OVERVIEW

Fussell Ci Defensive Fund of Funds
March 2024

INFORMATION
DISCLOSURE

Calculation Period
Estimate
Benchmark
SA CPI for all urban areas +3% over any rolling 4 year period
ASISA Classification
South African – Multi Asset – Medium Equity
Total Investment Charge
1.48%
Foreign Exposure
Up to 45%
Risk Profile
Moderate
Transaction Cost
0.08%
Fund Size
R 139.1 million
Total Expense Ratio
1.40%
Equity Exposure
0% - 60%

About
‍

Investment Objective
The objective of this multi asset portfolio is to provide investors with long-term 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 Regulation 28 of the Pension Funds 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 invest up to 60% in equity securities, both locally and abroad.

ASSET
ALLOCATION

Bonds
32.08%
Foreign Equity
28.9%
Equity
18.03%
Cash
16.06%
Property
1.19%
Commodities
0.98%
Foreign Cash
0.96%
Foreign Property
0.92%
Foreign Bonds
0.88%

UNDERLYING
HOLDINGS

Ci SA Cautious Fund
36.60%
Worldwide Growth Fund
16.47%
Camissa Balanced Fund
15.33%
Nedgroup Inv Core Guarded Fund
14.77%
Ci Diversified Income Fund
9.50%
iShares Core MSCI World UCITS ETF
5.18%
SA Cash
1.76%
Satrix MSCI World Equity Feeder ETF
0.30%
Global Cash
0.09%

ANNUALISED
PERFORMANCE

No performance figures are provided as the fund has been in existence for less than a year.

PORTFOLIO
MANAGEMENT

Portfolio Managers
Fussell Asset Management (Pty) Ltd (FSP 38472)
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 August 2023
Opening Nav Price
100.00 cents per unit
Fund Size
R 139.1 million
Initial Fee
Class A: 0%
Initial Advisory Fee Maximum
Maximum 3.45% (Incl. VAT)
Annual Service Fee
Class A: 0.63%, Class B: 0.58% (Incl. VAT)
Annual Advisory Fee Maximum
Maximum 1.15% (Incl. VAT)
Total Expense Ratio
1.40%
Transaction Cost
0.08%
Total Investment Charge
1.48%
Calculation Period
Estimate
Income Declaration Dates
30 June & 31 December
Last 12 Month Distributions
29/12/2023: (A) 1.46
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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