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-5.25  /  -0.6%


NAV on 2020/02/25
NAV on 2020/02/24 885.31
52 week high on 2020/02/17 930.26
52 week low on 2019/02/26 852.43
Total Expense Ratio on 2019/09/30 1.26
Total Expense Ratio (performance fee) on 2019/09/30 0
NAV Incl Dividends
1 month change -1.99% -1.99%
3 month change -1.98% -1.06%
6 month change 1.77% 2.73%
1 year change 3.49% 5.32%
5 year change 0% 0%
10 year change 0% 0%
Price data is updated once a day.
  • Sectoral allocations
Basic Materials 14.70 6.64%
Consumer Goods 33.39 15.08%
Consumer Services 34.10 15.40%
Financials 47.56 21.47%
Liquid Assets 3.59 1.62%
Technology 44.15 19.93%
Offshore 43.98 19.86%
  • Top five holdings
STONEHAGEFLEM 43.98 19.86%
 NASPERS-N 30.24 13.65%
 REMGRO 15.99 7.22%
 PROSUS 13.91 6.28%
 AB INBEV 13.27 5.99%
  • Performance against peers
  • Fund data  
Management company:
Sanlam Collective Investments
Formation date:
ISIN code:
Short name:
South African--Equity--General
JSE All Share Index TR
Contact details

No email address listed.

No website listed.


  • Fund manager's comment

Stonehage Fleming SCI Equity Fund- Jun 19

2019/09/06 00:00:00
The 2nd quarter of 2019 saw the JSE All Share Index (ALSI) follow up the impressive gains recorded in the 1st quarter with another quarter of solid gains. The ALSI’s 3.9% return over the past 3 months takes the ALSI’s year-to-date gain to 12.2%. All 3 major sectors achieved positive gains for the quarter with the Resource, Industrial and Financial sectors returning 2.4%, 4.0% and 5.4% respectively. The ALSI has generated annualised returns of 6.9% and 5.9% over the last 3 and 5 years to 30 June 2019, respectively.
The past quarter was a busy one on the domestic economic and political front. The outcome of the National Election was largely as expected, with the subsequent cabinet announcement and State of the Nation address generally well received. Global rating agencies have expressed mixed opinion on the election outcome with Moody’s positive on the potential for reform. Fitch pointed to the decline in the ruling party’s support and the increasing likelihood of populist policies. Despite some modest improvement in sentiment; economic growth and activity indicators continue to reflect an economy and consumer under strain. SA’s Gross Domestic Product (GDP) declined 3.2% during the 1st quarter of 2019 – the largest quarterly contraction since 2009. The worse than expected GDP decline has seen further moderation of SA’s 2019 annual growth forecasts. On the global front, general economic momentum and activity appears to be moderating in key regions, with no resolution in the ongoing US-China trade dispute. The result of the softening in global activity has seen the growing prospect of increasingly accommodative monetary policies in the US and Eurozone in particular. With benign inflation, even the SA Reserve Bank (SARB) is expected to cut interest rates at their July meeting.
Given the accommodative global background and the fact that the JSE ALSI is trading in line with its 15 year average forward Price Earnings valuation multiple, we see no reason to change our constructive outlook for our core universe of quality companies.
  • Fund focus and objective  

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