NAV on 2020/10/23
|NAV on 2020/10/22
|52 week high on 2019/10/31
|52 week low on 2020/03/24
|Total Expense Ratio on 2020/06/30
|Total Expense Ratio (performance fee) on 2020/06/30
STANLIB Collective Investments (RF) (Pty) Limited
South African--Multi Asset--Flexible
FTSE/JSE SA Listed Property index (SAPY)
Malcolm Holmes has 11 years investment experience and has been a portfolio manager in his own right, which makes him the perfect candidate to oversee the evaluation of the underlying managers and their portfolios. As the head portfolio manager, Malcolm is the key person responsible for product development and design at STANLIB Multi-Manager. He is responsible for ensuring that our products meet their investment objectives and that the underlying managers meet their mandates.
STANLIB Multi-Manager was established in 1999 and is the centre of excellence for multi-managed solutions within STANLIB. The investment team, led by Chief Investment Officer Joao Frasco, consists of an experienced team with a diverse set of investment skills. We have offices in Johannesburg and London, and currently have mandates in excess of R90 billion under stewardship. STANLIB Multi-Manager Funds are designed to deliver superior investment returns more consistently than through a single asset manager or mandate. Our approach allows investors’ to outsource the fund / manager selection decision, which includes the ongoing due diligence of managers and construction of portfolios, to meet pre-defined objectives over time. Risk management is a fundamental component of our investment philosophy and process and is therefore approached holistically. It permeates every part of our investment process, requiring participation and accountability from all individuals involved in the process.
Naweed joined the STANLIB Multi-Manager Research and Development Team at as a Quantitative Analyst. Prior to STANLIB, Naweed was a Portfolio Risk Analyst at Eminence Partners, a Johannesburg-based long/short equity hedge fund operated under the Peregrine fund platform.
Richo transferred to the Multi-Manager Research and Development Team from within STANLIB. He started his career at STANLIB as a Portfolio Compliance Manager before starting and heading up the STANLIB Implementation Team. The team subsequently merged into the STANLIB Risk, Analytics and Implementation Team and his role broadened to include risk management and analytical related responsibilities. Prior to STANLIB, Richo worked within the Collective Investments Schemes Department at the Financial Services Board. He started his career in 2004 at Life Healthcare as an Information Analyst.
STANLIB M/M Flexible Property - Dec 19
Local listed property continued to feel the strain of the difficult economic environment, retreating 4.2% for the quarter. Concerns around poor economic growth, escalating cash requirements from the state-owned companies and a stubbornly high unemployment rate are some of the factors that contributed to this. The presence of UK property companies in the local bourse also detracted from market performance. Brexit remains a major problem for these companies, which was evident in Intu’s 39% plunge for the quarter. Global property has had exceptional performance, returning 13% for the quarter and 28% year-to-date.
SA bonds returned 0.7% for the quarter while SA cash gained 1.8%. The bond performance was largely driven by the short end of the curve. The SA 10-year government bond sold-off from 8.08% in June to 8.32% in September as investors demanded a higher return as compensation for SA’s deteriorating fundamentals. Cash held up strong, producing the
The Fund is a diversified income portfolio with a bias to listed property shares. It will be invested in domestically listed property shares, as well as other high-yielding income producing assets (namely bonds and money market instruments); with the flexibility to adjust the property weight according to market conditions.
It aims to generate a reasonably high level of income and moderate capital growth.
Given that it has around 40% and 85% exposure to listed property, with the balance exposed to fixed interest securities, it will be a more conservative Fund than a fully invested property portfolio. Through time, the Fund is designed to provide most of the upside of listed property with significantly less volatility.