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  •  Element Islamic Balanced Sanlam Collective Investments Fund (A)
  •   PRINT PAGE

0.73  /  0.45%

163.28

NAV on 2019/09/16
NAV on 2019/09/13 162.55
52 week high on 2019/03/19 164.94
52 week low on 2018/11/27 152.97
Total Expense Ratio on 2019/06/30 2.05
Total Expense Ratio (performance fee) on 2019/06/30 0
NAV Incl Dividends
1 month change 3.22% 3.22%
3 month change -0.22% 1.58%
6 month change -0.44% 1.36%
1 year change 3.11% 6.05%
5 year change 4.46% 5.24%
10 year change 0% 0%
Price data is updated once a day.
  • Sectoral allocations
Basic Materials 16.90 23.47%
Consumer Goods 3.12 4.33%
Financials 2.12 2.95%
Health Care 2.58 3.58%
Industrials 2.49 3.45%
Liquid Assets 1.95 2.71%
Money Market 24.04 33.38%
Spec Equity 13.95 19.37%
Specialist Securities 2.39 3.32%
Telecommunications 2.41 3.35%
Offshore 0.06 0.09%
  • Top five holdings
U-ELEISGL 13.95 19.37%
MM-02MONTH 7.66 10.63%
MM-03MONTH 5.15 7.15%
MM-04MONTH 4.66 6.47%
MM-01MONTH 4.48 6.21%
  • Performance against peers
  • Fund data  
Management company:
Sanlam Collective Investments
Formation date:
2010/04/28
ISIN code:
ZAE000145009
Short name:
U-ELISBAL
Risk:
Unknown
Sector:
South African--Multi Asset--High Equity
Benchmark:
Average total return of the South African Multi Asset High Equity category
Contact details

Email
No email address listed.

Website
No website listed.

Telephone
021-947-9111

  • Fund management  
Shamier Khan


  • Fund manager's comment

Element Islamic Balanced SCI Comment Jun 19

2019/09/03 00:00:00
Quarterly Commentary
The Islamic Balanced Fund realised a total return of 0.2% for the quarter to the end of June 2019, underperforming its benchmark’s (average of Shari’ah General Balanced Funds with a 1-year track) return of 0.6%. This brings the one year performance of the Fund to 7.7% (net of fees) and annualised over the last three years to 8.6% (note that all returns are net of fees).
The main contributor to the underperformance of the fund, for the quarter ended June 2019, was our exposure to both the soft commodity stocks such as Rainbow and Tongaat as well as our exposure to energy-related stocks such as Sasol and Glencore.
The fund’s absolute returns were aided by its allocation to sukuks. Sukuks are shariah compliant income instruments.
  • Fund focus and objective  
The Element Islamic Balanced Fund is a domestic prudential variable equity fund that will provide investors with Shari'ah compliant returns and the opportunity to achieve long-term wealth creation within a moderate level of risk. The fund aims to preserve capital with a reasonable level of income that is halaal (permissible) for investors and will comply with the prudential investment requirements that govern the management of South African retirement funds i.e. Regulation 28 of the Pension Funds Act (Act 24 of 1956). Element Investment Managers signed the United Nations Principles for Responsible Investment (PRI) in May 2006. In signing the PRI, we have committed to adopt and implement them where consistent with our fiduciary responsibilities. We believe that this improves our ability to meet commitments to investors as well as better align our investment activities with the broader interests of society. Element Investment Managers is the first South African investment manager to sign the PRI.
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