NAV on 2020/05/29
|NAV on 2020/05/28
|52 week high on 2020/05/04
|52 week low on 2020/03/25
|Total Expense Ratio on 2019/12/31
|Total Expense Ratio (performance fee) on 2019/12/31
Sanlam Collective Investments
MSCI Daily World Total Return Net World Index USD
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Alwyn van der Merwe
Alwyn joined the Old Mutual Group in 1989 and has managed numerous retirement fund and unit trust portfolios.Alwyn currently manages the portfolios of a number of retirement funds. He is also the portfolio manager of the Namibia Growth Fund and the Namibian Managed Unit Trust Fund.
As Head of Global Equities, Pieter is the lead fund manager for the SPW Global High Quality Equity fund and the Clime International Equity fund having joined the firm in mid 2012. His responsibilities include the design, management and implementation of our global equity client offering including segregated mandates for high net worth individuals. Pieter oversees a team of five analysts focusing on global and UK equities across multiple industries. Current assets under management managed by the investment team in direct global and UK equity mandates is more than $0.5bn.
Sanlam Private Weatlh Global High - Dec 19
The Sanlam Global High Quality Fund outperformed the MSCI World Index during the month by 0.5%, with the fund gaining 3.3%.
The best performing stock this month was Tencen (+13.8%). Tencent has struggled this year for a couple of reasons. Firslty there has generally been a cautious view of the Chines market given the constant noise surrounding the trade war with Trump and the US. This has kept a lid on exuberance. Secondly, one of Tencent's larger segments is advertising, predominantly through its super-app. WeChat. This year has seen the emergence of a social rival, ByteDance, which has grown their user base significantly.
This has taken ad dollars away from Tencent. However this month the market is saying that it thinks these issues are overdone. Trade talks have been more encouraging in recent weeks and, in our view, Tencent operates in many segments that are more insulated from these talks than some of its rivals. We are also seeing some early signs of ByteDance facing some regulatory issues as the young company gets to grip with how to handle the Chines Communist Party. Other strong performers this moth include Imperial Brands (+12.5%) and Samsung (+11.7%). In terms of the laggards, Oracle (-5.4%) and Cognizant (-3.3%) struggled during the month. Oracle had their Q2 results which disappointed. We continue to wait for strong top line growth from the enterprise software business.
The portfolio will apart from assets in liquid form invest in participatory interests of the SANLAM PRIVATE WEALTH GLOBAL HIGH QUALITY FUND established under the SANLAM GLOBAL FUNDS PLC approved by the Central Bank of Ireland in February 2013. The SANLAM PRIVATE WEALTH GLOBAL HIGH QUALITY FUND is fully invested offshore in equity securities of companies listed or traded on the Recognised Exchanges. Subject to the investment restrictions, the SANLAM PRIVATE WEALTH GLOBAL HIGH QUALITY FUND is not subject to any geographical or sector restrictions. The Investment Manager will invest in 'high quality' investments. The Investment Manager defines a 'high quality' investment as one with the some of the following characteristics: companies that typically have strong balance sheets enabling the company to service debt comfortably, high cash returns on assets, relatively low capital requirements, have a high market share in their chosen products or service lines, short customer repurchase cycles and long product cycles. The securities will primarily be common stocks and other securities with equity characteristics including but not limited to preferred stocks, rights (which are issued by a company to allow holders to subscribe for additional securities issued by that company) and convertible securities (such as convertible bonds and convertible preferred stocks). The Fund may also invest in depositary receipts.