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

2.87  /  0.27%


NAV on 2019/09/13
NAV on 2019/09/12 1063.22
52 week high on 2019/04/25 1094.25
52 week low on 2019/01/02 999.46
Total Expense Ratio on 2019/06/30 1.75
Total Expense Ratio (performance fee) on 2019/06/30 0
NAV Incl Dividends
1 month change 1.46% 1.46%
3 month change -2.2% -0.76%
6 month change 1.08% 2.57%
1 year change -1.12% 1.69%
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 - Jun 19

2019/09/04 00:00:00
Megafin SCI Balanced Fund of Funds Portfolio Update
Moderately aggressive investors received decent outcomes from portfolio allocations during the second quarter of 2019. The Portfolio managed to deliver positive performance in the second quarter, with year-to-date performance for 2019 remaining encouraging.
The Megafin Balanced FoF’s returned 1.1% for the quarter and has generated a return of 3.4% 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
Local equity allocations drove performance over the quarter in line with the supportive global environment. Within local equities, Financials contributed the most to performance, while Industrials and Resources also generated positive performance over the quarter. Local bonds contributed positively to performance as yields moved lower across the globe in response to lower future expected interest rates. While global equity allocations generated decent hard currency returns over the quarter, rand strength against major developed currencies meant that these allocations did not contribute meaningfully to portfolio performance. Within global equities, developed market equities outperformed emerging market equities, driven higher by U.S. equity markets which make up a significant portion of global equity indices. Local listed property contributed positively to portfolio performance, which 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.
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 received a positive return from the Portfolio during the second quarter of 2019. We would encourage clients to take a long-term view when employing capital. While allocations to local and global equities may be volatile in the short term, these allocations are necessary in order to generate returns in excess of inflation.
  • 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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