NAV on 2019/05/17
|NAV on 2019/05/16
|52 week high on 2018/09/05
|52 week low on 2019/01/04
|Total Expense Ratio on 2019/03/31
|Total Expense Ratio (performance fee) on 2019/03/31
Sanlam Collective Investments
MSCI World index (Developed Markets)
No email address listed.
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Sanlam International Investments
Sanlam Global Equity comment - Mar 17
The first quarter of 2017 contained a lot of news (as well as noise) around Donald Trump and how he is faring as a president. Markets continued in a positive manner on the back of his campaign rhetoric regarding tax reforms and deregulation. However, towards the end of the quarter doubts started to form amongst investors - relating to the efficacy which Trump will be able to deliver on his promises. Very little has in fact been implemented to date and the jury is still out. As a result the reflation trade lost momentum towards the end of the quarter, specifically in Europe. Economic data from across the globe has been improving over the quarter; ..soft data....has seen significant improvements whereas the hard data has been lagging and is much more moderate in magnitude. Going into the second quarter investors are eagerly waiting for the hard data to confirm the recovery. While it is widely acknowledged that the economy is showing signs of improvements, risks to the global economy have not disappeared. One of these risks for equity markets going forward is a significant increase in inflation without the accompanying earnings growth. Going forward the French elections could be a massive shock to markets specifically if Le Pen comes to power. However, market participants are ascribing a very low probability to such an event. On the other hand, it seems that the recent perceived market shocks, those events which were perceived as a negative at the time, namely Brexit and the Trump victory, have sent equities to all-time highs while volatility has descended to all-time lows. That being said, the bond markets have not agreed with the rosy picture that equities have painted in the first quarter of 2017, but also advanced over the quarter.
During the quarter global equity markets, as measured by the MSCI World Index rose 6.38%. Since the US elections the index has gained in all of the calendar months. For the calendar months over the quarter the MSCI World returned 2.41%, 2.77% and 1.07% respectively. Most major regions produced positive returns; Asia Pacific ex Japan led the charge, rising 11.76%, while Europe followed with a positive 7.44%, North America and Japan followed with returns of 5.88% and 4.49% respectively. As noted above, risks very much remain and not the least in Europe going forward. That being said the region did avoid perceived market risk events during the quarter. In Europe the risks that were averted were the Dutch elections, where voters remained in the moderate category and did not move more towards the right, while in Germany Angela Merkel has fared respectably in the state elections - removing some fears of a similar shake-up in political stance as in the Netherlands.
The fund aims to offer superior returns in the medium to long-term by investing in a well spread portfolio of equities across the globe. The fund is an actively managed multi-manager fund.
The fund is suited for clients with a need for international diversification and a hedge against exchange rate risk.
Why Choose This Fund?
* The fund invests primarily in the developed countries of the world.
* The fund is managed by leading global asset managers, and portfolio construction is based on fundamental company research.
* This is an equity fund and returns will reflect the performance of global equity markets.
* It is a well-diversified fund in terms of countries, currencies, sectors and managers.
* This multi-manager approach diversifies the portfolio across managers and management styles.
Additional Fund Information
* The fund manager may borrow up to 10% of the market value of the portfolio to bridge insufficient liquidity.
* Fluctuations or movements in exchange rates may cause the value of underlying international investments to go up or down.
* This fund can be closed for new investments.
* The fund's name changed on 1 April 2004. Was previously called the Sanlam Global Trust.
* This fund is also available via certain LISPs (Linked Investment Services Providers), who levy their own fees.
* Total Expense Ratio: This fund has a TER of 1.44 and 2.83% (R and A class respectively). For the period from 1 January 2007 to 31 March 2007 1.44 and 2.83% (R and A class respectively) of the average net asset value of the portfolio were incurred as charges, levies and fees related to the management of the portfolio. The ratio does not include the cost of acquiring assets. A higher TER does not necessarily imply a poor return, nor does a low TER imply a good return. The current TER can not be regarded as an indication of future TERs.