STANLIB Euro Currency 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 STANLIB Euro Currency Fund of Funds aims to obtain as high a level of current income as is consistent with capital preservation and liquidity. Investments will, apart from assets in liquid form, consist solely of participatory interests of other collective investment schemes from European currency denominated fixed-interest collective investment schemes. The manager will only include foreign collective investment schemes which have been approved by the FSB to be marketed in South Africa. Initially, the foreign collective investment schemes included in the portfolio will comprise: Fidelity Funds SICAV, Fidelity Funds SICAV II, Fidelity Investments Funds OEIC and Fidelity's UK Authorised Unit Trusts. This portfolio may have a maximum of 100% direct and/or indirect foreign exposure.


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WEBGRAPH
RANKING
SectorRegional-Interest Bearing-Short Term
SizeR43,514,169
Sector Rank: 6 out of 7
(lump sum over 3 years to 31 July 2017)
Overall Rank: 769 out of 818
(lump sum over 3 years to 31 July 2017)
R1000 invested on 31 July 2014 was worth R 1008 at 31 July 2017
( 0.26% annual compound return)
R100 per month since 31 July 2014 was worth R 3643 at 31 July 2017
( 0.77% annual return compounded monthly)
TECHNICAL OVERVIEW
Formation Date:01 OCT 2002 Holdings:2
Original Price:100 Pricing:Forward
Top Holdings on 31 July 2017
Share (Sector)No.Value% of Fund
FID-EUROFUND (Cash)15331,601,850 72.62 %
CASH (Cash on call)01,449,108 3.33 %
TOTAL R33,050,95875.95%

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