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

2.21  /  0.21%


NAV on 2019/07/19
NAV on 2019/07/18 1054.67
52 week high on 2018/09/03 1105.55
52 week low on 2019/01/02 999.46
Total Expense Ratio on 2019/03/31 1.77
Total Expense Ratio (performance fee) on 2019/03/31 0
NAV Incl Dividends
1 month change -2.61% -1.17%
3 month change -3.15% -1.72%
6 month change 3.59% 5.12%
1 year change 1.25% 4.13%
5 year change 0% 0%
10 year change 0% 0%
Price data is updated once a day.
  • Sectoral allocations
Bonds 50.03 8.02%
Fixed Interest 111.42 17.85%
General Equity 301.26 48.27%
Liquid Assets 6.44 1.03%
Spec Equity 101.65 16.29%
Specialist Securities 53.30 8.54%
  • Top five holdings
U-PSGGROW 95.06 15.23%
U-INVEQU 74.78 11.98%
U-CORSTRI 56.40 9.04%
U-INDIVIN 55.03 8.82%
U-ACPEQPR 54.13 8.67%
  • Performance against peers
  • Fund data  
Management company:
Sanlam Collective Investments
Formation date:
ISIN code:
Short name:
South African--Multi Asset--High Equity
Average Worldwide MA Flexible
Contact details

No email address listed.

No website listed.


  • Fund management  
Rafiq Taylor
Gerrit Bezuidenhout
Mark Flanagan

  • Fund manager's comment

Megafin Balanced FoF Comment - Sep 18

2019/01/07 00:00:00
Megafin SCI Balanced Fund Update The third quarter of 2018 provided a challenging backdrop for investors, with asset classes, and indeed funds, providing divergent returns in many respects. In this sense we are pleased with the quarterly return of the Fund over this period, particularly given the added impact of currency volatility. We are pleased with performance from an asset allocation point of view, which remains long term in its focus on capital growth. Unfortunately, local property exposure, which is approximately 7% of the Fund, was again a detractor from quarterly performance. However, this was more than offset by offshore exposure and carefully selected domestic exposure.
Asset Allocation The local economic environment remains challenging as evidenced by the South African economy slipping into a technical recession after two consecutive quarters of negative GDP growth in Q1 and Q2 2018. President Ramaphosa has done his utmost to encourage investment into the local economy, however, the country remains plagued by a lack of business confidence as well as the recent VAT and petrol price increases which have placed strain on the pocket of the South African consumer. Local risk assets struggled in the third quarter, driven by a combination of disappointing South African economic data as well as general negative sentiment towards emerging markets. Both local listed property and local equities ended the quarter in negative territory, detracting from overall portfolio performance. Global equities contributed to portfolio performance during the quarter, however, the extent of the positive contribution was region dependent, with the greatest contributions coming from U.S. and Japanese equities. Offshore exposures also received a strong tailwind from a weaker rand over the quarter, despite the volatile local currency managing to reverse some of these losses during the month of September. Local equities detracted from relative performance, while the positive contributions from local bonds and global equities allowed the Portfolio to generate a positive return over the quarter. We remain relatively defensively positioned, with an underweight exposure to local listed property and select exposure to local equities where we are seeing certain opportunities. We have a healthy allocation to global assets, cash and bonds which provide protection against weakness in the local currency and equity markets. While short-term volatility in returns may be uncomfortable, we are confident in the asset allocation and manager selection within the Portfolio, which we expect to generate real returns for investors in the long term.
Fund Selection Most of the underlying funds contributed positively to performance over the quarter.
The Glacier Global Stock Fund was the largest contributor over the quarter as stock selection and rand depreciation promoted robust rand returns from the Fund. The main detractor from performance was the Methodical Equity Prescient Fund. A volatile local equity market which continues to be spurred on by large moves in the rand either way was a negative for the Fund which is more suited for trending markets.
Investec Global Franchise was introduced into the fund in September 2018 at the expense of local equity exposure. Local bond and cash exposures were increased too, meaning that there was very little change to overall offshore exposure.
Summary We continue to apply a fundamentally-diversified approach that seeks to maximise reward for risk over the long term. Despite the market-driven setback, the Fund continues to perform within the expected risk/return and drawdown framework over the long term, with asset allocation and investment selection playing an important role for investors. Source: Morningstar
  • Fund focus and objective  
Investments to be included in the portfolio will, apart from assets in liquid form, consist solely of participatory interests in portfolios of collective investment schemes registered in the Republic of South Africa or of participatory interests in collective investment schemes or other similar schemes operated in territories with a regulatory environment which is to the satisfaction of the manager and the trustee of a sufficient standard to provide investor protection which is at least equivalent to that in South Africa. The portfolio will consist of a mix of collective investment scheme portfolios investing in equity, bond and property markets and money market instruments. The effective exposure to equities will not exceed 75% of the portfolio. The portfolio will be managed in accordance with regulations governing pension funds. The portfolio will be managed by Megafin CC. This portfolio will, at no time, duplicate any Sanlam multi asset portfolio. The portfolio will also be allowed to invest in listed and unlisted financial instruments (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. For the purpose of this portfolio, the Manager shall reserve the right to close the portfolio to new investors on a date determined by the Manager. This will be done in order to be able to manage the portfolio in accordance with its mandate. The Manager may, once a portfolio has been closed, open that portfolio again to new investors on a date determined by the Manager. The Trustee shall ensure that the investment policy set out in the preceding clauses are adhered to; provided that nothing contained in this clause shall preclude the Manager from varying the proportions of securities in terms of changing economic factors or market conditions or from retaining cash in the portfolio and/or placing cash on deposit.
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