•  Megafin Sanlam Collective Investments Absolute Fund of Funds (B1)

-1.19  /  -0.11%


NAV on 2020/08/07
NAV on 2020/08/06 1066.18
52 week high on 2020/08/06 1066.18
52 week low on 2020/03/24 862.48
Total Expense Ratio on 2020/03/31 1.36
Total Expense Ratio (performance fee) on 2020/03/31 0
Incl Dividends
1 month change 4.22% 4.22%
3 month change 5.22% 7.14%
6 month change 3.35% 5.24%
1 year change 7.28% 11.26%
5 year change 0% 0%
10 year change 0% 0%
Price data is updated once a day.
Click and drag to zoom in on timeline.
  • Sectoral allocations
Bonds 80.93 12.70%
Fixed Interest 116.25 18.24%
General Equity 168.12 26.37%
Liquid Assets 22.02 3.46%
Managed 78.78 12.36%
Spec Equity 37.21 5.84%
Offshore 134.12 21.04%
  • Top five holdings
POLGLOVAL 134.12 21.04%
U-COSTOP5 79.79 12.52%
U-METHEPR 78.78 12.36%
U-MATSTAB 63.34 9.94%
U-INDIVIN 52.91 8.3%
  • Performance against peers
  • Fund data  
Management company:
Sanlam Collective Investments
Formation date:
ISIN code:
Short name:
South African--Multi Asset--Medium Equity
SA CPI + 3%
No email address listed.

No website listed.


  • Fund management  
Megafin (Pty) Ltd

  • Fund manager's comment

Megafin SCI Absolute Fund of Funds - Jun 19

2019/09/04 00:00:00
Megafin SCI Absolute Fund of Funds Portfolio Update Moderate investors had mixed fortunes from portfolio allocations during the second quarter of 2019. Despite this, the Portfolio managed to deliver positive performance over the quarter.
The Megafin SCI Absolute FoF’s returned 1.4% for the quarter and has generated a return of 2.6% over the past year.
After disappointing performance in May, global equity markets finished the quarter strongly, largely on the back of comments from the major central banks that they would be willing to provide support in the form of lower interest rates and easing trade tensions between the U.S. and China.
Asset Allocation The most significant allocation within the Portfolio, local bonds, drove performance over the quarter as yields moved lower across the globe in response to lower future expected interest rates. Local equities also contributed positively to performance in line with the supportive global environment over much of the quarter. Within local equities, Financials contributed the most to performance, while Industrials and Resources also generated positive performance for the quarter. While global equity allocations generated decent hard currency returns, rand strength against major developed currencies meant that these allocations did not contribute meaningfully to portfolio performance. A small allocation to local listed property contributed positively to portfolio performance, this was achieved despite the asset class facing headwinds in the South African environment.
Fund Selection
The contribution from fund selection was mixed over the quarter.
Coronation Strategic Income delivered decent performance in the second quarter of the year. Significant allocations to local corporate bonds drove returns over the quarter, in line with strong performance from global bond markets, as yields lowered in response to lower future expected interest rates.
Nedgroup Core Bond delivered strong performance in the second quarter of 2019. The fund's significant allocation to South African government bonds drove performance as bond yields fell across the globe in expectation of lower future interest rates.
CoreShares S&P SA Top 50 was one of the best performing funds over the quarter. This is a passive fund that invests in the largest 50 companies on the JSE, however, they cap their weight to one share to 10% of the fund. The fund’s exposure to resources, especially the gold miners, was a solid contributor to performance over the quarter.
PSG Equity underperformed the market and its peers over the second quarter of 2019. The fund had a few stock specific detractors: Glencore (-16%), Imperial (-14%) and Japan Post Insurance (-16%). Large-cap shares continued to outperform the small and mid-cap shares over the quarter.
No changes were made to the portfolio composition during the quarter.
Investors will be pleased with positive returns generated in the second quarter of 2019. Year-to-date performance has been encouraging, with diverse asset allocation contributing meaningfully to portfolio outcomes. We will continue to follow a valuation-driven approach when allocating to different asset classes. This will allow the Portfolio to generate inflation-beating returns in a variety of market environments. Source: Morningstar
  • Fund focus and objective  
The objective of this portfolio is to offer absolute returns in excess of inflation over the long term, simultaneously aiming to avoid negative performance over any rolling 36-month period. The portfolio will target a reasonable level of income for post-retirement investors. Investments to be included in the portfolio will, apart from assets in liquid form, consist solely of participatory interest in portfolios of collective investment schemes. The portfolio will consist of a mix of collective investment scheme portfolios investing in equity, fixed interest instruments, (including but not limited to bonds, cash deposits and money market instruments), debentures, preference shares and property securities as well as any other income enhancing securities which are consistent with the portfolios objective and that the Act may allow. The manager may also invest in derivatives as allowed by the Act from time to time. The Manager shall be permitted to invest on behalf of the portfolio in offshore investments as legislation permits. The fund is Regulation 28 compliant.

Follow us:

Search Articles:Advanced Search
Click a Company: