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Unit trusts in double troubl... An 'afterthought' with a kick... JSE computer settlements may reduce ta... Where there's a will, there's a way to a... Financial regulation laggin... Investment vehicle for the well-heele... UNIT TRUSTS:Sanlam Income Fun... Does windfall make investor a provisiona... Cover for those silly mistakes that cos... The ins and outs of personal liability c... R11 000 demutualisation bonus for policy... If banks let you down, vote with your fe... SA taxman casts his net towards foreign ... Building a nest egg for your old ag... Avoid past performance trap... The truth behind all those figure... |
SANLAM PRIME GROWTH TRUSTThis fund has 182 149 unitholders and assets under management of R1.2-billion. Launched in May 1978, it is managed by Schalk Theron for Sanlam Asset Management
OBJECTIVE: To remain in the top quartile of its sector and consistently beat the JSE all-share index.
TARGET MARKET: Suitable for investors with a general knowledge of shares and the financial markets. Investors in this fund will be prepared to accept a higher risk profile than those who normally invest in a general equity fund.
CHARGES (incl VAT): Compulsory: 0.7%. Initial: 5.46% (on a sliding scale). Annual service fee: 1.14%.
MINIMUM INVESTMENT: Lump sum: R500; monthly R100.
PAST PERFORMANCE (per Micropal): FIVE YEARS Fund: 122.4% Inflation: 48.8% JSE all-share index: 92.9% Sector average: 125.4% Volatility: 4.04 THREE YEARS Fund: 46.7% Inflation: 23.5% JSE all-share index: 31% Sector average: 51.3% Volatility: 4.04 Performance is calculated on a buy-to-sell basis with income reinvested.
PAST TWO INCOME DISTRIBUTIONS: March 1997: 10.6c (52% interest; 48% dividends). September 1997: 11.3c (32% interest; 68% dividends).
TOP 10 HOLDINGS: Dimension Data; Educor; Imperial; Richemont; Orion; SA Breweries; Forbes; Persetel Q Data; Absa; Prime-N.
TOLL-FREE: 0800 220 567
ABOUT THE FUND MANAGER
AGE: 41
QUALIFICATIONS: BCom
EXPERIENCE: Has 19 years' experience in asset management at Sanlam. He joined the investment division in 1979 as a researcher and became portfolio manager in January 1987. In June 1994 he became senior portfolio manager of equity unit trusts. Has managed the fund since July 1994.
INVESTMENT ATTITUDE: The trust maintains a balance between blue chip value shares and growth (green chip) shares. It is aggressively managed and more heavily slanted towards investors intent on growth who are prepared to accept risk.
VIEW ON PAST PERFORMANCE: The fund has consistently performed well over the medium and long term, but has sunk in the rankings over the past 12 months. We attribute this to the unexpected interest-rate hike at the end of 1996 and a higher-than-average exposure to the industrial sector, which was negatively affected by the October correction.
THE FUTURE: I am optimistic about the market. Selecting the growth shares, which are more likely to be found in the industrial sector, is a priority. The portfolio and asset mix have been adjusted to reflect new opportunities. Exposure to industrials are higher than average because we believe they will be the top shares in future.
INDEPENDENT ASSESSMENT
The fund started out as the Santam Growth Fund in July 1969 and was taken over by Sanlam in May 1978. It was known as the Sanlam Dividend Trust until May 1993. Along with the Sanlam General Trust fund, it has consistently found itself in the bottom half of the rankings. The fund has tried to concentrate on mid cap shares, but has hung on to some of the "trusty old" blue chips. This has hurt its performance over the past couple of years. Top of page
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