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  •  Graviton Sanlam Collective Investments Low Equity Fund (A1)

0.64  /  0.05%


NAV on 2019/09/13
NAV on 2019/09/12 1336.19
52 week high on 2019/06/13 1359.04
52 week low on 2019/01/04 1251.53
Total Expense Ratio on 2019/06/30 1.57
Total Expense Ratio (performance fee) on 2019/06/30 0
NAV Incl Dividends
1 month change 0.92% 0.92%
3 month change -1.63% 0.51%
6 month change 1.45% 3.66%
1 year change 0.6% 5.45%
5 year change 2.19% 6.36%
10 year change 0% 0%
Price data is updated once a day.
  • Sectoral allocations
Basic Materials 12.15 1.24%
Bonds 91.47 9.31%
Consumer Goods 3.58 0.36%
Consumer Services 4.29 0.44%
Derivatives 3.28 0.33%
Financials 12.47 1.27%
Fixed Interest 31.14 3.17%
General Equity 49.06 4.99%
Gilts 25.81 2.63%
Health Care 1.02 0.10%
Industrials 2.23 0.23%
Liquid Assets 7.84 0.80%
Managed 388.98 39.58%
Money Market 62.19 6.33%
Other Sec 0.04 0.00%
Real Estate 43.04 4.38%
Spec Equity 40.84 4.16%
Technology 14.07 1.43%
Telecommunications 2.44 0.25%
Offshore 186.76 19.00%
  • Top five holdings
U-SMPUINP 141.73 14.42%
U-SMMILOQ 99.09 10.08%
U-SSWPROT 98.40 10.01%
O-GGGEQT 97.21 9.89%
U-SBNDINX 91.47 9.31%
  • Performance against peers
  • Fund data  
Management company:
Sanlam Collective Investments
Formation date:
ISIN code:
Short name:
South African--Multi Asset--Low Equity
Category average SA Multi Asset Low Equity
Contact details

No email address listed.

No website listed.


  • Fund management  
Rafiq Taylor

  • Fund manager's comment

Graviton SCI Low Equity Fund - Jun 19

2019/09/03 00:00:00
The World Bank reduced its growth forecasts in June due to the trade conflict between the US and China, given that between them the two countries account for more than a third of global economic activity. Global growth is now forecast at just 2.6% for 2019 from 2.9% previously forecast. Global trade is slowing, and countries directly exposed to the trade war are showing a marked deceleration. While a handshake deal between the US and China took some heat out of the trade war, existing tariffs look set to stay in place. The Fed has turned sharply dovish as a result of sluggishly low inflation, threats to the growth outlook due to weaker global trade and geopolitical tensions from the trade war. The US bond market continues to price in aggressive interest rate cuts over the next 18 months and was composed by the Fed's decision not to cut in June. Locally, South Africa's GDP posted its biggest quarterly contraction since 2009 in the first quarter of this year, printing a -3.2% quarter-on-quarter versus 1.4% growth in the previous quarter. The rand relative to the dollar appreciated some 3.24% in June as risk sentiment improved amid expectations of looser monetary policy in the US and the Eurozone.
The local equity market followed global markets higher, and the MSCI World index delivered some 3.25%. Furthermore, the MSCI EM index marginally underperformed its developed market counterpart, delivering some 2.94%. Underscoring yields moving lower in the month is a sense of cautiousness following the dovish pivot by a number of central banks in recent times. As such, the JP Morgan Global Aggregate index lagged risk assets and delivered -1.16% as the currency strengthened. Given the riskon month, emerging market bonds fared better than their developed market counterparts, delivering some 0.80%. The local equity market followed global markets higher, and the ALSI delivered 4.78%. The strong rally in the local market was largely driven by the Resi-20 index delivering some 10.28%. The ALBI lagged its risky counterparts and delivered 2.27%, with the 7-12 year area of the yield curve rallying some 2.70%. Furthermore, inflation-linked bonds underperformed their fixed coupon counterparts, delivering 0.13%. Given the risk-on environment the local property market delivered some 2.20%. Local cash delivered 0.59% for the month of June.
  • Fund focus and objective  
The portfolio will invest in a combination of equities, bonds, money market instruments, listed property as well as international equities and fixed interest investments. The portfolio will be broadly diversified across asset classes. Active asset allocation and securities selection strategies appropriate to the needs of cautious investors will be followed. Net exposure to equities both in South Africa and foreign markets will not exceed 40%. This portfolio will be managed in accordance with regulations governing pension funds. The investment manager will also be allowed to invest in financial instruments (derivatives) as allowed by the Act from time to time in order to achieve its investment objective.Apart from the above, the portfolio may also invest in participatory interests of 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 the trustee of a sufficient standard to provide for investor protection which is at least equivalent to that in South Africa.The Manager shall be permitted to invest on behalf of the Graviton Sanlam Collective Investments Low Equity Fund in offshore investments as legislation permits.
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