal;">ifa@allangray.co.za</a>.<br>
<br>
Yours sincerely<br>
<strong>Allan Gray Adviser Services</strong></p>
</div>
</th>
<th class="expander" style="vertical-align: top; text-align: left; visibility: hidden; width: 0; padding: 0;"></th>
</tr>
</tbody>
</table>
</th>
</tr>
</tbody>
</table>
<!-- end ngRepeat: section in sections -->
<table class="grey-bar-footer-1 row ev-section" save="AGN - PFS - Contact Details: Info" style=
"border-spacing: 0; border-collapse: collapse; vertical-align: top; text-align: left; background-color: #ebebeb; padding: 0; position: relative; display: table-row; width: 100%; min-width: 100%; max-width: 100%;" exclude="true">
<tbody>
<tr>
<th class="column small-12 large-12 first last" style=
"padding: 0; text-align: left; margin: 0 auto; Margin: 0 auto; width: 564px; padding-left: 16px; padding-right: 16px; padding-top: 16px; padding-bottom: 16px; min-width: 100%; max-width: 100%; vertical-align: middle;">
<table border="0" cellpadding="0" cellspacing="0" style="border-spacing: 0; border-collapse: collapse; padding: 0; text-align: left; width: 100%; min-width: 100%; max-width: 100%; vertical-align: middle;">
<tbody>
<tr>
<th class="small-12 large-3 small-float-center" style="padding: 0; vertical-align: top; text-align: left; padding-left: 8px; padding-right: 8px; width: 25%;">
<table class="small-float-center ev-mobile-table-width" style="border-spacing: 0; border-collapse: collapse; padding: 0; vertical-align: top; text-align: left; width: auto;">
<tbody>
<tr>
<th class="ev-block-dropzone float-right" style="padding: 0; vertical-align: top; float: right; text-align: right; min-width: 20px;"><img class="ev-control: image float-right ev-block" height="16" src=
"https://dy9rgikdeqxu.cloudfront.net/users/assets/412/images/call.png" width="20" style=
"outline: none; text-decoration: none; -ms-interpolation-mode: bicubic; width: auto; max-width: 100%; clear: both; display: block; float: right; text-align: right; margin-top: 0px; Margin-top: 0px; margin-bottom: 0px; Margin-bottom: 0px;"></th>
<th class="ev-block-dropzone adobe-font small-text-left numbers-mrgn" style="padding: 0; text-align: left; vertical-align: middle; min-width: 50px; white-space: nowrap;">
<div class="ev-control: text-editor ev-block" style="margin-bottom: 0px; Margin-bottom: 0px; position: relative;">
<p style=
"word-wrap: break-word; -webkit-hyphens: none; -moz-hyphens: none; hyphens: none; color: #58595b; padding: 0; margin: 0; Margin: 0; text-align: left; font-family: Georgia, Times, 'Times New Roman', serif; font-size: 11px; line-height: 11px; font-weight: bold;">
0860 000 653</p>
</div>
</th>
</tr>
</tbody>
</table>
</th>
<th class="small-12 large-5 float-center small-float-center" style="padding: 0; vertical-align: top; padding-left: 8px; padding-right: 8px; margin: 0 auto; Margin: 0 auto; float: none; text-align: center; width: 41.66667%;">
<table class="float-center small-float-center left ev-mobile-table-width" style="border-spacing: 0; border-collapse: collapse; padding: 0; vertical-align: top; margin: 0 auto; Margin: 0 auto; float: none; text-align: center; width: auto;">
<tbody>
<tr>
<th class="ev-block-dropzone float-right" style="padding: 0; vertical-align: top; float: right; text-align: right; min-width: 23px;"><img class="ev-control: image float-right ev-block" height="18" src=
"https://d2pc67ekgjx6l.cloudfront.net/images/templates/hn4t7gRhSmEJNL8yY0iRO84ax4ZezySZ/email_1.png" width="23" style=
"outline: none; text-decoration: none; -ms-interpolation-mode: bicubic; width: auto; max-width: 100%; clear: both; display: block; float: right; text-align: right; margin-top: 0px; Margin-top: 0px; margin-bottom: 0px; Margin-bottom: 0px;"></th>
<th class="ev-block-dropzone adobe-font" style="padding: 0; text-align: left; vertical-align: middle;">
<div class="ev-control: text-editor ev-block" style="margin-bottom: 0px; Margin-bottom: 0px; position: relative;" aria-readonly="false" aria-controls="cke_832" aria-activedescendant="" aria-autocomplete="list" aria-expanded="false">
<p style=
"word-wrap: break-word; -webkit-hyphens: none; -moz-hyphens: none; hyphens: none; color: #58595b; padding: 0; margin: 0; Margin: 0; text-align: left; font-family: Georgia, Times, 'Times New Roman', serif; font-size: 11px; line-height: 11px; font-weight: bold;">
<a href="mailto:ifa@allangray.co.za?subject=Re%3A%20Practice%20Note%20395%3A%20The%20Orbis%20SICAV%20Global%20Cautious%20Fund%20will%20be%20added%20to%20the%20Offshore%20Platform" style=
"font-family: Georgia, Times, 'Times New Roman', serif; font-size: 11px; line-height: 11px; font-weight: bold; color: #58595b; text-decoration: none; text-align: center;">ifa@allangray.co.za</a></p>
</div>
</th>
</tr>
</tbody>
</table>
</th>
<th class="small-12 large-4 float-right small-float-center" style="padding: 0; vertical-align: top; float: right; text-align: right; padding-left: 8px; padding-right: 8px; width: 33.33333%;">
<table class="float-right small-float-center ev-mobile-table-width" style="border-spacing: 0; border-collapse: collapse; padding: 0; vertical-align: top; float: right; text-align: right; width: auto;">
<tbody>
<tr>
<th class="ev-block-dropzone float-right" style="padding: 0; vertical-align: top; float: right; text-align: right; min-width: 22px;"><img class="ev-control: image float-right ev-block" height="16" src=
"http://aime.everlytic.net/images/templates/KD0NuRyL2SlehxQHWS95bjeD3BeA6TXs/icon_web.png" width="22" style=
"outline: none; text-decoration: none; -ms-interpolation-mode: bicubic; width: auto; max-width: 100%; clear: both; display: block; float: right; text-align: right; margin-top: 0px; Margin-top: 0px; margin-bottom: 0px; Margin-bottom: 0px;"></th>
<th class="ev-block-dropzone adobe-font" style="padding: 0; text-align: left; vertical-align: middle; min-width: 120px;">
<div class="ev-control: text-editor ev-block" style="margin-bottom: 0px; Margin-bottom: 0px; position: relative;">
<p style=
"word-wrap: break-word; -webkit-hyphens: none; -moz-hyphens: none; hyphens: none; color: #58595b; padding: 0; margin: 0; Margin: 0; text-align: left; font-family: Georgia, Times, 'Times New Roman', serif; font-size: 11px; line-height: 11px; font-weight: bold;">
<a href="https://allangray.everlytic.net/servlet/link/23384/81348/51303292/378792" style=
"font-family: Georgia, Times, 'Times New Roman', serif; font-size: 11px; line-height: 11px; font-weight: bold; color: #58595b; text-decoration: none; text-align: center;">www.allangray.co.za</a></p>
</div>
</th>
</tr>
</tbody>
</table>
</th>
</tr>
</tbody>
</table>
</th>
</tr>
</tbody>
</table>
<!-- end ngRepeat: section in sections -->
<table class="collapse row ev-section" save="AGN - PFS - Logo Strap" exclude="true" style="border-spacing: 0; border-collapse: collapse; vertical-align: top; text-align: left; padding: 0; width: 100%; position: relative; display: table-row;">
<tbody>
<tr>
<th style="padding: 0; vertical-align: top; text-align: left; margin: 0 auto; Margin: 0 auto; padding-right: 0; padding-left: 0; width: 588px; padding-top: 24px; padding-bottom: 16px;" class="column small-12 large-12 last first">
<table style="border-spacing: 0; border-collapse: collapse; padding: 0; vertical-align: top; text-align: left; width: 100%;">
<tbody>
<tr>
<th style="vertical-align: top; float: right; text-align: right; padding: 0px; line-height: 0px; font-size: 0px; padding-left: 16px;" class="float-right ev-block-dropzone">
<div class="ev-image-wrap ev-control: image ev-block" style="margin-bottom: 0px; Margin-bottom: 0px;"><a href=
"https://allangray.everlytic.net/servlet/link/23384/81348/51303292/378793" title="" style=
"line-height: inherit; font-size: inherit; color: #58595b; text-decoration: none;"><img src="https://cdn18.mailercdn.net/users/assets/427/images/Timelines%20and%20Footers/final_file.png?v=1710670174386" width="565" height="64" class="float-right"
alt="" style="outline: none; text-decoration: none; -ms-interpolation-mode: bicubic; width: auto; max-width: 100%; clear: both; display: block; border: none; float: right; text-align: right;"></a></div>
</th>
</tr>
</tbody>
</table>
</th>
</tr>
</tbody>
</table>
<!-- end ngRepeat: section in sections -->
<table save="AGN - PFS - Disclaimers 3 Buttons" style="border-spacing: 0; border-collapse: collapse; vertical-align: top; text-align: left; padding: 0; position: relative; display: table-row; width: 100%; min-width: 100%; max-width: 100%;" exclude=
"true" class="row ev-section">
<tbody>
<tr>
<th class="column small-12 large-12 last first" style="padding: 0; vertical-align: top; text-align: left; margin: 0 auto; Margin: 0 auto; padding-bottom: 16px; width: 564px; padding-left: 16px; padding-right: 16px;">
<table style="border-spacing: 0; border-collapse: collapse; padding: 0; vertical-align: top; text-align: left; width: 100%; min-width: 100%; max-width: 100%;">
<tbody>
<tr>
<th style="vertical-align: top; text-align: left; width: 100%; min-width: 100%; max-width: 100%; padding: 0px;">
<table style="border-spacing: 0; border-collapse: collapse; padding: 0; vertical-align: top; text-align: left; width: 100%; min-width: 100%; max-width: 100%;">
<tbody>
<tr>
<th class="ev-block-dropzone small-12 footer-btn-grey" style="padding: 0; vertical-align: top; text-align: left; width: 32%;">
<div class="ev-control: button ev-block" style="margin-bottom: 0px; Margin-bottom: 0px;">
<table class="expanded button" style="border-spacing: 0; border-collapse: collapse; padding: 0; vertical-align: top; text-align: left; margin: 0px; Margin: 0px; width: 100%;">
<tbody>
<tr>
<td style="word-wrap: break-word; -webkit-hyphens: auto; -moz-hyphens: auto; hyphens: auto; border-collapse: collapse; padding: 0; vertical-align: top; text-align: left;">
<table style="border-spacing: 0; border-collapse: collapse; padding: 0; vertical-align: top; text-align: left; width: 100%;">
<tbody>
<tr>
<td width="100%" style=
"word-wrap: break-word; -webkit-hyphens: auto; -moz-hyphens: auto; hyphens: auto; border-collapse: collapse; vertical-align: top; width: 120px; text-align: center; color: #58595b; background: #e6e7e8; border: 0px solid #e6e7e8; border-radius: 5px; padding: 8px 16px;">
<a href="https://allangray.everlytic.net/servlet/link/23384/81348/51303292/378794" style=
"text-align: center; width: 100%; padding-left: 0; padding-right: 0; font-family: Arial, sans-serif; font-size: 11px; line-height: 12px; font-weight: normal; color: #58595b; text-decoration: none; display: inline-block; border: 0px solid #e6e7e8; border-radius: 0px; margin: 0; Margin: 0;">
Investor information</a></td>
</tr>
</tbody>
</table>
</td>
</tr>
</tbody>
</table>
</div>
</th>
<th class="small-12 mobile-bottom-padding" style="vertical-align: top; text-align: left; padding: 0px 8px;"></th>
<th class="ev-block-dropzone small-12 footer-btn-grey" style="padding: 0; vertical-align: top; text-align: left; width: 32%;">
<div class="ev-control: button ev-block" style="margin-bottom: 0px; Margin-bottom: 0px;">
<table class="expanded button" style="border-spacing: 0; border-collapse: collapse; padding: 0; vertical-align: top; text-align: left; margin: 0px; Margin: 0px; width: 100%;">
<tbody>
<tr>
<td style="word-wrap: break-word; -webkit-hyphens: auto; -moz-hyphens: auto; hyphens: auto; border-collapse: collapse; padding: 0; vertical-align: top; text-align: left;">
<table style="border-spacing: 0; border-collapse: collapse; padding: 0; vertical-align: top; text-align: left; width: 100%;">
<tbody>
<tr>
<td width="100%" style=
"word-wrap: break-word; -webkit-hyphens: auto; -moz-hyphens: auto; hyphens: auto; border-collapse: collapse; vertical-align: top; width: 120px; text-align: center; color: #58595b; background: #e6e7e8; border: 0px solid #e6e7e8; border-radius: 5px; padding: 8px 16px;">
<a href="https://allangray.everlytic.net/servlet/link/23384/81348/51303292/378795" style=
"text-align: center; width: 100%; padding-left: 0; padding-right: 0; font-family: Arial, sans-serif; font-size: 11px; line-height: 12px; font-weight: normal; color: #58595b; text-decoration: none; display: inline-block; border: 0px solid #e6e7e8; border-radius: 0px; margin: 0; Margin: 0;">
Legal information</a></td>
</tr>
</tbody>
</table>
</td>
</tr>
</tbody>
</table>
</div>
</th>
<th class="small-12 mobile-bottom-padding" style="vertical-align: top; text-align: left; padding: 0px 8px;"></th>
<th class="ev-block-dropzone small-12 footer-btn-grey" style="padding: 0; vertical-align: top; text-align: left; width: 32%;">
<div class="ev-control: button ev-block" style="margin-bottom: 0px; Margin-bottom: 0px;">
<table class="expanded button" style="border-spacing: 0; border-collapse: collapse; padding: 0; vertical-align: top; text-align: left; margin: 0px; Margin: 0px; width: 100%;">
<tbody>
<tr>
<td style="word-wrap: break-word; -webkit-hyphens: auto; -moz-hyphens: auto; hyphens: auto; border-collapse: collapse; padding: 0; vertical-align: top; text-align: left;">
<table style="border-spacing: 0; border-collapse: collapse; padding: 0; vertical-align: top; text-align: left; width: 100%;">
<tbody>
<tr>
<td width="100%" style=
"word-wrap: break-word; -webkit-hyphens: auto; -moz-hyphens: auto; hyphens: auto; border-collapse: collapse; vertical-align: top; width: 120px; text-align: center; color: #58595b; background: #e6e7e8; border: 0px solid #e6e7e8; border-radius: 5px; padding: 8px 16px;">
<a href="https://allangray.everlytic.net/servlet/link/23384/81348/51303292/378796" style=
"text-align: center; width: 100%; padding-left: 0; padding-right: 0; font-family: Arial, sans-serif; font-size: 11px; line-height: 12px; font-weight: normal; color: #58595b; text-decoration: none; display: inline-block; border: 0px solid #e6e7e8; border-radius: 0px; margin: 0; Margin: 0;">
Email legal notice</a></td>
</tr>
</tbody>
</table>
</td>
</tr>
</tbody>
</table>
</div>
</th>
</tr>
</tbody>
</table>
</th>
</tr>
</tbody>
</table>
</th>
</tr>
</tbody>
</table>
<!-- end ngRepeat: section in sections --></center>
</td>
</tr>
</tbody>
</table>
</center>
</td>
</tr>
</tbody>
</table>
<img src="https://allangray.evread18.net/s/r/23384/81348/51303292/18.gif?m=pAJJ2jNGmeupSLyq&amp;h=f5958b52aa3180b5fa15e71a894fb08c" alt="" height="1" width="1" style=
"outline: none; text-decoration: none; -ms-interpolation-mode: bicubic; width: auto; max-width: 100%; clear: both; display: block;">
</body>
</html>
