NAV on 2021/02/26
|NAV on 2021/02/25
|52 week high on 2020/03/05
|52 week low on 2020/10/30
|Total Expense Ratio on 2020/09/30
|Total Expense Ratio (performance fee) on 2020/09/30
Sanlam Collective Investments
South African--Real Estate--General
CPI + 4% net of fees
No email address listed.
No website listed.
Catalyst Fund Managers was established in 2001 as a specialist in managing real estate investments. Real estate investment, both South African and global, is our speciality and our passion. It’s what energises us and keeps us motivated. The business was borne out of a firm belief in the distinctive benefits of including this asset class in an investment portfolio. In addition to our specialist expertise and experience, we manage our clients’ money like our own, always considering that there are individual goals, specific needs and hopes behind every investment.
Catalyst Flexible Property fund - comment - Dec 19
The SA Listed Property Index (SAPY) and the All Property Index (ALPI) recorded total returns of 0.30% and 1.47% respectively for the month ended September 2019, with the historic yield of the SAPY ending the month at 9.77%. The yield-to-maturity (YTM) on the Long-Term South African government bond (RLRS) de-rated by 9bps, ending the month at 8.90% (8.81% - 30 August 2019). On a YTD basis, SA Bonds were the outperformers with returns of 8.44%, followed by SA Equities (7.08%), SA Cash (5.45%) and SA Property (1.34%). The SA Listed Property (SAPY) and the All Property (ALPI) Indices continues to underperform other asset classes on a rolling 12-month period.
Globally, the FTSE EPRA/NAREIT Developed Net Rental Index, recorded a net total USD return of 2.48% in September. The best performing listed real estate market was the UK, which recorded a total USD return of 8.32% for the month. Australia recorded the lowest total USD return of -3.17%. Year to date, the FTSE EPRA/NAREIT Developed Net Rental Index has recorded a net total USD return of 21.20%. The best performing listed real estate market for the nine months was the US, with a net total USD return of 25.55%. Hong Kong recorded the lowest total USD return of 3.44% for the nine months.
The Fund’s offshore allocation is approximately 48.6% on a see-through basis. Overall, global real estate fundamentals remain healthy, mainly due to manageable supply levels relative to demand. Locally, despite the weak outlook for local property fundamentals & downward revisions to earnings growth over the medium term, should dividends remain intact and growth return over the medium to long term, SA listed real estate remains attractively priced. On average, SA centric companies are trading at forward yields above the long-term South African Government Bond proxy (RLRS).
The fund is an actively managed fund, which has a total return objective and seeks to offer investors a return in excess of CPI + 4% over the long term. The fund will have a flexible mandate allowing investment in both local listed property securities, global listed property securities and local and offshore cash.