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-0.75  /  -0.47%


NAV on 2019/05/22
NAV on 2019/05/21 161.2586
52 week high on 2018/09/05 170.2185
52 week low on 2018/05/24 137.0725
Total Expense Ratio on 2019/03/31 1.62
Total Expense Ratio (performance fee) on 2019/03/31 0
NAV Incl Dividends
1 month change 2.06% 2.06%
3 month change 2.81% 2.81%
6 month change 4.61% 4.61%
1 year change 15.53% 15.53%
5 year change 5.74% 5.74%
10 year change 5.03% 5.03%
Price data is updated once a day.
  • Sectoral allocations
Liquid Assets 9.96 3.07%
Offshore 314.27 96.93%
  • Top five holdings
FID-USDOLLAR 236.24 72.86%
FID-USFUNDIST 78.03 24.07%
  • Performance against peers
  • Fund data  
Management company:
STANLIB Collective Investments (RF) Limited
Formation date:
ISIN code:
Short name:
Regional--Interest Bearing--Short Term
90% 3-month US Dollar Libor; 10% STeFI Composite index
Contact details




  • Fund management  
Henk Viljoen
Henk started his career in 1984 as a bursary student at the marketing division of Telkom, moving to the treasury division after one year. Henk became an economist at Senbank in 1986, before rejoining the treasury environment in 1989 at Senbank. Henk joined Liberty Asset Management in 1990 and assumed responsibility for STANLIB's cash and fixed-interest teams in 2000. Henk is regarded as one of the best fixed-interest managers in the country due to his consistent performance in respect of STANLIB's Bond and Income Funds.

  • Fund manager's comment

STANLIB USD Currency Fund of Funds - Apr 18

2018/05/29 00:00:00
The USD dollar currency fund returned -3.41% in rand terms for the first quarter of 2018 compared to the benchmark return of -3.64%.
The $5.7 billion Fund, managed by Fidelity Worldwide Investment, is a triple A rated stable net asset value liquidity fund, with a focus on security and diversification of risk, whilst delivering a return in line with money market rates. The rating is the highest possible money market rating for a money market fund by Moody’s and Standard & Poor’s.
The Rand gained significant ground during the first quarter as former president Jacob Zuma resigned and Cyril Ramaphosa was elected as the new president of South Africa. The Rand closed the quarter off at R11.84 to the US Dollar after trading at R12.38 at the end of 2017. This however resulted in the fund making negative returns in rand terms. The Rand is still volatile due to economic uncertainty and a low growth environment in South Africa. Moody’s affirmed South Africa’s investment grade rating at the end of March and changed its credit outlook to stable from negative.
The final estimate of fourth quarter US GDP came in at 2.9%, up from the previously reported 2.5%. This was largely due to higher inventory build-up than previously estimated. Core personal consumption expenditure, the US Federal Reserve’s preferred measure of inflation, rose to 1.6% in the 12 months through February, but remains below its 2.0% target. US consumer confidence declined and was below expectations in March, indicating less optimism about current business conditions and dampened prospects for the next six months. However, consumer spending rose for the second straight month in February. On the policy front, the Fed increased the interest rate range to 1.50–1.75% at its March meeting. This was the first interest rate hike under new Fed Chairman Jerome Powell. The fund continues to focus on high quality issuers, with about 54% invested in entities rated Aa3 or higher. The fund’s weighted average maturity was increased to 40 days from 21 days previously. The fund continues to invest mainly in commercial paper and certificates of deposit with investment companies and banks.
  • Fund focus and objective  
The STANLIB USD Currency Fund of Funds' main objective is long-term growth of capital and income. Investments will, apart on assets in liquid form, consist solely of participatory interests of collective investment schemes, which invest, principally in US dollar-denominated fixed-interest portfolios. Initially, these foreign collective investment schemes will include: Fidelity Funds SICAV, Fidelity Funds SICAV II, Fidelity Investments Funds OEIC and Fidelity's UK Authorised Unit Trusts. This portfolio may have a maximum of 100% direct and/or indirect foreign exposure.
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