OVERVIEW

Synergy Ci Moderate Fund of Funds
April 2024

INFORMATION
DISCLOSURE

Calculation Period
1 Jan 2021 to 31 Dec 2023
Benchmark
Average of the ASISA SA Multi-Asset Medium Equity category
ASISA Classification
South African – Multi Asset – Medium Equity
Total Investment Charge
Class A: 1.41%, Class B: 1.35%
Foreign Exposure
Up to 45%
Risk Profile
Moderate
Transaction Cost
Class A: 0.05%, Class B: 0.05%
Fund Size
R 387.6 million
Total Expense Ratio
Class A: 1.36%, Class B: 1.30%

About

Investment Objective
The portfolio seeks to provide investors with moderate capital growth. The portfolio maintains a moderate risk profile and the portfolio's equity exposure will be limited to a maximum of 60% 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 medium equity portfolio which means that it may invest in a spectrum of investments in the equity, bond, money, or property markets. The portfolio tends to display average volatility and aims for medium to long term capital growth. The portfolio can have a maximum effective equity exposure (including international equity) of 60% and a maximum effective property exposure (including international property) of 25% 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 moderate, as it may only invest up to 60% in equity securities, both locally and abroad.

ASSET
ALLOCATION

Foreign Equity
36.36%
Bonds
27.79%
Equity
23.56%
Cash
5.8%
Property
5.06%
Foreign Cash
0.63%
Commodities
0.51%
Foreign Property
0.29%

UNDERLYING
HOLDINGS

Global Flexible Growth Fund
37.27%
Ninety One Corporate Bond Fund
18.48%
Ci Equity Fund
15.84%
Ci SA Managed Fund
12.76%
ABAX SA Absolute Prescient Fund
6.25%
Ci Diversified Income Fund
4.80%
Ci Property Fund
3.79%
SA Cash
0.80%
Global Cash
0.01%

ANNUALISED
PERFORMANCE

Highest 1 year rolling return
22.44%
Lowest 1 year rolling return
-6.21%
* Benchmark: Average of the ASISA SA Multi-Asset Medium Equity category
* CPI: SA CPI + 4%

TOP 10 EQUITY
EXPOSURES

1. Naspers
2.24%
2. Aberdeen New India
2.15%
3. Berkshire Hathaway
1.51%
4. Nepi Rockcastle
1.43%
5. Smithson Investment Trust
1.36%
6. FirstRand
1.21%
7. Visa
1.20%
8. CF Richemont
1.18%
9. Alphabet
1.16%
10. Prosus
1.09%
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 387.6 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
1.36%
Transaction Cost
0.05%
Total Investment Charge
1.41%
Calculation Period
1 Jan 2021 to 31 Dec 2023
Income Declaration Dates
30 June & 31 December
Last 12 Month Distributions
29/12/2023: (B) 1.86, 30/06/2023: (B) 2.08
Income Reinvestment / Payout Dates
2nd working day in July & 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 – Medium Equity
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