OVERVIEW

Ci SA Managed Fund

31 August 2024

INFORMATION DISCLOSURE

Fund Size

R 1.3 billion

Risk Profile

Moderate - High

ASISA Classification

South African – Multi Asset – High Equity

Benchmark

SA CPI +5% per annum over a rolling 7 year period

Total Expense Ratio

0.95%

Transaction Cost

0.13%

Total Investment Charge

1.08%

Calculation Period

1 Jul 2021 to 30 Jun 2024

Foreign Exposure

No foreign exposure

Equity Exposure

The Fund will have a maximum effective exposure of 75% for equity and 25% for property.

ABOUT

Investment Objective

The Ci SA Managed Fund is an institutional multi-asset high equity portfolio. The investment objective of the portfolio is to provide investors with long term capital growth by actively managing the domestic asset allocation in the portfolio and the assets will be shifted between domestic asset classes to reflect changing economic and market conditions. The portfolio maintains a moderate to high risk profile and the portfolio’s equity exposure will be limited to a maximum of 75% of the portfolio’s net asset value. The portfolio will comply with prudential investment guidelines to the extent allowed by the Act. The Manager will seek to achieve this objective by investing in South African assets in liquid form, preference shares, convertible stock, property and equity securities and non-equity securities. The Fund may from time to time invest in listed and unlisted derivatives, in order to achieve the portfolio's investment objective.

Characteristics

This is a multi-asset high equity portfolio which means that it may invest in a spectrum of investments in the equity, bond, money, or property markets. The portfolio tends to have an increased probability of short term volatility and aims to maximise long term capital growth. The portfolio can have a maximum effective equity exposure of up to 75% and a maximum effective property exposure of up to 25% at all times.

Risk Reward Profile

Typically, the lower the risk, the lower the potential return and the higher the risk, the higher the potential return. There is no guarantee that returns will be higher when investing in a portfolio with a higher risk profile. The risk profile for this portfolio is rated as moderate to high, as it may invest up to 75% in equity securities.

ASSET ALLOCATION

UNDERLYING HOLDINGS

  • SA Direct Equity

    54.88%

  • SA Bonds

    23.00%

  • Ninety One Money Market Fund

    8.82%

  • Direct Property

    4.86%

  • SA Cash

    3.97%

  • NewGold Debentures ETF

    3.00%

  • Direct Bonds (Hedged)

    0.78%

  • 1nvest Platinum ETF

    0.69%

ANNUALISED PERFORMANCE

Highest 1 year rolling return

27.09%

Lowest 1 year rolling return

-8.59%

TOP 10 EQUITY EXPOSURES

  • 1. CF Richemont

    3.81%

  • 2. Naspers

    3.61%

  • 3. Prosus

    3.51%

  • 4. British American Tobacco

    3.37%

  • 5. Remgro

    2.70%

  • 6. Capitec

    2.69%

  • 7. Standard Bank

    2.38%

  • 8. Bid Corporation

    2.36%

  • 9. Avi

    2.30%

  • 10. BHP Group

    2.12%

Top 10 equity exposures are one month lagged.

PORTFOLIO MANAGEMENT

Portfolio Managers

This Fund is managed by Portfolio Analytics Consulting FSP no. 18490, who utilise the following Asset Managers: Coronation Fund Managers have been in the industry for over 20 years and are one of South Africa’s most successful asset managers. Coronation is authorised under the Financial Advisory and Intermediary Services Act, 2002 (act 37 of 2002) as a financial services provider, FSP number 548. Ninety One SA (Pty) Limited have 23 years’ experience in the financial services industry, providing a premier range of South African and international product and services. Ninety One is authorised under the Financial Advisory and Intermediary Services Act, 2002 (act 37 of 2002) as a financial services provider, FSP number 587.

Management Company

The portfolios are hosted and administered by Ci Collective Investments (RF) (Pty) Ltd ("Ci"). Ci is owned by a number of like-minded boutique multi-managers and managed by a team of experts, each with significant experience in the collective investments industry. Ci is approved by the FSCA as a manager in terms of the Collective Investment Schemes Control Act.

ADDITIONAL INFORMATION

Launch Date

25 November 2014

Opening Nav Price

100.00 cents per unit

Fund Size

R 1.3 billion

Initial Fee

Class A: 0%

Initial Advisory Fee Maximum

Maximum 3.45% (Incl VAT)

Annual Service Fee

Class A: 0.920% (Incl VAT)

Annual Advisory Fee Maximum

Maximum 1.15% (Incl VAT)

Total Expense Ratio

0.95%

Transaction Cost

0.13%

Total Investment Charge

1.08%

Calculation Period

1 Jul 2021 to 30 Jun 2024

Income Declaration Dates

30 June & 31 December

Last 12 Month Distributions

28/06/2024: (A) 3.49, 29/12/2023: (A) 3.21

Income Reinvestment / Payout Dates

2nd working day in July & January

Transaction cut-off time

14:00

Valuation Time

17:00

Frequency of pricing

Our daily NAV prices are published on our website and in the national newspaper

ASISA Classification

South African – Multi Asset – High Equity