OVERVIEW

Synergy Ci Conservative Fund of Funds
April 2024

INFORMATION
DISCLOSURE

Calculation Period
1 Jan 2021 to 31 Dec 2023
Benchmark
Average of the ASISA SA Multi-Asset Low Equity category
ASISA Classification
South African – Multi Asset – Low Equity
Total Investment Charge
Class A: 1.35%, Class B: 1.30%
Foreign Exposure
Up to 45%
Risk Profile
Low
Transaction Cost
Class A: 0.03%, Class B: 0.03%
Fund Size
R 280.9 million
Total Expense Ratio
Class A: 1.32%, Class B: 1.27%

About

Investment Objective
The portfolio seeks to provide investors with income and conservative capital growth with a focus on capital preservation. The portfolio maintains a low risk profile and the portfolio's equity exposure will be limited to a maximum of 40% of the portfolio's net asset value. The portfolio will comply with prudential investment guidelines to the extent allowed by the Act. The portfolio may invest in derivatives for the exclusive purpose of hedging exchange rate risk to which assets are directly exposed.
Characteristics
This is a multi-asset low equity portfolio which means that it may invest in a spectrum of investments in the equity, bond, money, or property markets. This portfolio tends to display reduced short term volatility, aim for long term capital growth and can have a maximum effective equity exposure (including international equity) of 40% and a maximum effective property exposure (including international property) of 25% of the market value of the portfolio at all times. This portfolio may, at the discretion of the portfolio manager, invest up to 45% of the assets outside of South Africa. A fund of funds is a portfolio that invests in portfolios of collective investment schemes, which levy their own charges, which could result in a higher fee structure for the fund of funds.
Risk Reward Profile
Typically, the lower the risk, the lower the potential return and the higher the risk, the higher the potential return. There is no guarantee that returns will be higher when investing in a portfolio with a higher risk profile. The risk profile for this portfolio is rated as low, as it may only invest up to 40% in equity securities, both locally and abroad.

ASSET
ALLOCATION

Bonds
41.8%
Foreign Equity
29.38%
Cash
10.92%
Equity
9.2%
Property
7.6%
Foreign Cash
0.51%
Commodities
0.35%
Foreign Property
0.24%

UNDERLYING
HOLDINGS

Global Flexible Growth Fund
30.12%
Ci Diversified Income Fund
23.42%
Ninety One Corporate Bond Fund
13.88%
Ci SA Cautious Fund
12.92%
ABAX SA Absolute Prescient Fund
7.65%
Ci Property Fund
7.25%
Ci Equity Fund
3.90%
SA Cash
0.85%
Global Cash
0.01%

ANNUALISED
PERFORMANCE

Highest 1 year rolling return
16.21%
Lowest 1 year rolling return
-2.63%
* Benchmark: Average of the ASISA SA Multi-Asset Low Equity category
* CPI: South African – Multi Asset – Low Equity

TOP 10 EQUITY
EXPOSURES

1. Nepi Rockcastle
2.00%
2. Aberdeen New India
1.74%
3. Berkshire Hathaway
1.22%
4. Smithson Investment Trust
1.10%
5. Growthpoint Properties
1.10%
6. Visa
0.98%
7. Alphabet
0.94%
8. Microsoft
0.81%
9. Redefine Properties
0.76%
10. Johnson & Johnson
0.76%
Top 10 equity exposures are one month lagged.

PORTFOLIO
MANAGEMENT

Management Company
The portfolios are hosted and administered by Ci Collective Investments (RF) (Pty) Ltd (“Ci”). Ci is owned by a number of like-minded boutique multi-managers and managed by a team of experts, each with significant experience in the collective investments industry. Ci is approved by the FSCA as a manager in terms of the Collective Investment Schemes Control Act.

ADDITIONAL
INFORMATION

Launch Date
1 March 2019
Opening Nav Price
100.00 cents per unit
Fund Size
R 280.9 million
Initial Fee
Class A: 0%
Initial Advisory Fee Maximum
Maximum 3.45% (Incl. VAT)
Annual Service Fee
Class A: 0.92% (Incl. VAT)
Annual Advisory Fee Maximum
Maximum 1.15% (Incl. VAT)
Total Expense Ratio
Class A: 1.32%, Class B: 1.27%
Transaction Cost
Class A: 0.03%, Class B: 0.03%
Total Investment Charge
Class A: 1.35%, Class B: 1.30%
Calculation Period
1 Jan 2021 to 31 Dec 2023
Income Declaration Dates
31 March, 30 June, 30 September & 31 December
Last 12 Month Distributions
28/03/2024: (B) 1.43, 29/12/2023: (B) 0.93 29/09/2023: (B) 1.44, 30/06/2023: (B) 1.60
Income Reinvestment / Payout Dates
2nd working day in April, July, October & January
Transaction cut-off time
14:00
Valuation Time
17:00
Frequency of pricing
Our daily NAV prices are published on our website and in the national newspaper
ASISA Classification
South African – Multi Asset – Low Equity
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