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7.27  /  1.25%


NAV on 2019/09/16
NAV on 2019/09/13 574.8976
52 week high on 2019/04/23 595.7469
52 week low on 2018/12/10 498.9837
Total Expense Ratio on 2019/06/30 0.47
Total Expense Ratio (performance fee) on 2019/06/30 0
NAV Incl Dividends
1 month change 4.36% 4.36%
3 month change -2.44% -1.79%
6 month change 3% 4.95%
1 year change 1.69% 5.21%
5 year change 1.65% 4.69%
10 year change 7.97% 11.12%
Price data is updated once a day.
  • Sectoral allocations
Basic Materials 218.53 26.36%
Consumer Goods 95.93 11.57%
Consumer Services 55.79 6.73%
Derivatives 10.57 1.27%
Financials 172.26 20.78%
Fixed Interest 41.62 5.02%
Health Care 4.67 0.56%
Industrials 19.53 2.36%
Liquid Assets 0.89 0.11%
Technology 177.18 21.37%
Telecommunications 32.04 3.86%
  • Top five holdings
 NASPERS-N 177.18 21.37%
 BHP 91.70 11.06%
 RICHEMONT 74.16 8.95%
 ANGLO 48.77 5.88%
U-SBKIMM 41.62 5.02%
  • 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 - Mar 19

2019/05/29 00:00:00
Fund review
The fund performed in line with the index for the quarter. In the last quarterly review of the index, Life Health Group Holdings and Reinet Investments were excluded and replaced with Anglo American Platinum and Gold Fields. The fund was repositioned for this change. Naspers remained the largest holding in the fund. The fund benefited from its exposure to Anglo American Platinum, British American Tobacco and the BHP Group, which were the three top performers, with Anglo American Platinum returning 38.3%. However, its exposure to Aspen Pharmacare, Mr Price Group and Sappi Ltd detracted from performance, as these were the three worst performers in the fund. Aspen returned -31% over the quarter.
Market overview
In the first quarter of 2019 equity markets shrugged off any negative sentiment arising from the second half of 2018. The majority of equity markets across the globe recorded strong positive returns, with the MSCI World Index recording 13.5%, MSCI Emerging Markets recording 11.1% and the South African equity market as represented by FTSE/JSE All Share Index recording 8%. Global growth continues at a slower pace with many of the major economies progressing to later stages of the business cycle. The less hawkish Fed provided some relief for financial conditions but the era of easy money has shifted towards gradual tightening of monetary policy. Locally, Eskom and corruption in other SOEs remain in the headlines as domestic asset classes such as bonds (ALBI), property (PCAP) and cash (SteFi) recorded gains of 3.8%,1.73% and 1.9% respectively.
Looking ahead
Against the backdrop of slowing global economic growth, there is potential for trade uncertainty to continue, resulting in higher prices and 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. After more than two years of steadily rising interest rates, 2019 could mark the peak for US treasury yields for the current business cycle, however the road ahead is likely to remain bumpy. Locally, uncertainty will remain high until the widely anticipated national election provides some direction on the future of SA’s economic policy. 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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