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  •  Sage Sanlam Collective Investments Long Term Solution FoF (A2)

12.83  /  0.55%


NAV on 2021/09/21
NAV on 2021/09/20 2302.51
52 week high on 2021/09/01 2380.34
52 week low on 2020/10/30 1947.47
Total Expense Ratio on 2021/06/30 1.69
Total Expense Ratio (performance fee) on 2021/06/30 0
Incl Dividends
1 month change -2.16% -2.16%
3 month change 0.69% 1.06%
6 month change 0.56% 1.79%
1 year change 15.95% 18.29%
5 year change 4.23% 6.55%
10 year change 6.48% 8.66%
Price data is updated once a day.
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  • Sectoral allocations
General Equity 97.73 14.92%
Liquid Assets 7.00 1.07%
Managed 491.00 74.97%
Offshore 59.19 9.04%
  • Top five holdings
U-SMMILOQ 125.87 19.22%
U-BATELEU 100.51 15.35%
U-MANAPPS 99.94 15.26%
U-PPSBINX 99.31 15.16%
U-FAIRTRE 97.73 14.92%
  • Performance against peers
  • Fund data  
Management company:
Sanlam Collective Investments
Formation date:
ISIN code:
Short name:
South African--Multi Asset--High Equity
CPI for all urban areas plus 7% gross of fees
No email address listed.

No website listed.


  • Fund management  
Rafiq Taylor
Sage Wealth Management Proprietary Limited

  • Fund manager's comment

Sage SCI* Long Term Solution FoF - Dec 19

2020/02/28 00:00:00
The FoF is a combination of underlying managers with diverse skill-sets from various ASISA categories to build an optimal high equity portfolio. The combination of managers strikes a balance between the CPI+7% benchmark of the FoF, and its objective not to lose money over 24 months.
There were no manager changes over the quarter. More than two thirds of the FoF is invested in equities (mainly SA equities, but foreign equities too) with the remainder largely invested in SA cash and SA bonds. The FoF makes use of both active and passive strategies to improve on its ability to deliver on its return and capital protection objectives.
Over the past year the FoF outperformed its CPI+7% p.a. objective, helped by a partial reorientation from SA equities (which returned 6.8% p.a.) to foreign equities (up 19.9%). Over the three-year investment horizon of the FoF, however, the underwhelming performance of SA equities (up just 3.5% p.a.) has contributed to the underperformance of the FoF relative to its CPI+7% benchmark.
South African economic growth surprised on the downside in 2019, and is vulnerable to further weakness. Recent changes to the FoF have reduced its dependence somewhat on SA equity market performance, although the performance of the SA equity market remains an important factor in achieving the FoF's objective.
  • Fund focus and objective  
The objective of the Sage Sanlam Collective Investments Long Term Solution Fund of Funds is to secure steady growth of capital over a longer term of more than 3 years, and to offer a return of at least CPI plus 7% over a rolling five year period. The portfolio will aim never to have a negative return over any two years.
The investment manager, Sage Wealth Management (Pty) Ltd follows the multi manager style of investing and will invest the portfolio in participatory interests of various collective investment schemes managed by different specialist investment managers. The target of CPI plus 7% will be achieved through the construction of a portfolio with a strategic asset allocation appropriate for a CPI plus 7% return objective.
The objective will be achieved by investing in assets in liquid form, and participatory interests or any other form of participation in portfolios of collective investment scheme portfolios or other similar collective investment schemes the Act may allow from time to time, managed by specialist investment managers. In line with the multi manager investment philosophy, the portfolio will be constructed to achieve diversification across different asset classes as well as different investment managers and investment processes. The philosophy therefore categorically excludes the possibility of the portfolio only investing in underlying collective investment schemes of just one manager. Key value propositions are the selection of multiple specialist investment managers as well as the combination of these managers into optimal portfolio structures in order to achieve the investment objective.
The strategic asset allocation will be achieved by combining participatory interests of collective investment scheme portfolios managed by specialist investment managers who use different and uncorrelated investment strategies.
The portfolio will be investing in participatory interests of portfolios which provide exposure to a flexible combination of equity, bonds, money market instruments, non-equity and property, as well as to various absolute return investment strategies.
The asset allocation will be actively managed by the multi-manager to reflect its view of the changing economic and market conditions. The portfolio will have an equity exposure of between 0% - 75%, depending on the investment manager's investment strategy for a CPI plus 7% return objective at the time. This portfolio is part of a range of risk profiled, multi managed fund of funds portfolios and the SMMI house view tactical asset allocation given specific market conditions will be applied uniformly to the range of portfolios. Therefore, should the house view be bullish on equities, the tactical allocation to equities will increase across the range of portfolios in line with their respective maximum equity exposure limitations, whilst equities exposure will decrease uniformly across all three portfolios should the house view be bearish on equities. Given the application of the SMMI house view exposure approach it is highly unlikely that these portfolios will ever have similar effective equity exposures.
The portfolio will obtain offshore exposure through investment in participatory interests of collective investment schemes approved in terms of the Act.
This portfolio will comply with regulations governing pension funds.

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