ASSETS

As at 31 March 2011 the total market value of the assets of the Fund amounted to R53 204 million.
These assets were held in the following types of investments (per market values as set out in the Audited Annual Financial Statements).

ACTUARIAL REVIEW AS AT 31 MARCH 2008

In terms of the Pension Funds Second  Amendment Act of 2007, the Surplus Apportionment  date (SAD) of the Fund is 31 March 2008.

The Trustees of the Fund have finalised the Surplus Apportionment Scheme and it was submitted to the Financial Services Board on 31 August 2011 for approval. A separate brochure setting out the details of the Surplus Apportionment Scheme was circulated to the Industry during July 2011.

The result of the Actuarial Valuation of the Fund has been approved by the Trustees with the Actuary certifying that the Fund was in a sound financial position.