NAV on 2019/03/25
|NAV on 2019/03/22
|52 week high on 2019/03/19
|52 week low on 2018/03/28
|Total Expense Ratio on 2018/12/31
|Total Expense Ratio (performance fee) on 2018/12/31
Sanlam Collective Investments
Average of Shariah General Equity Funds with a 1 year track record
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Element Islamic Equity SCI Fund
The Element Islamic Equity Fund realised a total return of -4.4% for the quarter to the end March 2018, underperforming its benchmark (average of Shari’ah General Equity Funds with a 1-year track record) performance of -2.4% over the same period. This performance brings the rolling one year total performance of the Fund to 1.9% (net of fees) – an outperformance of its benchmark return of 1.1% over the same period.
The main contributor to the underperformance of the fund, for the quarter ended March 2018, was our exposure to the Healthcare sector, Precious Metals sector and the allocation to our Islamic Global Equity Fund. The Islamic Global Equity Fund’s performance was hindered by the Rand strengthening against the major currencies.
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.