•  STANLIB Multi-Manager Medium Equity Fund of Funds (B1)

-3.58  /  -1.09%

327.23

NAV on 2020/10/28
NAV on 2020/10/27 330.8137
52 week high on 2020/02/20 342.7234
52 week low on 2020/03/24 272.2241
Total Expense Ratio on 2020/06/30 1.06
Total Expense Ratio (performance fee) on 2020/06/30 0
NAV
Incl Dividends
1 month change -0.17% -0.17%
3 month change -0.85% -0.85%
6 month change 2.98% 5.04%
1 year change -1.58% 2.26%
5 year change -0.09% 3.69%
10 year change 4.65% 8.03%
Price data is updated once a day.
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  • Sectoral allocations
Bond Funds 69.70 8.37%
Fixed Interest 251.07 30.16%
General Equity 270.64 32.51%
Liquid Assets 3.76 0.45%
Real Estate 28.65 3.44%
Offshore 208.56 25.06%
  • Top five holdings
U-SLMMEQA 270.64 32.51%
O-LEEQUI 196.68 23.63%
U-STMMENY 129.53 15.56%
U-SLMMINA 121.54 14.6%
U-SMMBOND 69.70 8.37%
  • Performance against peers
  • Fund data  
Management company:
STANLIB Collective Investments (RF) (Pty) Limited
Formation date:
2002/01/02
ISIN code:
ZAE000035531
Short name:
U-SLMEDEF
Risk:
Unknown
Sector:
South African--Multi Asset--Medium Equity
Benchmark:
FTSE/JSE SWIX Index 40%, BEASSA ALBI Index 25%, STeFI Call Deposit 10%, - FTSE/JSE SAPY Index 5%, MSCI AC World IMI Index 10%, Barclays Global Multiverse Index 7%, 50% Overnight Dollar Libor Rate, 50% Overnight Euro Libor Rate 3%
Email
contact@stanlib.com

Website
http://www.stanlib.com

Telephone
011-448-6000

  • Fund management  
Malcolm Holmes
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
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 Hoosenmia
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.
Jennifer Henry
In addition to investment knowledge, Jennifer brings valuable experience and diversity to the team and it is expected that she will contribute at the highest level. Jennifer joined the team from Standard Bank Group Securities where she was an Equity Analyst covering Media, Electronic and IT stocks. She has over seven years of investment experience and has been highly rated in her area of expertise.
Nadeem Hoosen


  • Fund manager's comment

STANLIB MM Medium Equity comment - Dec 19

2020/03/02 00:00:00
Equities continued to show signs of weakness in the 3rd quarter, undoing the positive momentum that we saw in the first half of the year. Global equities produced a rand return of 7.3% for the quarter, mostly driven by the local currency losing 7.4% of its value against the US dollar. The sell-off happened in July and August when market participants became more concerned about slowing global trade as a result of the US/China trade war. Central banks tried to soften the blow by engaging in expansionary monetary policies, but their efforts fell short.
SA equities followed the global trend losing 5.1% for the quarter, driven by poor performance from resource and financial companies which lost 6.4% and 6.8% respectively. Sasol lost 27.7% of its value after it announced a second delay in its financial results pending an in-depth investigation into the Lake Charles project. Year-to-date, the company is down 39.1%. Single metal companies such as Northam, Implats, Harmony and Sibanye bucked the trend, rallying between 25% and 40% during the quarter. The fall in financials was largely on the back of poor business confidence in SA, which was at a 34-year low in August. In response, most investors have shied away from domestic equities – concerns of poor economic growth, escalating contingent claims from the state-owned companies as well as a stubbornly high unemployment rate are some of the factors that have contributed to this. The same factors drove returns in the property market, which declined 4.2% for the quarter. The presence of UK property companies in the local bourse also detracted from the market. Brexit remains a major problem for these companies. This was evident in Intu’s 39% plunge for the quarter, despite gaining 12% in September.
The STANLIB Multi-Manager Global Bond lagged the benchmark over the quarter. The portfolio’s overweight to emerging markets dragged on performance as developed markets outperformed. The short duration positioning detracted as yields contracted, particularly in August, while the relative performance recovered slightly in September
Local listed property continued to feel the strain of the difficult economic environment, retreating 4.2% during the quarter as poor economic conditions for the country continue. The presence of UK property companies in the local bourse also detracted from market performance with the continued Brexit uncertainty.
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 the SA’s deteriorating fundamentals. Cash held up strong, producing the highest return relative to other domestic asset classes.
  • Fund focus and objective  
The Fund adopts the specialist approach whereby exposure to each asset class is gained via a multi-managed building block. It is well diversified across domestic and foreign asset classes. Its main objective is to provide modest long-term growth of capital and income, with a low probability of capital loss over the short to medium term. The Fund aims to achieve CPI+4% p.a over 4-year rolling periods. The Fund is exposed to multiple best-of-breed managers, investment styles, asset classes and strategies providing investors with additional diversification benefits. The tactical exposure to each asset class is actively managed - expected total equity content of between 45% and 55%. The Fund is regulation 28 compliant.
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