Awards

Investec Asset Management has picked-up numerous industry awards, in recognition
of it's success in investment performance and service. Listed below are the accolades that the Company has received over the last 6 years.

Award	Category	Position	Fund / Manager
2004 - UK
Lipper Leader Fund Award 2004	Lipper Leader UK Fund of the Year 2003 - Mixed Asset - Balanced	First	Cautious Managed Fund
Lipper Citywire All Stars Award 2004	Best Manager - Mixed Asset Class	First	Cautious Managed Fund
Standard and Poor's Onshore Funds Awards 2004	One Year UK Marketed Funds - Asset Allocation - UK Defensive Sector out of 24 funds	First	Cautious Managed Fund
	Five Years UK Marketed Funds - Asset Allocation - UK Defensive Sector out of 16 funds	First	Cautious Managed Fund
	One Year UK Marketed Funds - Equity UK Income Sector out of 73 funds	First	Cautious Managed Fund
2004 - Offshore
Award	Category	Position	Fund / Manager
International Investment Offshore Fund & Product Awards 2004	Best Offshore Fund Range	Highly Commended	Investec Asset Management
Standard and Poor's Offshore Funds Awards 2004	One Year - Best Larger Group Category	Third	Investec Asset Management
2004 - South Africa
Award	Category	Position	Fund / Manager
Business Map Black Empowerment Awards 2004	Most Progressive Established Company of the Year	First	Investec Asset Management
Standard & Poor's Fund Awards 2004 - SA	Best Larger Group over One, Three and Five Years	First	Investec Asset Management
	1 Year Best in Sector - Domestic AA Flexible 1 Year Best in Sector - Domestic FI Bond 1 Year Best in Sector - Domestic FI Income	First First First	Investec Opportunity Fund Investec Gilt Fund Investec High Income Fund
	Three Years Best in Sector - Domestic EQ Growth Three Years Best in Sector - Domestic EQ Value	First First	Investec Growth Fund Investec Value Fund
	Five Years Best in Sector - Domestic AA flexible Five Years Best in Sector - Domestic EQ Value Five Years Best in Sector - Domestic FI Bond	First First First	Investec Opportunity Fund Investec Value Fund Investec Gilt Fund
Raging Bull Awards	ACI/Personal Finance Raging Bull Award for Management Company of the Year 2003	First	Investec Asset Management
	ACI/Personal Finance Raging Bull Award for top performance on a Sortino risk adjusted basis - Domestic Asset Allocation, Flexible funds - Domestic Equity, Growth funds - Domestic Equity, Value funds - Far East Equity, General funds	First First First First	Investec Opportunity Fund Investec Growth Fund Investec Value Fund Investec GS Asian Equity Fund
	ACI/Personal Finance Award for top straight performance - Asset Allocation - Flexible funds - Domestic Equity - Value funds - Domestic Equity - Growth funds - Domestic Fixed Interest, Bond funds	mm mmm First First First First	m m Investec Opportunity Fund Investec Value Fund Investec Growth Fund Investec Gilt Fund
2004 - Switzerland
Award	Category	Position	Fund / Manager
Lipper Leader Fund Awards 2004 - Swiss Fund Awards	Lipper Leader fund of the Year 2003 - Mixed Assets - USD Balanced	First	GSF Global Balanced Fund
2004 - Asia
Award	Category	Position	Fund / Manager
Morningstar 2003 - Fund Manager of the Year	Global Equity	First	Investec Global Equity Fund
South China Morning Post - Fund Manager of the Year Awards 2003	Equity Global (5 years)	First	Investec Global Strategic Value Fund
Benchmark - Fund of the Year Awards 2003	Equity Global (1 year)	First	Investec Global Strategic Value Fund
2003 - U.K.
Award	Category	Position	Fund / Manager
Bloomberg Money Investment Excellence Awards	Best Managed Fund category	First	Investec Cautious Managed Fund
Financial Adviser LIA Service Awards	Award for IAM's service levels to IFAs in the UK.	5-stars (Max award)	Investec Asset Management
Financial News Awards for Excellence in Institutional Asset Management	European Independent Specialist Manager UK Asset Management firm	Runner-up	Investec Asset Management
Standard and Poor's Onshore Funds Awards 2003	1 year UK Marketed Funds - Asset allocation - UK Defensive Sector out of 17 funds	First	Cautious Managed Fund
	1 Year UK Marketed Funds - Equity Global Sector	First	Global Free Enterprise Fund
	1 Year UK Investment Trust Category - Smaller Group	Runner-up	Investec Investment Management
	1 Year UK Marketed Funds Category - Larger Group	Runner-up	Investec Asset Management
Global Investor Awards	"Firms to watch in 2003"	Runner-up	Investec Asset Management
Professional Adviser Awards	Best All Rounder (Large Group Category) over 3 years	First	Investec Asset Management
Professional Adviser Awards	International category	Runner-up	Investec Asset Management
2003 - Offshore
Standard & Poor's Offshore Funds Awards 2003	Overall Offshore Group Winner	First	Investec Asset Management
	Best Larger Group over 1 year	First	Investec Asset Management
	Best Larger Group over 10 years	First	Investec Asset Management
	Best Larger Group over 5 years	Runner-up	Investec Asset Management
Benchmark Fund of the Year Awards 2002	Equity & Commodity Funds - 3 Years	First	GSF Global Energy Fund
2003 - South Africa
Standard & Poor's Unit Trust Funds Awards 2003	Best Group over 5 years (Third year running)	First	Investec Asset Management
	1 Year Best in Domestic - Fixed Interest - Income Sector	First	High Income Fund
	1 Year Best in Domestic - Equity - Value Sector	First	Value Fund
	3 Years Best in Domestic - Equity - Value Sector	First	Value Fund
	3 Years Best in Domestic - Asset Allocation - Flexible Sector	First	Opportunity Fund
	3 Years Best in Foreign - Equity - General Sector	First	Global Multi-Manager Fund
	5 Years Best in Domestic - Equity - General Sector	First	Index Fund
	5 Years Best in Domestic - Fixed Interest - Bond Sector	First	Gilt Fund
2003 - Switzerland
Standard & Poor's Swiss Funds Awards 2003	1 Year Sector Award - Swiss Registered UK Equities - out of 36 funds	First	GSF UK Equity Fund
Lipper Leader Fund Awards 2003 - Swiss Funds Awards	Lipper Leader Fund of the Year 2002 - Equity - European Smaller Companies	First	GSF European Smaller Companies Fund
2003 - Asia
Standard & Poor's Hong Kong Funds Award 2003	Best Overall Group over 10 Years	First	Investec Asset Management
Standard & Poor's Taiwan Investment Funds Awards 2003	Equity Japan - 3 Years	First	GSF Japan Equity Fund
	Equity Global - 5 Years	Third	GSF Global Privatisation
	Fixed Income USD - 3 Years	Third	GSF USD Bond
	Fixed Income USD - 10 Years	Second	GSF USD bond
South China Morning Post - Fund Manager of the Year Awards 2002	Best Performing Fund Management Group - 10 Years	First	Investec Asset Management
2002 - U.K./ Europe
Kasina Award	Recognised as One of the Top 10 Websites for Financial Professionals in Europe	Top 10	Investec Asset Management's Website
Financial Advisor LIA Service Awards	Award for IAM's service levels to IFAs in UK	4 star	Investec Asset Management
Standard and Poor's Onshore Funds Awards 2002	1 Year UK Registered for Sale Fund Asset Allocation UK Defensive Sector out of 16 funds	First	Cautious Managed Fund
	5 Years UK Investment Trust UK High Income Sector out of 9 funds	First	Archimedes-Cap (2003)
	1 Year UK Investment Trust Sector Spec Tech Media & Tele Sector out of 13 funds	First	Asian Technology
	1 Year UK Investment Trust Category (Smaller Group)	Runner-Up	Investec Investment Management
	5 Years UK Investment Trust Category (Smaller Group)	Runner-Up	Investec Investment Management
2002 - Offshore
Standard and Poor's Offshore Funds Awards 2002	1 Year Offshore Fund Category - Larger Group	First	Investec Asset Management
	1 Year Offshore Funds Fixed Income USD Sector out of 25 funds	First	GSF US Dollar Bond Fund
	5 Years Offshore Funds Fixed Income USD Sector out of 21 funds	First	GSF US Dollar Bond Fund
	5 Years Offshore Fund category - Larger Group	Runner-Up	Investec Asset Management
Benchmark Fund of the Year Awards	US Dollar Bond Funds - 1 Year	First	GSF US Dollar Bond Fund
	US Dollar Bond Funds - 3 Years	First	GSF US Dollar High Income Bond Fund
	US Dollar Bond Funds - 5 Years	First	GSF US Dollar Bond Fund
	Global Natural Resources Sector - 5 Years	First	GSF Global Energy Fund
	Fund Group of the Year	Third	Investec Asset Management
2002 - South Africa
Raging Bull Awards - SA	Best Consistent Performer over 3 Years Domestic Equity - General Funds	First	Investec Index Fund
	Best Consistent Performer over 3 Years Domestic Fixed Interest - Bond Funds	First	Investec Gilt Fund
	Top Performing Fund (in it's category) over 3 Years Domestic Asset Allocation - Flexible Funds	First	Investec Opportunity Fund
	Top Performing Fund (in it's category) over 3 Years Domestic Equity - Value Funds	First	Investec Value Fund
	Top Performing Fund on a Sortino risk-adjusted basis over 3 Years Domestic Asset Allocation - Flexible Funds	First	Investec Opportunity Fund
	Top Performing Fund on a Sortino risk-adjusted basis over 3 Years Domestic Equity - Value Funds	First	Investec Value Fund
	Top Performance Overall (by a foreign collective investment scheme fund) on a Sortino Risk-adjusted basis - 3 Years	First	GSF USD Bond Fund
	Unit Trust Company of the Year	Third	Investec Asset Management
Standard & Poor's Unit Trust Awards - SA	1 Year Best in Sector	First	Investec Value Fund
	1 Year Best in Sector	First	Investec Commodity Fund
	3 Years Best in Sector	First	Investec Value Fund
	3 Years Best in Sector	First	Investec Opportunity Fund
	5 Years Best in Sector	First	Investec Growth Fund
	5 Years Best in Sector	First	Investec Commodity Fund
	Top Unit Trust in the Country	First	Investec Commodity Fund
	Most Improved Group	First	Investec Asset Management
	Best Larger Group over 1 Year	First	Investec Asset Management
	Best Group over 5 Years (2nd year running)	First	Investec Asset Management
2002 - Switzerland
Lipper Leader Fund Awards 2002 - Swiss Fund Awards	Lipper Leader Fund of the Year 2001 - Bond US Dollar - High Yield	First	GSF USD High Income Bond Fund
2002 - Asia
South China Morning Post - Fund Manager of the Year Awards	Fixed Income - US Dollar - 10 Years	First	GSF US Dollar Bond Fund
	Best Performing Fund Management Group - 10 Year Award	Second	Investec Asset Management
2001 - U.K.
Lipper Leader Awards - May 2001	Overall Fund Group of the Year 2001	First	Investec Asset Management
Lipper Leader Awards - May 2001	Onshore Funds - Overall Performance and Risk over 1 Year	First	Onshore Funds
Investment Week - Fund Manager of the Year Awards 2001	Investment Week's Highly Commended Award	Highly Commended	Hong Kong & China Trust
Standard & Poor's Investment Funds Performance Awards	1 Year UK Marketed Funds Survey	Second	Investec Asset Management
2001 - Offshore
Standard and Poor's Investment Funds Performance Awards	Internationally Marketed Funds Survey - Best Money Market Fund Manager	First	Investec Asset Management
	10 Year Internationally Marketed Funds Survey - Best Money Market Fund Manager Group Category	First	Investec Asset Management
	10 Year Internationally Marketed Funds Survey - Best Fixed Income Manager Group Category	Second	Investec Asset Management
International Investment Offshore Fund & Product Awards 2001	Best Fund Group	Highly Commended	Investec Asset Management
	Best Sector Fund	Highly Commended	Global Privatisation Fund
2001 - South Africa
Raging Bull Awards - SA	Best Consistent Performance - 3 Years	First	Growth Fund
	Top Performing Fund (in it's category) - over 3 Years	First	Opportunity Fund
	Top Performing Fund on a risk-adjusted basis (in it's category) - over 3 Years	First	Opportunity Fund
	Top Performing Fund (in it's category) - over 3 Years	First	Value Fund
	Top Performing Fund on a risk-adjusted basis (in it's category) - over 3 Years	First	Value Fund
	Top Performance Overall (by a foreign collective investment scheme) - 3 Years	First	GSF USD Bond Fund
PricewaterhouseCoopers Banking Survey	South African Banking Industry Award for Top Institutional Asset Management Company of the Year	First	Investec Asset Management
2001 - Switzerland
Standard & Poor's Investment Funds Performance Awards	10 Years Swiss Registered Funds Asset Allocation (neutral) International Sector	First	IAF Global Balanced Fund
2000 - Offshore
Standard & Poor's Investment Funds Performance Awards	10 Year Internationally Marketed Funds Survey (for overall consistent performance) - Best Money Market Manager Group	First	Investec Asset Management
	Overall Internationally Marketed Funds Survey (best overall consistent performance) - Best Money Market Manager Group Category	First	Investec Asset Management
	10 Year Internationally Marketed Funds Survey, Money Market International Managed Currency Sector out of 16 funds	First	GSF Emma Sterling Managed Fund
	10 year UK Marketed Funds Money Market GBP sector out of 20 funds	First	GSF Sterling Money Fund
	10 Year Internationally Marketed Funds Survey - Larger Group Category	Second	Investec Asset Management
International Money Marketing	Fixed Interest Manager of the Year	First	Investec Asset Management
Benchmark Fund of the Year Awards	Global Natural Resources Sector - 1 and 5 Year Award	First	GSF Global Energy Fund
Lipper	Top China Fund in the US over 5 Years	First	China Fund
	Top Offshore Fixed Income Fund over 1, 3 and 5 Years	First	Dollar High Yield Fund
	Offshore Fixed Income Funds over 1, 3 and 5 Years	7^th, 5^th, and 4^th	Dollar Bond Fund
2000 - South Africa
Raging Bull Awards	Plexus Unit Trust Management Company of the Year	First	Investec Asset Management
	Bond Fund : 3 Year Top Performing Fund on Risk Adjusted Basis	First	Investec Gilt Fund
	Bond Fund : 3 Year Top Performance in each Unit Trust Category	First	Investec Gilt Fund
PricewaterhouseCoopers Banking Survey	South African Banking Industry Award for Top Institutional Asset Management Company of the Year	First	Investec Asset Management
1999 - U.K.
Standard and Poor's Onshore Fund Awards 1999	Top Unit Trust Company for 1999	First	Investec Asset Management
Standard and Poor's Onshore Fund Awards 1999	10 Year Category for Larger Fund Groups offering its Funds Internationally	Second	Investec Asset Management
1999 - Offshore
International Money Marketing	Fixed Interest Manager of the Year	First	Investec Guinness Flight
Investment International Magazine - Offshore Fund Awards	Offshore Currency Fund Management Group of the Year	First	Investec Guinness Flight - EMMA USD Managed Fund
1999 - South Africa
PricewaterhouseCoopers Banking Survey	South African Banking Industry Award for Top Institutional Asset Management Company of the Year	First	Investec Guinness Flight
Raging Bull Awards	Mining and Resources Funds: 3 Year Top Performing Fund on Risk Adjusted Basis	First	Investec Commodity Fund
Raging Bull Awards	3 Year Top Performance in each Unit Trust Category	Third	Investec Commodity Fund
1998 - Offshore
International Money Marketing	Best Investment Company for Service on Administration	First	Investec Guinness Flight
International Money Marketing	Best Umbrella Funds	First	Investec Guinness Flight
1998 - South Africa
Raging Bull Awards	Index Fund: 3 Year Top Performance	First	Investec Index Fund
	Bond Fund : Best Consistent Performer over 3 Years	First	Investec Gilt Fund
	Index Fund : 3 Year Risk Adjusted Performance Award	First	Investec Index Fund
	Worldwide Funds : Overall Winner - 3 Year Best Performance Award	First	Investec World Wide Fund
	International Fund : 3 Year Risk Adjusted Performance Award	First	Investec World Wide Fund
1998 - Asia
Benchmark Fund of the Year Awards	Fixed Income Global High Yield Sector	First	G.Flight Global High Income Bond Fund
Benchmark Fund of the Year Awards	Fixed Income USD High Yield Sector	First	G.Flight IF USD High Yield Fund
1997 - South Africa
Raging Bull Awards	Bond Funds : 3 Year Consistency of Performance	First	Investec Gilt Fund

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