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  •  Imalivest Sanlam Collective Investments WW Flexible Fund (A)

-7.24  /  -2.78%


NAV on 2020/02/25
NAV on 2020/02/24 267.51
52 week high on 2020/02/20 272.2
52 week low on 2019/06/03 239.17
Total Expense Ratio on 2019/09/30 1.1
Total Expense Ratio (performance fee) on 2019/09/30 0
NAV Incl Dividends
1 month change 0.12% 0.12%
3 month change -0.21% 0.53%
6 month change 6.88% 7.68%
1 year change 8.07% 10.13%
5 year change 7.38% 8.55%
10 year change 11.45% 13.1%
Price data is updated once a day.
  • Sectoral allocations
Basic Materials 6.90 1.56%
Consumer Goods 21.91 4.95%
Consumer Services 5.23 1.18%
Derivatives 8.33 1.88%
Financials 19.73 4.45%
Liquid Assets 3.38 0.76%
Offshore 377.56 85.22%
  • Top five holdings
VANVAL 30.75 6.94%
ISHMSCIEAFE 28.88 6.52%
 BATS 21.91 4.95%
SYNCHRONY 19.93 4.5%
 OMUTUAL 19.73 4.45%
  • Performance against peers
  • Fund data  
Management company:
Sanlam Collective Investments
Formation date:
ISIN code:
Short name:
Medium - High
Worldwide--Multi Asset--Flexible
CPI plus 6%(net of fees)
Contact details

No email address listed.

No website listed.


  • Fund management  
Anton Botha
Anton Botha is a co-founder and co-owner of Imalivest. He spent most of his career as Chief Executive of Genbel and Gensec, building it into a leading South African investment banking group. Before it became a wholly owned subsidiary of Sanlam Ltd in December 2000, Gensec was recognized as one of South Africa’s 40 largest listed companies. Currently Anton serves as a non-executive director on the boards of African Rainbow Minerals Ltd, JSE Ltd, Vukile Property Fund Ltd (Chairman), University of Pretoria, Sanlam Ltd and Sanlam subsidiaries. He is also a past-President of the AHI (Afrikaanse Handelsinstituut) and is actively involved in organised business. Anton holds commerce degrees from the University of Pretoria and Rand Afrikaans University (RAU), a law degree from the University of South Africa and attended an executive management course at Stanford University in the USA.
Johan van Reenen
Johan van Reenen is a co-founder and co-owner of Imalivest. He spent the latter part of his investment career as executive director of Gensec Ltd and managing director of Gensec Asset Management and has a wealth of experience in corporate finance, investment banking and asset management both locally and internationally. Johan currently serves as a non-executive director on the board of MMI Holdings Ltd, Momentum Africa Investment (Pty) Ltd and serves on the Risk, Remuneration and Investment sub committees of the MMI Holdings Board. He is also a director of various privately held companies. In addition, he is a Trustee of the World Wild Life Foundation and a past chairman of the University of the Free State Foundation. Johan holds a BSc (Hons.)(Geochemistry) degree from the University of the Free State and a MBA degree from the University of Stellenbosch.

  • Fund manager's comment

Imalivest SCI Worldwide Flexible Fund - Dec 19

2020/02/26 00:00:00
Over the long term, equity investments deliver superior returns to investors. For this reason, our portfolio will be fully invested in equities most of the time, unless we consider equity valuations to be expensive or we need to contain risk.
When evaluating equities, we tend to follow a value investment approach with a preference for high quality companies with the potential to generate stable, consistent returns. The importance of identifying and investing in these companies is to harness the compounding effect on shareholder return.
We continue to believe that the wider TECHNOLOGY sector offers an attractive investment opportunity and therefore our portfolio is still heavily invested in these stocks for the following reasons: . . . .
All sectors and companies rely on technology to improve their quality, productivity and/or profitability. In a highly competitive global economy, companies need to spend on IT to build and protect their market shares. Capital projects have large technology components. Ever increasing global data traffic presents a growth opportunity for device makers, semi-conductors and networking companies.
True to our philosophy, we only invest in companies that we regard as quality businesses and that offer value and therefore high growth technology companies won’t normally be found in our portfolios.
HEALTHCARE: We have had a positive view on the Healthcare sector as a whole since the inception of the fund. Companies in this sector should benefit from the aging baby boomer generation in the developed world whose need and capacity to pay for medical care increased. Also, as the middle class in emerging markets grows, more people can afford medical care, which could be an additional source of growth for this sector.
During 2018 we decided to switch some of our investments trading close to fair value towards the World Index. An unintended consequence of this decision was that our overweight Healthcare position was reduced substantially as many of our pharma investments were trading close to fair value. During the second half of 2019 we decided to increase our Healthcare exposure again by building up a position in a Healthcare ETF.
As at the end of 2019, 13.5% of the fund was invested in value ETFs tracking the World Index (we make use of a combination of ETFs in order to limit costs). The purpose of these ETF investments are to be placeholders for when we want so sell an investment, but we have not identified another value investment suiting our philosophy.
  • Fund focus and objective  
The Imalivest Sanlam Collective Investments Worldwide Flexible Fund is a worldwide flexible portfolio that aims to provide investors with reasonably high long term total returns. The portfolio may invest in financially sound global and local equity securities, government -, corporate- and inflation linked bonds, debentures, non-equity securities, property shares, property related securities, preference shares, money market instruments and assets in liquid form. The portfolio may also invest in participatory interests and other forms of participation in portfolios of collective investment schemes or other similar schemes operated in territories with a regulatory environment which is to the satisfaction of the manager and trustee of a sufficient standard to provide investor protection at least equivalent to that in South Africa and which is consistent with the portfolio's primary objective. The Manager may make active use of derivatives to reduce the risk that a general decline in the value of equity, property and bond markets may have on the value of the portfolio. The manager shall have the maximum flexibility to vary assets between the various markets, asset classes and countries to reflect the changing economic and market conditions.

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