OVERVIEW

Synergy Ci Conservative Fund of Funds

31 August 2024

INFORMATION DISCLOSURE

Fund Size

R 293.2 million

Risk Profile

Low

ASISA Classification

South African – Multi Asset – Low Equity

Benchmark

Average of the ASISA SA Multi-Asset Low Equity category

Total Expense Ratio

Class A: 1.37%, Class B: 1.32%

Transaction Cost

Class A: 0.03%, Class B: 0.03%

Total Investment Charge

Class A: 1.40%, Class B: 1.35%

Calculation Period

1 Jul 2021 to 30 Jun 2024

Foreign Exposure

Up to 45%

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

UNDERLYING HOLDINGS

  • Global Flexible Growth Fund

    29.47%

  • Ci Diversified Income Fund

    23.49%

  • Ninety One Corporate Bond Fund

    15.04%

  • Ci SA Cautious Fund

    13.20%

  • ABAX SA Absolute Prescient Fund

    7.85%

  • Ci Property Fund

    5.79%

  • Ci Equity Fund

    4.15%

  • SA Cash

    1.00%

  • Global Cash

    0.01%

ANNUALISED PERFORMANCE

Highest 1 year rolling return

16.21%

Lowest 1 year rolling return

-2.63%

TOP 10 EQUITY EXPOSURES

  • 1. Aberdeen New India

    1.71%

  • 2. Nepi Rockcastle

    1.47%

  • 3. Berkshire Hathaway

    1.17%

  • 4. Smithson Investment Trust

    1.06%

  • 5. Growthpoint Properties

    0.85%

  • 6. FirstRand

    0.83%

  • 7. Novo Nordisk

    0.77%

  • 8. Microsoft

    0.74%

  • 9. Johnson & Johnson

    0.69%

  • 10. Visa

    0.65%

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

01 March 2019

Opening Nav Price

100.00 cents per unit

Fund Size

R 293.2 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: 1.37%, Class B: 1.32%

Transaction Cost

Class A: 0.03%, Class B: 0.03%

Total Investment Charge

Class A: 1.40%, Class B: 1.35%

Calculation Period

1 Jul 2021 to 30 Jun 2024

Income Declaration Dates

31 March, 30 June, 30 September & 31 December

Last 12 Month Distributions

28/06/2024: (A) 1.76, 28/03/2024: (A) 1.41 29/12/2023: (A) 0.91, 29/09/2023: (A) 1.42

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