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0.2  /  0.04%


NAV on 2020/02/25
NAV on 2020/02/24 546.2107
52 week high on 2019/04/23 595.7469
52 week low on 2019/10/03 532.2052
Total Expense Ratio on 2019/12/31 0.46
Total Expense Ratio (performance fee) on 2019/12/31 0
NAV Incl Dividends
1 month change -1.35% -1.35%
3 month change -2.66% -2.3%
6 month change 2.19% 3.86%
1 year change -1.74% 1.75%
5 year change 0.47% 3.49%
10 year change 6.84% 9.99%
Price data is updated once a day.
  • Sectoral allocations
Basic Materials 421.80 29.32%
Consumer Goods 162.83 11.32%
Consumer Services 95.80 6.66%
Derivatives 17.16 1.19%
Financials 287.39 19.98%
Fixed Interest 126.67 8.80%
Health Care 9.70 0.67%
Industrials 14.71 1.02%
Liquid Assets 9.64 0.67%
Technology 246.71 17.15%
Telecommunications 46.22 3.21%
  • Top five holdings
 NASPERS-N 210.55 14.64%
 BHP 146.68 10.2%
U-SBKIMM 126.67 8.8%
 RICHEMONT 118.91 8.27%
 ANGLO 105.28 7.32%
  • Performance against peers
  • Fund data  
Management company:
STANLIB Collective Investments (RF) Limited
Formation date:
ISIN code:
Short name:
South African--Equity--Large Cap
FTSE/JSE Top 40 index
Contact details




  • Fund management  
Ryan Basdeo
After beginning his career as a financial accountant in the employee benefits industry, Ryan joined STANLIB Asset Management in their Institutional Pricing team in 2008. He got experience in the Offshore Trades Processing team from 2010, before moving on to Alternative Investments as market maker for the ETFs and executing trades for the index-tracking funds, as well as assistance with portfolio management. He was appointed a Portfolio Manager in 2017. Ryan has a BCom in Taxation degree, is a JSE Registered Securities Trader, as well as a Registered Bond Trader and has been awarded a MBA from Wits Business School.

  • Fund manager's comment

STANLIB ALSI 40 Fund - Sep 19

2019/10/29 00:00:00
Fund review
The fund performed in-line with the index over the quarter. The last quarterly review of the index saw the deletion of Aspen, PSG Group and Sappi. This was complemented by the addition of Impala Platinum and Sibanye Gold. The fund was repositioned for this change, with Naspers remaining the largest holding in the fund. The fund benefited from its exposure to Anglo-Gold Ashanti, Goldfields, and Anglo-American Platinum, which were the three top performers, with Anglo-Gold Ashanti returning 46.2% over the quarter. However, its exposure to Shoprite, Aspen and Discovery detracted from performance in the second quarter, as these were the three worst performers in the fund. Shoprite returned -28.9% over the quarter. Market overview
Post a strong run of equity markets across the globe in the first half of 2019, global markets have since slowed down due to increased tension in the trade wars and continued slowdown in global economic data. Europe and USA continued with monetary easing to offset economic slowdown. Returns have hence been flat for the quarter apart from the emerging markets, with the MSCI World at 1.1% and MSCI EM at -2.1% for the quarter. Locally, GDP was 3.1% Q/Q in Q2 2019 reversing the Q1 2019 contraction, SARB cut rates by 25bps in line with census in their July meeting but left it unchanged in September. The national treasury published a white paper on structural reform including SOE reform, marking one of the first signs of structural reforms in the new Presidency. Locally, domestic asset classes such as equities (SWIX ALSI), bonds (ALBI), and cash (STeFi) recorded mixed returns of -2.14%, 1.5% and 1.8% respectively.
Looking ahead
Against the backdrop of slowing global economic growth, a pause in trade war, could provide some relief to the financial markets. But if trade uncertainty continues posing a significant drag on business and consumer confidence, we expect risk aversion will rise as the ability of developed markets and vulnerable emerging economies to weather the impact of trade wars remains uncertain. Additionally, emerging economies with sizeable dollar debts and fiscal deficits may struggle. Locally, uncertainty will remain high until the government provides evidence that SA’s economic policy and reforms are heading in the right direction for future growth. We believe investors should focus on liquid markets segments with risk dialled down compared with market benchmarks.
The commentary gives the views of the portfolio manager at the time of writing. Any forecasts or commentary included in this document are not guaranteed to occur.
  • Fund focus and objective  
The investment objective of the portfolio will be to focus on achieving a total compound annual return which will substantially equate to the total compound annual return of the FTSE/JSE Top 40 Index as adjusted to take into account transactions and other costs. The securities to be acquired for the Portfolio will consist of a selection of ordinary shares, as included in the FTSE/JSE Top 40 Index.

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