MONITOR THIS FUND
Become an Insider Gold member to monitor your funds.
  •  Graviton Sanlam Collective Investments Flexible Income Fund (A1)
  •   PRINT PAGE

0.04  /  0%

1063.43

NAV on 2019/09/13
NAV on 2019/09/12 1063.39
52 week high on 2019/09/13 1063.43
52 week low on 2018/10/02 1036.55
Total Expense Ratio on 2019/06/30 1.16
Total Expense Ratio (performance fee) on 2019/06/30 0
NAV Incl Dividends
1 month change 0.61% 0.61%
3 month change 0.24% 1.95%
6 month change 0.87% 4.45%
1 year change 0.8% 8.29%
5 year change 0.89% 8.05%
10 year change 0% 0%
Price data is updated once a day.
  • Sectoral allocations
Derivatives 0.20 0.03%
Financials 15.94 2.66%
Fixed Interest 101.23 16.91%
Gilts 214.87 35.89%
Liquid Assets 10.03 1.67%
Money Market 216.10 36.10%
Other Sec 7.34 1.23%
Real Estate 2.90 0.48%
Offshore 30.05 5.02%
  • Top five holdings
U-SMIPICO 101.23 16.91%
MONEYMARK 60.08 10.04%
MM-17MONTH 12.40 2.07%
MM-34MONTH 11.06 1.85%
MM-07MONTH 10.21 1.71%
  • Performance against peers
  • Fund data  
Management company:
Formation date:
ISIN code:
Short name:
Risk:
Sector:
Benchmark:
Contact details

Email
No email address listed.

Website
No website listed.

Telephone
021-947-9111



  • Fund manager's comment

Graviton SCI Flexible Income 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 across the full spectrum of South African fixed income assets which include government bonds, inflation-linked bonds, corporate bonds, listed property, preference shares and money market instruments. 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. The exposure to ordinary equities will not exceed 5%.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 Flexible Income Fund in offshore investments as legislation permits.
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: