•  Element Specialist Income Sanlam Collective Investments Fund (A)

-0.02  /  -0.02%

87.98

NAV on 2020/08/13
NAV on 2020/08/12 88
52 week high on 2019/09/30 95.93
52 week low on 2020/04/02 86.19
Total Expense Ratio on 2020/06/30 0.95
Total Expense Ratio (performance fee) on 2020/06/30 0
NAV
Incl Dividends
1 month change 0.93% 0.93%
3 month change -0.01% 1.39%
6 month change -6.5% -3.82%
1 year change -7.24% -1.01%
5 year change -1.48% 6.07%
10 year change 0% 0%
Price data is updated once a day.
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  • Sectoral allocations
Financials 1.46 3.08%
Gilts 36.19 76.71%
Liquid Assets 7.40 15.69%
Money Market 2.13 4.51%
Offshore 0.00 0.00%
  • Top five holdings
MM-04MONTH 2.13 4.51%
 GROWPNT 0.82 1.73%
 HOSP-B 0.64 1.35%
  • Performance against peers
  • Fund data  
Management company:
Sanlam Collective Investments
Formation date:
2013/12/20
ISIN code:
ZAE000185682
Short name:
U-ELESPEC
Risk:
Unknown
Sector:
South African--Multi Asset--Income
Benchmark:
110% STeFI Composite
Email
No email address listed.

Website
No website listed.

Telephone
021-947-9111

  • Fund management  
Terence Craig
Terence joined Element Investment Managers in April 2001 and was appointed as a director and chief investment officer. He has worked in financial services since 1991. Prior to joining Element Investment Managers, Terence qualified as a chartered accountant after completing his articles with Ernst & Young and then worked at Allan Gray Ltd as an equity analyst and portfolio manager. In 1998 he became a director of Taita, a private equity house. At UCT he was awarded: Standard Bank University Scholarship, UCT Entrance Merit Scholarship, was on the Dean's Merit List in 1988 and was awarded the class medal for Business Finance (his Business Science special field) and the class medal for Applied Business Statistics II. Terence has been responsible for the investment process and investment team since joining Element Investment Managers over five years ago.
Jeleze Hattingh
Jeleze joined Element Investment Managers in 2010 as an investment analyst. Jeleze is part of the Fixed Income and Asset Allocation teams, and she focusses predominantly on fixed income analysis and the applicable trading of related fixed income instruments. Her responsibilities further include analysis of the property sector and technical indicators. Jeleze started her career at ABSA with a focus on operational risk and strategic measures to comply with Basel II regulations. She was then employed by Standard Bank (SCMB), working on market risk methodologies and systems. She moved to London in 2005, where she was part of the Strategic Change Management team at Credit Suisse, focusing on projects that involved global integrated teams facilitating the development and implementation of a new market risk system. She ended her London journey as part of Deloitte Consultancy, engaging in various management projects and leading functional implementation teams. Jeleze returned to South Africa in 2008 and joined Allan Gray in Cape Town as the Fixed Interest Trader.
Andrew Bishop


  • Fund manager's comment

Element Specialist Income SCI Fund - Dec 19

2020/02/26 00:00:00
The Element Specialist Income SCI Fund (“Fund”) realised a total return of +1.8% for the quarter to the end December 2019, marginally below its benchmark (110% STEFI) return of +1.9% over the quarter. The December 2019 quarterly performance brings the rolling one-year total performance of the Fund to +6.3% (below the benchmark’s performance of +8.0%) and annualized total return over the last rolling three years to +6.4% p.a. (note that all returns are net of/after fees).
Preference Shares and Bonds outperformed Cash (STeFI) over the past 12 months with performances of +18.6% and +10.3% respectively. Inflation Linked Bonds and Property underperformed with returns of +2.9% and +1.9%, respectively. Inflation Linked Bonds underperformed as inflation remained lower than expected at 3.6% (November 2019) and property shares continued to underperform owing to slow economic growth, negative rental reversions, higher vacancies and weak balance sheets, in general, across the sector.
The Fund underperformed over the year, largely owing to its exposure to property shares including Delta Property Fund and Hospitality Property Fund. Delta struggled with high debt levels and its inability to renew long-term government rental agreements. Hospitality struggled owing to lower occupancies due to a weak local economy and water restrictions in Cape Town during previous periods. The Fund has sold out of its position in Delta.
  • Fund focus and objective  
The objective of this portfolio is to provide investors with actively managed exposure to income generating investments that aim to deliver enhanced money market returns over the long term whilst minimising downside risk. The manager aims to do this by investing in a spread of both domestic and international equity securities and non-equity securities listed on exchanges that are full members of the World Federation of Exchanges. The portfolio will be subject to the Prudential Guidelines for South African retirement funds being Regulation 28 of the Pension Funds Act or such other legislation published from time to time.
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