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Gray Swan Financial Services (Pty) Ltd (Reg No: 2010/009813/07) is an authorised Financial Services Provider (FSP No: 42290).
GRAYSWAN SCORECARDS
APRIL01 2017
2INVESTMENT CONSULTING I WEALTH MANAGEMENT I REPORTING
we keep the score,you secure the win
EMPOWERING YOU TO INVEST WITH THE BEST
3INVESTMENT CONSULTING I WEALTH MANAGEMENT I REPORTING
In theory a "Black Swan" as first described in AD 82 depicted a creaturethat did not exist. However, in 1790 a Black Swan was discovered andtherefore proved the existence of the improbable.
Nicholas Taleb used the bird in his book, The Black Swan, to explain thatthe belief that "all swans are white" is based on the limits of ourexperience. Some occurrences are unpredictable because they deviateso far beyond what is normally expected. Such experiences are rare butwhen they occur they have massive consequences.
"Black Swan" events are therefore random and unexpected. They areunpredictable unknowns. However, “GraySwans”, as we coined theterm, are risks that can be identified and which have unintendedconsequences on investors’ portfolios and therefore should bemanaged or avoided.
At GraySwan we do not intend to predict the unpredictable.
“GraySwans” are risks that have unintended consequences but can
be identified and should be managed or avoided. Our superior
investment and risk advisory services empower you to do
exactly that.
4INVESTMENT CONSULTING I WEALTH MANAGEMENT I REPORTING
Long Short Equity ScoreCard & Long Short FoF ScoreCard
Mid & Small Cap Equity ScoreCard
BEE Equity ScoreCard
Unconstrained Equity ScoreCard
Money Market ScoreCard
Enhanced Cash ScoreCard
Bond ScoreCard
Flexible Fixed Interest ScoreCard
Credit Bond ScoreCard
Inflation Linked Bond ScoreCard
Listed Property ScoreCard
Passive SWIX ScoreCard
Quantitative Equity ScoreCard
LOCAL SPECIALIST ASSET CLASS
Constrained Equity ScoreCard
Equity ALSI ScoreCard
RI Fixed Interest ScoreCard
RI Balanced ScoreCard
RI Equity ScoreCard
RESPONSIBLE INVESTMENT
LOCAL BALANCED
Domestic Balanced ScoreCard
Guaranteed Fund ScoreCard
Domestic Absolute Return ScoreCard
We are your compass to navigate through
the investment world.
WANT MORE SCORECARDS?
5INVESTMENT CONSULTING I WEALTH MANAGEMENT I REPORTING
We are your compass to navigate through
the investment world.
MORE SCORECARDS
Offshore Passive Equity DM ScoreCard
Offshore Passive Equity EM ScoreCard
Offshore Passive Equity ACWI ScoreCard
Medical Aid Money Market ScoreCard
Medical Aid Absolute Return ScoreCard
Shariah Balanced ScoreCard
Shariah Equity ScoreCard
Global Absolute Return ScoreCard
Global Balanced ScoreCard
LOCAL MEDICAL AID
Offshore China Equity ScoreCard
Offshore Listed Property ScoreCard
Offshore Emerging Markets Equity ScoreCard
MULTI-MANAGER
Multi-Manager Money Market ScoreCard
SHARIAH
GLOBAL BALANCED
OFFSHORE SPECIALIST
Offshore Equity ScoreCard
Offshore Africa Equity ScoreCard
Offshore Balanced ScoreCard
CONSOLIDATED
GraySwan Risk Profile ScoreCard
Multi-Manager Equity ScoreCard
Multi-Manager Balanced ScoreCard
05 06 07 08
TABLE OF CONTENT
MONEY MARKET FUNDS
ENHANCED CASH FUNDS
BOND FUNDS LISTED PROPERTY FUNDS
+ Compliance Checklist
Page 7 Page 13 Page 19 Page 25
CONSTRAINED EQUITY FUNDS
GLOBAL ABSOLUTE RETURN FUNDS
GLOBAL BALANCED FUNDS
Page 31 Page 37 Page 45 Page 51
UNCONSTRAINED EQUITY FUNDS
8
5 YEAR PERFORMANCE
0.00% 1.00% 2.00% 3.00% 4.00% 5.00% 6.00% 7.00% 8.00%
STeFI Call
OMIG MacroSolutions (Profile Banker)
STeFI
Allan Gray Money Market
RE:CM Money Market
ABSA AM Money Market
Stanlib Money Market
Prudential Money Market
Nedgroup Money Market
Futuregrowth 90 Day Core Money Market
GraySwan Money Market Peergroup (Gross)
Prescient Money Market Composite
Median
SIM Moderate Cash
Mean
Cadiz Money Market
Aluwani Money Market (Max 90)
MMI Money Market (Max 90)
Coronation Strategic Cash
Taquanta Pooled Cash
Pan-African Money Market
Taquanta Core Cash
FIVE YEAR ABSOLUTE PERFORMANCE
9
ABSOLUTE PERFORMANCE
Portfolio3
Months Ran
k
YTD
Ran
k 1Year R
ank 2
Year Ran
k 3Year R
ank 5
Year Ran
k 8Year R
ank
ABSA AM Money Market 2.00% 13 2.70% 12 8.44% 9 7.87% 10 7.34% 14 6.66% 14 6.83% 13
Allan Gray Money Market 1.89% 16 2.56% 16 7.96% 16 7.48% 16 7.12% 17 6.46% 16 6.65% 15
Aluwani Money Market (Max 90) 2.15% 6 2.90% 6 8.75% 7 8.17% 7 7.73% 6 7.07% 6 7.23% 6
Cadiz Money Market 2.02% 10 2.71% 11 8.20% 15 8.01% 8 7.52% 10 6.96% 7 7.00% 7
Coronation Strategic Cash 2.09% 7 2.87% 7 8.87% 6 8.24% 5 7.84% 5 7.37% 4 7.56% 2
Futuregrowth 90 Day Core Money Market 2.05% 8 2.74% 9 8.44% 8 7.85% 12 7.42% 11 6.78% 10 6.87% 12
MMI Money Market (Max 90) 2.20% 5 2.95% 4 9.08% 4 8.41% 4 7.93% 3 7.28% 5 7.44% 5
Nedgroup Corporate Money Market 1.98% 14 2.68% 14 8.24% 13 7.73% 15 7.32% 15
Nedgroup Money Market 1.93% 15 2.64% 15 8.24% 14 7.79% 14 7.40% 12 6.77% 11 6.91% 9
OMIG MacroSolutions (Profile Banker) 1.68% 18 2.28% 18 7.11% 18 6.68% 18 6.34% 18 5.79% 17 5.93% 16
Pan-African Money Market 2.31% 3 3.12% 3 9.38% 2 8.68% 2 8.08% 1 7.55% 2 7.46% 4
Prescient Money Market Composite 2.00% 12 2.69% 13 8.39% 12 7.86% 11 7.52% 8 6.84% 9 7.00% 8
Prudential Money Market 2.25% 4 2.93% 5 9.01% 5 8.22% 6 7.52% 9 6.76% 12 6.80% 14
RE:CM Money Market 1.86% 17 2.50% 17 7.77% 17 7.44% 17 7.20% 16 6.66% 15
SIM Moderate Cash 2.01% 11 2.71% 10 8.43% 10 7.95% 9 7.54% 7 6.85% 8 6.91% 10
Stanlib Money Market 2.02% 9 2.74% 8 8.41% 11 7.84% 13 7.39% 13 6.74% 13 6.88% 11
Taquanta Core Cash 2.59% 1 3.36% 1 9.58% 1 8.83% 1 8.07% 2 7.57% 1 7.65% 1
Taquanta Pooled Cash 2.51% 2 3.26% 2 9.36% 3 8.60% 3 7.88% 4 7.39% 3 7.53% 3
STeFI 1.82% 2.46% 7.59% 7.12% 6.80% 6.21% 6.38%
Top Quartile 2.19% 2.92% 8.98% 8.24% 7.81% 7.28% 7.45%
Mean 2.09% 2.80% 8.54% 7.98% 7.51% 6.91% 7.04%
Median 2.02% 2.73% 8.44% 7.91% 7.52% 6.84% 6.96%
Bottom Quartile 1.98% 2.69% 8.24% 7.80% 7.35% 6.74% 6.86%
STeFI Call 1.66% 2.24% 6.91% 6.42% 6.08% 5.58% 5.76%
GraySwan Money Market Peergroup 2.09% 2.80% 8.49% 7.91% 7.44% 6.81% 6.90%
10
ABSOLUTE CALENDAR YEAR PERFORMANCE
Portfolio 2017
Ran
k
2016
Ran
k
2015
Ran
k
2014
Ran
k
2013
Ran
k
2012
Ran
k
2011
Ran
k
2010
Ran
k
2009
Ran
k
2008
Ran
k
ABSA AM Money Market 2.70% 12 8.29% 9 6.94% 12 5.94% 17 5.53% 14 5.86% 13 6.31% 7 7.42% 14 9.47% 12 12.02% 16
Allan Gray Money Market 2.56% 16 7.70% 16 6.81% 16 6.08% 15 5.36% 17 5.61% 16 5.87% 15 7.44% 12 9.54% 11 12.13% 13
Aluwani Money Market (Max 90) 2.90% 6 8.54% 7 7.23% 7 6.49% 6 5.99% 7 6.31% 6 6.54% 6 7.81% 5 10.09% 2 12.70% 7
Cadiz Money Market 2.71% 11 8.15% 13 7.65% 2 6.13% 14 6.28% 5 5.84% 14 5.96% 12 7.53% 9 9.73% 7 12.84% 5
Coronation Strategic Cash 2.87% 7 8.56% 6 7.32% 6 6.82% 1 6.78% 1 6.70% 4 7.35% 1 8.40% 1 9.72% 8 13.23% 1
Futuregrowth 90 Day Core Money Market 2.74% 9 8.23% 10 6.87% 15 6.28% 10 5.78% 8 5.90% 11 5.95% 13 7.46% 11 9.66% 9 12.95% 3
MMI Money Market (Max 90) 2.95% 4 8.86% 4 7.37% 5 6.67% 2 6.19% 6 6.58% 5 6.87% 4 8.02% 4 10.08% 3 12.74% 6
Nedgroup Corporate Money Market 2.68% 14 8.02% 15 6.91% 13 6.19% 13 5.50% 16
Nedgroup Money Market 2.64% 15 8.10% 14 7.00% 10 6.38% 7 5.70% 12 5.97% 9 6.00% 11 7.65% 8 9.73% 6 12.68% 8
OMIG MacroSolutions (Profile Banker) 2.28% 18 7.04% 18 5.87% 18 5.54% 18 4.82% 18 5.16% 17 5.40% 17 6.37% 16 8.46% 16 12.05% 15
Pan-African Money Market 3.12% 3 8.95% 2 7.59% 3 6.59% 3 6.32% 4 7.32% 1 6.69% 5 7.70% 7 9.19% 15 12.11% 14
Prescient Money Market Composite 2.69% 13 8.22% 11 7.02% 9 6.56% 4 5.65% 13 6.03% 8 6.28% 8 7.72% 6 10.13% 1 12.55% 10
Prudential Money Market 2.93% 5 8.90% 3 6.51% 17 6.06% 16 5.51% 15 5.71% 15 5.89% 14 7.20% 15 9.44% 13 12.44% 11
RE:CM Money Market 2.50% 17 7.64% 17 6.95% 11 6.51% 5 5.75% 9 5.93% 10 5.81% 16
SIM Moderate Cash 2.71% 10 8.31% 8 7.06% 8 6.37% 8 5.74% 10 6.08% 7 6.11% 10 7.42% 13 9.28% 14 12.68% 9
Stanlib Money Market 2.74% 8 8.21% 12 6.88% 14 6.22% 12 5.71% 11 5.87% 12 6.14% 9 7.51% 10 9.63% 10 12.39% 12
Taquanta Core Cash 3.36% 1 8.98% 1 7.65% 1 6.36% 9 6.74% 2 7.06% 2 7.12% 2 8.06% 3 9.77% 5 13.01% 2
Taquanta Pooled Cash 3.26% 2 8.72% 5 7.55% 4 6.23% 11 6.50% 3 6.92% 3 7.03% 3 8.09% 2 9.85% 4 12.87% 4
STeFI 2.46% 7.37% 6.45% 5.88% 5.19% 5.54% 5.72% 6.94% 9.13% 11.68%
Top Quartile 2.92% 8.68% 7.36% 6.50% 6.26% 6.58% 6.69% 7.87% 9.79% 12.85%
Mean 2.80% 8.30% 7.07% 6.30% 5.88% 6.17% 6.31% 7.61% 9.61% 12.59%
Median 2.73% 8.26% 7.01% 6.32% 5.74% 5.97% 6.14% 7.59% 9.69% 12.68%
Bottom Quartile 2.69% 8.11% 6.88% 6.15% 5.56% 5.86% 5.95% 7.44% 9.46% 12.33%
STeFI Call 2.24% 6.72% 5.61% 5.28% 4.69% 5.08% 5.29% 6.25% 8.39% 11.35%
GraySwan Money Market Peergroup 2.80% 8.22% 6.93% 6.27% 5.76% 6.00% 6.15% 7.47% 9.50% 12.49%
11
5 YEAR ANNUALISED VOLATILITY & RETURN
ABSA AM Money Market
Allan Gray Money Market
Aluwani Money Market (Max 90)
Cadiz Money Market
Coronation Strategic Cash
Futuregrowth 90 Day Core Money Market
MMI Money Market (Max 90)
Nedgroup Money Market
OMIG MacroSolutions (Profile Banker)
Pan-African Money Market
Prescient Money Market Composite
Prudential Money Market
RE:CM Money Market
SIM Moderate Cash
Stanlib Money Market
Taquanta Core Cash
Taquanta Pooled Cash
STeFI
STeFI Call
GraySwan Money Market Peergroup (Gross)
5.50%
6.00%
6.50%
7.00%
7.50%
8.00%
0.00% 0.10% 0.20% 0.30% 0.40% 0.50% 0.60% 0.70%
AN
NU
ALI
SED
RET
UR
N
ANNUALISED VOLATILITY
12
9 YEAR ANNUALISED VOLATILITY & RETURN
ABSA AM Money Market
Allan Gray Money Market
Aluwani Money Market (Max 90)
Cadiz Money Market
Coronation Strategic Cash
Futuregrowth 90 Day Core Money Market
MMI Money Market (Max 90)
Nedgroup Money Market
OMIG MacroSolutions (Profile Banker)
Pan-African Money Market
Prescient Money Market Composite
Prudential Money Market
SIM Moderate Cash Stanlib Money Market
Taquanta Core Cash
Taquanta Pooled Cash
STeFI
STeFI Call
GraySwan Money Market Peergroup (Gross)
6.00%
6.50%
7.00%
7.50%
8.00%
8.50%
0.50% 0.55% 0.60% 0.65% 0.70%
AN
NU
ALI
SED
RET
UR
N
ANNUALISED VOLATILITY
14
5 YEAR PERFORMANCE
0.00% 1.00% 2.00% 3.00% 4.00% 5.00% 6.00% 7.00% 8.00%
STeFI 3 month
STeFI
JM Busha CashPlus
Investec Stable Money
Futuregrowth Enhanced 180 day MM
Argon Enhanced Money Market
Investec Money
GraySwan Enhanced Cash Peergroup (Gross)
Prudential High Interest
Mean
Coronation Institutional Cash
Median
Nedgroup Core Income
SIM Cash Enhanced
Stanlib Enhanced Yield
MMI Money Market (Max 91-180)
Aluwani Money Market (Max 91-180)
Atlantic Stable Income BCI
FIVE YEAR ABSOLUTE PERFORMANCE
15
ABSOLUTE PERFORMANCE
Portfolio3
Months Ran
k
YTD
Ran
k 1Year R
ank 2
Year Ran
k 3Year R
ank 5
Year Ran
k 8Year R
ank
Aluwani Money Market (Max 91-180) 2.33% 1 3.14% 1 9.24% 4 8.54% 4 8.01% 2 7.41% 2 7.55% 3
Argon Enhanced Money Market 2.08% 9 2.79% 12 8.70% 11 8.13% 10 7.63% 10 7.03% 10 7.06% 11
Atlantic Stable Income BCI 2.10% 8 2.86% 7 9.09% 6 8.63% 2 8.29% 1 7.58% 1 7.75% 1
Coronation Institutional Cash 2.18% 5 2.94% 6 8.55% 12 8.21% 8 7.87% 6 7.20% 7 7.28% 8
Futuregrowth Enhanced 180 day MM 2.14% 7 2.85% 8 8.81% 7 8.17% 9 7.70% 9 6.97% 11 7.08% 10
Investec Money 2.08% 10 2.83% 9 8.78% 9 8.08% 12 7.55% 11 7.08% 9 7.35% 6
Investec Stable Money 2.05% 11 2.83% 10 8.76% 10 8.08% 11 7.45% 12 6.85% 12 7.13% 9
JM Busha CashPlus 1.98% 13 2.67% 13 8.12% 13 7.44% 13 7.22% 13 6.67% 13 6.99% 12
MMI Money Market (Max 91-180) 2.27% 3 3.10% 2 9.16% 5 8.44% 5 7.95% 4 7.41% 3 7.60% 2
Nedgroup Core Income 2.05% 12 2.81% 11 8.79% 8 8.30% 7 7.71% 8 7.21% 6 7.43% 5
Prudential High Interest 2.32% 2 3.07% 3 9.27% 3 8.37% 6 7.79% 7 7.15% 8
SIM Cash Enhanced 2.22% 4 2.97% 4 9.38% 1 8.59% 3 8.00% 3 7.36% 5 7.33% 7
Stanlib Enhanced Yield 2.16% 6 2.97% 5 9.34% 2 8.69% 1 7.94% 5 7.41% 4 7.52% 4
STeFI 1.82% 2.46% 7.59% 7.12% 6.80% 6.21% 6.38%
Top Quartile 2.22% 2.97% 9.24% 8.54% 7.95% 7.41% 7.53%
Mean 2.15% 2.91% 8.92% 8.28% 7.78% 7.18% 7.34%
Median 2.14% 2.86% 8.81% 8.30% 7.79% 7.20% 7.34%
Bottom Quartile 2.08% 2.83% 8.76% 8.13% 7.63% 7.03% 7.12%
STeFI 3 month 1.72% 2.33% 7.23% 6.76% 6.47% 5.94% 6.08%
GraySwan Enhanced Cash Peergroup 2.15% 2.91% 8.97% 8.12% 7.63% 7.08% 7.27%
16
ABSOLUTE CALENDAR YEAR PERFORMANCE
Portfolio 2017
Ran
k
2016
Ran
k
2015
Ran
k
2014
Ran
k
2013
Ran
k
2012
Ran
k
2011
Ran
k
2010
Ran
k
2009
Ran
k
2008
Ran
k
Aluwani Money Market (Max 91-180) 3.14% 1 8.89% 4 7.37% 5 6.67% 4 6.42% 3 6.78% 3 7.04% 2 8.03% 6 10.04% 5 12.83% 6
Argon Enhanced Money Market 2.79% 12 8.78% 5 6.93% 11 6.32% 10 5.88% 10 6.60% 6 6.08% 13 7.23% 12 9.83% 9 12.09% 10
Atlantic Stable Income BCI 2.86% 7 8.73% 6 8.12% 1 7.25% 1 6.35% 5 6.87% 2 7.04% 3 8.95% 1 5.36% 12
Coronation Institutional Cash 2.94% 6 8.23% 12 7.62% 2 6.89% 2 5.97% 9 6.57% 7 7.00% 4 7.61% 11 9.15% 11 12.94% 3
Futuregrowth Enhanced 180 day MM 2.85% 8 8.60% 9 7.14% 8 6.36% 9 5.67% 12 6.25% 12 6.15% 12 7.73% 8 9.89% 8 13.22% 1
Investec Money 2.83% 9 8.48% 10 7.14% 7 6.25% 12 6.25% 7 6.71% 5 6.89% 6 8.24% 4 10.01% 6 13.12% 2
Investec Stable Money 2.83% 10 8.43% 11 7.07% 9 5.91% 13 5.82% 11 6.36% 11 6.65% 8 7.83% 7 10.05% 4 12.24% 9
JM Busha CashPlus 2.67% 13 7.57% 13 6.89% 12 6.46% 6 5.63% 13 6.15% 13 6.50% 10 7.70% 9 10.32% 1 11.96% 11
MMI Money Market (Max 91-180) 3.10% 2 8.66% 7 7.47% 4 6.71% 3 6.46% 2 6.92% 1 7.09% 1 8.25% 3 10.14% 3 12.79% 8
Nedgroup Core Income 2.81% 11 8.60% 8 7.50% 3 6.28% 11 6.34% 6 6.71% 4 6.93% 5 8.30% 2 9.98% 7 12.89% 4
Prudential High Interest 3.07% 3 9.16% 3 6.67% 13 6.39% 8 6.08% 8 6.44% 10 6.54% 9
SIM Cash Enhanced 2.97% 4 9.26% 2 7.31% 6 6.53% 5 6.36% 4 6.55% 8 6.46% 11 7.62% 10 9.50% 10 12.80% 7
Stanlib Enhanced Yield 2.97% 5 9.56% 1 7.04% 10 6.46% 7 6.64% 1 6.51% 9 6.77% 7 8.06% 5 10.23% 2 12.87% 5
STeFI 2.46% 7.37% 6.45% 5.88% 5.19% 5.54% 5.72% 6.94% 9.13% 11.68%
Top Quartile 2.97% 8.89% 7.47% 6.67% 6.36% 6.71% 7.00% 8.24% 10.08% 12.91%
Mean 2.91% 8.69% 7.25% 6.50% 6.14% 6.57% 6.70% 7.96% 9.54% 12.70%
Median 2.86% 8.66% 7.14% 6.46% 6.25% 6.57% 6.77% 7.93% 9.99% 12.83%
Bottom Quartile 2.83% 8.48% 7.04% 6.32% 5.88% 6.44% 6.50% 7.68% 9.74% 12.52%
STeFI 3 month 2.33% 7.03% 6.09% 5.64% 5.04% 5.34% 5.46% 6.57% 8.64% 11.70%
GraySwan Enhanced Cash Peergroup 2.91% 8.49% 7.06% 6.43% 6.13% 6.55% 6.70% 7.91% 9.97% 12.74%
17
5 YEAR ANNUALISED VOLATILITY & RETURN
Aluwani Money Market (Max 91-180)
Argon Enhanced Money Market
Atlantic Stable Income BCI
Coronation Institutional Cash
Futuregrowth Enhanced 180 day MM
Investec Money
Investec Stable Money
JM Busha CashPlus
MMI Money Market (Max 91-180)
Nedgroup Core Income
Prudential High Interest
SIM Cash EnhancedStanlib Enhanced Yield
STeFI
STeFI 3 month
GraySwan Enhanced Cash Peergroup (Gross)
5.50%
6.00%
6.50%
7.00%
7.50%
8.00%
0.20% 0.25% 0.30% 0.35% 0.40% 0.45% 0.50%
AN
NU
ALI
SED
RET
UR
N
ANNUALISED VOLATILITY
18
9 YEAR ANNUALISED VOLATILITY & RETURN
Aluwani Money Market (Max 91-180)
Argon Enhanced Money Market
Coronation Institutional Cash
Futuregrowth Enhanced 180 day MM
Investec Money
Investec Stable Money
JM Busha CashPlus
MMI Money Market (Max 91-180)
Nedgroup Core Income
SIM Cash Enhanced
Stanlib Enhanced Yield
STeFI
STeFI 3 month
GraySwan Enhanced Cash Peergroup (Gross)
6.50%
7.00%
7.50%
8.00%
8.50%
0.50% 0.55% 0.60% 0.65% 0.70%
AN
NU
ALI
SED
RET
UR
N
ANNUALISED VOLATILITY
20
5 YEAR PERFORMANCE
0.00% 2.00% 4.00% 6.00% 8.00% 10.00% 12.00%
ALBI
Prowess Corporate Bond
BEASSA Inflation Linked
JM Busha Bond Plus
Prescient Bond Quant
SIM Institutional Bond
MMI SA Bond
Pan-African Active Bond
Cadiz Houseview Bond
Investec Triple Alpha
Aluwani SA Bond
Futuregrowth Core Bond
Investec Flexible Bond
Futuregrowth Active Bond
Median
Prudential Yield Enhanced Bonds
Atlantic Bond
Vunani Domestic Active Bond
Prescient Bond Quantplus
Stanlib Core Bond
Mean
GraySwan Bond Peergroup (Gross)
ABSA AM Bond
Coronation Active Bond
Investec Corporate Bond
Futuregrowth Yield Enhanced Bond
Coronation Strategic Bond
Argon Specialist SA Core Bond
Futuregrowth Infrastructure Bond
FIVE YEAR ABSOLUTE PERFORMANCE
21
ABSOLUTE PERFORMANCE
Portfolio3
Months Ran
k
YTD
Ran
k 1Year R
ank 2
Year Ran
k 3Year R
ank 5
Year Ran
k 8Year R
ank
ABSA AM Bond 3.62% 1 5.13% 1 12.95% 1 8.52% 2 9.44% 2 8.40% 7 9.23% 16
Aluwani SA Bond 2.94% 6 4.43% 6 11.58% 11 6.76% 15 8.34% 14 7.97% 16 9.37% 9
Argon Specialist SA Core Bond 3.07% 4 4.58% 5 11.94% 4 7.25% 8 8.83% 6 8.87% 2 9.18% 19
Atlantic Bond 3.09% 3 4.80% 2 11.86% 6 7.63% 5 8.47% 10 8.08% 11
Cadiz Houseview Bond 2.33% 23 3.82% 23 10.40% 23 6.66% 17 7.98% 23 7.96% 18 9.18% 18
Coronation Active Bond 2.53% 19 4.08% 17 11.86% 7 7.13% 11 8.68% 9 8.56% 6 9.73% 5
Coronation Strategic Bond 2.53% 20 4.04% 18 11.64% 10 7.04% 12 8.85% 5 8.84% 3 10.00% 3
Futuregrowth Active Bond 2.65% 17 4.01% 19 10.92% 22 6.25% 24 8.18% 20 8.07% 13 9.31% 11
Futuregrowth Core Bond 2.74% 11 4.15% 13 11.34% 14 6.46% 22 8.27% 17 8.04% 15 9.30% 13
Futuregrowth Infrastructure Bond 2.14% 24 3.49% 24 11.71% 8 7.63% 4 9.87% 1 9.70% 1 11.25% 1
Futuregrowth Yield Enhanced Bond 2.73% 12 4.25% 10 11.20% 19 6.53% 20 9.14% 3 8.65% 4 9.77% 4
Investec Corporate Bond 3.05% 5 4.64% 3 12.39% 2 9.00% 1 8.70% 7 8.63% 5 10.39% 2
Investec Flexible Bond 2.76% 10 4.20% 12 11.01% 21 7.14% 10 8.41% 13 8.06% 14 9.21% 17
Investec Triple Alpha 2.91% 7 4.32% 9 11.31% 16 7.41% 7 8.23% 18 7.97% 17 9.33% 10
JM Busha Bond Plus 2.67% 16 4.15% 14 11.34% 15 7.19% 9 8.45% 11 7.77% 23 8.69% 22
MMI SA Bond 2.90% 8 4.34% 7 11.35% 13 6.56% 19 8.27% 16 7.91% 20 9.31% 12
Pan-African Active Bond 2.59% 18 4.22% 11 11.29% 17 6.62% 18 8.14% 22 7.92% 19 9.26% 15
Prescient Bond Quant 2.87% 9 4.32% 8 11.65% 9 6.97% 13 8.44% 12 7.86% 22 9.02% 21
Prescient Bond Quantplus 3.17% 2 4.59% 4 12.07% 3 7.89% 3 9.00% 4 8.20% 9 9.14% 20
Prowess Corporate Bond 2.73% 15 3.95% 21 10.26% 24 6.75% 16 7.82% 24 7.46% 24 8.64% 23
Prudential Yield Enhanced Bonds 2.53% 21 3.99% 20 11.18% 20 6.51% 21 8.32% 15 8.07% 12 9.59% 7
SIM Institutional Bond 2.73% 13 4.11% 16 11.29% 18 6.40% 23 8.20% 19 7.90% 21 9.28% 14
Stanlib Core Bond 2.73% 14 4.14% 15 11.93% 5 7.49% 6 8.69% 8 8.21% 8 9.57% 8
Vunani Domestic Active Bond 2.43% 22 3.92% 22 11.42% 12 6.91% 14 8.15% 21 8.20% 10 9.63% 6
ALBI 2.60% 3.97% 10.58% 6.07% 7.86% 7.30% 8.48%
Top Quartile 2.92% 4.36% 11.86% 7.43% 8.73% 8.44% 9.61%
Mean 2.77% 4.24% 11.49% 7.11% 8.54% 8.22% 9.45%
Median 2.73% 4.17% 11.39% 7.00% 8.43% 8.07% 9.31%
Bottom Quartile 2.57% 4.03% 11.26% 6.61% 8.22% 7.95% 9.20%
BEASSA Inflation Linked 0.62% 2.04% 2.74% 4.33% 6.26% 7.59% 8.61%
GraySwan Bond Peergroup 2.76% 4.23% 11.56% 7.19% 8.64% 8.32% 9.53%
22
ABSOLUTE CALENDAR YEAR PERFORMANCE
Portfolio 2017
Ran
k
2016
Ran
k
2015
Ran
k
2014
Ran
k
2013
Ran
k
2012
Ran
k
2011
Ran
k
2010
Ran
k
2009
Ran
k
2008
Ran
k
ABSA AM Bond 5.13% 1 16.63% 6 -1.14% 4 10.26% 12 0.71% 24 15.76% 20 9.13% 18 14.45% 21 -0.61% 21 14.91% 21
Aluwani SA Bond 4.43% 6 16.28% 12 -3.52% 22 10.18% 13 1.38% 21 17.21% 10 9.63% 11 16.41% 9 1.33% 7 18.60% 2
Argon Specialist SA Core Bond 4.58% 5 16.37% 11 -2.46% 10 11.08% 5 2.68% 5 18.54% 2 6.83% 23 13.81% 22 -1.04% 23 16.98% 20
Atlantic Bond 4.80% 2 16.51% 9 -2.52% 12 10.70% 6 2.32% 9
Cadiz Houseview Bond 3.82% 23 15.47% 23 -2.52% 11 9.97% 15 1.93% 14 17.15% 13 8.99% 22 16.07% 16 0.72% 12 17.79% 12
Coronation Active Bond 4.08% 17 16.65% 5 -2.98% 13 11.33% 4 2.30% 10 17.66% 6 9.85% 5 16.12% 15 0.00% 17 17.78% 13
Coronation Strategic Bond 4.04% 18 16.12% 14 -2.33% 9 11.68% 3 2.75% 4 18.25% 3 9.70% 8 16.34% 11 1.14% 9 18.54% 5
Futuregrowth Active Bond 4.01% 19 15.61% 21 -3.46% 20 10.50% 8 2.42% 8 17.21% 9 9.69% 9 16.14% 14 -0.13% 18 18.49% 6
Futuregrowth Core Bond 4.15% 13 15.91% 17 -3.53% 23 10.33% 9 2.11% 12 17.30% 8 9.34% 14 16.40% 10 -0.27% 20 17.64% 15
Futuregrowth Infrastructure Bond 3.49% 24 16.63% 7 -0.71% 2 12.80% 2 3.67% 1 19.64% 1 11.38% 2 18.91% 1 1.57% 6 18.31% 7
Futuregrowth Yield Enhanced Bond 4.25% 10 15.55% 22 -3.11% 16 12.94% 1 2.16% 11 17.82% 4 9.21% 15 16.85% 4 0.65% 13 18.75% 1
Investec Corporate Bond 4.64% 3 17.13% 2 -0.20% 1 7.02% 24 3.21% 2 17.16% 12 11.56% 1 18.70% 2 2.63% 2 17.80% 11
Investec Flexible Bond 4.20% 12 15.79% 19 -1.87% 6 9.75% 17 1.95% 13 16.05% 18 9.09% 20 16.03% 17 0.40% 15 18.58% 3
Investec Triple Alpha 4.32% 9 15.99% 16 -2.00% 7 8.82% 23 1.90% 15 16.49% 17 9.82% 6 16.48% 8 0.60% 14 18.05% 8
JM Busha Bond Plus 4.15% 14 15.73% 20 -2.22% 8 9.60% 21 1.28% 23 15.97% 19 9.15% 17 13.65% 23 1.89% 5 13.71% 22
MMI SA Bond 4.34% 7 16.00% 15 -3.51% 21 10.28% 10 1.34% 22 17.17% 11 9.59% 12 16.33% 12 1.33% 8 18.55% 4
Pan-African Active Bond 4.22% 11 15.82% 18 -3.41% 19 10.27% 11 1.70% 17 16.85% 15 9.10% 19 16.81% 6 0.77% 11 17.87% 9
Prescient Bond Quant 4.32% 8 16.13% 13 -3.08% 15 10.13% 14 1.59% 20 15.56% 21 9.48% 13 15.39% 18 0.96% 10 17.34% 18
Prescient Bond Quantplus 4.59% 4 16.37% 10 -1.63% 5 9.68% 18 3.01% 3 13.53% 23 9.17% 16 14.88% 20 3.58% 1 17.59% 17
Prowess Corporate Bond 3.95% 21 13.50% 24 -1.09% 3 9.03% 22 2.49% 6 14.15% 22 9.02% 21 15.34% 19 2.28% 4
Prudential Yield Enhanced Bonds 3.99% 20 16.52% 8 -2.99% 14 9.87% 16 1.77% 16 17.15% 14 10.56% 4 17.30% 3 0.03% 16 17.60% 16
SIM Institutional Bond 4.11% 16 16.73% 4 -4.28% 24 10.66% 7 1.70% 18 16.69% 16 9.67% 10 16.82% 5 -0.78% 22 17.72% 14
Stanlib Core Bond 4.14% 15 17.51% 1 -3.26% 18 9.61% 20 1.62% 19 17.77% 5 10.61% 3 16.27% 13 -0.19% 19 17.02% 19
Vunani Domestic Active Bond 3.92% 22 16.93% 3 -3.26% 17 9.68% 19 2.44% 7 17.59% 7 9.73% 7 16.72% 7 2.33% 3 17.82% 10
ALBI 3.97% 15.45% -3.93% 10.15% 0.64% 15.99% 8.82% 14.96% -0.98% 16.98%
Top Quartile 4.36% 16.63% -1.97% 10.67% 2.45% 17.63% 9.77% 16.76% 1.45% 18.45%
Mean 4.24% 16.16% -2.55% 10.26% 2.10% 16.90% 9.58% 16.18% 0.83% 17.61%
Median 4.17% 16.20% -2.75% 10.22% 2.03% 17.16% 9.59% 16.33% 0.72% 17.79%
Bottom Quartile 4.03% 15.81% -3.30% 9.68% 1.68% 16.27% 9.14% 15.71% -0.07% 17.59%
BEASSA Inflation Linked 2.04% 6.27% 3.68% 11.16% 0.80% 19.35% 13.06% 10.98% 7.65% 13.61%
GraySwan Bond Peergroup 4.23% 16.17% -2.36% 10.35% 2.14% 17.01% 9.61% 16.24% 0.62% 17.58%
23
5 YEAR ANNUALISED VOLATILITY & RETURN
ABSA AM Bond
Aluwani SA Bond
Argon Specialist SA Core Bond
Atlantic Bond
Cadiz Houseview Bond
Coronation Active Bond
Coronation Strategic Bond
Futuregrowth Active Bond
Futuregrowth Core Bond
Futuregrowth Infrastructure Bond
Futuregrowth Yield Enhanced BondInvestec Corporate Bond
Investec Flexible Bond
Investec Triple Alpha
JM Busha Bond Plus
MMI SA Bond
Pan-African Active Bond
Prescient Bond Quant
Prescient Bond Quantplus
Prowess Corporate Bond
Prudential Yield Enhanced Bonds
SIM Institutional Bond
Stanlib Core Bond Vunani Domestic Active Bond
ALBI
BEASSA Inflation Linked
GraySwan Bond Peergroup (Gross)
7.00%
7.50%
8.00%
8.50%
9.00%
9.50%
10.00%
5.50% 6.00% 6.50% 7.00% 7.50% 8.00% 8.50%
AN
NU
ALI
SED
RET
UR
N
ANNUALISED VOLATILITY
ER = 1
24
9 YEAR ANNUALISED VOLATILITY & RETURN
ABSA AM Bond
Aluwani SA Bond
Argon Specialist SA Core Bond
Cadiz Houseview Bond
Coronation Active Bond
Coronation Strategic Bond
Futuregrowth Active Bond
Futuregrowth Core Bond
Futuregrowth Infrastructure Bond
Futuregrowth Yield Enhanced Bond
Investec Corporate Bond
Investec Flexible Bond
Investec Triple Alpha
JM Busha Bond Plus
MMI SA Bond
Pan-African Active Bond
Prescient Bond Quant
Prescient Bond Quantplus
Prudential Yield Enhanced Bonds
SIM Institutional Bond
Stanlib Core Bond
Vunani Domestic Active Bond
ALBI
BEASSA Inflation Linked
GraySwan Bond Peergroup (Gross)
9.00%
9.50%
10.00%
10.50%
11.00%
11.50%
12.00%
5.50% 6.00% 6.50% 7.00% 7.50% 8.00%
AN
NU
ALI
SED
RET
UR
N
ANNUALISED VOLATILITY
ER = 2
26
5 YEAR PERFORMANCE
0.00% 5.00% 10.00% 15.00% 20.00% 25.00% 30.00%
JSE SWIX
Old Mutual SA Listed Property Index
SAPY
MMI SA Property
SIM Property Fund
Meago Composite
Prescient Property Equity
Prudential Enhanced SA Property
STANLIB Institutional Property
Investec Property Equity
Median
Old Mutual SA Quoted Property
Coronation Property Equity
GraySwan Listed Property Peergroup (Gross)
Mean
Catalyst SA Property Equity PSG
Catalyst SA Property
Bridge Fund Managers Listed Property
Metope Listed Property
Sesfikile SA Listed Property
ABSA AM Property Equity
FIVE YEAR ABSOLUTE PERFORMANCE
27
ABSOLUTE PERFORMANCE
Portfolio3
Months Ran
k
YTD
Ran
k 1Year R
ank 2
Year Ran
k 3Year R
ank 5
Year Ran
k 8Year R
ank
ABSA AM Property Equity 2.67% 1 4.75% 2 5.47% 2 12.45% 1 27.45% 1 24.32% 1
Catalyst SA Property 0.97% 8 2.34% 12 1.53% 8 6.64% 3 17.61% 3 18.03% 5 18.79% 3
Catalyst SA Property Equity PSG 0.94% 9 2.32% 13 1.01% 12 6.28% 6 17.25% 4 17.83% 6 18.69% 4
Coronation Property Equity 0.92% 10 2.38% 10 1.86% 5 4.47% 15 14.58% 15 17.20% 7 18.79% 2
Bridge Fund Managers Listed Property 2.57% 2 5.20% 1 19.26% 1 7.50% 2 16.64% 6 18.17% 4
Investec Property Equity 1.10% 5 2.58% 5 0.58% 14 4.67% 12 15.57% 10 17.01% 9 17.67% 8
Meago Composite 0.81% 11 2.42% 9 1.23% 10 5.33% 8 15.67% 9 16.10% 13 17.25% 9
Metope Listed Property 1.05% 6 2.71% 4 1.01% 11 6.49% 4 17.71% 2 18.42% 3 19.25% 1
MMI SA Property 0.52% 14 2.46% 8 -0.86% 17 4.75% 11 14.72% 14 15.72% 15 17.09% 10
Old Mutual SA Listed Property Index 0.26% 16 1.91% 16 0.04% 15 2.80% 17 13.57% 17 15.22% 16
Old Mutual SA Quoted Property 2.16% 3 3.35% 3 1.23% 9 5.64% 7 16.21% 7 17.04% 8 18.23% 6
Prescient Property Equity 0.37% 15 2.02% 15 0.76% 13 4.51% 14 15.35% 12 16.29% 12 15.40% 12
Prudential Enhanced SA Property 0.56% 13 2.32% 14 1.55% 7 5.22% 10 15.52% 11 16.60% 11 18.17% 7
Satrix Property Index 0.23% 17 1.87% 17 -0.07% 16 3.69% 16 14.04% 16
Sesfikile SA Listed Property 1.03% 7 2.54% 6 1.77% 6 6.45% 5 17.18% 5 18.44% 2
SIM Property Fund 0.59% 12 2.35% 11 2.64% 4 4.67% 13 14.73% 13 15.86% 14 16.90% 11
STANLIB Institutional Property 1.14% 4 2.48% 7 3.63% 3 5.24% 9 15.86% 8 16.77% 10 18.56% 5
SAPY 0.24% 1.88% 0.02% 3.24% 13.80% 15.33% 17.16%
Top Quartile 1.09% 2.57% 1.84% 6.41% 17.04% 18.07% 18.71%
Mean 0.88% 2.56% 1.97% 5.20% 15.97% 17.44% 17.90%
Median 0.93% 2.40% 1.23% 5.23% 15.62% 17.02% 18.20%
Bottom Quartile 0.53% 2.32% 0.63% 4.55% 14.73% 16.24% 17.21%
JSE SWIX 4.80% 7.49% 4.41% 2.00% 7.96% 13.57% 16.94%
GraySwan Listed Property Peergroup 1.13% 2.82% 2.47% 5.46% 16.09% 17.39% 18.65%
28
ABSOLUTE CALENDAR YEAR PERFORMANCE
Portfolio 2017
Ran
k
2016
Ran
k
2015
Ran
k
2014
Ran
k
2013
Ran
k
2012
Ran
k
2011
Ran
k
2010
Ran
k
2009
Ran
k
2008
Ran
k
ABSA AM Property Equity 4.75% 2 11.72% 4 30.40% 1 42.30% 1 11.27% 4 35.57% 9
Catalyst SA Property 2.34% 12 10.84% 7 16.00% 3 29.39% 3 9.88% 8 35.53% 10 7.92% 12 27.84% 7 15.95% 4 -4.26% 7
Catalyst SA Property Equity PSG 2.32% 13 10.24% 10 15.80% 4 29.25% 4 9.74% 11 35.85% 8 8.70% 7 26.94% 9 16.74% 2 -4.33% 8
Coronation Property Equity 2.38% 10 9.60% 13 10.11% 12 27.17% 13 12.87% 3 38.84% 1 10.24% 3 28.46% 6 16.34% 3 -2.90% 5
Bridge Fund Managers Listed Property 5.20% 1 16.43% 1 8.15% 15 25.72% 17 11.24% 5 36.84% 6 12.34% 1
Investec Property Equity 2.58% 5 6.83% 16 14.04% 7 28.43% 7 9.86% 9 38.54% 2 8.23% 10 28.99% 5 11.72% 12 -0.87% 2
Meago Composite 2.42% 9 10.99% 6 10.88% 10 27.36% 11 8.23% 16 34.86% 12 8.68% 8 27.77% 8 14.05% 10
Metope Listed Property 2.71% 4 9.96% 12 15.52% 5 30.07% 2 11.24% 6 38.29% 3 8.46% 9 31.41% 1 14.84% 9 -2.91% 6
MMI SA Property 2.46% 8 8.30% 15 11.78% 8 26.03% 16 8.02% 17 37.22% 4 10.25% 2 22.80% 11 15.68% 5 -9.06% 11
Old Mutual SA Listed Property Index 1.91% 16 10.26% 9 6.99% 18 26.93% 14 8.58% 15
Old Mutual SA Quoted Property 3.35% 3 5.04% 17 17.70% 2 28.65% 6 9.69% 12 35.38% 11 8.99% 6 29.37% 4 15.33% 6 -5.22% 9
Prescient Property Equity 2.02% 15 9.53% 14 11.47% 9 27.97% 9 9.63% 13 30.78% 15 8.06% 11 16.63% 12 13.21% 11 3.32% 1
Prudential Enhanced SA Property 2.32% 14 11.17% 5 10.82% 11 27.34% 12 10.04% 7 34.81% 13 9.72% 5 30.57% 2 15.25% 8 -2.20% 3
Satrix Property Index 1.87% 17 10.04% 11 8.98% 14 26.34% 15 8.01% 18
Sesfikile SA Listed Property 2.54% 6 10.38% 8 14.91% 6 29.17% 5 13.09% 2 36.85% 5
SIM Property Fund 2.35% 11 11.88% 3 7.87% 16 27.53% 10 9.83% 10 32.21% 14 6.97% 13 24.32% 10 15.31% 7 -8.48% 10
STANLIB Institutional Property 2.48% 7 12.46% 2 9.71% 13 27.99% 8 9.47% 14 36.16% 7 9.76% 4 29.40% 3 17.38% 1 -2.70% 4
SAPY 1.88% 10.20% 7.99% 26.65% 8.39% 35.89% 8.92% 29.63% 14.06% -4.47%
Top Quartile 2.57% 11.13% 15.37% 29.04% 11.24% 37.04% 9.76% 29.37% 16.05% -2.45%
Mean 2.56% 9.72% 12.69% 28.19% 10.23% 35.85% 9.10% 27.04% 15.15% -3.60%
Median 2.40% 10.25% 11.17% 27.75% 9.85% 35.85% 8.70% 28.15% 15.32% -2.91%
Bottom Quartile 2.32% 9.55% 9.17% 26.99% 9.51% 35.12% 8.23% 26.29% 14.64% -4.77%
JSE SWIX 7.49% 4.13% 3.61% 15.41% 20.73% 29.10% 4.24% 20.86% 29.91% -21.67%
GraySwan Listed Property Peergroup 2.82% 9.96% 12.59% 28.03% 11.31% 36.08% 10.07% 28.39% 15.90% -4.07%
29
5 YEAR ANNUALISED VOLATILITY & RETURN
ABSA AM Property Equity
Catalyst SA Property
Catalyst SA Property Equity PSG
Coronation Property Equity
Bridge Fund Managers Listed Property
Investec Property Equity
Meago Composite
Metope Listed Property
MMI SA Property
Old Mutual SA Listed Property Index
Old Mutual SA Quoted Property
Prescient Property Equity
Prudential Enhanced SA Property
Sesfikile SA Listed Property
SIM Property Fund
STANLIB Institutional Property
SAPY
JSE SWIX
GraySwan Listed Property Peergroup (Gross)
13.50%
15.50%
17.50%
19.50%
21.50%
23.50%
25.50%
9.50% 10.00% 10.50% 11.00% 11.50% 12.00% 12.50% 13.00% 13.50% 14.00% 14.50%
AN
NU
ALI
SED
RET
UR
N
ANNUALISED VOLATILITY
ER = 2
ER = 1
30
9 YEAR ANNUALISED VOLATILITY & RETURN
Catalyst SA Property
Catalyst SA Property Equity PSGCoronation Property Equity
Investec Property Equity
Metope Listed Property
MMI SA Property
Old Mutual SA Quoted Property
Prescient Property Equity
Prudential Enhanced SA Property
SIM Property Fund
STANLIB Institutional Property
SAPY
JSE SWIX
GraySwan Listed Property Peergroup (Gross)
11.00%
12.00%
13.00%
14.00%
15.00%
16.00%
17.00%
18.00%
19.00%
20.00%
13.00% 13.50% 14.00% 14.50% 15.00%
AN
NU
ALI
SED
RET
UR
N
ANNUALISED VOLATILITY
ER = 1
32
5 YEAR PERFORMANCE
0.00% 2.00% 4.00% 6.00% 8.00% 10.00% 12.00% 14.00% 16.00% 18.00%
Stanlib Core Equity
Afena Capital SWIX
Prescient Equity
Kagiso Core SWIX
JM Busha Diversified Equity
Mianzo Active Equity
OMIG Managed Volatility
Stanlib Enhanced Index
JSE ALSI
Aluwani Equity
Vunani Core Equity
SIM Aggressive Equity
GraySwan Constrained Equity Peergroup (Gross)
Mean
JSE SWIX
Old Mutual Equities SWIX
Median
Mergence ESG Equity
Coronation Core Equity
OMIG Premium Equity
SIM Moderate Equity
Argon Value Equity
OMIG Double Alpha SWIX 40
Sentio General Equity
Mergence SWIX
Aeon Active Equity
OMIG Managed Alpha Equity
Prudential Core Equity SWIX
FIVE YEAR ABSOLUTE PERFORMANCE
33
ABSOLUTE PERFORMANCE
Portfolio3
Months Ran
k
YTD
Ran
k 1Year R
ank 2
Year Ran
k 3Year R
ank 5
Year Ran
k 8Year R
ank
Aeon Active Equity 7.13% 1 10.36% 1 7.03% 4 3.66% 3 8.98% 5 15.15% 3 17.33% 5
Afena Capital SWIX 4.10% 14 6.94% 16 5.89% 6 1.42% 16 4.69% 23 10.85% 22 14.24% 15
Aluwani Equity 3.56% 18 7.06% 15 4.21% 17 1.61% 14 7.23% 13 12.75% 15 17.03% 7
Argon Value Equity 5.25% 6 7.42% 12 3.72% 20 1.89% 12 8.30% 7 14.57% 7 16.58% 9
Coronation Core Equity 5.41% 4 9.24% 2 5.72% 8 1.80% 13 7.06% 15 14.31% 10 18.25% 3
JM Busha Diversified Equity -1.24% 26 4.33% 24 4.49% 15 -1.45% 23 3.71% 24 11.73% 19
Kagiso Core SWIX 4.58% 10 8.16% 7 5.83% 7 0.99% 18 3.71% 25 11.38% 20 15.46% 12
Mergence ESG Equity 4.08% 15 5.84% 20 3.79% 19 1.56% 15 8.23% 10 13.98% 11
Mergence SWIX 4.29% 11 6.54% 18 5.18% 11 3.21% 5 8.89% 6 14.95% 4 17.13% 6
Mianzo Active Equity 2.60% 23 5.81% 21 5.07% 12 0.57% 20 4.98% 22 12.16% 18
Mianzo Enhanced Equity 4.17% 13 7.32% 14 5.89% 5 1.34% 17 6.99% 16
Mvunonala Core Satelite Equity 4.97% 7 7.40% 13 0.74% 24 -2.28% 25 5.85% 20
Old Mutual Equities SWIX 3.20% 20 6.14% 19 2.25% 22 0.50% 21 7.06% 14 13.70% 12 16.37% 10
OMIG Double Alpha SWIX 40 6.45% 2 9.13% 3 4.90% 13 2.30% 10 8.26% 8 14.78% 6
OMIG Managed Alpha Equity 4.79% 9 7.64% 9 4.69% 14 3.19% 6 9.48% 2 15.49% 2 18.61% 1
OMIG Managed Volatility 2.62% 22 5.08% 23 1.00% 23 0.89% 19 8.26% 9 12.59% 17
OMIG Premium Equity 5.51% 3 8.58% 4 8.19% 2 5.09% 1 9.52% 1 14.50% 9
Prescient Equity 3.34% 19 6.83% 17 0.52% 25 -1.70% 24 5.38% 21 10.99% 21 15.37% 14
Prudential Core Equity SWIX 4.21% 12 7.54% 11 8.29% 1 3.43% 4 9.29% 4 15.50% 1 18.60% 2
Sentio General Equity 2.22% 24 4.25% 25 5.19% 10 2.82% 7 8.11% 11 14.84% 5
SIM Aggressive Equity 2.96% 21 7.63% 10 7.74% 3 4.43% 2 6.97% 17 12.92% 13 16.72% 8
SIM Moderate Equity 4.91% 8 7.77% 8 5.64% 9 2.40% 9 7.84% 12 14.54% 8 18.02% 4
Stanlib Core Equity 0.24% 25 2.05% 26 -4.28% 26 -3.09% 26 2.31% 26 9.75% 23 15.43% 13
Stanlib Enhanced Index 5.39% 5 8.30% 6 4.01% 18 0.37% 22 6.60% 19 12.61% 16 16.20% 11
Truffle SWIX Equity 3.78% 17 8.55% 5 3.39% 21 2.30% 11 9.37% 3
Vunani Core Equity 3.95% 16 5.59% 22 4.28% 16 2.63% 8 6.91% 18 12.81% 14
JSE SWIX 4.80% 7.49% 4.41% 2.00% 7.96% 13.57% 16.94%
Top Quartile 4.95% 8.07% 5.80% 2.77% 8.29% 14.68% 17.68%
Mean 3.94% 6.98% 4.36% 1.53% 7.08% 13.34% 16.75%
Median 4.14% 7.36% 4.80% 1.70% 7.14% 13.70% 16.72%
Bottom Quartile 3.23% 5.92% 3.74% 0.65% 6.03% 12.37% 15.83%
JSE ALSI 3.11% 7.56% 4.50% 2.33% 6.33% 12.67% 16.01%
GraySwan Constrained Equity Peergroup 3.90% 6.95% 4.51% 1.76% 7.01% 13.11% 16.77%
34
ABSOLUTE CALENDAR YEAR PERFORMANCE
Portfolio 2017
Ran
k
2016
Ran
k
2015
Ran
k
2014
Ran
k
2013
Ran
k
2012
Ran
k
2011
Ran
k
2010
Ran
k
2009
Ran
k
2008
Ran
k
Aeon Active Equity 10.36% 1 1.87% 16 7.13% 9 13.50% 18 28.22% 2 27.14% 16 3.18% 19 20.64% 10 27.82% 12
Afena Capital SWIX 6.94% 16 8.39% 3 -1.52% 21 8.26% 26 20.25% 19 19.05% 23 2.73% 20 17.48% 16 31.91% 5 -18.83% 3
Aluwani Equity 7.06% 15 -1.68% 23 9.65% 3 13.59% 17 21.58% 17 27.88% 14 5.91% 7 19.32% 13 31.29% 7 -19.81% 5
Argon Value Equity 7.42% 12 0.36% 20 9.81% 2 16.22% 4 25.26% 11 26.00% 18 0.89% 21 18.64% 15 27.39% 15 -21.45% 10
Coronation Core Equity 9.24% 2 5.55% 9 0.34% 19 12.25% 19 29.00% 1 28.28% 12 5.58% 8 24.74% 2 33.31% 3 -13.36% 1
JM Busha Diversified Equity 4.33% 24 7.03% 5 -5.58% 26 12.06% 20 22.58% 15 34.58% 2
Kagiso Core SWIX 8.16% 7 6.05% 6 -4.73% 25 9.65% 24 25.94% 8 25.08% 21 4.30% 12 20.97% 8 33.50% 2 -19.90% 6
Mergence ESG Equity 5.84% 20 3.02% 14 5.22% 15 16.79% 2 21.55% 18 31.02% 9 4.53% 11
Mergence SWIX 6.54% 18 4.68% 12 7.31% 8 14.61% 14 25.45% 10 26.87% 17 6.22% 5 14.44% 18 30.73% 8 -18.89% 4
Mianzo Active Equity 5.81% 21 9.45% 2 -4.02% 24 11.56% 21 27.52% 5 28.19% 13 3.69% 14
Mianzo Enhanced Equity 7.32% 14 7.91% 4 -1.61% 22 14.38% 16
Mvunonala Core Satelite Equity 7.40% 13 -4.57% 26 5.91% 13 16.64% 3
Old Mutual Equities SWIX 6.14% 19 0.11% 21 6.77% 10 15.58% 8 27.59% 4 25.10% 20 3.87% 13 16.59% 17 28.39% 11 -20.56% 7
OMIG Double Alpha SWIX 40 9.13% 3 0.87% 18 6.64% 11 15.19% 11 23.80% 13 31.27% 6 6.02% 6 20.54% 11
OMIG Managed Alpha Equity 7.64% 9 2.07% 15 8.78% 4 15.69% 6 24.91% 12 33.53% 3 3.58% 16 22.72% 4 27.54% 13 -21.40% 9
OMIG Managed Volatility 5.08% 23 1.71% 17 7.45% 7 15.49% 9 16.24% 24 31.13% 7 10.76% 2 24.82% 1
OMIG Premium Equity 8.58% 4 5.70% 8 6.12% 12 14.79% 13 17.97% 23 31.73% 5 12.21% 1 18.98% 14
Prescient Equity 6.83% 17 -1.76% 24 3.70% 16 15.65% 7 18.01% 22 25.47% 19 3.64% 15 21.30% 7 31.33% 6 -22.14% 12
Prudential Core Equity SWIX 7.54% 11 5.86% 7 5.82% 14 15.11% 12 28.06% 3 30.01% 11 6.67% 3 20.42% 12 27.49% 14 -16.06% 2
Sentio General Equity 4.25% 25 4.71% 11 7.76% 5 15.96% 5 23.03% 14 31.08% 8 4.55% 10
SIM Aggressive Equity 7.63% 10 13.19% 1 -1.97% 23 10.95% 22 25.61% 9 20.04% 22 3.48% 17 22.85% 3 33.53% 1 -21.03% 8
SIM Moderate Equity 7.77% 8 5.30% 10 3.42% 17 14.49% 15 26.84% 6 27.46% 15 4.62% 9 21.88% 6 33.07% 4
Stanlib Core Equity 2.05% 26 -0.07% 22 -0.37% 20 10.09% 23 18.64% 21 35.68% 1 6.45% 4 22.68% 5 28.54% 10 -29.62% 13
Stanlib Enhanced Index 8.30% 6 0.67% 19 2.96% 18 15.48% 10 18.89% 20 30.85% 10 3.34% 18 20.95% 9 29.81% 9 -21.55% 11
Truffle SWIX Equity 8.55% 5 -2.87% 25 14.41% 1 17.92% 1 26.65% 7
Vunani Core Equity 5.59% 22 4.36% 13 7.60% 6 9.19% 25 21.88% 16 31.80% 4
JSE SWIX 7.49% 4.13% 3.61% 15.41% 20.73% 29.10% 4.24% 20.86% 29.91% -21.67%
Top Quartile 8.07% 5.82% 7.41% 15.63% 26.70% 31.20% 6.02% 22.48% 32.49% -18.89%
Mean 6.98% 3.38% 4.12% 13.89% 23.56% 28.66% 5.06% 20.55% 30.38% -20.35%
Median 7.36% 3.69% 5.87% 14.70% 24.35% 28.28% 4.53% 20.80% 30.73% -20.56%
Bottom Quartile 5.92% 0.44% -0.19% 12.11% 21.22% 26.44% 3.58% 19.06% 28.11% -21.45%
JSE ALSI 7.56% 2.63% 5.13% 10.88% 21.44% 26.68% 2.57% 18.99% 32.13% -23.25%
GraySwan Constrained Equity Peergroup 6.95% 3.46% 4.13% 13.22% 22.38% 28.14% 4.65% 20.69% 30.57% -20.41%
35
5 YEAR ANNUALISED VOLATILITY & RETURN
Aeon Active Equity
Afena Capital SWIX
Aluwani Equity
Argon Value Equity
Coronation Core Equity
JM Busha Diversified Equity
Kagiso Core SWIX
Mergence ESG Equity
Mergence SWIX
Mianzo Active Equity
Old Mutual Equities SWIX
OMIG Double Alpha SWIX 40
OMIG Managed Alpha Equity
OMIG Managed Volatility
OMIG Premium Equity
Prescient Equity
Prudential Core Equity SWIX
Sentio General Equity
SIM Aggressive Equity
SIM Moderate Equity
Stanlib Core Equity
Stanlib Enhanced Index
Vunani Core Equity
JSE SWIX
JSE ALSI
GraySwan Constrained Equity Peergroup (Gross)
9.50%
10.50%
11.50%
12.50%
13.50%
14.50%
15.50%
16.50%
8.50% 9.00% 9.50% 10.00% 10.50% 11.00% 11.50%
AN
NU
ALI
SED
RET
UR
N
ANNUALISED VOLATILITY
ER = 1
36
9 YEAR ANNUALISED VOLATILITY & RETURN
Afena Capital SWIX
Aluwani Equity
Argon Value Equity
Coronation Core Equity
Kagiso Core SWIX
Mergence SWIX
Old Mutual Equities SWIX
OMIG Managed Alpha Equity
Prescient Equity
Prudential Core Equity SWIX
SIM Aggressive Equity
Stanlib Core Equity
Stanlib Enhanced Index
JSE SWIX
JSE ALSI
GraySwan Constrained Equity Peergroup (Gross)
8.00%
9.00%
10.00%
11.00%
12.00%
13.00%
14.00%
12.50% 13.00% 13.50% 14.00% 14.50% 15.00%
AN
NU
ALI
SED
RET
UR
N
ANNUALISED VOLATILITY
ER = 1
38
5 YEAR PERFORMANCE
0,00% 2,00% 4,00% 6,00% 8,00% 10,00% 12,00% 14,00% 16,00% 18,00%
RE:CM Equity
Element Equity
Cannon ALSI Institutional
Stanlib Unconstrained Equity
Stanlib Value Equity
Investec Value Equity
Afena Capital Aggressive Equity
SIM Unconstrained Equity
ABSA AM Select Equity
Oasis Specialist Domestic Equity
Maestro Prescient Equity
Kagiso Managed Equity Fund
GraySwan Unconstrained Equity Peergroup (Gross)
Mean
Electus Equity
Laurium Equity Long Short
First Avenue Equity
JSE ALSI
Median
Coronation Aggressive Equity
First Avenue Focused Equity
Aylett Institutional Equity
Ashburton Equity
JSE SWIX
ClucasGray Equity
Foord Specialist Equity SWIX
Foord Specialist Domestic Equity
Visio SWIX
Coronation Houseview Equity
Prudential Deep Value Equity
ABAX Equity Fund
MAZI Capital Equity SWIX
Investec General Equity
Allan Gray Domestic Equity (Pool)
Fairtree Capital Equity
FIVE YEAR ABSOLUTE PERFORMANCE
39
ABSOLUTE PERFORMANCE
Portfolio3
Months Ran
k
YTD
Ran
k 1Year R
ank 2Year R
ank 3
Year Ran
k 5Year R
ank 8
Year Ran
k
ABAX Equity Fund 5.70% 3 7.85% 6 4.76% 16 2.69% 11 8.84% 7 15.12% 5 18.23% 6
ABSA AM Select Equity 0.65% 25 4.22% 25 2.34% 29 -1.33% 33 3.17% 26 9.57% 22 15.20% 14
Afena Capital Aggressive Equity 1.61% 21 4.46% 23 6.77% 10 1.32% 26 1.12% 30 8.55% 24
Allan Gray Domestic Equity (Pool) 2.83% 15 5.40% 18 5.83% 11 7.06% 2 9.46% 4 15.51% 2 17.91% 7
Anchor BCI SA Equity -0.46% 32 1.77% 32 -3.63% 36 -0.64% 32
Ashburton Equity 3.31% 14 4.92% 21 2.85% 24 1.94% 19 6.46% 18 13.50% 12 17.42% 10
Aylett Institutional Equity -0.25% 30 2.37% 31 11.22% 3 5.37% 3 7.71% 11 13.43% 13 17.18% 11
Bateleur Equity 5.25% 6 7.00% 9 4.88% 15 3.72% 6 11.78% 1
Cannon ALSI Institutional -5.14% 36 -2.29% 37 8.76% 5 1.70% 20 -0.65% 33 3.97% 28 10.24% 23
ClucasGray Equity 1.38% 23 4.54% 22 7.71% 8 2.49% 14 8.44% 10 13.65% 11
Coronation Aggressive Equity 4.69% 7 9.14% 1 8.99% 4 3.00% 9 5.08% 23 13.01% 15 17.87% 9
Coronation Houseview Equity 5.32% 5 8.87% 3 5.56% 12 2.01% 18 6.35% 19 14.55% 7 18.35% 5
Electus Equity 2.39% 18 5.49% 15 7.93% 7 0.94% 28 6.50% 17 11.74% 18 16.09% 13
Element Equity 1.79% 19 6.15% 11 4.72% 17 2.77% 10 -0.33% 32 3.92% 29 8.24% 25
Fairtree Capital Equity 1.66% 20 7.42% 7 5.53% 13 4.38% 5 11.31% 2 16.67% 1
First Avenue Equity 5.34% 4 6.65% 10 2.80% 26 1.33% 25 7.31% 13 12.34% 16
First Avenue Focused Equity 7.25% 1 8.17% 5 2.59% 27 2.54% 13 8.45% 9 13.14% 14
Foord Specialist Domestic Equity 3.93% 8 5.45% 16 3.09% 21 1.30% 27 6.34% 20 13.99% 9 19.02% 3
Foord Specialist Equity SWIX 3.90% 9 5.44% 17 3.26% 20 1.37% 23 6.26% 21 13.82% 10 18.90% 4
JSE SWIX 4.80% 7.49% 4.41% 2.00% 7.96% 13.57% 16.94%
Top Quartile 3.90% 6.65% 6.77% 2.77% 8.44% 14.22% 17.91%
Mean 1.91% 4.86% 4.41% 1.83% 5.53% 11.38% 15.44%
Median 1.79% 5.24% 3.92% 1.94% 6.46% 12.68% 16.09%
Bottom Quartile 0.16% 3.01% 2.48% 0.94% 2.96% 9.34% 12.92%
JSE ALSI 3.11% 7.56% 4.50% 2.33% 6.33% 12.67% 16.01%
GraySwan Unconstrained Equity Peergroup 1.88% 4.96% 4.05% 1.59% 4.35% 10.64% 15.31%
40
ABSOLUTE PERFORMANCE (continued)
Portfolio3
Months Ran
k
YTD
Ran
k 1Year R
ank 2Year R
ank 3
Year Ran
k 5Year R
ank 8
Year Ran
k
Investec General Equity 1.53% 22 5.19% 20 2.06% 30 3.49% 7 10.66% 3 15.49% 3 17.12% 12
Investec Value Equity -6.96% 37 1.26% 34 -0.86% 34 10.10% 1 5.05% 24 7.73% 25 12.80% 20
Kagiso Managed Equity Fund 3.90% 10 8.93% 2 8.03% 6 2.58% 12 3.23% 25 10.12% 19 15.07% 15
Laurium Equity Long Short 0.93% 24 5.59% 13 4.92% 14 2.26% 15 7.39% 12 12.03% 17 14.03% 18
Maestro Prescient Equity 2.60% 17 2.77% 30 2.80% 25 -2.52% 36 5.13% 22 9.89% 20 12.55% 21
MAZI Capital Equity SWIX 2.73% 16 5.90% 12 1.65% 33 1.53% 22 8.90% 6 15.14% 4 20.43% 1
Mvunonala Pure Active Equity SWIX 5.90% 2 8.55% 4 1.75% 31 -1.45% 34 6.70% 16
Oasis Specialist Domestic Equity -0.16% 29 2.92% 29 3.92% 19 0.39% 29 2.39% 28 9.83% 21 14.41% 16
Perpetua Domestic Specialist Equity 0.16% 28 3.68% 26 3.02% 22 1.36% 24 2.76% 27
Prudential Deep Value Equity 3.68% 11 7.06% 8 7.56% 9 3.42% 8 8.74% 8 14.70% 6 17.89% 8
PSG SA Equity -0.38% 31 0.95% 35 12.86% 2 2.23% 16 7.16% 15
RE:CM Equity -1.31% 35 3.44% 27 18.01% 1 1.60% 21 -3.14% 35 2.59% 30 8.69% 24
SIM Unconstrained Equity 0.54% 26 3.01% 28 2.48% 28 -2.17% 35 1.77% 29 9.26% 23 14.17% 17
Stanlib Unconstrained Equity -0.58% 33 1.47% 33 -2.99% 35 -5.63% 37 -2.94% 34 6.11% 27 11.65% 22
Stanlib Value Equity 0.50% 27 4.43% 24 -6.83% 37 -0.46% 31 0.07% 31 7.71% 26 12.92% 19
Steyn Capital Long Only Equity 3.44% 13 5.24% 19 1.71% 32 4.99% 4
Tower Capital Equity -0.84% 34 0.91% 36 4.17% 18 2.17% 17 9.03% 5
Visio SWIX 3.65% 12 5.53% 14 2.94% 23 -0.05% 30 7.17% 14 14.29% 8 19.62% 2
JSE SWIX 4.80% 7.49% 4.41% 2.00% 7.96% 13.57% 16.94%
Top Quartile 3.90% 6.65% 6.77% 2.77% 8.44% 14.22% 17.91%
Mean 1.91% 4.86% 4.41% 1.83% 5.53% 11.38% 15.44%
Median 1.79% 5.24% 3.92% 1.94% 6.46% 12.68% 16.09%
Bottom Quartile 0.16% 3.01% 2.48% 0.94% 2.96% 9.34% 12.92%
JSE ALSI 3.11% 7.56% 4.50% 2.33% 6.33% 12.67% 16.01%
GraySwan Unconstrained Equity Peergroup 1.88% 4.96% 4.05% 1.59% 4.35% 10.64% 15.31%
41
ABSOLUTE CALENDAR YEAR PERFORMANCE
Portfolio 2017
Ran
k
2016
Ran
k
2015
Ran
k
2014
Ran
k
2013
Ran
k
2012
Ran
k
2011
Ran
k
2010
Ran
k
2009
Ran
k
2008
Ran
k
ABAX Equity Fund 7.85% 6 -0.97% 31 11.01% 8 14.77% 9 28.04% 4 27.06% 11 8.91% 5 20.81% 17 28.71% 17 -21.58% 18
ABSA AM Select Equity 4.22% 25 4.74% 20 -3.25% 25 12.39% 21 18.74% 24 24.03% 17 6.27% 11 24.32% 8 36.64% 2 -3.61% 1
Afena Capital Aggressive Equity 4.46% 23 24.76% 4 -14.58% 34 1.80% 30 17.05% 27 20.02% 22 2.72% 21
Allan Gray Domestic Equity (Pool) 5.40% 18 13.51% 12 5.23% 15 15.92% 6 24.51% 14 19.58% 23 9.00% 4 20.17% 19 25.67% 21 -11.93% 4
Anchor BCI SA Equity 1.77% 32 -7.22% 37 16.82% 1
Ashburton Equity 4.92% 21 3.13% 23 3.82% 17 13.13% 19 26.87% 7 31.05% 6 9.81% 3 21.97% 14 23.38% 23 -20.58% 17
Aylett Institutional Equity 2.37% 31 18.32% 8 -2.18% 24 14.41% 13 23.83% 15 20.50% 20 5.62% 12 22.04% 13 35.91% 4 -8.70% 2
Bateleur Equity 7.00% 9 2.15% 28 13.44% 4 20.29% 1 26.92% 6
Cannon ALSI Institutional -2.29% 37 21.16% 7 -10.83% 30 -1.90% 32 16.02% 30 12.91% 26 -1.71% 25 18.69% 20 35.40% 5 -26.55% 20
ClucasGray Equity 4.54% 22 10.13% 14 1.53% 21 13.89% 17 23.14% 18 26.23% 12
Coronation Aggressive Equity 9.14% 1 15.98% 10 -8.84% 27 7.06% 28 30.91% 2 25.82% 14 5.05% 13 27.92% 2 36.73% 1 -15.08% 7
Coronation Houseview Equity 8.87% 3 6.83% 17 0.10% 22 10.11% 25 32.52% 1 27.60% 9 3.50% 18 25.81% 5 35.11% 6 -16.50% 12
Electus Equity 5.49% 15 7.66% 16 -0.39% 23 14.00% 16 24.63% 13 17.89% 24 2.47% 22 23.68% 9 32.14% 9 -26.70% 21
Element Equity 6.15% 11 21.57% 5 -16.14% 35 1.14% 31 2.16% 32 11.16% 27 3.96% 16 14.76% 23 26.68% 19 -12.38% 5
Fairtree Capital Equity 7.42% 7 9.40% 15 6.61% 13 18.24% 2 23.81% 16 29.84% 8
First Avenue Equity 6.65% 10 -2.68% 33 9.52% 10 13.85% 18 20.21% 22 31.19% 5
First Avenue Focused Equity 8.17% 5 -4.14% 35 12.86% 5 14.28% 14 20.78% 21
Foord Specialist Domestic Equity 5.45% 16 3.11% 24 2.90% 19 16.05% 5 28.49% 3 32.47% 3 8.10% 6 25.83% 4 31.21% 14 -15.96% 9
Foord Specialist Equity SWIX 5.44% 17 3.28% 22 2.92% 18 15.65% 8 27.86% 5 32.27% 4 7.83% 7 25.71% 6 31.39% 13 -15.96% 8
JSE SWIX 7.49% 4.13% 3.61% 15.41% 20.73% 29.10% 4.24% 20.86% 29.91% -21.67%
Top Quartile 6.65% 15.98% 9.52% 14.73% 26.12% 29.84% 7.78% 25.00% 33.23% -14.06%
Mean 4.86% 9.54% 0.25% 11.28% 21.60% 23.63% 5.25% 21.94% 30.65% -18.18%
Median 5.24% 5.09% 2.90% 13.87% 23.77% 25.51% 4.90% 22.04% 31.45% -16.50%
Bottom Quartile 3.01% 2.15% -9.49% 9.60% 18.02% 20.02% 3.26% 20.17% 27.94% -21.08%
JSE ALSI 7.56% 2.63% 5.13% 10.88% 21.44% 26.68% 2.57% 18.99% 32.13% -23.25%
GraySwan Unconstrained Equity Peergroup 4.96% 10.55% -3.39% 9.54% 20.85% 22.39% 4.29% 21.47% 32.67% -20.34%
42
ABSOLUTE CALENDAR YEAR PERFORMANCE (continued)
Portfolio 2017
Ran
k
2016
Ran
k
2015
Ran
k
2014
Ran
k
2013
Ran
k
2012
Ran
k
2011
Ran
k
2010
Ran
k
2009
Ran
k
2008
Ran
k
Investec General Equity 5.19% 20 2.47% 26 15.26% 2 17.72% 3 22.44% 19 25.14% 16 6.51% 10 14.60% 25 26.48% 20 -25.10% 19
Investec Value Equity 1.26% 34 53.50% 1 -18.81% 36 13.09% 20 -0.29% 33 3.03% 29 1.48% 24 25.00% 7 32.04% 10 -13.04% 6
Kagiso Managed Equity Fund 8.93% 2 10.64% 13 -8.71% 26 7.67% 27 25.11% 12 20.17% 21 4.64% 15 22.51% 11 36.24% 3 -20.27% 16
Laurium Equity Long Short 5.59% 13 -3.14% 34 11.58% 7 14.61% 10 25.43% 10 13.84% 25 7.62% 8 17.14% 22 20.08% 24
Maestro Prescient Equity 2.77% 30 -0.63% 30 4.13% 16 10.49% 24 23.77% 17 25.51% 15 -4.38% 26 18.40% 21
MAZI Capital Equity SWIX 5.90% 12 -2.54% 32 12.50% 6 14.49% 12 26.12% 9 36.69% 2 12.44% 2 28.81% 1 31.51% 12 -16.44% 11
Mvunonala Pure Active Equity SWIX 8.55% 4 -5.32% 36 8.77% 11 16.38% 4 21.63% 20
Oasis Specialist Domestic Equity 2.92% 29 15.02% 11 -9.49% 28 10.52% 23 16.55% 28 26.15% 13 7.18% 9 20.92% 16 24.89% 22 -18.60% 15
Perpetua Domestic Specialist Equity 3.68% 26 21.32% 6 -13.15% 33 9.43% 26 17.68% 26
Prudential Deep Value Equity 7.06% 8 5.09% 19 6.23% 14 14.53% 11 26.77% 8 27.41% 10 4.74% 14 20.42% 18 29.95% 16 -16.97% 13
PSG SA Equity 0.95% 35 32.36% 3 -12.43% 32 15.86% 7
RE:CM Equity 3.44% 27 41.60% 2 -30.49% 37 -4.09% 34 12.14% 31 7.68% 28 3.20% 20 21.20% 15 28.36% 18 -10.34% 3
SIM Unconstrained Equity 3.01% 28 17.09% 9 -11.71% 31 10.70% 22 18.02% 25 21.45% 18 1.55% 23 23.05% 10 32.02% 11 -17.48% 14
Stanlib Unconstrained Equity 1.47% 33 2.73% 25 -9.96% 29 5.23% 29 16.26% 29 30.43% 7 3.81% 17 14.66% 24 32.60% 7 -38.40% 23
Stanlib Value Equity 4.43% 24 4.21% 21 2.78% 20 -2.13% 33 19.22% 23 21.15% 19 3.45% 19 22.08% 12 32.17% 8 -29.53% 22
Steyn Capital Long Only Equity 5.24% 19 5.75% 18 14.75% 3
Tower Capital Equity 0.91% 36 2.45% 27 10.73% 9
Visio SWIX 5.53% 14 -0.27% 29 6.85% 12 14.07% 15 25.34% 11 36.92% 1 12.74% 1 27.88% 3 30.31% 15 -16.34% 10
JSE SWIX 7.49% 4.13% 3.61% 15.41% 20.73% 29.10% 4.24% 20.86% 29.91% -21.67%
Top Quartile 6.65% 15.98% 9.52% 14.73% 26.12% 29.84% 7.78% 25.00% 33.23% -14.06%
Mean 4.86% 9.54% 0.25% 11.28% 21.60% 23.63% 5.25% 21.94% 30.65% -18.18%
Median 5.24% 5.09% 2.90% 13.87% 23.77% 25.51% 4.90% 22.04% 31.45% -16.50%
Bottom Quartile 3.01% 2.15% -9.49% 9.60% 18.02% 20.02% 3.26% 20.17% 27.94% -21.08%
JSE ALSI 7.56% 2.63% 5.13% 10.88% 21.44% 26.68% 2.57% 18.99% 32.13% -23.25%
GraySwan Unconstrained Equity Peergroup 4.96% 10.55% -3.39% 9.54% 20.85% 22.39% 4.29% 21.47% 32.67% -20.34%
43
5 YEAR ANNUALISED VOLATILITY & RETURN
ABAX Equity Fund
ABSA AM Select Equity
Afena Capital Aggressive Equity
Allan Gray Domestic Equity (Pool)
Ashburton EquityAylett Institutional Equity
Cannon ALSI Institutional
ClucasGray Equity
Coronation Aggressive Equity
Coronation Houseview Equity
Electus Equity
Element Equity
Fairtree Capital Equity
First Avenue Equity
First Avenue Focused Equity
Foord Specialist Domestic EquityFoord Specialist Equity SWIX
Investec General Equity
Investec Value Equity
Kagiso Managed Equity Fund
Laurium Equity Long Short
Maestro Prescient Equity
MAZI Capital Equity SWIX
Oasis Specialist Domestic Equity
Prudential Deep Value Equity
RE:CM Equity
SIM Unconstrained Equity
Stanlib Unconstrained Equity
Stanlib Value Equity
Visio SWIX
JSE SWIX
JSE ALSI
GraySwan Unconstrained Equity Peergroup (Gross)
2,00%
4,00%
6,00%
8,00%
10,00%
12,00%
14,00%
16,00%
18,00%
4,00% 6,00% 8,00% 10,00% 12,00% 14,00% 16,00% 18,00% 20,00% 22,00%
AN
NU
ALI
SED
RET
UR
N
ANNUALISED VOLATILITY
ER = 2 ER = 1
ER = 0.5
44
9 YEAR ANNUALISED VOLATILITY & RETURN
ABAX Equity Fund
ABSA AM Select Equity
Allan Gray Domestic Equity (Pool)
Ashburton Equity
Aylett Institutional Equity
Cannon ALSI Institutional
Coronation Aggressive EquityCoronation Houseview Equity
Electus Equity
Element Equity
Foord Specialist Domestic EquityFoord Specialist Equity SWIX
Investec General Equity
Investec Value EquityKagiso Managed Equity Fund
MAZI Capital Equity SWIX
Oasis Specialist Domestic Equity
Prudential Deep Value Equity
RE:CM Equity
SIM Unconstrained Equity
Stanlib Unconstrained Equity
Stanlib Value Equity
Visio SWIX
JSE SWIX
JSE ALSI
GraySwan Unconstrained Equity Peergroup (Gross)
4,00%
6,00%
8,00%
10,00%
12,00%
14,00%
16,00%
9,00% 11,00% 13,00% 15,00% 17,00% 19,00% 21,00%
AN
NU
ALI
SED
RET
UR
N
ANNUALISED VOLATILITY
ER = 1
ER = 0.5
46
5 YEAR PERFORMANCE
0.00% 2.00% 4.00% 6.00% 8.00% 10.00% 12.00% 14.00% 16.00%
CPI
CPI + 3%
MMI Absolute Return (CPI + 5%)
ABSA AM Global Absolute CPI + 4%
CPI + 4%
Vunani Global Absolute CPI + 3%
Coronation Inflation Plus
OMIG MacroSolutions (Profile Capital)
GraySwan Global CPI + 3% to 4% Peergroup (Gross)
CPI + 5%
Allan Gray Global Stable
SIM Global CPI + 5%
OMIG Wealth Defender Capability
Allan Gray Global Absolute
Vunani Global Absolute CPI + 5%
OMIG MacroSolutions (Profile Moderate)
GraySwan Global CPI + 5% to 7% Peergroup (Gross)
Coronation Absolute
Vunani Global Absolute CPI + 7%
CPI + 6%
SIM Global CPI + 6%
OMIG MacroSolutions (Profile Balanced)
Investec Opportunity
Prudential Global Real Return + 5%
Foord Reg 28 Absolute Return
CPI + 7%
OMIG MacroSolutions (Profile Edge28)
FIVE YEAR ABSOLUTE PERFORMANCE
47
ABSOLUTE PERFORMANCE
Portfolio3
Months Ran
k
YTD
Ran
k 1Year R
ank 2
Year Ran
k 3Year R
ank 5
Year Ran
k 8Year R
ank
CPI + 3%
Allan Gray Global Stable 2.69% 3 3.47% 3 6.85% 3 10.61% 1 9.52% 1 11.16% 1 10.68% 2
Coronation Inflation Plus 3.27% 1 4.55% 2 8.48% 2 7.39% 2 9.02% 2 10.53% 3
OMIG MacroSolutions (Profile Capital) 3.12% 2 4.64% 1 8.74% 1 6.65% 3 8.65% 3 10.54% 2 10.99% 1
Vunani Global Absolute CPI + 3% 0.99% 4 2.66% 4 4.33% 4 5.99% 4 8.09% 4 10.18% 4 10.12% 3
CPI + 4%
ABSA AM Global Absolute CPI + 4% 1.35% 2 2.03% 2 3.51% 2 4.66% 2 7.79% 2 9.45% 2 11.03% 2
OMIG MacroSolutions (Profile Moderate) 3.23% 1 5.17% 1 8.05% 1 5.62% 1 8.81% 1 11.72% 1 12.60% 1
CPI + 5%
Allan Gray Global Absolute 2.60% 8 3.94% 7 5.02% 6 10.33% 1 9.63% 2 11.45% 5 12.30% 4
Foord Reg 28 Absolute Return 3.64% 2 4.68% 2 2.20% 9 3.55% 8 7.30% 8 12.95% 1 15.29% 1
Mergence CPI + 5 % (Global) 2.63% 7 4.32% 4 6.59% 4 5.22% 6 7.51% 7
MMI Absolute Return (CPI + 5%) 2.42% 9 4.10% 5 4.22% 8 3.47% 9 6.50% 9 9.45% 8 11.39% 8
OMIG MacroSolutions (Profile Balanced) 3.65% 1 5.83% 1 7.77% 1 4.78% 7 8.50% 4 12.46% 3 14.20% 2
OMIG Wealth Defender Capability 3.19% 3 4.35% 3 6.78% 3 6.12% 4 7.93% 5 11.41% 6 12.13% 5
Prudential Global Real Return + 5% 2.68% 6 4.07% 6 5.60% 5 6.26% 3 9.66% 1 12.84% 2 13.79% 3
SIM Global CPI + 5% 2.95% 4 3.81% 9 7.28% 2 7.78% 2 9.03% 3 11.29% 7 11.72% 7
Vunani Global Absolute CPI + 5% 2.70% 5 3.83% 8 4.91% 7 5.47% 5 7.84% 6 11.52% 4 12.03% 6
CPI + 6%
Investec Opportunity 3.31% 2 5.65% 1 3.41% 3 8.62% 1 9.37% 3 12.71% 2 15.12% 2
OMIG MacroSolutions (Profile Edge28) 2.58% 3 5.13% 2 6.72% 2 4.86% 3 9.66% 2 13.72% 1 15.21% 1
SIM Global CPI + 6% 3.52% 1 4.50% 3 8.31% 1 8.40% 2 9.98% 1 12.46% 3 13.08% 3
CPI + 7%
Coronation Absolute 3.25% 1 4.80% 1 8.22% 1 5.56% 1 8.11% 1 11.88% 2 14.00% 1
Vunani Global Absolute CPI + 7% 1.15% 2 3.07% 2 2.42% 2 3.61% 2 7.26% 2 12.02% 1 13.71% 2
CPI 2.30% 2.71% 6.13% 6.20% 5.47% 5.67% 5.45%
Top Quartile 3.31% 4.73% 8.48% 9.38% 9.66% 12.46% 13.75%
Mean 2.91% 4.26% 7.06% 7.30% 8.96% 11.44% 12.31%
Median 3.12% 4.35% 6.85% 6.26% 8.81% 11.49% 12.13%
Bottom Quartile 2.63% 3.83% 4.91% 5.22% 7.93% 10.54% 11.01%
GraySwan Global CPI + 3% to 4% Peergroup 2.52% 3.86% 6.55% 6.61% 8.60% 10.62% 11.43%
GraySwan Global CPI + 5% to 7% Peergroup 3.01% 4.69% 5.91% 5.63% 8.22% 11.76% 13.17%
48
ABSOLUTE CALENDAR YEAR PERFORMANCE
Portfolio 2017
Ran
k
2016
Ran
k
2015
Ran
k
2014
Ran
k
2013
Ran
k
2012
Ran
k
2011
Ran
k
2010
Ran
k
2009
Ran
k
2008
Ran
k
CPI + 3%
Allan Gray Global Stable 3.47% 3 7.36% 1 14.46% 1 7.77% 4 16.29% 1 8.13% 4 13.31% 1 5.80% 4 7.46% 3 13.69% 1
Coronation Inflation Plus 4.55% 2 6.27% 2 9.34% 3 9.56% 3 13.61% 3 14.52% 3 10.32% 2 15.95% 1
OMIG MacroSolutions (Profile Capital) 4.64% 1 5.64% 3 8.17% 4 9.73% 1 12.70% 4 16.99% 1 9.75% 3 10.79% 2 8.84% 2 6.85% 2
Vunani Global Absolute CPI + 3% 2.66% 4 2.12% 4 12.49% 2 9.58% 2 13.79% 2 16.01% 2 5.03% 4 9.24% 3 11.53% 1 -0.85% 3
CPI + 4%
ABSA AM Global Absolute CPI + 4% 2.03% 2 3.94% 2 9.53% 1 11.59% 2 9.70% 2 16.70% 2 10.60% 1 12.72% 1 12.04% 2 11.48% 1
OMIG MacroSolutions (Profile Moderate) 5.17% 1 4.44% 1 8.41% 2 12.36% 1 15.59% 1 19.27% 1 9.11% 2 12.33% 2 12.05% 1 -2.50% 2
CPI + 5%
Allan Gray Global Absolute 3.94% 7 7.87% 1 11.63% 2 11.45% 3 16.78% 6 6.29% 8 14.00% 1 8.58% 8 13.58% 6 14.81% 1
Foord Reg 28 Absolute Return 4.68% 2 -0.82% 9 11.20% 4 11.17% 4 24.81% 1 26.06% 1 9.90% 4 15.44% 1 18.17% 1 -7.57% 6
Mergence CPI + 5 % (Global) 4.32% 4 5.81% 2 6.64% 9 11.07% 5 12.17% 9
MMI Absolute Return (CPI + 5%) 4.10% 5 0.97% 7 8.03% 8 9.66% 8 13.35% 8 17.80% 5 8.68% 5 13.44% 3 15.11% 4 -11.34% 7
OMIG MacroSolutions (Profile Balanced) 5.83% 1 3.42% 6 8.76% 7 12.15% 2 20.84% 2 19.95% 4 7.84% 6 13.70% 2 18.14% 2 -12.79% 8
OMIG Wealth Defender Capability 4.35% 3 4.11% 5 9.45% 6 9.16% 9 18.94% 3 16.92% 6 7.29% 7 11.47% 6 17.19% 3 -0.83% 4
Prudential Global Real Return + 5% 4.07% 6 5.13% 4 10.24% 5 13.35% 1 16.71% 7 21.32% 2 12.28% 2 13.18% 4 12.12% 7 2.61% 3
SIM Global CPI + 5% 3.81% 9 5.75% 3 11.54% 3 9.82% 7 16.95% 5 13.76% 7 10.72% 3 10.04% 7 10.99% 8 2.76% 2
Vunani Global Absolute CPI + 5% 3.83% 8 0.01% 8 13.42% 1 10.01% 6 18.80% 4 20.02% 3 5.04% 8 12.15% 5 13.91% 5 -4.15% 5
CPI + 6%
Investec Opportunity 5.65% 1 2.32% 3 15.52% 1 10.46% 3 16.20% 3 20.72% 1 12.59% 1 12.94% 2 21.84% 1 -3.94% 2
OMIG MacroSolutions (Profile Edge28) 5.13% 2 3.07% 2 11.07% 3 14.72% 1 23.71% 1 20.27% 2 6.65% 3 14.17% 1 20.69% 2 -11.76% 3
SIM Global CPI + 6% 4.50% 3 6.28% 1 12.32% 2 10.78% 2 19.30% 2 15.19% 3 10.22% 2 11.67% 3 13.53% 3 0.75% 1
CPI + 7%
Coronation Absolute 4.80% 1 6.52% 1 6.20% 2 9.91% 2 21.20% 2 17.74% 2 7.73% 1 17.45% 1 20.15% 1 -0.94% 1
Vunani Global Absolute CPI + 7% 3.07% 2 -2.64% 2 14.53% 1 10.73% 1 21.72% 1 24.06% 1 5.03% 2 14.13% 2 19.35% 2 -10.34% 2
CPI 2.71% 6.61% 4.75% 5.79% 5.31% 5.61% 6.18% 3.47% 5.93% 11.23%
Top Quartile 4.73% 7.36% 12.09% 11.59% 18.94% 19.97% 11.69% 13.51% 17.67% 14.12%
Mean 4.26% 5.49% 10.52% 10.82% 15.84% 16.09% 9.73% 11.60% 14.04% 3.04%
Median 4.35% 5.64% 10.24% 10.73% 16.20% 16.81% 10.06% 11.91% 13.35% 0.75%
Bottom Quartile 3.83% 3.07% 8.76% 9.73% 12.70% 12.74% 7.82% 9.59% 11.37% -4.05%
GraySwan Global CPI + 3% to 4% Peergroup 3.86% 5.09% 9.89% 10.22% 13.75% 15.56% 9.25% 11.94% 11.46% 5.66%
GraySwan Global CPI + 5% to 7% Peergroup 4.69% 3.26% 10.08% 10.73% 18.00% 19.34% 8.83% 12.97% 15.86% -2.83%
49
5 YEAR ANNUALISED VOLATILITY & RETURN
CPI + 3%
Allan Gray Global Stable
Coronation Inflation PlusOMIG MacroSolutions (Profile Capital)
Vunani Global Absolute CPI + 3%
CPI + 4%
ABSA AM Global Absolute CPI + 4%
OMIG MacroSolutions (Profile Moderate)
CPI + 5%
Allan Gray Global Absolute
Foord Reg 28 Absolute Return
MMI Absolute Return (CPI + 5%)
OMIG MacroSolutions (Profile Balanced)
OMIG Wealth Defender Capability
Prudential Global Real Return + 5%
SIM Global CPI + 5%
Vunani Global Absolute CPI + 5%
CPI + 6%
Investec Opportunity
OMIG MacroSolutions (Profile Edge28)
SIM Global CPI + 6%
CPI + 7%
Coronation AbsoluteVunani Global Absolute CPI + 7%
CPI
GraySwan Global CPI + 3% to 4% Peergroup (Gross)
GraySwan Global CPI + 5% to 7% Peergroup (Gross)
5.50%
6.50%
7.50%
8.50%
9.50%
10.50%
11.50%
12.50%
13.50%
1.00% 2.00% 3.00% 4.00% 5.00% 6.00% 7.00%
AN
NU
ALI
SED
RET
UR
N
ANNUALISED VOLATILITY
ER = 2 ER = 1 ER = 0.5
ER = -1 ER = -0.5ER = -2
50
9 YEAR ANNUALISED VOLATILITY & RETURN
CPI + 3%
Allan Gray Global StableOMIG MacroSolutions (Profile Capital)
Vunani Global Absolute CPI + 3%
CPI + 4%
ABSA AM Global Absolute CPI + 4%
OMIG MacroSolutions (Profile Moderate)
CPI + 5%
Allan Gray Global Absolute
Foord Reg 28 Absolute Return
MMI Absolute Return (CPI + 5%)
OMIG MacroSolutions (Profile Balanced)
OMIG Wealth Defender Capability
Prudential Global Real Return + 5%
SIM Global CPI + 5%
Vunani Global Absolute CPI + 5%
CPI + 6%Investec Opportunity
OMIG MacroSolutions (Profile Edge28)SIM Global CPI + 6%
CPI + 7%
Coronation Absolute
Vunani Global Absolute CPI + 7%
CPI
GraySwan Global CPI + 3% to 4% Peergroup (Gross)
GraySwan Global CPI + 5% to 7% Peergroup (Gross)
5.50%
6.50%
7.50%
8.50%
9.50%
10.50%
11.50%
12.50%
13.50%
1.00% 2.00% 3.00% 4.00% 5.00% 6.00% 7.00% 8.00% 9.00%
AN
NU
ALI
SED
RET
UR
N
ANNUALISED VOLATILITY
ER = 2 ER = 1 ER = 0.5
ER = -1 ER = -0.5ER = -2
52
5 YEAR PERFORMANCE
0.00% 2.00% 4.00% 6.00% 8.00% 10.00% 12.00% 14.00% 16.00%
RE:CM Balanced Full Discretion
Prescient Global Balanced
Cadiz Global Balanced
CPI + 5%
ABSA AM Global Balanced
Stanlib Full Discretion
GraySwan Global CPI + 5% to 7% Peergroup (Gross)
Aluwani Global Balanced
Oasis Global Full Discretion
MMI Global Balanced
OMIG MacroSolutions Seg Full Discretion
OMIG MacroSolutions (Profile Balanced)
SIM Global Unique
Mean
Foord Global Balanced - Moderate
GraySwan Global Balanced Peergroup (Gross)
OMIG MacroSolutions (Profile Edge28)
Median
Prudential Global Balanced
Allan Gray Global Balanced (Seg)
Investec Managed
Allan Gray Global Balanced (Pool)
Investec Segregated Full Discretion
Rezco Managed Plus
Rezco Value Trend (Balanced)
Investec Balanced
Coronation Full Discretion
ABAX Balanced Fund
Coronation Managed
PSG Balanced
FIVE YEAR ABSOLUTE PERFORMANCE
53
ABSOLUTE PERFORMANCE
Portfolio3
Months Ran
k
YTD
Ran
k 1Year R
ank 2Year R
ank 3
Year Ran
k 5Year R
ank 8
Year Ran
k
ABAX Balanced Fund 4.79% 2 5.67% 10 9.87% 4 8.33% 4 11.27% 2 14.58% 3
ABSA AM Global Balanced 1.76% 23 3.02% 24 5.26% 17 4.42% 18 6.91% 20 11.00% 22
Allan Gray Global Balanced (Pool) 3.18% 17 4.97% 13 5.58% 14 8.87% 3 9.61% 8 14.22% 9 15.10% 11
Allan Gray Global Balanced (Seg) 3.10% 18 4.91% 15 5.84% 13 9.10% 2 9.73% 6 14.21% 11 14.98% 12
Aluwani Global Balanced 4.49% 4 5.92% 6 6.21% 12 4.31% 19 7.66% 18 11.80% 20 13.98% 17
Cadiz Global Balanced 3.82% 6 6.84% 3 11.55% 2 5.44% 12 5.54% 24 10.33% 23 12.91% 20
Coronation Full Discretion 4.95% 1 7.18% 2 7.26% 10 5.60% 10 9.22% 9 14.58% 4 16.63% 3
Coronation Managed 4.60% 3 7.35% 1 9.65% 5 6.58% 6 9.14% 10 15.06% 2 17.41% 1
Foord Global Balanced - Moderate 3.47% 12 4.95% 14 3.35% 20 4.64% 16 7.65% 19 12.91% 14 15.71% 8
Investec Balanced 3.51% 10 5.86% 7 4.95% 19 5.46% 11 10.33% 5 14.57% 5 15.88% 6
Investec Managed 3.22% 16 4.26% 19 5.39% 16 9.76% 1 11.51% 1 14.22% 10 15.28% 9
Investec Segregated Full Discretion 3.56% 9 5.98% 4 5.51% 15 5.68% 8 10.40% 4 14.27% 8 15.75% 7
MMI Global Balanced 3.45% 13 4.80% 17 5.22% 18 5.32% 13 8.47% 13 12.42% 18 13.84% 18
Oasis Global Full Discretion 1.45% 24 2.54% 25 2.65% 22 3.31% 22 6.29% 22 12.32% 19 13.76% 19
OMIG MacroSolutions (Profile Balanced) 3.65% 8 5.83% 9 7.77% 8 4.78% 15 8.50% 12 12.46% 16 14.20% 16
OMIG MacroSolutions (Profile Edge28) 2.58% 21 5.13% 12 6.72% 11 4.86% 14 9.66% 7 13.72% 13 15.21% 10
OMIG MacroSolutions Seg Full Discretion 3.66% 7 5.86% 8 8.06% 7 4.61% 17 8.46% 14 12.45% 17 14.24% 15
Prescient Global Balanced 2.58% 20 4.84% 16 3.34% 21 0.15% 25 6.01% 23 8.37% 24 9.19% 22
Prudential Global Balanced 3.49% 11 5.34% 11 8.09% 6 6.25% 7 9.02% 11 14.14% 12 16.04% 5
PSG Balanced 3.01% 19 3.99% 20 11.48% 3 7.99% 5 10.99% 3 15.09% 1 16.98% 2
RE:CM Balanced Full Discretion 0.89% 25 4.60% 18 11.84% 1 1.96% 24 -1.24% 25 6.01% 25 9.59% 21
Rezco Managed Plus 3.36% 14 3.27% 22 1.81% 25 3.84% 21 8.20% 15 14.31% 7
Rezco Value Trend (Balanced) 3.25% 15 3.19% 23 2.58% 23 4.28% 20 7.87% 17 14.44% 6 16.13% 4
SIM Global Unique 4.05% 5 5.94% 5 7.53% 9 5.65% 9 7.91% 16 12.66% 15 14.76% 13
Stanlib Full Discretion 2.56% 22 3.40% 21 1.91% 24 3.22% 23 6.48% 21 11.50% 21 14.57% 14
GraySwan Global Balanced Peergroup 3.30% 5.03% 6.58% 5.65% 8.28% 13.09% 14.99%
Top Quartile 3.66% 5.86% 8.06% 6.25% 9.66% 14.31% 15.85%
Mean 3.30% 5.03% 6.38% 5.37% 8.22% 12.87% 14.64%
Median 3.45% 4.97% 5.84% 5.32% 8.47% 13.72% 15.04%
Bottom Quartile 3.01% 4.26% 4.95% 4.31% 7.65% 12.32% 14.03%
CPI + 5% 3.56% 4.40% 11.44% 11.52% 10.76% 10.96% 10.73%
GraySwan Global CPI + 5% to 7% Peergroup 3.01% 4.69% 5.91% 5.63% 8.22% 11.76% 13.17%
54
ABSOLUTE CALENDAR YEAR PERFORMANCE
Portfolio 2017
Ran
k
2016
Ran
k
2015
Ran
k
2014
Ran
k
2013
Ran
k
2012
Ran
k
2011
Ran
k
2010
Ran
k
2009
Ran
k
2008
Ran
k
ABAX Balanced Fund 5.67% 10 11.64% 3 6.28% 20 16.91% 1 17.14% 23 23.56% 6
ABSA AM Global Balanced 3.02% 24 3.70% 12 8.41% 16 11.57% 12 16.70% 24 20.01% 16 8.38% 12
Allan Gray Global Balanced (Pool) 4.97% 13 7.01% 6 12.83% 6 10.27% 20 25.33% 6 15.43% 22 13.06% 2 11.84% 19 15.95% 18 -1.38% 5
Allan Gray Global Balanced (Seg) 4.91% 15 7.51% 5 12.77% 7 10.29% 19 25.05% 7 15.14% 23 12.63% 3 11.68% 20 15.62% 19 -1.06% 4
Aluwani Global Balanced 5.92% 6 0.42% 21 10.37% 11 9.95% 21 20.67% 21 19.65% 20 5.93% 22 14.37% 10 24.91% 5 -12.39% 15
Cadiz Global Balanced 6.84% 3 5.86% 9 4.90% 24 3.18% 24 18.69% 22 21.55% 10 4.35% 23 15.91% 7 20.33% 10
Coronation Full Discretion 7.18% 2 3.44% 13 8.88% 12 12.10% 10 28.88% 4 21.72% 8 8.21% 13 17.76% 3 25.13% 4 -8.29% 8
Coronation Managed 7.35% 1 7.96% 4 5.09% 23 11.22% 14 30.10% 3 24.00% 5 9.05% 8 19.41% 1 25.89% 3 -7.56% 7
Foord Global Balanced - Moderate 4.95% 14 0.53% 20 10.51% 10 11.00% 16 24.02% 10 25.58% 2 11.43% 4 17.16% 5 17.92% 16 -5.61% 6
Investec Balanced 5.86% 7 1.21% 19 15.80% 4 13.35% 3 24.07% 9 20.60% 13 7.73% 15 14.09% 12 26.23% 1 -10.96% 10
Investec Managed 4.26% 19 4.79% 10 19.30% 2 9.16% 23 23.45% 13 21.66% 9 8.79% 9 12.81% 17 21.33% 7 -14.85% 19
Investec Segregated Full Discretion 5.98% 4 1.68% 18 15.41% 5 13.27% 5 22.33% 15 20.66% 12 7.59% 17 14.53% 9 26.17% 2 -11.49% 12
MMI Global Balanced 4.80% 17 2.33% 17 11.51% 8 10.51% 18 21.21% 18 19.65% 19 7.57% 18 10.98% 21 19.83% 13 -12.40% 16
Oasis Global Full Discretion 2.54% 25 4.43% 11 5.74% 22 12.91% 6 22.80% 14 21.49% 11 8.56% 10 11.95% 18 15.60% 20 -14.39% 18
OMIG MacroSolutions (Profile Balanced) 5.83% 9 3.42% 14 8.76% 14 12.15% 7 20.84% 20 19.95% 18 7.84% 14 13.70% 15 18.14% 15 -12.79% 17
OMIG MacroSolutions (Profile Edge28) 5.13% 12 3.07% 16 11.07% 9 14.72% 2 23.71% 11 20.27% 14 6.65% 20 14.17% 11 20.69% 9 -11.76% 13
OMIG MacroSolutions Seg Full Discretion 5.86% 8 3.40% 15 8.52% 15 12.14% 8 20.89% 19 19.99% 17 7.57% 19 14.03% 13 19.03% 14 -12.02% 14
Prescient Global Balanced 4.84% 16 -1.35% 23 6.07% 21 10.88% 17 12.63% 25 12.88% 24 6.51% 21 10.31% 22 8.76% 22 0.74% 2
Prudential Global Balanced 5.34% 11 6.60% 7 8.83% 13 11.67% 11 24.83% 8 22.68% 7 8.39% 11 15.99% 6 19.99% 12 -8.70% 9
PSG Balanced 3.99% 20 14.54% 2 6.80% 18 13.35% 4 28.31% 5 15.61% 21 10.14% 5 17.25% 4 21.38% 6 -11.11% 11
RE:CM Balanced Full Discretion 4.60% 18 24.34% 1 -19.25% 25 -2.38% 25 23.53% 12 8.25% 25 10.03% 6 13.30% 16 20.00% 11 -1.00% 3
Rezco Managed Plus 3.27% 22 -5.85% 25 20.23% 1 12.13% 9 31.28% 1 24.88% 3
Rezco Value Trend (Balanced) 3.19% 23 -4.39% 24 18.12% 3 11.00% 15 30.10% 2 32.65% 1 15.48% 1 14.01% 14 11.64% 21 6.86% 1
SIM Global Unique 5.94% 5 6.15% 8 6.44% 19 11.33% 13 21.61% 17 20.20% 15 7.66% 16 15.31% 8 20.96% 8 -15.43% 20
Stanlib Full Discretion 3.40% 21 0.42% 22 8.17% 17 9.69% 22 22.30% 16 24.62% 4 9.34% 7 18.03% 2 17.78% 17 -21.19% 21
GraySwan Global Balanced Peergroup 5.03% 4.81% 8.85% 10.88% 23.67% 21.11% 9.42% 14.61% 19.70% -8.92%
Top Quartile 5.86% 6.60% 12.77% 12.15% 25.05% 22.68% 9.68% 15.97% 21.37% -5.61%
Mean 5.03% 4.51% 9.26% 10.89% 23.22% 20.51% 8.82% 14.48% 19.69% -8.89%
Median 4.97% 3.44% 8.83% 11.33% 23.45% 20.60% 8.38% 14.13% 19.99% -11.11%
Bottom Quartile 4.26% 1.21% 6.44% 10.29% 20.89% 19.65% 7.58% 12.93% 17.81% -12.40%
CPI + 5% 4.40% 11.94% 10.02% 11.09% 10.58% 10.88% 11.50% 8.66% 11.22% 16.79%
GraySwan Global CPI + 5% to 7% Peergroup 4.69% 3.26% 10.08% 10.73% 18.00% 19.34% 8.83% 12.97% 15.86% -2.83%
55
5 YEAR ANNUALISED VOLATILITY & RETURN
ABAX Balanced Fund
ABSA AM Global Balanced
Allan Gray Global Balanced (Pool)
Allan Gray Global Balanced (Seg)
Aluwani Global Balanced
Cadiz Global Balanced
Coronation Full Discretion
Coronation Managed
Foord Global Balanced - Moderate
Investec Balanced
Investec Managed Investec Segregated Full Discretion
MMI Global BalancedOasis Global Full Discretion
OMIG MacroSolutions (Profile Balanced)
OMIG MacroSolutions (Profile Edge28)
OMIG MacroSolutions Seg Full Discretion
Prescient Global Balanced
Prudential Global Balanced
PSG Balanced
RE:CM Balanced Full Discretion
Rezco Managed Plus
Rezco Value Trend (Balanced)
SIM Global Unique
Stanlib Full Discretion
GraySwan Global Balanced Peergroup (Gross)
CPI + 5%
GraySwan Global CPI + 5% to 7% Peergroup (Gross)
6.00%
8.00%
10.00%
12.00%
14.00%
16.00%
1.00% 2.00% 3.00% 4.00% 5.00% 6.00% 7.00% 8.00% 9.00% 10.00% 11.00%
AN
NU
ALI
SED
RET
UR
N
ANNUALISED VOLATILITY
ER = 2
ER = 1
56
9 YEAR ANNUALISED VOLATILITY & RETURN
Allan Gray Global Balanced (Pool)Allan Gray Global Balanced (Seg)
Aluwani Global Balanced
Coronation Full Discretion
Coronation Managed
Foord Global Balanced - Moderate
Investec Balanced
Investec Managed
Investec Segregated Full Discretion
MMI Global Balanced
Oasis Global Full Discretion
OMIG MacroSolutions (Profile Balanced)
OMIG MacroSolutions (Profile Edge28)
OMIG MacroSolutions Seg Full Discretion
Prescient Global Balanced
Prudential Global Balanced
PSG Balanced
RE:CM Balanced Full Discretion
Rezco Value Trend (Balanced)
SIM Global Unique
Stanlib Full Discretion
GraySwan Global Balanced Peergroup (Gross)
GraySwan Global CPI + 5% to 7% Peergroup (Gross)
7.50%
8.50%
9.50%
10.50%
11.50%
12.50%
13.50%
14.50%
6.00% 6.50% 7.00% 7.50% 8.00% 8.50% 9.00% 9.50% 10.00%
AN
NU
ALI
SED
RET
UR
N
ANNUALISED VOLATILITY
ER = 2
ER = 1
57INVESTMENT CONSULTING I WEALTH MANAGEMENT I REPORTING
• All performance calculations in excess of 12 months are annualised. • All relative performance statistics are to the indicated benchmark. • Performance numbers are gross of fees. • Performance is noted in ZAR. • The # indicates the ranking of the fund over the specified period of
analysis. • Usually funds with AUM in excess of R100 million and a track
record longer than 12 months may be included in the GraySwan ScoreCards.
“The essence of investment management
is the management of risks, not the management of returns.”
- Benjamin Graham
TAKE NOTE
58INVESTMENT CONSULTING I WEALTH MANAGEMENT I REPORTING
As with our motto ALWAYS COUNT
we test and verify everything, only thereafter do we trust.
The GraySwan ScoreCards as well as our other range of quantitativereports form part of our initial quantitative screening of the universe ofinstitutional investment managers / products / mandates. As part of ourongoing investment manager monitoring and research we maintain aproprietary local and offshore performance database of more than 1000institutional mandates/products which we monitor across more than 30different peer group surveys. In addition, we also monitor the universe ofmore than 1000 retail unit trust mandates/products not only for ourprivate clients but also for potential investment by our institutionalclients.
We produce summary GraySwan ScoreCards for public consumption butalso produce detailed (30 pager) ScoreCards exclusively for our clients.These detailed reports measure all major risk and performance statisticsover multiple time frames and compare such to individual benchmarks,industry benchmarks and relative to each other. By dissecting allquantitative aspects, we provide our clients with the most comprehensiveand transparent investment manager surveys in the South Africaninvestment industry. We aim to truly compare “apples with apples” andprovide objective and fair results to our clients. We always count, then wetest, we verify and only then do we trust.
We use an evidence-based analytical approach empower us to identifyinvestable opportunities for our clients after which we proceed withrigorous qualitative research and on site due diligence.
59INVESTMENT CONSULTING I WEALTH MANAGEMENT I REPORTING
Fund Composite Reports
Fact Sheet Reports
Asset Allocation Reports
Asset Class Composite Reports
Investment Manager Reports
Investment Manager Hit Rate Reports
Fund & Manager Attribution Reports
Transaction Cost Analysis Reports
Securities Lending Income Reports
Costs & Fees Reports
Pre & Post Trade Transition Reports
Market Summary Reports
Regulation 28 Compliance Reports
Regulation 30 Compliance Reports
We produce a unique and comprehensive range of reports
that provides in-depth and transparent analyses of
investments opportunities and decisions.
Contact us for objective and value-add insights.
GRAYSWAN REPORTS
60INVESTMENT CONSULTING I WEALTH MANAGEMENT I REPORTING
DISCLAIMERThe GraySwan ScoreCards provide backward looking insight of the universe of institutional investment products and mandates. Users shouldseek appropriate professional advice from their investment advisors before taking any action in reliance on any information provided. All datais factual and is provided for informational purposes. The data is obtained from the investment managers and should be reliable. Noguarantee, representation or warranty is given by GraySwan, and no responsibility or liability, contingent or otherwise, as to its quality,accuracy, timeliness, availability and completeness of the data and information provided. Past performance is no guarantee for futureperformance. This information is not advice as defined and contemplated in the Financial Advisory and Intermediary Services Act, 37 of 2002,as amended. GraySwan shall not be liable for any actions taken by any person based on the correctness of this information.
The core of our investment team has been working together for more than 10 years. Our collective investmentexperience exceeds 110 years of advising to and managing most of the largest institutional client’s assets in SouthAfrica. Since the inception of GraySwan have we not lost any investment consultants making us one of the most stableand experienced investment teams in the industry.
(JHB) 011 431 0141 I (CPT) 021 852 9092 I www.grayswan.co.za
CONTACT US
DAVID MAETLAHead of Peer Group Surveys
GREGOIRE THERONHead of Manager Research