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-33  /  -1.03%


NAV on 2021/09/22
NAV on 2021/09/21 3239.49
52 week high on 2020/09/28 3550.9
52 week low on 2021/06/04 3001.54
Total Expense Ratio on 2021/06/30 1.59
Total Expense Ratio (performance fee) on 2021/06/30 0
Incl Dividends
1 month change -3.45% -3.45%
3 month change 0.65% 0.65%
6 month change 0.36% 0.36%
1 year change -8.02% -8.02%
5 year change 4.94% 4.94%
10 year change 9.88% 9.88%
Price data is updated once a day.
Click and drag to zoom in on timeline.
  • Sectoral allocations
Liquid Assets 0.50 0.77%
Offshore 64.12 99.23%
  • Top five holdings
O-IOGBON 40.28 62.34%
O-SNUNIEQ 22.13 34.24%
O-SGLBPRO 0.50 0.77%
  • Performance against peers
  • Fund data  
Management company:
Sanlam Collective Investments
Formation date:
ISIN code:
Short name:
Global--Multi Asset--Low Equity
30% MSCI World Index and 70% Barclays Global Aggregate Index
No email address listed.

No website listed.


  • Fund management  
Sanlam International Investments

  • Fund manager's comment

Sanlam Global Cautious Fund of Funds - Dec 15

2016/03/16 00:00:00
The fourth quarter of 2015 would have appeared to be an easier quarter for investors, if one looked at the direction of equity markets. However, the quarter was a challenging one. The global economic picture that had started to soften during the third quarter continued to weaken into the fourth quarter. This led certain investors to identify May 2015 as the beginning of a bear market, creating a bearish sentiment in the market, which has been influencing the market's view of where to invest. The apparent declining level of Chinese economic activity remains an issue, and one that has attracted increasing concern. The quarter will probably be remembered, though, as the one in which the US Federal Reserve finally raised interest rates. In December the US Federal Reserve raised interest rates by 0.25% to 0.50%. This was the first US Federal Reserve interest rate rise since 2006. Another major factor during the quarter was the further decline in the oil price, which had appeared to have very broadly stabilised around the $50 a barrel level, but decreased further in the period. This took the oil price well below $40 and on its way towards $30. The quarter saw some mild rises in volatility, all of which reflected the market's increased nervousness.
For the quarter, global equity markets as measured by the MSCI World Index rebounded strongly after the weak, or rather dismal as some might put it, third quarter; the index rose 5.50%[1]. The strong performance can be quite safely called a rebound in that the positive performance was only due to the month of October where the index rose 7.92%. The subsequent months of November and December saw markets capitulating again with returns of -0.50% and -1.76% respectively. 2015 proved to be a volatile year with global growth and a Chinese slowdown at the forefront of concerns. For the calendar year the index returned -0.87% - hence equities effectively delivered a flat return for 2015.
During the quarter global bond markets declined 0.92%, which suggested that the positive return in the third quarter was potentially an exception to the pattern of negative absolute returns. The global bond market rose very modestly during October, but then fell by nearly 1.7% in November, before regaining some of that loss in December, but not nearly enough to return to positive territory. For 2015 as a whole global bond markets declined by over 3%, thus indicating that despite global equity markets' mild negative absolute return they still outperformed global bond markets. With the US Federal Reserve's interest rate tightening cycle underway investors are now increasingly cautious about the bond market. In the corporate bond market, the Barclays Capital Global Aggregate Corporate Index returned -0.82% for the quarter. This meant that it marginally outperformed the wider global bond markets, but at the same time could not avoid the negative sentiment around the bond market in general. For 2015 corporate bonds declined by almost 3.6%, and therefore they underperformed the broader market.
  • Fund focus and objective  
The Sanlam Global Cautious Fund of Funds is a diversified portfolio in terms of assets classes and has a high exposure in less volatile asset classes such as cash and fixed-interest securities.
The fund is suitable for investors that want to invest in international markets but choose to do so through a less volatile and lower risk option.
It aims to provide investors with long-term capital preservation and capital growth qualities, in dollar terms and is positioned for investors that requires international exposure but with a lower risk appetite.

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