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-2.03  /  -0.27%

760.45

NAV on 2019/09/19
NAV on 2019/09/18 762.4844
52 week high on 2019/05/03 782.8069
52 week low on 2019/01/04 697.8841
Total Expense Ratio on 2019/06/30 1.91
Total Expense Ratio (performance fee) on 2019/06/30 0
NAV Incl Dividends
1 month change 1.5% 1.5%
3 month change -2% -0.72%
6 month change 1.16% 2.47%
1 year change 1.14% 3.67%
5 year change 1.29% 3.55%
10 year change 7.11% 9.41%
Price data is updated once a day.
  • Sectoral allocations
Basic Materials 338.93 7.36%
Bonds 6.08 0.13%
Consumer Goods 196.22 4.26%
Consumer Services 227.43 4.94%
Derivatives 0.04 0.00%
Financials 493.79 10.72%
Fixed Interest 479.93 10.42%
Gilt 0.17 0.00%
Gilts 993.06 21.56%
Industrials 64.47 1.40%
Liquid Assets 28.09 0.61%
Technology 384.55 8.35%
Telecommunications 80.89 1.76%
Offshore 1312.03 28.49%
  • Top five holdings
O-SLHIALP 1014.45 22.03%
U-SLINCR 479.93 10.42%
 NASPERS-N 384.55 8.35%
ISCUCIETF 123.08 2.67%
 STANBANK 114.78 2.49%
  • Performance against peers
  • Fund data  
Management company:
STANLIB Collective Investments (RF) Limited
Formation date:
1994/08/01
ISIN code:
ZAE000025193
Short name:
U-SLSTABR
Risk:
Unknown
Sector:
South African--Multi Asset--High Equity
Benchmark:
60% FTSE/JSE All Share index; 25% BEASSA All Bond index; 9% MSCI World index and 6% JP Morgan Global Government Bond index
Contact details

Email
contact@stanlib.com

Website
http://www.stanlib.com

Telephone
011-448-6000

  • Fund management  
Herman van Velze
With a mining engineering background, Herman started his asset management career in 1993 as a mining analyst. Winner of several awards in 2007, he has successfully managed the STANLIB Balanced Fund since 2005 and is currently Head of Balanced Funds.
Robin Eager
Robin started his investment career in 1998 working in corporate finance & private equity. At STANLIB he began as an Industrial Analyst, transfering in 2006 to managing general equity funds. Robin has successfully managed Balanced Funds since 2007 and is currently Head of Balanced Funds.
Warren Buhai
Following 5 years in corporate finance at Standard Bank, Warren joined STANLIB in 2005 where he initially specialised in resources analysis and portfolio management. He has been a portfolio manager in the Multi-Asset Franchise since 2009.


  • Fund manager's comment

STANLIB Balanced Fund - Mar 19

2019/05/30 00:00:00
Fund review
The STANLIB Balanced Fund returned +6.8% over the quarter ended 31 March 2019, relative to its benchmark return of +5.9%.
Market overview
The first quarter of 2019 started with a complete turnaround after a very difficult 2018 for risk assets. The switch in messaging and actions by the world’s major central banks, led by the US Federal Reserve, to be more accommodative with their monetary policy actions spurred a rebound post the material 2018 fourth quarter equity selloff. Despite the global growth outlook continuing to deteriorate in the first quarter of the new year, the dovish actions of the major central banks, together with easing concerns around US/China trade tensions, pushed offshore equities (+12.9% in rand terms) to their highest quarterly US dollar return since 2010. After underperforming in the last quarter of 2018, the US equity market (+13.9%) outperformed emerging market equities (+12.4%) although offshore property (+14.5%) was the best performing major asset class, with offshore bonds (+2.5%) and offshore cash (+1.0%) also giving positive, albeit low returns in the quarter. Despite increasing concerns surrounding the local growth outlook following the return of Eskom’s loadshedding, South African risk assets followed the offshore lead to show decent gains, with the local equity market (SWIX) +6% in the quarter led by Resources (+17.8%), followed by Industrials (+7.4%) and Property (+1.5%), with Financials (-0.4%) lagging. The Resources sector included strong gains for precious metals companies with Impala Platinum (+66%) and Sibanye Gold (+57%) leading the way, while the Industrials sector saw a rebound in some index heavyweights that had been struggling, including British American Tobacco (+29%) and Richemont (+12%). Local bonds (+3.8%) and cash (+1.8%) also produced positive returns in the quarter.
Looking ahead
The outlook for 2019 has weakened from a global growth perspective. However, a positive feature is the continued lack of inflationary pressures globally, allowing central banks to maintain an accommodative monetary policy stance, which should act as a tailwind for risk assets. Locally, the general election scheduled for 8 May is the main short-term event that could drive asset classes, after Moody’s maintained its stable outlook and investment grade credit rating on SA’s sovereign debt. In managing your fund, we are always cognisant of both the positive tailwinds as well as the risks that are inevitable the longer this cycle persists. We take out protection against market corrections when we believe it is appropriate, but we continue to believe that exposure to a mix of diversified asset classes both locally and offshore provides you with an optimal solution to generate above-inflation returns over the long term.
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 STANLIB Balanced Fund aims to achieve a reasonable level of current income and capital growth by investing in a diversified spread of equities and fixed income securities in a manner similar to retirement schemes. Investments would include listed shares and preference shares, including property shares and property loan stock, non-equity securities and participatory interests of other collective investment schemes. Maximum direct and/or indirect foreign exposure: 25% of the portfolio
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