STANLIB Income Fund
MANAGEMENT Fund Manager's Comment
Henk Viljoen, B Com (Hons), M Com, Head of Fixed-Interest STANLIB Asset Management
Henk started his career in 1984 as a bursary student at the marketing division of Telkom, moving to the treasury division after one year. Henk became an economist at Senbank in 1986, before rejoining the treasury environment in 1989 at Senbank. Henk joined Liberty Asset Management in 1990 and assumed responsibility for STANLIB's cash and fixed-interest teams in 2000. Henk is regarded as one of the best fixed-interest managers in the country due to his consistent performance in respect of STANLIB's Bond and Income Funds.
Victor Mphaphuli
Victor joined SCMB Treasury in 1996 as a trainee dealer in the foreign exchange markets and later moved to Nedcor Investment Bank as a capital markets dealer. In early 2001, he joined Libam's fixed interest team as a capital markets dealer and assistant to Henk Viljoen.
FUND OBJECTIVES AND FOCUS

The STANLIB Income Fund's primary objective is a reasonable level of current income and maximum stability for capital invested. Securities normally to be included in the portfolio will consist of fixed income securities embracing non equity securities, stock, financially sound preference shares, debenture stock, debenture bonds and unsecured notes to be acquired at fair market prices. The weighted average maturity of this portfolio may not exceed 2 years. This portfolio may not have any direct and/or indirect foreign exposure.


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WEBGRAPH
RANKING
SectorSouth African-Interest Bearing-Short Term
SizeR35,276,626,224
Sector Rank: 6 out of 30
(lump sum over 3 years to 28 February 2019)
Overall Rank: 126 out of 991
(lump sum over 3 years to 31 July 2017)
R1000 invested on 29 February 2016 was worth R 1289 at 28 February 2019
( 8.84% annual compound return)
R100 per month since 29 February 2016 was worth R 4096 at 28 February 2019
( 8.24% annual return compounded monthly)
TECHNICAL OVERVIEW
Formation Date:01 APR 1987 Holdings:61
Original Price:100 Pricing:Forward
Top Holdings on 31 July 2017
Share (Sector)No.Value% of Fund
U-SBKIMM (Money Market)2,032,980,5262,044,893,599 5.80 %
AIRNAM04 (Namibian Gilt)3,084,4903,077,964 0.01 %
BONDS (Bond)04,844,629,643 13.73 %
CASH (Cash on call)073,573,066 0.21 %
MM-06MONTH (Money Market)0846,301,433 2.40 %
TOTAL R7,812,475,70522.15%

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