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0.12  /  0.07%


NAV on 2021/09/23
NAV on 2021/09/22 176.6524
52 week high on 2021/08/31 178.9486
52 week low on 2020/11/02 159.1407
Total Expense Ratio on 2021/06/30 1.3
Total Expense Ratio (performance fee) on 2021/06/30 0
Incl Dividends
1 month change -0.9% -0.9%
3 month change 1.26% 2.13%
6 month change 3.79% 5.76%
1 year change 8.52% 12.55%
5 year change 2.72% 6.89%
10 year change 4.09% 8.4%
Price data is updated once a day.
Click and drag to zoom in on timeline.
  • Sectoral allocations
Basic Materials 334.79 3.88%
Bond Funds 146.16 1.69%
Consumer Discretionary 263.36 3.05%
Derivatives 0.24 0.00%
Energy 29.37 0.34%
Financials 375.55 4.35%
Fixed Interest 627.44 7.27%
Gilt 0.37 0.00%
Health Care 57.32 0.66%
Industrials 21.84 0.25%
Liquid Assets 66.43 0.77%
Real Estate 587.79 6.81%
SA Bonds 3281.29 38.04%
Technology 381.87 4.43%
Telecommunications 102.72 1.19%
Offshore 2349.92 27.24%
  • Top five holdings
STAHIGHALGLB 903.56 10.47%
U-SLINCR 558.34 6.47%
U-SLPROPI 535.92 6.21%
O-SBEUGRO 455.79 5.28%
O-SBSEASI 445.64 5.17%
  • Performance against peers
  • Fund data  
Management company:
STANLIB Collective Investments (RF) (Pty) Ltd
Formation date:
ISIN code:
Short name:
South African--Multi Asset--Low Equity
30% FTSE/JSE Shareholders Weighted Index SWIX; 20% BEASSA All Bond Index; 45 STEFI Composite Index, 5% Property Index SAPI



  • Fund management  
Herman van Velze
With a mining engineering background, Herman started his asset management career in 1993 as a mining analyst. Winner of several awards in 2007, he has successfully managed the STANLIB Balanced Fund since 2005 and is currently Head of Balanced Funds.
Warren Buhai
Following 5 years in corporate finance at Standard Bank, Warren joined STANLIB in 2005 where he initially specialised in resources analysis and portfolio management. He has been a portfolio manager in the Multi-Asset Franchise since 2009.

  • Fund manager's comment

STANLIB Balanced Cautious Fund - Dec 19

2020/03/02 00:00:00
Fund review
The STANLIB Balanced Cautious Fund delivered a return of +1.4% for the quarter ended 30 September 2019.
Market overview
Global assets continued their recovery from 2018 levels, as equities and fixed income markets continued where they left off in the first six months of the year. Recent comments and actions from central banks added to the positive sentiment prevailing in equities and bonds. Global equities delivered a strong performance year to date (+23.8% in rand terms), MSCI EM (+16.1% in rand terms) and the FTSE/JSE SWIX All Share Index (+4.3%). The Resource Sector remain the biggest positive contributor to SA performance, with a YTD performance of +13%. SA bonds also delivered positive returns in September, taking YTD performance for the ALBI to 8.4%, while the rand depreciated by a disappointing -7.1% against the dollar for the quarter.
Looking ahead
The outlook for 2019 has weakened from a global growth perspective, however a positive feature is the continued lack of inflationary pressure globally, allowing central banks to maintain accommodative monetary policies, which should act as a tailwind for risk assets. SA and Emerging Market equities have been supported by the Fed’s dovish stance (this should limit further dollar strength) and selective stimulus by Chinese policymakers, while uncertainty around US-China trade talks has swayed market sentiment. In SA, the SARB reacted to slow growth and low levels of business and consumer confidence by reducing interest rates by 0.25% during Q3. We expect further easing in Q4. Lower interest rates and positive developments such as the restructuring and refinancing of Eskom together with further fiscal policy announcements should be mildly positive for growth in the medium term.
  • Fund focus and objective  
To achieve a reasonable level of current income and long-term capital growth at average risk
levels whilst complying with the prudential investments guidelines.
The portfolio will consist of a diversified spread of investments in securities and non-equity
securities, in a manner which is similar to that usually employed by retirement schemes with
maximum equity exposure of 40%. The portfolio may also invest in participatory interest and other
forms of participation in portfolios of collective investment schemes or other similar schemes
operated in territories with regulator environment which is to the satisfaction of the manager and
trustee of a sufficient standard to provide investor protection at least equivalent to that in South

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