Delta Global Plus Wrap Fund

Transcription

1 31 May 2018 To make a lasting difference Fund Information Inception Date 01 July 2012 Fund Size Benchmark R 21.4 million Global Multi Asset Flexible Risk Profile High Risk X X X X X Fee Structure (incl VAT) Fund Objective Manager Fees Initial 0.00%; Annual 0.46% Underlying Portfolio Fees Initial 0.00 %; Annual 1.29% TER 1.75% This is a high risk fund that aims to deliver capital growth over the long term (5-8 years). The portfolio will primarily be invested offshore (min 80%) and diversified across all major asset classes with a strong bias towards equities (max 100%). The objective is to outperform the average of the Global Multi Asset Flexible category at an acceptable level of risk. Not Regulation 28 compliant. Asset Manager Allocation Asset Manager Exposure Nedgroup Global Equity Feeder 20.00% Coronation Global Managed 15.00% Investec Global Franchise Feeder 15.00% Old Mutual Global Equity 15.00% Satrix MSCI World Equity Index Feeder 15.00% Coronation Global Emerging Markets 10.00% Sanlam India Opportunities Feeder 5.00% SIM Global Financial Feeder 5.00% Portfolio Manager Dries du Toit, MSc, CFI * 46 years Investment Experience * 7 years Actuarial/Pensions * 25 years Investment Management * 14 years Investment Consultancy * Ex CIO and Chief Strategist: Sanlam * Radio, TV and Investment Seminars * Investment and Retirement Planning Dries du Toit Consulting (Pty) Ltd dries@ddtc.co.za Physical Address: The Edge, 8th Floor, 3 Howick Close, Tyger Falls, Bellville, 7530 Postal Address: P.O. Box 889, Sanlamhof, 7532 Asset Allocation Performance Cumulative Returns - Since Inception DISCLAIMER: The information contained in this document has been recorded and arrived at by Graviton Financial Partners (Pty) Ltd (FSP) Licence No in good faith and from sources believed to be reliable, but no representation or warranty, expressed or implied, is made as to the accuracy, completeness or correctness. Performance figures are calculated using net returns (after-fee) of underlying managers but are quoted gross of wrap fund fee. Performance figures for periods greater than 12 months are annualised. All data shown is at the month end. Changes in currency rates of exchange may cause the value of your investment to fluctuate. Past performance is not necessarily a guide to the future returns. The value of investments and the income from them may go down as well as up and are not guaranteed. You may not get back the amount you invest. Dries du Toit is currently appointed by means of a mandatory agreement on the Graviton Financial Partners (Pty) Ltd (FSP) Licence No

2 31 May 2018 To make a lasting difference Portfolio Manager Comment A host of countries reported economic growth figures for Q1 and the picture for advanced economies is that growth seems to have slowed at the start of the year. But rather than a sign that global expansion is running out of steam, the slowdown seems to be a function of local idiosyncrasies and weather patterns. However, investors remain at odds over the outlook for the world economy. President Trump brought relief to markets when he put his trade war with China on hold, a prospect that has rattled financial markets for months. The emergence of a populist government in Italy sent bond markets into a tailspin. In addition to the intended spending programme and tax cuts, a stand-off ensued between the Italian President and populist leaders over a candidate for the role of finance minister which stalled efforts to form a government, as Moody s signalled it would cut the country s credit rating. Subsequently, it was unsurprising that European and emerging market assets came under selling pressure during May, while safe-haven assets like US treasuries and German bunds found support from oversold levels. Global equity markets were unfazed by continued geopolitical tensions in the first half of May, as the MSCI World Index delivered 0.63% in dollars, largely driven by strong gains from the S&P500 returning 2.41% in dollars. The MSCI EM Index delivered -3.52% in dollars, dragged lower by investor sentiment towards the Brazilian market. Towards the end of May, fears that Italy may leave the euro led to a flight to safety and the US 10-year yield rallied from close to 3.1% to 2.85%. As such, the JP Morgan Global Aggregate ended the month -0.74% lower in dollars. The JP Morgan EM Bonds Index underperformed its developed market counterparts, delivering -1.63% in dollars. The EPRA/NAREIT Developed Markets Property Index delivered 1.75% in dollars, as the dividend yield rerated slightly to settle at 4.07%. Locally, the SARB held the repurchase rate unchanged at 6.5% and warned that high oil prices could add to inflation risks. Furthermore, the Central Bank indicated that it sees the economy expanding by 1.7% this year and next. A stronger dollar resulted in the rand depreciating by 1.43% in May. The FTSE/JSE All Share Index ended lower in May, tracking most developed and emerging equity markets. The local equity market delivered -3.48% in rands, largely driven by negative returns from financials and retailers in the second half of May. The Resi20 delivered positive returns of 4.75%, and the Indi25 and Fini15 delivered -5.11% and -6.71% respectively. The All Bond Index followed the trend across emerging markets, delivering -1.95% in rands. Inflation linkers outperformed their sovereign counterparts, delivering 0.08% in rands. The SAPY index continued to struggle during the month, falling 5.92% in rands while SA cash delivered 0.59% in rands during May. Portfolio Managers Dries du Toit, MSc, CFI MSc in Mathematical Statistics and a Certificate in Finance and Investments from the Institute of Actuaries in London. Rafiq Taylor, BCom (Hons) BCom (Hons) Financial Analysis and Portfolio Management ; BCom (Politcs, Philosophy & Economics) About the Portfolio Manager Dries is the CEO of Dries du Toit Consulting and specialises in Investment Management and Retirement Planning. Dries retired after 31 years from Sanlam Investments, having served as the Chief Investment Officer (CIO) and Chief Investment Strategist during his last 5 years. Dries du Toit Consulting (Pty) Ltd dries@ddtc.co.za About the Portfolio Manager Rafiq is a Portfolio Manager for the Graviton Collective Investment Schemes portfolio as well as SMMI's Implemented Consulting business. He joined Sanlam Multi Manager International (SMMI) in 2006 after starting his career at Glacier Financial Solutions. Graviton Financial Partners is backed by the resources of the Sanlam Group. Rafiq Taylor, in his capacity as a SMMI portfolio manager, is the Chairman of the Delta Investment Committee signing off all portfolio decisions. Dries du Toit is currently under a mandatory agreement on the Graviton Financial Partners (Pty) Ltd (FSP) Licence No DISCLAIMER: The information contained in this document has been recorded and arrived at by Graviton Financial Partners (Pty) Ltd (FSP) Licence No in good faith and from sources believed to be reliable, but no representation or warranty, expressed or implied, is made as to the accuracy, completeness or correctness. Performance figures are calculated using net returns (after-fee) of underlying managers but are quoted gross of wrap fund fee. Performance figures for periods greater than 12 months are annualised. All data shown is at the month end. Changes in currency rates of exchange may cause the value of your investment to fluctuate. Past performance is not necessarily a guide to the future returns. The value of investments and the income from them may go down as well as up and are not guaranteed. You may not get back the amount you invest. The wrap fund is made up of registered Collective Investment Schemes. The Minimum Disclosure Document of the underlying funds can be obtained from the respective Managers. Dries du Toit is currently under supervision on the Graviton Financial Partners (Pty) Ltd (FSP) Licence No

3 2018_MAY GLOBAL MULTI ASSET FLEXIBLE FOF 1 YEAR PERFORMANCE RANKING TABLE: 31 MAY 2018 Sygnia International Flexible FoF A 6.9 CPI - Inflation 4.5 CPI FG IP International Flexible FoF A 4.0 Kruger Ci Global FoF A 3.9 Warwick BCI International FoF A 3.8 Amity BCI Global Diversified FoF A 3.6 Assetbase Global Flex Prescient FoF A1 3.5 Prime Global Flexible FoF A Skyblue BCI Solar Flexible FoF 1.6 Global Multi Asset Flexible (Benchmark) 1.5 AVERAGE (#24) Select Manager BCI Global Moderate FoF A 0.2 Lynx Prime Global Diversified FoF A

4 GLOBAL MULTI ASSET FLEXIBLE FOF 3 YEAR PERFORMANCE RANKING TABLE: 31 MAY 2018 Sygnia International Flexible FoF A 6.8 Skyblue BCI Solar Flexible FoF 6.5 FG IP International Flexible FoF A 5.9 CPI - Inflation 5.4 CPI Global Multi Asset Flexible (Benchmark) 4.9 AVERAGE (#17) 4.9 Prime Global Flexible FoF A 4.6 Select Manager BCI Global Moderate FoF A 4.4 Kruger Ci Global FoF A 4.2 Lynx Prime Global Diversified FoF A

5 GLOBAL MULTI ASSET FLEXIBLE FOF 5 YEAR PERFORMANCE RANKING TABLE: 31 MAY FG IP International Flexible FoF A 9.2 Kruger Ci Global FoF A 9.2 Global Multi Asset Flexible (Benchmark) AVERAGE 8.8 (#13) Skyblue BCI Solar Flexible FoF 8.5 Select Manager BCI Global Moderate FoF A 7.9 Lynx Prime Global Diversified FoF A1 6.3 CPI - Inflation 5.3 CPI

6 2018_MAY DELTA GLOBAL PLUS WRAP FUND VS BENCHMARK: 31 MAY 2018 BENCHMARK: AVERAGE OF GLOBAL MULTI ASSET FLEXIBLE FUNDS Y E A R R E T U R N Old Mutual Global Equity Investec Global Franchise FF Satrix MSCI Wrld Equity Index FF DELTA GLOBAL PLUS Nedgroup Global Equity Coronation Global Managed Coronation Global Emerging Markets SIM Global Financial Feeder Fund Sanlam India Opportunities Average Return 4.93 Average Risk CURRENT VOLATILITY (STANDARD DEVIATION)

7 DELTA GLOBAL PLUS WRAP FUND SINCE INCEPTION: 30 JUN MAY Old Mutual Global Equity (1) Nedgroup Investments Global Equity (2) Investec Global Franchise Feeder Fund (3) Sanlam India Opportunities (4) SIM Global Financial Feeder Fund (5) Coronation Global Managed (6) Global MA Flexible (7) Coronation Global Emerging Markets (8) Money Market (9) CPI (10)