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100

NAV on 2019/11/11
NAV on 2019/11/08 100
52 week high on 2018/11/13 100
52 week low on 2018/11/13 100
Total Expense Ratio on 2019/09/30 0.57
Total Expense Ratio (performance fee) on 2019/09/30 0
NAV Incl Dividends
1 month change 0% 0.6%
3 month change 0% 1.81%
6 month change 0% 3.75%
1 year change 0% 7.6%
5 year change 0% 7.38%
10 year change 0% 6.54%
Price data is updated once a day.
  • Sectoral allocations
Gilts 385.81 1.54%
Liquid Assets 364.43 1.46%
Money Market 24221.29 97.00%
  • Top five holdings
MM-01MONTH 4633.56 18.56%
MM-02MONTH 3311.25 13.26%
MM-05MONTH 3109.79 12.45%
MM-04MONTH 2977.05 11.92%
MM-03MONTH 2601.06 10.42%
  • Performance against peers
  • Fund data  
Management company:
STANLIB Collective Investments (RF) Limited
Formation date:
1997/05/02
ISIN code:
ZAE000021663
Short name:
U-SBKMM
Risk:
Unknown
Sector:
South African--Interest Bearing--Money Market
Benchmark:
STeFi Composite index
Contact details

Email
contact@stanlib.com

Website
http://www.stanlib.com

Telephone
011-448-6000

  • Fund management  
Ansie van Rensburg
Ansie served her articles with Theron van der Poel. She later joined Volkskas Merchant Bank as a management trainee and later as a money market trader. She was involved in the founding of CM Interbank, a money broking operation during 1987. Later appointed as an alternate director in charge of the funding operation of the NDH Bank Ltd when CMI was sold to NDH Bank Ltd. She joined SCMB Asset Management in 1991 and is a member of the investment strategy team, more specifically responsible for the investment of funds in the fixed-interest and money markets. She is currently the deputy head of fixed-interest and head of the cash management franchise at STANLIB Asset Management.
Mary Hartigan
Mary trained as a money market dealer at CM Interbank in 1989 before moving to Brait, Decillion and Grindrod Bank. She joined STANLIB’s institutional sales desk in 2008 before moving over to the dealing room as a
money market dealer and assistant portfolio manager.


  • Fund manager's comment

STANLIB Money Market Fund - Sep 19

2019/10/28 00:00:00
Fund review
For the quarter under review, the fund remained overweight floating rate notes, with a weighted average duration of 40 days at the end of September. The fund size was R24.8 billion at the end of the quarter.
Market overview
For the quarter under review, the South African Reserve Bank’s (SARB) MPC committee left the repo rate unchanged at 6.50%. The votes to keep the repo rate unchanged were unanimous. Inflation has remained around the mid-point of the inflation target, printing 4.3% year-on-year in August. Inflation expectations have moderated. However, the downside risks to growth remain and, in most sectors, are a serious concern. Growth in world trade volumes continues to decline due to trade wars between the US and China. There are risks of oil price shocks which will filter through to the fuel price in SA.
The reasons detailed for keeping the repo rate unchanged were rand depreciation of 4.6% against the dollar and a persistently uncertain environment. The governor of the SARB highlighted that the current challenges facing the economy are mostly structural and cannot be resolved by monetary policy alone. Structural reforms that raise growth and lower the cost structure of the economy remain urgent.
Looking ahead
The SARB adopted a wait-and-see stance as there are still concerns about Eskom’s restructuring, the Medium-Term Budget Statement (MTBS) which has been delayed by a week and Moody’s impending credit rating decision on SA scheduled for 1 November. Depending on the Eskom restructuring model being announced, a constructive MTBS and no downgrade from Moody’s, a further interest rate cut of 25 basis points is a possibility at the next MPC committee meeting, which takes place from 19 to 21 November.
The commentary gives the views of the portfolio manager at the time of writing. Any forecasts or commentary included in this document are not guaranteed to occur.
  • Fund focus and objective  
The STANLIB Money Market Fund's primary performance objective is to obtain as high a level of current income as is consistent with capital preservation and liquidity. Capital gains will be of an incidental nature. This portfolio may not have any direct and/or indirect foreign exposure. A well diversified portfolio of money market instruments as defined in the Act.

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