The logic behind the new system is to treat all contributions to pension, provident and retirement annuity funds as a deductible employment expense for the employer and taxable fringe benefit for the employee. This leaves the employer in a tax neutral position.
The Allan Gray-Orbis Global Equity Feeder Fund remains fully invested in global equities. The objective of the Fund is to outperform the FTSE World Index at no greater-than average risk of loss in its sector.
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