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  •  Trésor Sanlam Collective Investments Balanced Fund (B1)
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2.22  /  0.2%

1100.65

NAV on 2019/11/20
NAV on 2019/11/19 1098.43
52 week high on 2019/05/03 1124.67
52 week low on 2019/01/03 1014.65
Total Expense Ratio on 2019/06/30 2.25
Total Expense Ratio (performance fee) on 2019/06/30 0
NAV Incl Dividends
1 month change 1.46% 1.46%
3 month change 3.16% 3.16%
6 month change 1.71% 2.71%
1 year change 6.2% 8.31%
5 year change 0% 0%
10 year change 0% 0%
Price data is updated once a day.
  • Sectoral allocations
Basic Materials 8.19 3.55%
Consumer Goods 4.80 2.08%
Consumer Services 2.78 1.20%
Financials 7.07 3.06%
Fixed Interest 24.54 10.64%
General Equity 32.32 14.01%
Gilts 8.02 3.48%
Liquid Assets 5.88 2.55%
Managed 36.24 15.71%
Other Sec 28.34 12.29%
Real Estate 10.76 4.67%
Spec Equity 27.12 11.76%
Specialist Securities 27.57 11.95%
Technology 7.03 3.05%
  • Top five holdings
U-TRESEQU 32.32 14.01%
U-TRSFLEX 27.12 11.76%
U-INVT402 24.81 10.76%
U-TRINCOM 24.54 10.64%
U-PRUALLO 24.23 10.5%
  • Performance against peers
  • Fund data  
Management company:
Sanlam Collective Investments
Formation date:
2015/01/15
ISIN code:
ZAE000198891
Short name:
U-TRBALAN
Risk:
Unknown
Sector:
South African--Multi Asset--High Equity
Benchmark:
Category average for the ASISA category - South African: Multi Asset: High Equity
Contact details

Email
No email address listed.

Website
No website listed.

Telephone
021-947-9111

  • Fund management  
Koos le Roux


  • Fund manager's comment

Trésor SCI Balanced Fund - Jun 19

2019/09/06 00:00:00
The General lack of direction in the South African Equity market persisted through the second quarter of 2019. After the JSE Allshare index rose 4.2% in April it gave it all back in May, as the generally positively taken local election results were overshadowed by intensified tariff talks between the U.S and China.
June offered some relief leaving the index up just short of 4% for the quarter. Combining this with a decent first quarter, the year to date return stood at over 12% at quarter end, but in all fairness, this was off a low base and South African shares is yet to break out of the channel it has been stuck in for the last few years. It is not all doom and gloom though, as the consequences of this is the fact that there are loads of fairly priced assets up for sale, and thus the wrong time to lose nerve and lower exposure to growth assets.
We will need a catalyst to unlock the value, and timing when this will happen is unfortunately not so simple, but you do need to have the exposure when it happens. The global interconnected of assets do further complicate the problem, as the adage goes 'when America Sneezes, Emerging Markets get a cold' our market often reacts on news that is not relevant, but herein lies further opportunities to be exploited.
The rise in Equites for the quarter was led by financials, returning 5.4%, whilst bonds (as measured by the Albi index) had a great quarter showing a gain of 3.7%. Listed Property retraced some of the excessive losses from a year ago posting a return of 4.5%. The Rand strengthened about 3% against the United States Dollar, this combined with a retracement in oil prices will bring some welcome relief to petrol prices, which positive for the consumer, and ultimately economic growth prospects.
There was no significant new developments in the world that will change the course of markets in our view, with global focus still being on trade talks (which recently has been escalated to include Europe) and the consequences of Brexit in the UK. In my opinion this will mostly cause volatility but is worth monitoring to exploit market timing opportunities. In the South African market, all eyes are still on Ramaphosa to get the Economy back on track, which will be a lengthy exercise, so we expect to see some ups and downs as markets are bound to react to short term noise as is human nature.
In General, we thus remain of the opinion that Investors will be rewarded for exposing their hard-earned money to capital markets. Even though the current market is testing their patience to its extremes, a well-diversified portfolio with an appropriate amount of growth assets is currently as prudent as ever, if not more so.
  • Fund focus and objective  
The portfolio will invest in a combination of equities, bond, money market instruments, listed property as well as international equities and fixed interest investments. The portfolio will be broadly diversified across asset classes. Active asset allocation and securities selection appropriate to the needs of moderate investors will be followed. The exposure to equities will not exceed 75%.
This portfolio will be managed in accordance with regulations governing pension funds.
The investment manager will also be allowed to invest in listed and unlisted financial instruments (derivatives) as allowed by the Act from time to time in order to achieve its investment objective.
The portfolio will be managed by Tresor Wealth (Pty) Ltd. This portfolio will, at no time, duplicate any Sanlam multi asset portfolio.
The Manager shall be permitted to invest on behalf of the portfolio in offshore investments as legislation permits.
Apart from the above, the portfolio may also invest in participatory interests of portfolios of collective investment schemes registered in the Republic of South Africa or of participatory interests in collective investment schemes or other similar schemes operated in territories with a regulatory environment which is to the satisfaction of the Manager and the Trustee of a sufficient standard to provide for investor protection which is at least equivalent to that in South Africa.
For the purpose of this portfolio, the Manager shall reserve the right to close the portfolio to new investors on a date determined by the Manager. This will be done in order to be able to manage the portfolio in accordance with its mandate. The Manager may, once a portfolio has been closed, open that portfolio again to new investors on a date determined by the Manager.
The Trustee shall ensure that the investment policy set out in the preceding clauses are adhered to; provided that nothing contained in this clause shall preclude the Manager from varying the proportions of securities in terms of changing economic factors or market conditions or from retaining cash in the portfolio and/or placing cash on deposit.
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