MONITOR THIS FUND
Become an Insider Gold member to monitor your funds.
  •  GraySwan Sanlam Collective Investments Aggressive FoF (A)
  •   PRINT PAGE

10.43  /  0.97%

1070.35

NAV on 2019/09/16
NAV on 2019/09/13 1059.92
52 week high on 2019/05/03 1109.24
52 week low on 2019/01/02 991.98
Total Expense Ratio on 2019/06/30 1.45
Total Expense Ratio (performance fee) on 2019/06/30 0
NAV Incl Dividends
1 month change 2.34% 2.34%
3 month change -3.21% -1.66%
6 month change -0.03% 1.58%
1 year change -1.3% 1.58%
5 year change 0% 0%
10 year change 0% 0%
Price data is updated once a day.
  • Sectoral allocations
Derivatives 0.59 0.49%
Fixed Interest 18.35 15.25%
General Equity 51.50 42.78%
Liquid Assets 2.59 2.15%
Real Estate 7.73 6.42%
Spec Equity 39.62 32.91%
  • Top five holdings
U-SXTOPP4 14.55 12.09%
U-PRUCOVA 12.52 10.4%
U-BCIGENE 12.22 10.15%
U-OMEMESG 10.93 9.08%
U-NEDENTR 10.75 8.93%
  • Performance against peers
  • Fund data  
Management company:
Sanlam Collective Investments
Formation date:
2017/07/03
ISIN code:
ZAE000245692
Short name:
U-GSWANAG
Risk:
Unknown
Sector:
South African--Multi Asset--High Equity
Benchmark:
South African Multi Asset High Equity Category
Contact details

Email
No email address listed.

Website
No website listed.

Telephone
021-947-9111

  • Fund management  
Duncan Theron


  • Fund manager's comment

GraySwan SCI Aggressive Fund of Funds - Jun 19

2019/09/03 00:00:00
During May there was weakness in risk assets brought on by the US-China trade dispute, but due to the strong performance in June we finished the quarter positively and continued the good run for the year so far. The US Federal Reserve held rates steady in June at a target range of 2.25-2.5%. Fed Chair Jerome Powell indicated that the case for accommodative policy increased as the global economy slowed. Traders are pricing in a 100% chance of at least a 0.25% cut in July. Powell also emphasized the Fed’s independence even as President Trump reportedly considered demoting the Chair for the Fed’s inaction earlier this year. MSCI US Index returned 1.3% for the quarter in Rand terms
Other International equities underperformed the US, even as the US Dollar weakened. Developed markets in Rand terms, as measured by the MSCI EAFE Index, rose 0.9% for the quarter, driven by Germany 4.2%, France 3.6%, and Switzerland 5.5%. The UK disappointed with -1.8% due to uncertainty surrounding Brexit and Prime Minister May’s announced resignation.
Emerging market shares had a volatile second quarter and is still lagging behind developed markets. For the year ending in June 2019 the MSCI EM Index underperformed the MSCI World Index (developed markets) by 6.3%.
US-China trade tensions were rekindled in May as talks unexpectedly broke down and both sides implemented new tariffs. However, hopes for a resumption of talks post the G20 summit in June and rising expectations that the US Fed will cut interest rates, proved supportive later in the period. Emerging markets, as measured by the MSCI EM Index in Rand terms, fell 2.1% for the quarter. China, the best performer last quarter, fell 6.6% on slowing data and trade tensions. In 2019, the standout performer has been Russia, with a 13.7% rally in Q2, a 29.2% rise for the year. A YTD rebound in oil coupled with a lower likelihood of US sanctions drove the emerging market economy’s stock market and currency soaring.
The FTSE/JSE ALSI rose 3.9% in the quarter bringing it to 12.2% for the year. The financials sector gained 5.4%, while the industrial sector gain 4.0%. In June, SA equity markets followed global markets higher and ended the month 4.8% up. Resources were the largest contributor to returns in the month. The Resources sector soared 10.2% in the month on higher gold prices. The dollar price of gold increased by 7.9% in the month, responding to investors seeking protection against rising uncertainty. The dollar price of platinum picked up 2.5% in the same period.
The SA 10-year government bond yield increased by 30 basis points in June and ended the month at 8.7%. SA Fixed Rate Bonds (ALBI) lifted 2.2% in the month, while the SA Inflation Bonds (ILBI) underperformed with -0.1%. Meanwhile, the SA Listed Property increased by 2.2% in June bringing it to 6.0% for the year.
  • Fund focus and objective  
The portfolio will consist of a mix of collective investment scheme portfolios investing in equity, bond and property markets and money market instruments.
Investments to be included in the portfolios will, apart from assets in liquid form, consist solely of participatory interests in portfolios of collective investment schemes registered in the Republic of South Africa or of participatory interest in collective investment schemes or other similar schemes operated in territories with a regulatory environment which is to the satisfaction of the manager and trustee of a sufficient standard to provide investor protection at least equivalent to that in South Africa. The Manager shall be permitted to invest on behalf of the three portfolios in offshore investments as legislation permits.
The portfolios will also be allowed to invest in listed and unlisted financial instruments (derivatives) as allowed by the Act from time to time.
Insider GOLD
ONLY R63pm

Moneyweb's premium subscription is a membership service which will give you access to a number of tools to take charge of your investments.
Or choose a yearly subscription at R630pa - SAVE R126

Get instant access to all our tools and content. Monthly subscription can be suspended at any time.

Podcasts

SHOP NEWSLETTERS TRENDING CPD HUB

Follow us:

Search Articles:Advanced Search
Click a Company: