Multi Asset Strategy ZAR Moderate

January 2024
Fact Sheet
QR
award3.png 

Investment Objective

Achieve a gross-of-fee total return of at least 3.5% above the currency CPI rate over rolling periods of 5 years or more within moderate risk profile. 

Investment Approach

The Portfolio is underpinned by a strategic asset allocation with periodic tactical shifts. The investment process combines quantitative asset allocation techniques using an optimisation algorithm with a tactical asset allocation overlay in determining its preferred asset class exposure and potential thematic tilts. A bottom-up fundamental analysis process identifies the underlying instruments that will give exposure to the various asset classes.

Asset Class Allocation

Sector Allocation

Regional Allocation

Portfolio Information

Portfolio Manager:Sasfin Securities
Launch Date:07/10/2019
Currency:ZAR
Regulation 28:Yes
Management Fee:Sliding Scale
Return Objective:SA CPI+3.5%
Fund Benchmark:ASISA SA Multi Asset Medium Equity

Investment Growth

Returns

1 Month 3 Months YTD 1 Year 3 Years Inception
MAS ZAR Moderate Reg28 -0.6% 8.7% -0.6% 5.6% 6.7% 9.4%
SA CPI +3.5% 0.3% 1.7% 0.3% 8.8% 9.8% 8.7%
SA Multi Asset Medium Equity 0.1% 7.7% 0.1% 6.0% 8.6% 8.2%

Risk Profile

Risk          
  Low Low-Mod Mod Mod-High High
Term          
  1-3 years 3+ years 3-5 years 5+ years 7+ years
  • This portfolio has a balanced exposure to various asset classes.  It has more equity exposure than a low risk portfolio but less than a high-risk portfolio. In turn the expected volatility is higher than a low risk portfolio, but less than a high-risk portfolio.
  • Where the asset allocation contained in this fact sheet reflects offshore exposure, the portfolio is exposed to currency risk.
  • The portfolio is exposed to equity as well as default and interest rate risks.
  • The portfolio is suitable for medium-term investment horizons.

Risk-Reward

Drawdown

Monthly Returns

  Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Year
2024 -0.6 -0.6
2023 3.8 -0.3 -0.7 1.9 -2.5 2.4 1.7 -0.3 -3.0 -1.8 6.8 2.4 10.4
2022 -1.4 -0.2 -2.0 0.5 -0.4 -3.1 3.1 -0.8 -2.8 3.3 3.7 -0.4 -0.8
2021 1.9 1.3 -0.3 1.8 -0.2 0.9 1.8 0.3 -0.5 2.2 1.4 2.5 13.8
2020 3.4 -1.5 -1.3 6.6 0.1 1.4 3.3 2.8 -2.3 -1.6 2.9 1.1 15.5
2019 2.9 0.5 1.9 -0.7 0.3 4.8
Note: Performance reflects simulated returns to Jan 2020. All performance shown net of underlying instruments fees & gross of management fees.

Risk Measures

MAS ZAR Moderate Reg28SA Multi Asset Medium Equity
Std. Deviation 7.6% 8.5%
Max Drawdown (Monthly) -7.0% -11.3%
Best Month 6.8% 7.9%
Worst Month -3.1% -8.1%
Gain/Loss Ratio 2.5 2.2
Value at Risk -2.8 -3.4

Note: All risk measures shown are annualized.

Information & Disclosures

Alpha - Excess return over benchmark.
Beta - Systematic measure of sensitivity risk with respect to a given benchmark.
Max Drawdown - Measures largest peak-to-trough decline before a new peak is achieved.
Sharpe Ratio - Calculated by dividing a fund's excess returns over the risk-free rate by its standard deviation. The higher the Sharpe ratio, the better the fund's historical risk-adjusted performance.
Standard deviation - A statistical measurement of dispersion about an average. The higher the standard deviation, the wider the range, implyng greater volatility.
Sortino Ratio - A variation of the Sharpe ratio. Differentiates harmful volatility by using downside deviation, measuring the return to volatility caused by negative returns.
Value at Risk (VaR) - is a statistical measure of the risk of loss for investments. The potential loss in value of a traded portfolio over a defined period of time for a given confidence level.

 
Disclaimer: Sasfin Wealth comprising: Sasfin Securities (Pty) Ltd, 1996/005886/07, a member of the JSE Ltd; Sasfin Asset Managers (Pty) Ltd, 2002/03307/07, an authorised financial services provider (FSP) no. 21664; Sasfin Financial Advisory Services (Pty) Ltd, 1997/010819/07, FSP No. 5711; and Sasfin Wealth Investment Platform (Pty) Limited FSP No. 45334 and their employees and agents. The information and opinions in this publication are of a general nature and do not constitute advice or represent the views of Sasfin Wealth. Sasfin Wealth takes all care to provide current and accurate information as at the date of publication but accepts no liability for errors, omissions or subsequent changes. Any references to historical data, assumptions, targets, benchmarks or examples are as indicators or illustrations only and are not fixed or guaranteed. Past investment performance is not necessarily indicative of future performance. Clients should not assume any performance or guarantees will apply unless such has been explicitly confirmed in writing. Clients should consult with their advisors and independently assess and confirm all material information before taking any action. Clients remain responsible for the investment, product and institutional risks of their decisions. Referenced investment portfolios or products may be contained within financial products or contracts issued by third party life offices, pension funds, collective investment schemes or other product providers and may be administered / managed by such providers or other third parties. Refer to applicable application forms for further detail. Note that not all products or features may be available at all times or from all Sasfin Wealth represented product providers. The contents of this publication are proprietary and may not be distributed or used without permission. Past investment returns are calculated using back tested model portfolios. Any returns, modelling or back-testing are not to be seen as a guide to or guarantee of future returns and individual client portfolio performance will differ to the fact sheet due to investment timing and minor variations in actual portfolio holdings over time. Historical data and market assumptions used in data construction are used as indicators only.