STANLIB Enhanced Yield Fund
MANAGEMENT Fund Manager's Comment
Ansie van Rensburg, B Com (Hons) Economics
Ansie served her articles with Theron van der Poel. She later joined Volkskas Merchant Bank as a management trainee and later as a money market trader. She was involved in the founding of CM Interbank, a money broking operation during 1987. Later appointed as an alternate director in charge of the funding operation of the NDH Bank Ltd when CMI was sold to NDH Bank Ltd. She joined SCMB Asset Management in 1991 and is a member of the investment strategy team, more specifically responsible for the investment of funds in the fixed-interest and money markets. She is currently the deputy head of fixed-interest and head of the cash management franchise at STANLIB Asset Management.
FUND OBJECTIVES AND FOCUS

The investment objective of the portfolio is to maximise the current level of income within the restrictions set out in the investment policy, while providing maximum stability of capital. The portfolio will aim to achieve performance returns in excess of money market yields and current account yields. The portfolio will invest its assets in South African markets at all times and will be permitted to invest in a flexible mix of non-equity securities, including but not limited to money market instruments, bonds, fixed deposits, listed debentures, preference shares and other high yielding securities. In respect of the flexible nature of this portfolio, the portfolio may thus be fully invested in any of the abovementioned asset classes at any particular time, while complying with the stated duration and tenor limitations. The maximum average weighted duration of the portfolio is 180 days and the maximum tenor for any one instrument is 36 months. The portfolio may from time to time invest in financial instruments. The portfolio will not be permitted to invest its assets in foreign investment markets.


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WEBGRAPH
RANKING
SectorSouth African-Interest Bearing-Short Term
SizeR3,684,196,194
Sector Rank: 21 out of 27
(lump sum over 3 years to 31 July 2017)
Overall Rank: 306 out of 818
(lump sum over 3 years to 31 July 2017)
R1000 invested on 31 July 2014 was worth R 1222 at 31 July 2017
( 6.92% annual compound return)
R100 per month since 31 July 2014 was worth R 4037 at 31 July 2017
( 7.33% annual return compounded monthly)
TECHNICAL OVERVIEW
Formation Date:11 OCT 2006 Holdings:48
Original Price:0 Pricing:Forward
Top Holdings on 31 July 2017
Share (Sector)No.Value% of Fund
IBL82 (Bond)200,000,000203,591,638 5.53 %
CASH (Cash on call)0361,231,902 9.80 %
MM-02MONTH (Money Market)0303,700,935 8.24 %
TOTAL R868,524,47523.57%

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