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6.76  /  0.84%

802.34

NAV on 2019/08/16
NAV on 2019/08/15 795.58
52 week high on 2018/08/28 965.79
52 week low on 2019/08/15 795.58
Total Expense Ratio on 2019/06/30 1.17
Total Expense Ratio (performance fee) on 2019/06/30 0
NAV Incl Dividends
1 month change -6.55% -6.55%
3 month change -7.52% -5.31%
6 month change -10.92% -7.93%
1 year change -15.96% -9.53%
5 year change 0% 0%
10 year change 0% 0%
Price data is updated once a day.
  • Sectoral allocations
Financials 1419.05 98.70%
Liquid Assets 18.72 1.30%
  • Top five holdings
 GROWPNT 207.85 14.46%
 REDEFINE 183.30 12.75%
 NEPIROCK 176.83 12.3%
 FORTRESSA 86.44 6.01%
 HYPROP 76.54 5.32%
  • Performance against peers
  • Fund data  
Management company:
H4 Collective Investments (RF) Pty Ltd.
Formation date:
2014/12/10
ISIN code:
ZAE000194601
Short name:
U-CSAPROP
Risk:
Unknown
Sector:
South African--Real Estate--General
Benchmark:
FTSE/JSE SA Listed Property Index
Contact details

Email
info@h4ci.co.za

Website
http://www.peregrine.co.za/

Telephone
021-670-9100

  • Fund management  
Mike van der Westhuizen
Harold Strydom


  • Fund manager's comment

Citadel SA Property H4 Comment - Sep 18

2018/12/12 00:00:00
The Citadel SA Property H4 Fund ('the fund') was down 0.8% during Q3-2018, ahead of the FTSE/JSE SA Listed Property Index ('SAPY') which fell 1%. The fund's relative performance was supported by underweight positions in Growthpoint and Greenbay, along with overweight positions in Grit, Delta and Fairvest. The largest detractors included underweight positions in NEPI Rockcastle and Equites, as well as overweight positions in Dipula, Safari and Spear REIT.
The third quarter of 2018 saw local markets struggle on the back of weak economic data; and news that South Africa had entered a technical recession. Ongoing political uncertainty, coupled with South Africa being in the general emerging market crossfire, dampened investor sentiment. The rise in unemployment has put additional pressure on the office sector, which currently has the highest vacancy levels at 11.1%. Retail companies also reported weak results during the quarter, as smaller retailers struggled to meet their lease obligations in the midst of a tough economic environment. The sizeable offshore exposure of the listed property sector cushioned some of the pain taken by the South African-facing companies; highlighting the importance of geographical diversification.
The fund continues to adhere to its policy.
  • Fund focus and objective  
The Citadel SA Property H4 Fund is a sector specific specialist portfolio that aims to maximise total return for investors by investing predominantly in JSE-listed real estate companies. The portfolio has a medium to long-term investment horizon.
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