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  •  Element Real Income Sanlam Collective Investments Fund (A)
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-0.61  /  -0.29%

207.84

NAV on 2020/02/25
NAV on 2020/02/24 208.45
52 week high on 2019/03/19 212.82
52 week low on 2019/08/16 205.37
Total Expense Ratio on 2019/09/30 1.65
Total Expense Ratio (performance fee) on 2019/09/30 0
NAV Incl Dividends
1 month change -0.35% -0.35%
3 month change -1.31% -0.17%
6 month change 0.78% 3.42%
1 year change -0.35% 4.63%
5 year change 0.85% 6.23%
10 year change 2.83% 7.7%
Price data is updated once a day.
  • Sectoral allocations
Financials 9.50 7.41%
Fixed Interest 8.26 6.45%
General Equity 23.11 18.04%
Gilts 48.22 37.64%
Liquid Assets 6.35 4.96%
Money Market 8.29 6.47%
Other Sec 8.18 6.38%
Spec Equity 16.19 12.64%
Offshore 0.02 0.01%
  • Top five holdings
U-FRAEQUI 23.11 18.04%
U-EGLBLEQ 16.19 12.64%
U-ELESPEC 8.26 6.45%
 INVESTEC-P 3.61 2.82%
 HOSP-B 2.81 2.19%
  • Performance against peers
  • Fund data  
Management company:
Sanlam Collective Investments
Formation date:
2002/10/07
ISIN code:
ZAE000077400
Short name:
U-FRARINC
Risk:
Low
Sector:
South African--Multi Asset--Low Equity
Benchmark:
CPI plus 3%
Contact details

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 Real Income SCI - Dec 19

2020/02/26 00:00:00
The Element Real Income SCI Fund (“Fund”) realised a total return of +1.9% for the quarter to the end December 2019, outperforming its benchmark (CPI+3%) return of +1.6% over this period. The December 2019 quarterly performance brings the rolling oneyear total performance of the Fund to +8.2% (above the benchmark’s performance of +7.2%) and annualized total return over the last rolling three years to +7.1% p.a. (note that all returns are net of/after fees). It should be noted that on a relative basis the Fund is rated in the top quartile of its peer category over the past rolling three years.
Equities (ALSI) outperformed Bonds (ALBI) and Cash (STeFI) over the past twelve months with a performance of +12.0% relative to the performances of Bonds and Cash of +10.3% and +7.3%, respectively. Equities reversed some its weaker longer-term performance over the past twelve months, but its three- and five-year performances continue to underperform that of Bonds.
Global Equities (MSCI World in ZAR) and Preference shares outperformed over the past twelve months with a return of +25% and +19% respectively. Global Equities continued to perform well with strong performances from global technology companies listed in the USA (e.g. Apple, Microsoft, Facebook, Amazon and Alphabet). Inflation Linked Bonds and Property Shares performed poorly with returns of +3% and +2%, 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 outperformed its benchmark over the past 12 months owing to its exposure to global equities, preference shares and bonds.
  • Fund focus and objective  
The Element Real Income Fund is an actively managed domestic fund that will provide investors with the opportunity to achieve moderate capital appreciation with a high level of income. The Element Real Income Fund aims to achieve the highest sustainable income payout that is possible without eroding the fund's inflation adjusted capital base. The Element Real Income Fund aims to grow this income and the underlying capital of the fund in line with inflation (CPI). The fund is actively managed and is able to invest in high yielding equities, bonds, fixed deposits, money market instruments, listed debentures, property unit trusts, listed property equities and other high yielding securities.
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