| Equity Local | 65% | 65% of this portfolio is held in domestic (SA) shares |
| Equity Foreign | 15% | 15% of this portfolio is held in foreign (offshore) shares |
| Equity Total | 80% | 80% is held in equities (rather than bonds, cash or property) |
In the illustration below, for example, the fund has steadily reduced its holdings in domestic (SA) shares, while steadily increasing its holdings in overseas shares. As a percentage of the full portfolio however, the amount invested in shares has declined steadily (at the rate of 5% per quarter).
| Equities Local | 60% | 50% | 40% | 30% |
| Equities Foreign | 20% | 25% | 30% | 34% |
| Equities Total | 80% | 75% | 70% | 65% |
