STANLIB Moderate Fund of Funds
MANAGEMENT Fund Manager's Comment
Paul Hansen, B Com, MBA,
After completing his articles at Alex Aitken and Carter he joined UAL Merchant Bank in 1979, initially assisting as a portfolio manager and later working as an investment analyst. After completion of a full time MBA he relocated to the USA where he spent nine years as a stockbroker/financial consultant, mostly with Shearson Lehman Bros. He returned to South Africa in 1992 and joined Old Mutual Invesments with involvement in portfolio management and client report backs. He joined SCMB Asset Management division in 1995, after a stint in portfolio management at RMB Asset Management. Paul Hansen is responsible for managing the onshore portion and Fidelity Investment Managers the offshore portion.
FUND OBJECTIVES AND FOCUS

The primary investment objective of the portfolio will be to achieve income generation and capital growth over the longer term at a moderate risk of short-term volatility of capital values. Investments to be included in the portfolio will, apart from assets in liquid form, consist solely of participatory interests of portfolios of the STANLIB Collective Investment Scheme. The portfolio will not invest in participatory interests of portfolios where the value of the foreign assets included in such portfolio exceeds 10% of the net asset value of such portfolio. The following asset allocation limitations will apply to the portfolio - Equity Funds: 45% to 55%, Property Funds: 0% to 20%, Bond Funds: 20% to 30%, Money Market and Income Funds: 15% to 25% of the value of the portfolio.


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WEBGRAPH
RANKING
SectorSouth African-Multi Asset-Medium Equity
SizeR685,066,755
Sector Rank: 52 out of 53
(lump sum over 3 years to 31 July 2017)
Overall Rank: 712 out of 818
(lump sum over 3 years to 31 July 2017)
R1000 invested on 31 July 2014 was worth R 1067 at 31 July 2017
( 2.18% annual compound return)
R100 per month since 31 July 2014 was worth R 3817 at 31 July 2017
( 3.77% annual return compounded monthly)
TECHNICAL OVERVIEW
Formation Date:25 JUL 2005 Holdings:9
Original Price:100 Pricing:Forward
Top Holdings on 31 July 2017
Share (Sector)No.Value% of Fund
U-SLBOND (Gilt)54,361,06394,780,950 13.84 %
U-SLINCR (Income)82,211,338113,102,759 16.51 %
U-SLUS$CA (For Currency)12,19916,513 0.00 %
U-SLINDXR (General Equity)10,411,06999,414,653 14.51 %
CASH (Cash on call)02,203,438 0.32 %
U-SLIPROP (Property Unit Trusts)9,700,14940,086,435 5.85 %
U-SLALSIA (Large Cap)8,779,95552,040,716 7.60 %
TOTAL R401,645,46458.63%

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