NAV on 2019/07/19
|NAV on 2019/07/18
|52 week high on 2019/04/25
|52 week low on 2018/11/27
|Total Expense Ratio on 2019/03/31
|Total Expense Ratio (performance fee) on 2019/03/31
Sanlam Collective Investments
FTSE/JSE All Share index
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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.
Element Earth Equity SCI Fund - Mar 19
The Element Earth Equity SCI Fund (“Fund”) realised a total return of +5.8% for the quarter to the end of March 2019, behind its benchmark’s (FTSE/JSE All Share Index: “ALSI”) return of +8% over the quarter.
The March 2019 quarterly performance brings the rolling one year total return of the Fund to +5.3% (ahead of the ALSI’s +5.0%) and annualised total return over the last rolling three years to +6.1% p.a. (note that all returns are net of/after fees).
The Fund’s underperformance over the quarter was largely due to our underweight position in Naspers (the ALSI’s largest constituent) and our overweight position in Afrox. Naspers rebounded due to the strong improvement in Tencent’s share price since its low point in October 2018. Tencent, a Chinese tech giant and Naspers’ most material listed investment, rallied +41% from its low in October 2018 to the end of March 2019, pulling the Naspers share price along with it.
The Element Earth Equity Fund is an actively managed, domestic general equity fund that aims to provide investors with the opportunity to achieve long-term capital appreciation with a moderate level of income. This is done by investing in a portfolio of equities listed on the JSE.
In addition, the fund uses its presence to promote awareness of corporate responsibility performance measurements, including environmental management, social responsibility, economic empowerment and corporate governance. This is achieved through constructive engagement with management of the companies in which the fund invests in.
The fund is suitable for individuals who are in wealth build-up phase or individuals and small retirement funds that wish to make a positive impact on the corporate landscape by investing in a fund that promotes good corporate citizenship.