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-0.02  /  -0.02%


NAV on 2021/09/16
NAV on 2021/09/15 116.0034
52 week high on 2021/08/23 118.0033
52 week low on 2020/10/30 109.8254
Total Expense Ratio on 2021/06/30 1.32
Total Expense Ratio (performance fee) on 2021/06/30 0
Incl Dividends
1 month change -1.03% -1.03%
3 month change 1.8% 2.33%
6 month change 1.01% 1.83%
1 year change 1.94% 3.88%
5 year change 2.64% 5.35%
10 year change 0% 0%
Price data is updated once a day.
Click and drag to zoom in on timeline.
  • Sectoral allocations
Derivatives 3.91 9.95%
Fixed Interest 15.49 39.43%
Liquid Assets 2.33 5.93%
Managed 3.14 7.99%
Real Estate 0.75 1.90%
Spec Equity 0.26 0.67%
Specialist Securities 4.39 11.19%
Offshore 9.01 22.94%
  • Top five holdings
U-CIDIVIN 7.79 19.83%
U-SLINCR 7.70 19.6%
DERIVATIV 3.91 9.95%
U-ANCAFIF 3.14 7.99%
U-CSGLPRO 2.34 5.95%
  • Performance against peers
  • Fund data  
Management company:
Ci Collective Investments (RF) Prop Ltd.
Formation date:
ISIN code:
Short name:
South African--Multi Asset--Low Equity
CPI for all urban areas +2% pa over any rolling 3 year period


011 463 5656

  • Fund management  
1st Fusion Asset Management (Pty) Ltd.
Chris Marais
James Twidale

  • Fund manager's comment

1st Fusion Ci Guarded comment - Sep 19

2019/10/21 00:00:00
Guarded is primarily a strategic asset allocation fund, which means that we adhere closely to a long-term asset allocation. We hold a basket of assets which have unique and complimentary risk and return characteristics, ensuring that we achieve our benchmark of CPI+2% per annum over a rolling 3 year period.
The Guarded Fund is somewhat less exposed to equity than its Multi Asset Low Equity peer group – it’s very defensive nature should bring it to the fore during tough times.
The fund blends actively managed sub-funds by best of breed fund management teams with some passive building blocks to ensure that the funds’ overall strategic objectives are met. The blending of various strategies entails sophisticated qualitative and quantitative analysis to ensure that you get the benefits of each management team without diluting the overall fund style.
1st Fusion has a meaningful strategic exposure to SA property – in a conservative multi-asset fund like this the predictable short-term income and significant longer-term inflation escalations make it a uniquely valuable asset class.
We currently utilise Coronation, Investec, Prudential, Allan Gray and Satrix to manage 80% of the fund. The remaining 20% is managed in house, balancing out our strategic asset class allocations.
  • Fund focus and objective  
Investments to be included in the portfolio may, apart from assets in liquid form, consist of equity securities, non-equity securities, convertible stock, preference shares and property securities as well as any other securities which are considered consistent with the portfolio's primary objective and that the Act may allow from time to time.
The portfolio may also include participatory interests in portfolios of collective investment schemes or other similar 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 investor protection which is at least equivalent to that in South Africa.
The portfolio may from time to time invest in listed and unlisted financial instruments, in accordance with the provisions of the Act, and the Regulations thereto, as amended from time to time, in order to achieve the portfolio's investment objective. The Manager will be permitted to invest on behalf of the portfolio in offshore investments as legislation permits.

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