A top performer in first decade

The tenth year in the history of Discovery Invest has borne witness to several notable accomplishments:

• The PlexusCrown survey for the fourth quarter of December 2017
  saw Discovery Invest ranked as the fourth top CIS management company in the country.
• The asset manager's overall score shot up from 12th spot to 4th spot between March
  and December last year.
• For the fourth quarter of 2017, Discovery Invest showed strong material growth of 28% outpacing
  all peers, according to the Association of Savings and Investment South Africa.

Earnings revision investment style

The Discovery Balanced Funds range is suitable for investors looking to access a diversified investment. The share selection considers macroeconomic conditions and whether there will be broader acceptance of the investment opportunity from investors. These funds invest in companies where expected future profits are being revised upwards, trading at reasonable valuations. This "earnings revision" investment style is considered to be a strong sentiment indicator. An improvement in the outlook for a company is typically reflected in the market's earnings expectations for the company being revised higher.  The share prices of companies which are receiving positive earnings revisions typically outperform, whereas those companies where the outlook is deteriorating could see earnings estimates being revised lower by the market.

Consistent outperforming returns

The earnings revision investment style has worked well with the Discovery Balanced Funds giving investors consistent bench-mark beating returns*.

• The Discovery Balanced Fund enjoyed top quartile performance over one, three, five, seven and ten years, with returns of 10.85%; 6.24%; 10.78%; and 9.98% respectively to the end of February 2018.
• The Discovery Balanced Fund also moved from a PlexCrown rating of four crowns to five crowns.
• The Discovery Moderate Balanced Fund returned 10.73% over one year, 6.55% over three years and 9.83% over five years.
• Investors in the Discovery Cautious Balanced Fund saw returns of 10.53% over one year,  6.61% over three years and 8.58% over five years to the end of February 2018.

*Source: Profile Data, 28 February 2018

Our Balanced Funds offer subtle tweaks in each fund category to accommodate differing risk appetites.

• Discovery Cautious Balanced Fund: This fund is suitable for investors looking for capital protection and low risk. Investors benefit from stable returns over the short to medium term.
• Discovery Moderate Balanced Fund: This fund is suitable for investors who want to achieve moderate returns with reduced levels of volatility.  It offers stable returns at lower levels of volatility than a typical equity or balanced fund.
• Discovery Balanced Fund: This fund is suitable for investors looking for steady, stable growth
  over the long term. The targeted higher performance allows for high returns at moderate
  levels of volatility.

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Discovery Life Investment Services Pty (Ltd): Registration number 2007/005969/07, branded
as Discovery Invest, is an authorised financial services provider.