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  •  Graviton Sanlam Collective Investments Flexible Income Fund (A1)
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0.6  /  0.06%

1058.56

NAV on 2019/11/19
NAV on 2019/11/18 1057.96
52 week high on 2019/09/30 1067.03
52 week low on 2019/01/02 1038.13
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 0.46% 0.46%
3 month change -0.03% 1.75%
6 month change 0.45% 3.98%
1 year change 1.23% 8.58%
5 year change 0.82% 8.04%
10 year change 0% 0%
Price data is updated once a day.
  • Sectoral allocations
Derivatives 0.09 0.01%
Financials 15.37 2.24%
Fixed Interest 114.48 16.68%
Gilts 229.79 33.47%
Liquid Assets 32.44 4.73%
Money Market 259.87 37.86%
Other Sec 8.02 1.17%
Real Estate 3.39 0.49%
Offshore 23.03 3.35%
  • Top five holdings
U-SMIPICO 114.48 16.68%
MONEYMARK 72.62 10.58%
MM-14MONTH 20.49 2.98%
MM-12MONTH 12.06 1.76%
MM-02MONTH 11.38 1.66%
  • Performance against peers
  • Fund data  
Management company:
Formation date:
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Short name:
Risk:
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Benchmark:
Contact details

Email
No email address listed.

Website
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Telephone
021-947-9111



  • Fund manager's comment

Graviton SCI Flexible Income Fund - Sep 19

2019/10/25 00:00:00
September was a risk on-month globally. This was supported by the US Federal Reserve cutting rates by 25 basis points and the European Central Bank (ECB) reducing rates further into negative territory to -0.5% from -0.4%. The ECB added additional stimulus into the European economy by implementing indefinite quantitative easing. From November it will buy €20 billion worth of bonds on a monthly basis. Although the Fed did cut rates, there remained divergent views as to the appropriate policy path. On the back of monetary policy easing the MSCI World Index delivered 1.94% (in US Dollars) and the MSCI Emerging Markets (EM) Index delivered 1.55% (in Dollars). Due to lower global bond yields, the search for yield continued, with emerging market bonds as measured by the JPMorgan EM Bond Index delivering 0.18% (in Dollars), while developed market bonds lost 1.30% (in Dollars). Global property continues to benefit from the low global interest rates, delivering 2.46% (in Dollars). Locally, the South African economy managed to escape a technical recession after GDP grew at 3.1%. This was driven by growth in the primary sector and mining, which increased 9.7% and 14.4% respectively. Although GDP was positive, the headwinds facing the South African economy were confirmed when the RMB/BER Business Confidence Index fell to a 20-year low. The South African Chamber of Commerce and Industry declined to 89.1 – the lowest since April 1985. On the back of this, South African equities had a muted month, delivering 0.19% (in Rands). The Top 40 was flat, while small caps delivered a stellar 2.21% (in Rands). Local bonds delivered 0.51% (in Rands), underperforming cash slightly, which delivered 0.57% (in Rands). Local property delivered 0.3% (in Rands) and inflation-linked bonds delivered 0.39% (in Rands).
  • 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.
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