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-188.79  /  -0.58%


NAV on 2021/07/26
NAV on 2021/07/23 32686.0911
52 week high on 2021/03/02 33637.7409
52 week low on 2020/09/22 28246.8539
Total Expense Ratio on 2021/03/31 1.41
Total Expense Ratio (performance fee) on 2021/03/31 0
Incl Dividends
1 month change 1.09% 2.08%
3 month change -1.54% -0.58%
6 month change -0.47% 0.5%
1 year change 14.3% 15.96%
5 year change 3.69% 4.78%
10 year change 8.64% 10.07%
Price data is updated once a day.
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  • Sectoral allocations
Basic Materials 565.66 14.37%
Consumer Discretionary 370.02 9.40%
Derivatives 0.24 0.01%
Energy 28.14 0.71%
Financials 468.06 11.89%
Fixed Interest 0.00 0.00%
Health Care 67.77 1.72%
Industrials 22.61 0.57%
Liquid Assets 35.97 0.91%
Real Estate 64.73 1.64%
Technology 649.02 16.49%
Telecommunications 145.16 3.69%
Offshore 1518.53 38.58%
  • Top five holdings
STAHIGHALGLB 868.21 22.06%
 NASPERS-N 583.78 14.83%
O-SBSEASI 505.32 12.84%
 MTN GROUP 114.05 2.9%
 IMPLATS 105.24 2.67%
  • Performance against peers
  • Fund data  
Management company:
STANLIB Collective Investments (RF) (Pty) Limited
Formation date:
ISIN code:
Short name:
South African--Equity--General
FTSE/JSE Shareholders Weighted Index (SWIX)



  • Fund management  
Theo Botha
From 1989 to December 1998, Theo worked for UAL/NIB Asset Management and then joined Liberty Asset Management in January 1999 as a research sector head. His expertise covers the luxury goods, beverages, tobacco, food retail and food manufacturing subsectors.
Herman van Velze
With a mining engineering background, Herman started his asset management career in 1993 as a mining analyst. Winner of several awards in 2007, he has successfully managed the STANLIB Balanced Fund since 2005 and is currently Head of Balanced Funds.

  • Fund manager's comment

STANLIB Equity Fund - Dec 19

2020/03/02 00:00:00
Fund review
The STANLIB Equity Fund delivered a -1.4% return for Q3 2019 compared with a benchmark (FTSE/JSE SWIX All Share Index) return of -4.3%. The one-year return for the fund is -3.6% compared with the benchmark return of 0.2%.
Exposure to global and emerging market equities contributed positively to the performance of the fund. SA equity exposure detracted from performance.
Contributing to relative performance of the SA component of the fund were our overweight exposures to Northam, ABInbev, and Capitec and underweight positions in Anglo American and ABSA. Sasol, Discovery, Sappi, and underweight positions in Platinum and Gold shares detracted from performance. Africa also contributed positively to performance, with Commercial International Bank (Egypt) the best-performing share. Our offshore holdings in Adidas, Mastercard and Facebook contributed to performance. Detractors were no holdings in Apple and overweight Centene and Halliburton.
During the quarter we exited our positions in British American Tobacco and Rio Tinto and introduced Anglo American and Motus as new holdings to the fund. We reduced our holdings in Discovery, African Rainbow Minerals and Shoprite while adding to Capitec and Multichoice. We also increased our position in Egyptian equities and exited our holdings in Tanzania.
Market overview
The FTSE/JSE SWIX All Share Index’s total return for Q3 2019 was -4.3%, continuing to underperform SA bonds and SA cash over the short term. SA Industrials shed 2.5% in Q3, while SA Financials and SA Resources lost 6.8% and 6.4% respectively.
Over the one-year period to 30 September 2019, the FTSE/JSE SWIX All Share Index delivered 0.2%, with Resources remaining the best performing sector (+7.8%) for the year. Financials remain the laggard at -4.2%.
Global equities delivered a weak performance during the quarter, with the MSCI World Index up 0.7% (in US dollar terms). The MSCI Emerging Markets Index lost 4.1% while the MSCI South Africa declined by 1.2% during the quarter.
Looking ahead
Trade deals, slowing global growth and fears of a US recession continue to dominate news flow and drive investor sentiment. Central banks continue to reduce interest rates and take other measures to support global growth.
SA and Emerging Market equities have been supported by the Fed’s dovish stance (this should limit further dollar strength) and selective stimulus by Chinese policymakers, while uncertainty around US-China trade talks has swayed market sentiment.
In SA the SARB reacted to slow growth and low levels of business and consumer confidence by reducing interest rates by 0.25% during Q3. We expect further easing in Q4. Lower interest rates and positive developments such as the restructuring and refinancing of Eskom together with further fiscal policy announcements should be mildly positive for growth in the medium term.
The valuation case for equities remains compelling, with metrics below their respective historical means. This asset class offers investors an attractive opportunity into quality businesses supported by structural growth trends.
  • Fund focus and objective  
The STANLIB Equity Fund's objective is the steady growth of income and capital, a reasonable level of current income and the maximum stability for capital invested. The securities to be included will consist of securities, non-equity securities and participatory interests of collective investment schemes in securities. This portfolio may have a maximum of 15% direct and/or indirect foreign exposure.

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