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-0.44  /  -0.42%


NAV on 2021/09/22
NAV on 2021/09/21 104.78
52 week high on 2021/06/11 106.29
52 week low on 2020/10/06 95.21
Total Expense Ratio on 2021/06/30 0.82
Total Expense Ratio (performance fee) on 2021/06/30 0
Incl Dividends
1 month change -0.11% -0.11%
3 month change 0.35% 1.93%
6 month change 3.71% 7.25%
1 year change 6.61% 14.09%
5 year change 0% 0%
10 year change 0% 0%
Price data is updated once a day.
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  • Sectoral allocations
Liquid Assets 209.61 100.00%
  • Top five holdings
GOVTISSUPAPER 147.61 70.42%
PUBLENTISSPAP 39.30 18.75%
  • Performance against peers
  • Fund data  
Management company:
Fairtree Asset Management (Pty) Ltd.
Formation date:
ISIN code:
Short name:
South African--Interest Bearing--Variable Term
ALBI plus 1% per annum, net of fees



  • Fund management  
Paul Crawford
After graduating Paul spent 5 years at Eskom in the engineering field and then moved into the financial services industry, firstly working for Standard Corporate and Merchant Bank's interest rate productions division for 2 years and then joining the asset management industry in 1999. After 5years at RMB Asset Management, Paul moved to the newly formed Momentum Alternative Investments where he managed numerous hedge funds and specialised segregated mandates. Paul joined Fairtree in 2013 and is responsible for managing the Proton Fund, as well as setting the investment strategy for the credit team.
Fairtree Capital (Pty) Ltd
Dane Merrick

  • Fund manager's comment

Fairtree ALBI Plus Presient Comment - Dec 19

2020/02/17 00:00:00
The South African All Bond Index (ALBI) gained an impressive 1.86% during the month of December, lead in part by the R186 and R2030 bond yields ..ghtening by 20 and 18.5 bps respec..vely. Local, represented by the Top 40 total return also had a good month, returning 3.64% for investors. STEFI returned 60 basis points (bps) for the month.
The Fairtree Albi Plus Prescient Fund gained 1.81% during the month, underperforming its benchmark by 5 bps. December marked the end of a good year for both South African bonds and the Albi Plus Fund. The ALBI returned a total of 10.32% during 2019, while the Albi Plus Fund outperformed by 1.07% (in line with its mandated aim of 1% outperformance per year) and returned a total of 11.39%. Both the ALBI and the Albi Plus Fund solidly outperformed STEFI’s 7.29% yearly performance.
Looking forward, we con..nue to focus on the interest rate characteris..cs of the ALBI benchmark whilst addi..onally searching for credit
  • Fund focus and objective  
The Fairtree ALBI Plus Prescient Fund will aim to deliver a return of ALBI plus 1%, after fees, which comprises a reasonable level of income as well as capital performance relative to the benchmark. Due to the nature of the fund, the majority of the returns through the interest rate cycle will be dominated via income distribution. In order to achieve the objective the fund will invest in interest bearing and non-equity securities (including, but not limited to, bonds, cash deposits, money market and other interest-bearing securities) as well listed and unlisted financial instruments in line with the conditions as determined by legislation from time to time.
The underlying investments are actively managed and will change over time to reflect the change in interest rates. The portfolio will predominately invest in South African markets, but is however permitted to include investments in offshore jurisdictions subject to the investment conditions determined by legislation from time to time. The portfolio will be subject to the Prudential Investment Guidelines for South African Retirement Funds, being Regulation 28 of the Pension Funds Act, or such other legislation published from time to time. The portfolio may apart from assets in liquid form also include participatory interests, exchange traded funds or any other form of participation in portfolios of collective investment schemes or other similar schemes.
Where the aforementioned schemes are operated in territories other than in South Africa, participatory interests or any other form of participation in these schemes will be included in the portfolio only where the regulatory environment is to the satisfaction of the manager and trustee and is of a sufficient standard to provide investor protection at least equivalent to that in South Africa.
Nothing in the supplemental deed shall preclude the manager from varying the ratios of securities, to maximise capital growth and investment potential in changing economic environments or market conditions or to meet the requirements, if applicable, of any exchange formally recognised in terms of legislation and from retaining cash or placing cash on deposit in terms of the Deed and any Supplemental Deeds thereto; provided that the manager shall ensure that the aggregate value of the assets comprising the portfolio shall consist of securities of the aggregate value required from time to time by the Act.

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