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  •  First Avenue Sanlam Collective Investments Equity Fund (B1)

-0.1  /  -0.01%


NAV on 2019/11/14
NAV on 2019/11/13 1486.58
52 week high on 2019/05/03 1636.9
52 week low on 2019/08/27 1404.81
Total Expense Ratio on 2019/09/30 1.45
Total Expense Ratio (performance fee) on 2019/09/30 0
NAV Incl Dividends
1 month change 0.28% 0.28%
3 month change 5.21% 5.21%
6 month change -5.46% -4.49%
1 year change 1.69% 3.61%
5 year change -2.47% -0.97%
10 year change 0% 0%
Price data is updated once a day.
  • Sectoral allocations
Basic Materials 13.30 2.02%
Consumer Goods 94.02 14.26%
Consumer Services 108.93 16.52%
Financials 198.83 30.15%
Health Care 23.46 3.56%
Industrials 25.50 3.87%
Liquid Assets 19.48 2.95%
Technology 146.43 22.20%
Telecommunications 29.56 4.48%
  • Top five holdings
 NASPERS-N 98.78 14.98%
 STANBANK 50.51 7.66%
 PROSUS 47.65 7.22%
 FIRSTRAND 45.56 6.91%
 AB INBEV 34.74 5.27%
  • Performance against peers
  • Fund data  
Management company:
Sanlam Collective Investments
Formation date:
ISIN code:
Short name:
South African--Equity--General
FTSE/JSE Shareholder Weighted All Share Index (SWIX)
Contact details

No email address listed.

No website listed.


  • Fund management  
Hlelo Giyose

  • Fund manager's comment

First Avenue SCI Equity Fund - Sep 19

2019/10/25 00:00:00
Our temperament to continue to focus on high quality, no matter how much it is unloved is starting to pay off. Granted, it has been a long time coming but Q3 had strong echoes of Q2. Investor search for opportunity and yield took them to sold off high quality names in our portfolio. Most of these are domestics in both financials and industrials (FINDI). The valuation opportunity away from RESI toward domestics is catalysed by efforts to arrest and reverse systemic risk. State Owned Enterprises, primarily Eskom, has caused the market realistic fear of a downgrade by Moody’s. The government, led by Treasury, is making efforts to immunize the economy from Eskom’s debt. More positively, the governing party has agreed initiatives to restructure and introduce equity partners in the most vulnerable SOEs. We remain overweight companies that would benefit from such efforts, namely, banks, retailers, insurers, and diversified industrials. More notably, we are 8% overweight banks. This is where risk and opportunity reside. Our biggest bet in the banking sector is First Rank.
  • Fund focus and objective  
The fund aims to deliver long-term capital and income growth in excess of the market index while offering a higher degree of capital protection to investors by limiting its universe to listed equities of low fundamental risk. Aiming for high returns with lower fundamental risk - We invest in high quality companies as this strategy has been shown to outperform the market most consistently and with low risk over long periods of time. The idea is to reduce the probability of permanently impairing shareholder capital by desisting from taking risky bets. Our franchise value lies in differentiated research into the industry dynamics that drive company profitability. The portfolio may invest in participatory interests of underlying unit trust portfolios. The portfolio may also invest in collective investment schemes in property as well as any other securities that the Act may allow from time to time. When investing in derivatives, the manager will adhere to prevailing derivative regulations.

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