NAV on 2019/09/16
|NAV on 2019/09/13
|52 week high on 2019/03/19
|52 week low on 2018/11/27
|Total Expense Ratio on 2019/06/30
|Total Expense Ratio (performance fee) on 2019/06/30
Sanlam Collective Investments
Average of Shariah General Equity Funds with a 1 year track record
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Element Islamic Equity SCI Fund - Jun 19
The Element Islamic Equity Fund realised a total return of 0.5% for the quarter to the end June 2019, underperforming its benchmark (average of Shari’ah General Equity Funds with a 1-year track record) performance of 0.9% over the same period. This performance brings the rolling one year total performance of the Fund to 8.0% (net of fees) and annualised over the last three years to 8.0% (note that all returns are net of fees).
The main contributor to the underperformance of the fund, for the quarter ended June 2019, was our exposure to both the soft commodity stocks such as Rainbow and Tongaat as well as our exposure to energy-related stocks such as Sasol and Glencore.
The Element Islamic Equity Fund is an actively managed, domestic general equity fund that aims to provide Shari'ah compliant returns. The fund also uses its presence to promote awareness of corporate responsibility and performance measurements, including environmental management, social responsibility, economic empowerment and corporate governance. This is achieved through constructive engagement with the management of the companies in which the fund is invested.