OVERVIEW

Affinity Ci Cautious Fund
May 2024

INFORMATION
DISCLOSURE

Calculation Period
1 Apr 2021 to 31 Mar 2024
Benchmark
CPI for all urban areas + 2-3% p.a. over any rolling 2-3 year period
ASISA Classification
South African – Multi Asset – Low Equity
Total Investment Charge
1.56%
Foreign Exposure
Up to 45%
Risk Profile
Low
Transaction Cost
0.05%
Fund Size
R 258.5 million
Total Expense Ratio
1.51%
Equity Exposure
40%

About

Investment Objective
The Investment objective of the portfolio is to provide investors with income and conservative capital growth with a focus on capital preservation. The portfolio maintains a low risk profile and the portfolios 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 extend allowed by the Act. The portfolio may from time to time invest in listed and unlisted financial instruments, in order to achieve the portfolio's investment objective.
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.
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
49.1%
Foreign Equity
21.69%
Equity
15.39%
Foreign Bonds
5.1%
Foreign Cash
3.48%
Equity (Derivatives)
2.94%
Cash
1.01%
Foreign Property
0.72%
Property
0.43%
Property (Derivatives)
0.14%

UNDERLYING
HOLDINGS

SA Bonds
32.70%
International Flexible Growth Fund
18.85%
Amplify SCI Strategic Income Fund
7.17%
PortfolioMetrix BCI Dynamic Income Fund
7.13%
Fairtree Equity Prescient Fund
5.95%
SA Direct Equity
5.75%
36ONE BCI SA Equity Fund
3.96%
Ci Diversified Income Fund
3.83%
Direct Equity (Hedged)
3.08%
iShares MSCI World ETF
2.24%
iShares 0-5 Year High Yield Corporate Bond ETF
1.92%
iShares US Treasury 0-1YR UCITS ETF
1.92%
Affinity Ci International Flexible Growth Feeder Fund
1.74%
iShares 1-3 Year Treasury Bond ETF
1.71%
SA Cash
1.04%

ANNUALISED
PERFORMANCE

Highest 1 year rolling return
14.03%
Lowest 1 year rolling return
-4.62%
* Benchmark: CPI for all urban areas + 2-3% p.a. over any rolling 2-3 year period
* Asisa: South African – Multi Asset – Low Equity

TOP 10 EQUITY
EXPOSURES

1. Naspers
1.65%
2. Prosus
1.23%
3. Scottish Mortgage Trust
1.06%
4. FirstRand
0.98%
5. Anglo American
0.95%
6. Schroder Asian
0.89%
7. Mr Price
0.72%
8. Smithson Investment Trust
0.70%
9. British American Tobacco
0.69%
10. CF Richemont
0.67%
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
3 May 2016
Opening Nav Price
100.00 cents per unit
Fund Size
R 258.5 million
Initial Fee
Class A: 0%, Class B: 0%
Initial Advisory Fee Maximum
Maximum 3.45% (Incl. VAT)
Annual Service Fee
Class A: 1.55%, Class B: 1.50% (Both Incl. VAT)
Annual Advisory Fee Maximum
Maximum 1.15% (Incl. VAT)
Total Expense Ratio
1.51%
Transaction Cost
0.05%
Total Investment Charge
1.56%
Calculation Period
1 Apr 2021 to 31 Mar 2024
Income Declaration Dates
31 March, 30 June, 30 September & 31 December
Last 12 Month Distributions
28/03/2024: (A) 1.52, 29/12/2023: (A) 1.34 29/09/2023: (A) 1.52, 30/06/2023: (A) 1.27
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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