SIM Value Fund
MANAGEMENT Fund Manager's Comment
Ricco Friedrich, B Bus Sc (Finance); CA; CFA
* 1998: Completed articles at Grant Thornton Kessel Feinstein * Joined Franklin Asset Management (senior research analyst) * Joined SIM in 1999 on the industrial team as an equity analyst * 2002 - 2006: Head of small caps at Sanlam Investment Management * Current: Head of unconstrained equities
Claude van Cuyck, BCom (Hons), CFA
Claude completed his B.Com degree at Rhodes University and B.Com Honours degree from UNISA. He is also a CFA. He joined Karlein Independent Investment Consultancy (KIIC) in 1993 as a trainee portfolio manager. He subsequently joined SIM (then Gensec Asset Management) as senior analyst: equities. * Joined Sanlam Asset Management in 1994 as an equity analyst. * In 1998 joined Gryphon Asset Management as a portfolio manager and analyst (running unit trusts and pension fund portfolios as well as retaining research responsibilities). * Returned to SIM in 2002. * Head of equities at Sanlam Investment Management. * Has researched a number of sectors across the JSE in the 14 years that he has been an analyst/ portfolio manager. * Currently runs the Sanlam General Equity unit trust, after managing the Industrial unit trust for a number of years. * Member of SIM's model portfolio group that sets the equity house view and the asset allocation house view.
FUND OBJECTIVES AND FOCUS

The fund has the primary objective of growth, by investing in a medium with a reasonable level of current income and relative stability for capital. The fund focus on achieving this objective by investing in financially sound companies which offer exceptional value. These include shares with a low price to earnings ratio, shares trading at a discount to their net asset value, and shares whose prices do not reflect future earnings potential. The investor most likely to invest in this fund is the more knowledgeable investor following an investment approach of seeking value.


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WEBGRAPH
RANKING
SectorSouth African-Equity-General
SizeR2,089,181,480
Sector Rank: 112 out of 121
(lump sum over 3 years to 31 July 2017)
Overall Rank: 792 out of 818
(lump sum over 3 years to 31 July 2017)
R1000 invested on 31 July 2014 was worth R 939 at 31 July 2017
( -2.07% annual compound return)
R100 per month since 31 July 2014 was worth R 3493 at 31 July 2017
( -1.96% annual return compounded monthly)
TECHNICAL OVERVIEW
Formation Date:01 OCT 1998 Holdings:56
Original Price:200 Pricing:Forward
Top Holdings on 31 July 2017
Share (Sector)No.Value% of Fund
ANGLO (Mining)425,373108,733,846 5.20 %
RICHEMONT (Personal Goods)435,85048,706,238 2.33 %
NASPERS-N (Media)31,600109,051,600 5.22 %
DERIVATIV (Derivatives)023,392,595 1.12 %
OLDMUTUAL (Life Insurance)2,147,14881,591,624 3.91 %
ORACLE (Technology)110,80964,859,433 3.10 %
NETCARE (Health Care Equipment - Services)1,360,14034,207,521 1.64 %
ALTRON (Electronic - Electrical Equipment)4,447,00253,719,784 2.57 %
CASH (Cash on call)038,648,062 1.85 %
O-SNGLFIN (Offshore Intern)722,336191,850,151 9.18 %
EOH (Software - Computer Services)56,8833,836,190 0.18 %
TOTAL R758,597,04436.3%

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