OVERVIEW

Roxburgh Ci Conservative Fund of Funds
31 March 2024

INFORMATION
DISCLOSURE

Calculation Period
1 Jan 2021 to 31 Dec 2023
Benchmark
CPI for all urban areas + 2% p.a. over a rolling 3 year period
ASISA Classification
South African – Multi Asset – Low Equity
Total Investment Charge
1.22%
Foreign Exposure
Up to 45%
Risk Profile
Low
Transaction Cost
0.06%
Fund Size
R 506.2 million
Total Expense Ratio
1.16%
Equity Exposure
The Fund will have a maximum effective exposure of 40% for equity.

About

Investment Objective
The objective of this multi asset portfolio is to provide investors with income and conservative capital growth with a focus on capital preservation. The composition of the portfolio shall reflect the investment structure of a retirement fund with a low risk profile and will comply with Regulation 28 of the Pension Funds Act. The Fund 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, aims 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
44%
Equity
18.5%
Global Equity
17.36%
Cash
12.86%
Global Bonds
4.45%
Global Cash
1.36%
Global Property
0.96%
Property
0.51%

UNDERLYING
HOLDINGS

Roxburgh Ci Income Fund
34.87%
Nedgroup Inv Core Bond Fund
12.93%
Nedgroup Inv Core Global Fund
12.68%
Methodical BCI Equity Preserver Fund
8.23%
Ninety One GSF Global Franchise Fund
7.21%
10X S&P SA Top 50 Tracker Fund
5.91%
Coronation Strategic Income Fund
4.17%
Fairtree Equity Prescient Fund
4.15%
PSG Equity Fund
4.11%
Ninety One Diversified Income Fund
3.66%
Nedgroup Inv Core Global Feeder Fund
0.45%
SA Cash
1.63%

ANNUALISED
PERFORMANCE

Highest 1 year rolling return
20.61%
Lowest 1 year rolling return
-3.08%
* Benchmark: CPI for all urban areas + 2% p.a. over a rolling 3 year period
* Asisa: South African – Multi Asset – Low Equity

TOP 10 EQUITY
EXPOSURES

1. Naspers
1.47%
2. Anglo American
1.37%
3. FirstRand
1.00%
4. Microsoft
1.00%
5. Standard Bank
0.83%
6. Visa
0.82%
7. ASML Holding
0.77%
8. Prosus
0.72%
9. Gold Fields
0.71%
10. British American Tobacco
0.63%
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 2016
Opening Nav Price
100.00 cents per unit
Fund Size
R 506.2 million
Initial Fee
Class A: 0%, Class B: 0%
Initial Advisory Fee Maximum
0% - 3.45% (Incl. VAT)
Annual Service Fee
Class A: 0.690% (Incl. VAT), Class B: 0.633% (Incl. VAT)
Annual Advisory Fee Maximum
Maximum 1.15% (Incl. VAT)
Total Expense Ratio
1.16%
Transaction Cost
0.06%
Total Investment Charge
1.22%
Calculation Period
1 Jan 2021 to 31 Dec 2023
Income Declaration Dates
31 March, 30 June, 30 September and 31 December
Last 12 Month Distributions
28/03/2024: (A) 1.61, 29/12/2023: (A) 1.33 29/09/2023: (A) 1.74, 30/06/2023: (A) 1.42
Income Reinvestment / Payout Dates
2nd working day in April, July, October and 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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