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  •  Stonehage Fleming SCI Global Best Ideas Feeder Fund (A1)
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14.98  /  1.18%

1269.37

NAV on 2020/02/27
NAV on 2020/02/26 1254.39
52 week high on 2020/02/20 1352.07
52 week low on 2019/02/28 1007.96
Total Expense Ratio on 2019/03/31 1.52
Total Expense Ratio (performance fee) on 2019/03/31 0
NAV Incl Dividends
1 month change 0.47% 0.47%
3 month change 5.63% 5.63%
6 month change 4.77% 4.77%
1 year change 26.95% 26.95%
5 year change 0% 0%
10 year change 0% 0%
Price data is updated once a day.
  • Sectoral allocations
Liquid Assets 1.99 1.03%
Offshore 190.49 98.97%
  • Top five holdings
STONEHAGEFLEM 190.31 98.88%
  • Performance against peers
  • Fund data  
Management company:
Sanlam Collective Investments
Formation date:
2018/11/01
ISIN code:
ZAE000263315
Short name:
U-SFGBEST
Risk:
High
Sector:
Global--Equity--General
Benchmark:
MSCI All Countries World Index
Contact details

Email
No email address listed.

Website
No website listed.

Telephone
021-947-9111

  • Fund management  
Gerrit Smit
He started as an equity analyst at Sanlam fifteen years ago and was appointed to the current position in 1995. He has also spent two years at at the Economic Development Corporation and a year at Santambank.


  • Fund manager's comment

Stnhage Flming SCI glbl bst ideas equity FF Sep 19

2019/10/11 00:00:00
*Our philosophy is designed to buy outstanding quality businesses that can grow on a sustainable basis. The intention is to hold them until they may become overvalued. McDonald's has been in the Fund's list of top ten holdings for a long time.
*It is often the sustainability of a simple business model that delivers better than what many may expect. In the case of McDonald's, the model is to own the majority of the restaurant properties and to franchise the restaurant operations to independent franchisee groups.Dividends are funded only from rent income, with any excess rent and the franchise royalty income utilised to reinvest in the business, to cover marketing and relatively low operating costs and to buy back shares.
*As simple as this model may sound, it is very supportive of sustainable growth in different forms. It creates an ideal landlord-tenant relationship in the sense that they are practically business partners working in the best interests of both parties. It also creates a very stable cash flow stream, with less risk of losing a tenant than in most other property businesses. The discipline of paying dividends only from rent income creates a cash flow buffer to finance future growth.
*Of course, enduring success of the restaurants is absolute key for continuing organic growth. In this context, McDonald's invested heavily in product quality and evolved its menu to offer healthy choices, while its scale ensures competitive pricing of its products. Home delivery also has become a new growth avenue.
*The share delivered a total return of +21.3% p.a. over the past five years, compared to +6.9% p.a. for the MSCI World AC index and +11.1% p.a. for the S&P 500 index (all in US$ terms). The dividend has been raised each of the past 43 years, making it one of the world's few Dividend Aristocrats. I
  • Fund focus and objective  
This Fund invests solely into the Stonehage Fleming Global Best Ideas Equity Fund. The performance details of the Fund cannot be shown before the 12 month anniversary of the fund being 1 November
2019. The Fund intends to invest at least 97% of all cash received in the Master Fund and hold not more
than 3% cash.
We invest in best of breed businesses for their quality,strategic competitive edge and value.
• Invest for sustainable organic growth
• Fundamental research driven
• Particular focus on quality of management, balance sheet strength, return on invested capital,
free cash flow generation, ability to grow dividends each year
• Bottom-up approach to identify exceptional businesses
• Global orientation, with emerging market exposure
• High conviction concentrated portfolio
• Predominantly larger capitalisation businesses, also consider exceptional medium-sized ones
• Buy to hold and disciplined selling
• No benchmark orientation, no active trading, no leverage, no hedging
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