The investment objective of the Fund is to provide capital growth over a rolling three to five year period. There is no guarantee that the fund will meet its objective.
Characteristics
This is a multi-asset flexible equity portfolio, which means that the portfolio may have a maximum equity exposure of up to 100% at all times. This fund is a specialist fund that seeks to invest primarily in a broad range of unit trusts over most available asset classes.
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 high, as it may invest up to 100% in equity securities globally.
ASSET ALLOCATION
UNDERLYING HOLDINGS
Direct Equity
20.76%
iShares U.S. Infrastructure ETF
11.45%
iShares World Equity Index Fund
9.70%
iShares USD Floating Rate Bond UCITS ETF
9.45%
iShares USD Ultrashort Bond UCITS ETF
9.39%
GQG Partners Global Equity Fund
6.87%
Cash
6.72%
iShares Edge MSCI World Multifactor UCITS ETF
5.93%
iShares High Yield Bond Factor ETF
5.46%
PIMCO GIS Low Duration Income Fund
5.45%
Vanguard S&P 500 UCITS ETF
4.84%
iShares MSCI Global Multifactor ETF
3.98%
ANNUALISED PERFORMANCE
Highest 1 year rolling return
23.43%
Lowest 1 year rolling return
-16.21%
TOP 10 EQUITY EXPOSURES
1. Microsoft
1.63%
2. Apple
1.61%
3. NVIDIA Corporation
1.59%
4. Visa
1.30%
5. O'Reilly Automotive Inc
1.24%
6. Johnson & Johnson
1.15%
7. Church & Dwight Co., Inc.
1.11%
8. Novo Nordisk B
1.08%
9. Mastercard
0.93%
10. Hershey Company
0.89%
Top 10 equity exposures are one month lagged.
PORTFOLIO MANAGEMENT
Portfolio Managers
Ci Global Fund Managers ICC Limited.
Management Company
The fund is a sub-fund of Ci Global Investments RIAIF ICAV, an open-ended umbrella type Irish collective asset-management vehicle with variable capital and with segregated liability between sub-funds, authorised by the Central Bank of Ireland, as a Retail Investor Alternative Investment Fund (“RIAIF”). Sanlam Asset Management (Ireland) Limited, authorised by the Central Bank of Ireland as an Alternative Investment Fund Manager (“AIFM”) is the appointed AIFM to the fund and is licensed as a Financial Services Provider in terms of Section 8 of the South African FAIS Act. This fund is Section 65 approved under the Collective Investment Schemes Control Act 45, 2002 (“CISCA”).
ADDITIONAL INFORMATION
Launch Date
29 August 2017
Opening Nav Price
$1
Fund Size
$ 81.1 million
Classification
EAA Fund USD Flexible Allocation
Domicile
Ireland
Base Currency
USD
Minimum Initial Investment
Class A : $5000 , Class B: $10,000
Transaction cut-off time
16h00 (Irish time) on T-1
Valuation time
24h00 (South African time)
Frequency of pricing
Daily, on days that banks in Dublin and Guernsey are open for business
Daily Pricing publication
Classification
EAA Fund USD Flexible Allocation
Annual fees levied against the Fund (Max % or amount comprising the TER)
Distributor Fee
0.03% net assets p.a.
Administration Fee
Max 0.03% net assets p.a.
Depositary Fee
Max 0.015% net assets p.a.
Registrar and Transfer Agent Fee
$3,000
AIFM and IM Fee
0.14% net assets p.a.
Investment Advisor Fee
Class A: 1.20% net assets p.a. Class B: 1.00% net assets p.a.
Equity markets are volatile and the price of equities fluctuate based on a number of factors such as changes in the economic climate, general movements in interest rates and the political and social environment which will also affect the value of the securities held in the unit trust, thereby affecting the overall value of the unit trust.
Currency Risk / Foreign Exchange Risk
This risk is associated with investments that are denominated in foreign currencies. When the foreign currencies fluctuate against the South African Rand, the investments face currency gains or losses.
Concentration Risk
Unit Trusts pool the assets of many investors and use the proceeds to buy a portfolio of securities. There are regulations in place which limit the amount that a unit trust may invest in securities, thereby spreading the risk across securities, asset classes and companies.
Liquidity Risk
This relates to the ability of the unit trust to trade out of a security held in the portfolio at or near to its fair value. This may impact on liquidity and in the case of foreign securities, the repatriation of funds.
Credit Risk
Credit risk arises where an issuer of a non-equity security or a swap is unable to make interest payments or to repay capital. The Fund may be exposed to credit risk on the counterparties in relation to instruments such as cash, bonds and swaps that are not traded on a recognised exchange. The possibility of the insolvency, bankruptcy or default of a counterparty with which the Fund trades such instruments, could result in losses to the Fund.
Total Return Swaps Risk
This portfolio may invest in total return swaps. Total return swaps are unlisted instruments issued by a bank to provide the return of a specific index. Therefore, the equity exposure in this portfolio is derived through the total return swap and not by physically holding the equities in the portfolio. The value of the instrument is directly linked to the performance of the basket of assets per the index and will fluctuate in line with the daily market movements.
Inflation Risk
The risk of potential loss in the purchasing power of your investment due to a general increase of consumer prices.
Tax Risk
This risk relates to any change to tax laws or to the interpretation of existing tax laws which has an impact on the manner in which unit trusts are taxed.
Compliance Risk
This refers to the risk of not complying with the legislation, regulations, prescribed investment limits and internal policies and procedures by the manager or the portfolio manager.
Political Risk
The risk that investment returns could suffer as a result of a country’s political changes or instability in the country. Instability could come from changes in the country’s government, policy makers or military.
Total Expense Ratio
The TER is the percentage of the value of the Fund that was incurred as expenses relating to the administration of the Fund. A higher TER does not necessarily imply a poor return, nor does a low TER imply a good return. The current TER may not necessarily be an accurate indication of future TER’s Obtain the Effective Annual Cost (EAC) estimate before investing by contacting the AIFM at +353 1 2053500 Please note that in most cases where the Financial Services Provider (FSP) is a related party to the portfolio manager, the FSP, the FSP’s representative or the distributor may earn additional fees other than those charged by the portfolio manager.
DISCLOSURES
Minimum Disclosure Document
This page serves as an electronic Minimum Disclosure Document (MDD) which contains key information about this portfolio. It is updated on a monthly basis.
Sources
Performance sourced from Morningstar and Portfolio Analytics Consulting (Pty) Ltd, for a lump sum using NAV-NAV prices with income distributions reinvested. CPI for all urban areas sourced from FactSet. Asset Allocation and Top 10 holdings data compiled by Global Investment Reporting SA ("GIRSA”). Asset allocation and Top 10 holdings data are lagged by one month.
Characteristics
This is a multi-asset flexible equity portfolio, which means that the portfolio may have a maximum equity exposure of up to 100% at all times. This fund is a specialist fund that seeks to invest primarily in a broad range of unit trusts over most available asset classes.
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 high, as it may invest up to 100% in equity securities globally.
THE FINE PRINT
The fund is a sub-fund of Ci Global Investments RIAIF ICAV, an open-ended umbrella type Irish collective asset-management vehicle with variable capital and with segregated liability between sub-funds, authorised by the Central Bank of Ireland, as a Retail Investor Alternative Investment Fund (“RIAIF”). Sanlam Asset Management (Ireland) Limited, authorised by the Central Bank of Ireland as an Alternative Investment Fund Manager (“AIFM”) is the appointed AIFM to the fund and is licensed as a Financial Services Provider in terms of Section 8 of the South African FAIS Act. This fund is Section 65 approved under the Collective Investment Schemes Control Act 45, 2002 (“CISCA”). The information in this document does not constitute financial advice as contemplated in terms of the South African FAIS Act. The use of and/or reliance on this information is at your own risk. Independent professional financial advice should be sought before making an investment decision. Any offering is made only pursuant to the relevant offering document, the Prospectus the Supplement, the MDD, together with the current financial statements of the fund, and the relevant subscription/application forms, all of which must be read in their entirety. No offer to purchase securities will be made or accepted prior to receipt by the offeree of these documents, and the completion of all appropriate documentation. The full Prospectus and Supplement are available free of charge from Ci, APS or at www.sanlam.ie. Collective investment Schemes in Securities (“CIS”) are generally medium to long term investments. Past performance is not necessarily a guide to future performance, and the value of your investment may go down as well as up. Changes in exchange rates may have an adverse effect on the value, price or income of your investment. CIS are traded at ruling prices and can engage in borrowing and scrip lending. Forward pricing is used. CIS are calculated on a net asset value basis, which is the total market value of all assets in the fund including any income accruals and less any deductible expenses such as audit fees, brokerage and service fees. Performance is calculated for the fund and individual investor performance may differ as a result of initial fees applicable, actual investment date, date of reinvestment of income and any dividend withholding tax, if applicable. Performance quoted is for lump sum investment with income distributions, prior to deduction of applicable taxes, included. NAV to NAV figures have been used. The annualised return is the return of the performance period re-scaled to a period of one year. Should different classes apply to this fund these are subject to different fees and charges. A schedule of fees and charges and maximum commissions is available on request from the AIFM, APS or Ci. The performance of the fund depends on the underlying assets and variable market factors. The AIFM does not provide any guarantee either with respect to the capital or the return of the fund. Commission and incentives may be paid and are for the account of the manager. International investments or investments in foreign securities could be accompanied by additional risks such as potential constraints on liquidity and repatriation of funds, macroeconomic risk, political risk, foreign exchange risk, tax risk, settlement risk as well as potential limitations on the availability of market information. The AIFM retains full legal responsibility for this fund. The AIFM has the right to close the fund to new investors to manage it more efficiently in accordance with its mandate. The portfolio management of the fund is outsourced to regulated and authorised financial services providers. Note that some fees are inclusive of VAT.
Contact Details
AIFM: Sanlam Asset Management (Ireland) Limited, Beech House, Beech Hill Road, Dublin 4, Ireland; Tel: +353 1 205 3500, | Fax: +353 1 205 3521
Administrator: Northern Trust International Fund Administration Services (Ireland) Limited, George's Court, 54-62 Townsend Street, Dublin 2, Ireland. Tel: 0800 004 579 (SA Toll Free), +353 1 434 5142. Fax: + 353 1 553 9447
Depositary: Northern Trust Fiduciary Services (Ireland) Limited, George's Court,54-62 Townsend Street, Dublin 2, Ireland. Tel: 0800 004 579 (SA Toll Free), +353 1 434 5142.
Representative Office: Ci Collective Investments (RF) (Pty) Limited, PO Box 412249, Craighall, 2024; Tel: 0861 000 881 website: www.cicollective.co.za
Investment Advisors: APS International and SIP Mauritius Tel: +230 266 9690 Fax: +230 267 0921
Investment Manager: Ci Global Fund Managers ICC Limited, Suite 6, La Tourgand House, La Tourgand, Lower Pollet, St Peter Port, Guernsey; Tel: +44 (0) 1481 817 881
