FNB Horizon Series

Switch to FNB Business

Apply now! Retrieve application

By Turnover

Gold Business (R0 - R5 million p.a) Platinum Business (R5 million - R60 million p.a)

Transact

Business Accounts Credit Cards Cash Solutions Merchant Services eWallet Pro ATM Solutions Ways to bank Fleet Services

Invest

Save + Invest 3PIM (3rd Party Investment Manager)

Borrow

Overdraft Loans Debtor Finance Leveraged Finance Private Equity Vumela Securities Based Lending Selective Invoice Discounting Asset Based Finance Commercial property finance Fleet Services

Insure

Insurance

Forex + Trade

Foreign exchange + Trade solutions Structured Trade + Commodity Finance Business Global Account (CFC account)

Value Adds + Rewards

the dti initiatives Business Talk eBucks Rewards for Business DocTrail™ Business directory CIPC + BEE Instant Accounting Solutions Instant Payroll Instant Cashflow Instant Invoicing SLOW Staffing Solutions 24/7 Business Desk

Industry Expertise

Philanthropy Chinese Business Islamic Banking Agriculture Public Sector Education Healthcare Franchise Motor Dealership Tourism

Going Global

Global Commercial Banking

Financial Planning

Overview

Bank Better

Demos KYC / FICA Debit order + recipient switching Electronic Alerts

Switch to FNB

Do it now!

Private Banking

Private Clients - Earn between R750 000 - R1 499 999 per year Private Wealth - Earn above R1.5m or have NAV of R15m p.a. to qualify

Home Loans

Affordability Bond Calculator Replacement Value

Day to day banking

Budget Future Value Credit Cards

Shares

Share Builder Share Investor

Vehicle Finance

Vehicle Repayment Vehicle Purchase Price

International

Forex

Product Rates

Savings + Investments Transactional Savings Legal Practitioners and General Trust Account Global Accounts

Pricing Guide

Overview

Rates

Foreign Exchange Rates Lending Rates

Indicators and Share Price

SA Indicators FirstRand Share Price

News + Insights

Press Office Economics commentary Insights

Terms + Conditions

Product Terms and Conditions Promotions Terms and Conditions Legal Matters

Social Responsibility

FNB Fund FNB Volunteers

About Us

World of FNB

FNB Subsidiaries

Botswana Lesotho Ghana Namibia Swaziland Tanzania Zambia Channel Islands

Talk to us + important numbers

For Me For My Business

Fraud + Disputes

Security Centre

Locators

ATM Locator Branch Locator/Book a Branch Visit Business Directory

Tools

Debit order + salary switching Track and Trace Lead Form Tracking Upload Documents - For Me Upload Documents - For My Business Software Downloads FNB Approved Suppliers Verify Guarantee Verify Statements Verify Payments Verify Account Confirmation/Visa Application Letters eWallet balance enquiry iContract

Careers at FNB

Find out more about careers at FNB Apply here

All savings + investment accounts

Cash deposits

Notice deposits Immediate access Access to a portion Fixed deposits

Share investing

Shares

Tax-free investing

Tax-free accounts

Funds/unit trusts

Ashburton specialised products

Invest abroad

Offshore products

I want to save for

Personal goals Child's education Emergencies Retirement In retirement Tax-free

Compare similar

Compare

Additional options

Show me all Help me chosse Find an advisor

Financial planning

Overview

Your access details have been entered incorrectly

Please note on your third failed attempt your profile will be blocked.

Username

Password

Have you forgotten your Username or Password?

Reset your Username or Password

Find a branch

Show branches which allow bookings
Show branches not affected by loadshedding
Show branches with extended operating hours
Show branches with wifi

Get in touch

Call the FNB Advice suite today on 087 736 8941 to open your Horizon Series, unit Trusts today

Daily Fund Price

Fund Name	Nav Price - 13 Nov 2018
FNB Stable Fund	101.67
FNB Income Fund	102.36
FNB Moderate Fund	99.51
FNB Growth Fund	98.25
FNB Growth Plus Fund	100.16

Fund Fact Sheets

Tax-Free Savings

All returns and dividends earned through this fund are tax free. You can save up to R33 000 per year or R500 000 during your life-time and enjoy easy and immediate access to your funds - tax free. A tax free savings account allows you to enjoy the full advantages of compound growth over the life of the product.

Tax-Free Savings

All returns and dividends earned through this fund are tax free. You can save up to R33 000 per year or R500 000 during your life-time and enjoy easy and immediate access to your funds - tax free. A tax free savings account allows you to enjoy the full advantages of compound growth over the life of the product.

FNB Horizon Series fund options

FNB Horizon Series investment products

Look through into fund construction

Strategy/Fund/Index	FNB Income Fund	FNB Stable Fund	FNB Moderate Fund	FNB Growth Fund	FNB Growth Plus Fund
RSA Cash	30.77%	9.88%	70.34%	5.78%	0.15%
Ashburton Money Market	3.50%	1.09%	7.11%	0.88%	0.00%
Ashburton Stable Income	27.21%	8.73%	63.04%	4.86%	0.00%
Cash Balance	0.06%	0.07%	0.19%	0.04%	0.15%
Low Duration Fixed Income	0.00%	0.00%	0.00%	0.00%	0.00%
Ashburton SA Income	0.00%	0.00%	0.00%	0.00%	0.00%
Ashburton Multi Manager Income	0.00%	0.00%	0.00%	0.00%	0.00%
RSA Equity	20.02%	34.98%	4.86%	47.66%	49.46%
Ashburton Multi Manager Equity	4.28%	4.40%	3.51%	19.22%	20.22%
Ashburton Equity	0.00%	0.00%	0.00%	0.00%	0.00%
Ashburton SA Enhanced Value Tracker Fund	0.00%	0.00%	0.00%	0.00%	0.00%
Ashburton SA Low Beta Tracker Fund	0.00%	0.00%	0.00%	0.00%	0.00%
Ashburton SA Momentum Tracker Fund	0.00%	0.00%	0.00%	0.00%	0.00%
Ashburton MidCap ETF	0.00%	0.00%	0.00%	0.00%	0.00%
Ashburton Top40 ETF	15.74%	30.58%	1.35%	28.44%	29.23%
RSA Property	4.99%	10.67%	4.98%	10.13%	15.05%
Ashburton Multi Manager Property	4.99%	10.67%	4.98%	10.13%	15.05%
Ashburton Property	0.00%	0.00%	0.00%	0.00%	0.00%
Ashburton Listed Property Tracker Fund	0.00%	0.00%	0.00%	0.00%	0.00%
RSA Fixed income	30.71%	26.05%	14.78%	13.43%	5.15%
Ashburton Bond	22.01%	10.86%	10.96%	5.89%	3.60%
Ashburton Multi Manager Bond	0.00%	0.00%	0.00%	0.00%	0.00%
Ashburton inflation - ETF	0.00%	0.00%	0.00%	0.00%	0.00%
Ashburton Government Bond Tracker Funds	8.70%	15.19%	3.82%	7.54%	1.54%
International	13.51%	18.42%	5.05%	22.99%	30.19%
Ashburton SP1200 Tracker Fund	0.00%	0.18%	0.00%	0.00%	0.00%
Ashburton Global Flex FD	4.36%	0.81%	0.53%	3.97%	0.27%
Ashburton SP1200 Global Equity ETF	5.05%	9.83%	3.25%	10.26%	25.15%
Ashburton Global/Leaders Fund	0.00%	0.00%	0.00%	0.00%	0.00%
Ashburton World Govb ETF	2.25%	2.51%	1.21%	3.15%	4.77%
Grand Total	100%	100%	100%	100%	100%

Source:

Ashburton Investments

Disclaimer:

FNB CIS Manco (RF) (Pty) Ltd (Registration Number 2006/036970/07) ("FNB CIS Manco") is an approved collective investment schemes manager of the FNB CIS Manco Collective Investment Schemes (FNB CIS), in terms of the Collective Investment Schemes Control Act, No. 45 of 2002. The FNB CIS Manco is regulated by the Financial Services Board and is a full member of the Association for Savings and Investment South Africa ("ASISA"). This document and any other information supplied in connection with the FNB CIS is not "advice" as defined and/or contemplated in terms of the Financial Advisory and Intermediary Services Act, 37 of 2002 ("the FAIS Act") and investors are encouraged to obtain their own independent advice prior to buying participatory interests in the collective investments scheme ("CIS") portfolios issued under the FNB CIS. Any investment is speculative and involves significant risks and therefore, prior to investing, investors should fully understand the portfolios and any risks associated with them. Collective investment schemes in securities are generally medium to long term investments. If a potential investor requires material risks disclosures for the foreign securities included in a portfolio, the manager will upon request provide such potential investor with a document outlining: potential constraints on liquidity and repatriation of funds; macroeconomic risk; political risk; foreign exchange risk; tax risk; settlement risk; and potential limitations on the availability of market information. The value of participatory interests in collective investment schemes may go down as well as up and past performance is not necessarily a guide to the future. Forward pricing is used and portfolio valuations take place at 17h00 each business day. Instructions to redeem or repurchase must reach the FNB CIS Manco before 14h00 to ensure same day value. A fund of funds is a portfolio that invests in portfolios of collective investment schemes that levy their own charges, which could result in a higher fee structure for the fund of funds. Excessive withdrawals from the portfolio may place the portfolio under liquidity pressures. In such circumstances a process of ring-fencing of withdrawal instructions and managed pay-outs over time may be followed. CIS portfolios are traded at ruling prices and can engage in borrowing and scrip lending. Fluctuations or movements in exchange rates may cause the value of underlying investments to go up or down. A CIS portfolio may borrow up to 10% of the market value of the portfolio to bridge insufficient liquidity. Participatory interests in CIS portfolios are calculated on a net asset value (NAV) basis, which is the total market value of all assets in the portfolio including any income accruals and less any permissible deductions from the CIS portfolio divided by the number of participatory interests in issue. All fees quoted exclude VAT except where stated differently. The Total Expense Ratio (TER) is expressed as an annualised percentage of the charges, levies and fees incurred by the portfolio related to its management, for the period under review against the average NAV of the portfolio over this period. A higher TER does not necessarily imply a poor return, nor does a lower TER imply a good return. The current TER cannot be regarded as an indication of future TERs. A full detailed schedule of fees, charges and commissions is available from the FNB CIS Manco on request and incentives may be paid and if so, would be included in the overall costs. Ashburton Fund Managers (Pty) Ltd is an authorised Financial Services Provider.

Designed to beat inflation

The secret to wealth creation and to achieving your goals lies in ensuring that your money grows at a faster pace than inflation. If your investment is growing at less than inflation, then you are effectively losing money over the longer term. The longer your investment time horizon the more important it is for your money to grow at a faster pace than inflation. That is why the Horizon Series is designed to beat inflation over time.

Our Horizon Series targets different returns over different time horizons, allowing you to take the appropriate level of risk to achieve your medium to longer term investment goals.

Compare

	FNB Income Fund	FNB Stable Fund	FNB Moderate Fund	FNB Growth Fund	FNB Growth Plus Fund
Investment objective	Conservative returns	Stable returns	Moderate returns	Optimise returns	Maximise returns
Investment term (Horizon)	1-2 years	3 years	5 years	7 years	10 years
Return target	inflation +1%	inflation +2%	inflation +3.5%	inflation +5%	FTSE/JSE All Share Index
Investment (ASISA) category	Multi Asset - income	Multi Asset - low equity	Multi Asset - medium equity	Multi Asset - high equity	Worldwide Multi Asset - fexible
Maximum Drawdown	2%	6%	15%	25%	No limit
Minimum monthly debit order
Investment Account	R500	R500	R500	R500	R500
Retirement Annuity	R500	R500	R500	R500	R500
Endowment	R500	R500	R500	R500	R500
Living Annuity	n/a	n/a	n/a	n/a	n/a
Minimum lump sum deposit
Investment Account	R5 000	R5 000	R5 000	R5 000	R5 000
Retirement Annuity	R25 000	R25 000	R25 000	R25 000	R25 000
Endowment	R50 000	R50 000	R50 000	R50 000	R50 000
Living Annuity	R100 000	R100 000	R100 000	R100 000	R100 000
Asset allocation	Primarily defensive assets (cash & fxed income). A small portion into growth assets (local property & equity and international equity)	Largely defensive assets (cash & fixed income). A portion into growth assets local property & equity and international equity)	Diversified portfolio investing in a balance of both defensive assests (cash & fixed income & growth assests local property & equity and international equity)	Primarily growth assets (local property & equity and international equity). A small portion into defensive assets (cash & fixed income)	Primarily growth assets (local property & equity and international equity). At times a small portion into defensive assets (cash & fixed income)
Reg. 28. Compliant**	Yes	Yes	Yes	Yes	No
Total TER of FOF	0,71%	0,89%	1,06%	1,20%	1,26%
Administration charges (excl. VAT) = 0.2%-0.4% depending on consolidated AUM on platform
Total including VAT and rebates (without advice fees and TC)	1,11%	1,29%	1,47%	1,61%	1,77%
Estimated Transaction costs	0,03%	0,07%	0,12%	0,15%	0,15%
No performance fees or initial, exit or switch charges
Total including VAT and rebates (without advice fees and TC)	1,14%	1,36%	1,59%	1,76%	1,92%
JSE Code	FNBIF	FNBSF	FNBMF	FNGEE	FNBGF
Risk Indicator	Low	Low - Moderate	Moderate	Moderate - High	High

Source:

Ashburton Investments

Disclaimer:

FNB CIS Manco (RF) (Pty) Ltd (Registration Number 2006/036970/07) ("FNB CIS Manco") is an approved collective investment schemes manager of the FNB CIS Manco Collective Investment Schemes (FNB CIS), in terms of the Collective Investment Schemes Control Act, No. 45 of 2002. The FNB CIS Manco is regulated by the Financial Services Board and is a full member of the Association for Savings and Investment South Africa ("ASISA"). This document and any other information supplied in connection with the FNB CIS is not "advice" as defined and/or contemplated in terms of the Financial Advisory and Intermediary Services Act, 37 of 2002 ("the FAIS Act") and investors are encouraged to obtain their own independent advice prior to buying participatory interests in the collective investments scheme ("CIS") portfolios issued under the FNB CIS. Any investment is speculative and involves significant risks and therefore, prior to investing, investors should fully understand the portfolios and any risks associated with them. Collective investment schemes in securities are generally medium to long term investments. If a potential investor requires material risks disclosures for the foreign securities included in a portfolio, the manager will upon request provide such potential investor with a document outlining: potential constraints on liquidity and repatriation of funds; macroeconomic risk; political risk; foreign exchange risk; tax risk; settlement risk; and potential limitations on the availability of market information. The value of participatory interests in collective investment schemes may go down as well as up and past performance is not necessarily a guide to the future. Forward pricing is used and portfolio valuations take place at 17h00 each business day. Instructions to redeem or repurchase must reach the FNB CIS Manco before 14h00 to ensure same day value. A fund of funds is a portfolio that invests in portfolios of collective investment schemes that levy their own charges, which could result in a higher fee structure for the fund of funds. Excessive withdrawals from the portfolio may place the portfolio under liquidity pressures. In such circumstances a process of ring-fencing of withdrawal instructions and managed pay-outs over time may be followed. CIS portfolios are traded at ruling prices and can engage in borrowing and scrip lending. Fluctuations or movements in exchange rates may cause the value of underlying investments to go up or down. A CIS portfolio may borrow up to 10% of the market value of the portfolio to bridge insufficient liquidity. Participatory interests in CIS portfolios are calculated on a net asset value (NAV) basis, which is the total market value of all assets in the portfolio including any income accruals and less any permissible deductions from the CIS portfolio divided by the number of participatory interests in issue. All fees quoted exclude VAT except where stated differently. The Total Expense Ratio (TER) is expressed as an annualised percentage of the charges, levies and fees incurred by the portfolio related to its management, for the period under review against the average NAV of the portfolio over this period. A higher TER does not necessarily imply a poor return, nor does a lower TER imply a good return. The current TER cannot be regarded as an indication of future TERs. A full detailed schedule of fees, charges and commissions is available from the FNB CIS Manco on request and incentives may be paid and if so, would be included in the overall costs. Ashburton Fund Managers (Pty) Ltd is an authorised Financial Services Provider.

How long do you want to invest for?

Advanced stress testing

In developing the Horizon Series we have designed an advanced stress testing framework to test our investment strategy through many economic and market scenarios. This framework includes data gathered over the last decade during which multiple stresses and shocks were experienced in local and international financial markets.

The stress test is formulated to assess how likely it is that the funds within the Horizon Series will meet their objectives and to assess the probability that they will successfully meet their return and risk objectives on an ongoing basis.

Investment Account

An Investment Account allows you to save for the medium to long term with the advantage of knowing that you can enjoy inflation beating returns as well as the fexibility of access to your capital by selling units in your chosen funds at any time.

Living Annuity

When you retire, a portion of your retirement or provident fund capital must, by law, be used to buy a living annuity product that will pay you an income for life.

A Living Annuity is designed to give you greater control in retirement by allowing you to choose the income you receive annually (between 2.5% and 17.5%) and adjust it each year. This fexibility is ideal for retirees keen to play an active role in selecting the underlying funds they are invested in and who want an estate planning tool which allows them to leave the remaining capital to pre-determined beneficiaries. While the transfer into a living annuity from, for example, a retirement annuity is not taxed, the income you receive is taxed according to your marginal rate of tax.

Preservation Fund

FNB's Preservation Fund is an ideal way to protect your retirement savings and keep your retirement plans and projections on track while giving you the fexibility to make one taxable withdrawal ahead of retirement. The product is ideally for those requiring fexibility, such as new business owners and entrepreneurs, professionals working overseas in the short term or individuals switching jobs. You don't pay tax on the capital transferred from your employer into a Preservation Fund, or Capital Gains Tax on the growth of your savings, although income tax applies on retirement or withdrawal.

Retirement Annuity

Saving for retirement is a key pillar to any wealth creation and preservation plans. A Retirement Annuity is a long-term and fexible product which also allows you to supplement your existing retirement savings. Your savings are taxed within a retirement annuity, allowing you to enjoy the full advantages of compound growth over the life of the product.

Endowment

High income earners being taxed at the maximum marginal rate of 40% should consider an Endowment, which is taxed at a flat 30% and has the added advantage of being tax-free on maturity. As an ideal estate planning vehicle, an Endowment allows you to nominate beneficiaries to take over ownership of the investment when you pass on.

Tax-Free Savings

Investment Account

Living Annuity

Preservation Fund

Retirement Annuity

Endowment

Tax-Free Savings

Pricing and fees

As a member of ASISA FNB follows the EAC fee structure. The Effective Annual Cost (EAC) measure is a standardised disclosure methodology that can be used by investors and advisors to compare the total charges on most retail investment products and their impact on investment returns so that investors are able to make better informed decisions around retail savings and investment product options. For more detailed information regarding EAC calculations please refer to the EAC Standard on the ASISA website at www.asisa.org.za . For EAC calculations regarding your investment product please refer to the online calculator on the Ashburton website at www.ashburtoninvestments.com .

Investment Account

Pricing and fees

As a member of ASISA FNB follows the EAC fee structure. The Effective Annual Cost (EAC) measure is a standardised disclosure methodology that can be used by investors and advisors to compare the total charges on most retail investment products and their impact on investment returns so that investors are able to make better informed decisions around retail savings and investment product options. For more detailed information regarding EAC calculations please refer to the EAC Standard on the ASISA website at www.asisa.org.za . For EAC calculations regarding your investment product please refer to the online calculator on the Ashburton website at www.ashburtoninvestments.com .

Living Annuity

Pricing and fees

As a member of ASISA FNB follows the EAC fee structure. The Effective Annual Cost (EAC) measure is a standardised disclosure methodology that can be used by investors and advisors to compare the total charges on most retail investment products and their impact on investment returns so that investors are able to make better informed decisions around retail savings and investment product options. For more detailed information regarding EAC calculations please refer to the EAC Standard on the ASISA website at www.asisa.org.za ). For EAC calculations regarding your investment product please refer to the online calculator on the Ashburton website at www.ashburtoninvestments.com .

Preservation Fund

Pricing and fees

As a member of ASISA FNB follows the EAC fee structure. The Effective Annual Cost (EAC) measure is a standardised disclosure methodology that can be used by investors and advisors to compare the total charges on most retail investment products and their impact on investment returns so that investors are able to make better informed decisions around retail savings and investment product options. For more detailed information regarding EAC calculations please refer to the EAC Standard on the ASISA website at www.asisa.org.za . For EAC calculations regarding your investment product please refer to the online calculator on the Ashburton website at www.ashburtoninvestments.com .

Retirement Annuity

Pricing and fees

As a member of ASISA FNB follows the EAC fee structure. The Effective Annual Cost (EAC) measure is a standardised disclosure methodology that can be used by investors and advisors to compare the total charges on most retail investment products and their impact on investment returns so that investors are able to make better informed decisions around retail savings and investment product options. For more detailed information regarding EAC calculations please refer to the EAC Standard on the ASISA website at www.asisa.org.za . For EAC calculations regarding your investment product please refer to the online calculator on the Ashburton website at www.ashburtoninvestments.com .

Retirement Annuity

Pricing and fees

As a member of ASISA FNB follows the EAC fee structure. The Effective Annual Cost (EAC) measure is a standardised disclosure methodology that can be used by investors and advisors to compare the total charges on most retail investment products and their impact on investment returns so that investors are able to make better informed decisions around retail savings and investment product options. For more detailed information regarding EAC calculations please refer to the EAC Standard on the ASISA website at www.asisa.org.za . For EAC calculations regarding your investment product please refer to the online calculator on the Ashburton website www.ashburtoninvestments.com .