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NAV on 2019/09/18
NAV on 2019/09/17 100
52 week high on 2018/09/20 100
52 week low on 2018/09/20 100
Total Expense Ratio on 2019/06/30 1.35
Total Expense Ratio (performance fee) on 2019/06/30 0
NAV Incl Dividends
1 month change 0% 0.44%
3 month change 0% 1.33%
6 month change 0% 2.23%
1 year change 0% 4.94%
5 year change 0% 5.18%
10 year change 0% 4.77%
Price data is updated once a day.
  • Sectoral allocations
Fixed Interest 1243.37 16.39%
Liquid Assets -40.95 -0.54%
Money Market 6383.44 84.15%
  • Top five holdings
MM-12MONTH 1879.61 24.78%
MM-28MONTH 1518.94 20.02%
U-SNMM 723.40 9.54%
MM-16MONTH 620.00 8.17%
MM-08MONTH 324.41 4.28%
  • Performance against peers
  • Fund data  
Management company:
Sanlam Collective Investments
Formation date:
ISIN code:
Short name:
South African--Multi Asset--Income
After tax return on the Sanlam MMF (tax rate of 40%)
Contact details

No email address listed.

No website listed.


  • Fund management  
Steven Rosenberg
Inghe Schneider

  • Fund manager's comment

Sanlam Alternative Income Fund comment - Jun 19

2019/09/05 00:00:00
The fund saw slight growth during the quarter, closing on a somewhat larger size at month end. On the asset front, redemptions and new investments resulted in net asset redemptions of R200 million. As a result, interest as a component of distributions increased from the previous quarter.
Despite the interest component hike, we were able to reposition our asset balance and maintain outperformance of our benchmark. Work on new assets continue and we are optimistic about progress being made on several fronts.
  • Fund focus and objective  
The objective of the Sanlam Alternative Income Fund (SAIF or the fund) is to offer a liquid, mainly dividend-yielding investment that will track the South African short-term interest rate cycle. Income distributed to investors will aim to exceed the average after tax yield normally received from money market portfolios.
The credit risk is diversified in credit-rated investments of a high credit quality. Investments are in rand-denominated, redeemable, cumulative preference shares and liquid instruments.
The fund has a conservative investment mandate that will follow a risk profile focused on capital preservation subject to strict criteria, in accordance with the requirements of the Collective Investments Schemes Control Act (CISCA).
Why Choose This Fund?
* An ideal core cash holding for investors who have a high marginal tax rate.
* SAIF is the first 'new generation' dividend fund in the industry, structured essentially as a preference share conduit fund.
* The portfolio will invest only in redeemable cumulative preference shares and in liquid instruments, and will not invest in non-redeemable (perpetual) preference shares, or preference shares that offer a fixed rate of return.
* A proven market demand exists for an investment product that offers:
- Enhanced yields mainly in the form of tax-free dividends.
- Capital stability in the form of a constant unit price to be maintained.
- No capital gains tax implications.
- Low capital risk.
- No market or interest rate risk.
- Distributions on a monthly basis.
- Investor protection within the highly regulated CIS arena.
Additional Fund Information
* A constant unit price of 100c will be maintained.
* The fund may be closed for new investments.
* The fund has a credit rating of za.AAi from CA-Ratings.
* The return will be in the form of tax free dividends and a portion of taxable interest income.
* The fund offers 48 hour liquidity, subject to the provisions of the deed.
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