SIM is a philosophically grounded, multi-specialist,multi-product house, with one   investment platform that  leverages of...
SanIam Investments Cluster        Mark       Armien        Daniel      Robert      Robert       Nersan       Murning      ...
4 SIM’s business model has evolved……Sanlam Investments has provided asset management services to third parties since 1969 ...
Pragmatic value investment philosophy
Understanding the value of a business       Aggressive        high risk                                                   ...
4 tenets of Pragmatic Value InvestingSuperior returns are generated through:    A belief in long term reversions to the me...
Multi-Specialist Teams
Fixed Income                        ILB’s                                     Chris Hamman                    André Roux  ...
10SizeSIM can take meaningful stakes in companies       Influence company boards and management        - unlock value     ...
11SizeEmploy a large team of investment professionals       Very detailed and comprehensive proprietary research          ...
sim.multi-asset class funds                                                                  SIM Balanced                 ...
How
Outlook | Assumptions for Long-term returns: SA - Real               Equity returns                                   7.0%...
Outlook | What could you expect given these RETURN assumptions  CPI+5% (Domestic)                                       Lo...
Outlook | Risk takers have been compensated …over the very long run      1900 – 2003, annual real return %     9     8    ...
Outlook | SIM’s current positioning    Asset allocation       Overweight           Underweight      Neutral               ...
0.5                                      0.6                                      0.7                                     ...
10                                                                                    12                           4      ...
Outlook | Offshore Equities – OVERWEIGHT: Price to Book                                             USA        Europe     ...
Outlook | Yields on global assets                                            Global       12           10yr ILB    10yr bo...
Outlook | Global Property – OVERWEIGHT: Local Currencies     500     450                                                  ...
Outlook | Active Asset Allocation                     09 Jan09        06 Feb09     02 Mar09     06 Mar09     15 May09     ...
sim.multi-asset class funds                                                                  SIM Balanced                 ...
sim.multi-asset class fundsPotential Return (%)                                               SIM Inflation Plus          ...
sim.multi-asset class fundsPotential Return (%)                                          SIM Low Equity                   ...
sim.multi-asset class funds                                                      SIM Balanced                             ...
Downside protection | Monthly performance to February 2011                               SIM Balanced Fund - A     SIM Inf...
Downside protection | Monthly performance to February 2011                    SIM Balanced Fund - A   SIM Inflation Plus F...
SIM Balanced | February 2011                                  SIM Balanced Fund - A       Asset Alloc Prud Var Eq     25% ...
SIM Inflation Plus | February 2011                                       SIM Inflation Plus Fund   CPI+4%     14%         ...
SIM Low Equity peers  SIM Low Equity Fund  Stanlib Balanced Cautious Fund  Old Mutual Stable Growth Fund  Coronation Balan...
SIM Low Equity | Performance since inception (July 2010)                                          Performance            R...
SIM Low Equity (since inception)                          Fund 1                Fund 2                    Fund 3          ...
Some other exciting stuff…
sim.sanlam.com
Some of our Creative
Some of our Creative
Sanlam Investments Intro Senate Group
Sanlam Investments Intro Senate Group
Sanlam Investments Intro Senate Group
Sanlam Investments Intro Senate Group
Sanlam Investments Intro Senate Group
Sanlam Investments Intro Senate Group
Sanlam Investments Intro Senate Group
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Sanlam Investments Intro Senate Group

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Sanlam Investments Intro Senate Group

  1. 1. SIM is a philosophically grounded, multi-specialist,multi-product house, with one investment platform that leverages off the Sanlam book and brand.
  2. 2. SanIam Investments Cluster Mark Armien Daniel Robert Robert Nersan Murning Tyer Kriel Roux Roux Naidoo Capital Asset Wealth Employee Interna- Investment Mgt Mgt Mgt Benefits tional Services SCM SIM SPI GR SIIP SMMI SPE GenX Calibre SUS SIM-Global SCI Property Africa SSS SAMI Simeka Dev. -EB India Blue Ink SSS D Coris Octane Distribution Support Support: HR | Legal | Finance | Marketing | IT | Distribution Support
  3. 3. 4 SIM’s business model has evolved……Sanlam Investments has provided asset management services to third parties since 1969 Division Asset Management Integrated Insurance Multi specialist in Life by Investment based Asset Manager Asset Manager (inc. Private Equity company Bank (Gensec) Property etc.) 13yrs 12yrs 9yrs Today ago ago ago (Jan 1997) (Jan 1998) (Apr 2001)
  4. 4. Pragmatic value investment philosophy
  5. 5. Understanding the value of a business Aggressive high risk Significant value attributed to future growth A B C True Benjamin Replacement Continuing Growth Graham students value value Conservative ● Historic info & facts ● Future earnings low risk ● Book value potential Div yield, Low PE
  6. 6. 4 tenets of Pragmatic Value InvestingSuperior returns are generated through: A belief in long term reversions to the mean - market ratings (PE) - growth rates Value securities with respect to realistic expectations Place less emphasis on forecasts and more on fact and track record Hold investments for the long term
  7. 7. Multi-Specialist Teams
  8. 8. Fixed Income ILB’s Chris Hamman André Roux Asset Money Active Bond Credit Liability Market Income Portfolios SolutionsGert Steenkamp Erica Nell Philip Liebenberg Hansie Myburgh Chris HammanKashiefa Waggie Andre du Toit Erich Maritz Henriqueco Visser Charl Smith Stephen Vlok Ntebogeng Mahlare Ntebogeng Mahlare Avishal Khusial
  9. 9. 10SizeSIM can take meaningful stakes in companies Influence company boards and management - unlock value - encourage good corporate governance Fluid access to management teams Management teams generally willing to engage
  10. 10. 11SizeEmploy a large team of investment professionals Very detailed and comprehensive proprietary research - Dedicated asset allocation research team - Dedicated small cap research team Team members can become specialists
  11. 11. sim.multi-asset class funds SIM Balanced Benchmark: Median MorningstarPotential Return (%) AA Prudential Variable Equity SIM Low Equity Benchmark: Peer Group Average SIM Inflation Plus Benchmark: CPI+4% over a rolling 3 year period Risk (vol. %)
  12. 12. How
  13. 13. Outlook | Assumptions for Long-term returns: SA - Real Equity returns 7.0% Equity Risk premium 4.0% Property returns 6.0% Property premium 3.0% Bond returns 3.0% Inflation Risk premium 0.5% ILB returns 2.5% Term premium 0.5% Cash returns 2.0% 0% 1% 2% 3% 4% 5% 6% 7%Source : SIM
  14. 14. Outlook | What could you expect given these RETURN assumptions CPI+5% (Domestic) Long term real Weighted Domestic Allocation return average Equity 30 7.0 2.1 Property 5 6.0 0.3 Bonds 10 3.0 0.3 ILB’s 20 2.5 0.5 Cash 35 2.0 0.7 Alpha 1.0 Total 100% 4.9%Source : SIM
  15. 15. Outlook | Risk takers have been compensated …over the very long run 1900 – 2003, annual real return % 9 8 Equities 7 Bonds 6 5 Bills 4 3 2 1 0 -1 -2 -3 -4 Italy Spain Japan Ireland France Canada Belgium Australia Germany Sweden Denmark Netherlands Switzerland United States United Kingdom South Africa Source: Siegel, FAJ 2005
  16. 16. Outlook | SIM’s current positioning Asset allocation Overweight Underweight Neutral Equity Bonds Global Property Cash Nominal Bonds Domestic Inflation Linked Bonds Cash Equity Property1 March 2011
  17. 17. 0.5 0.6 0.7 0.8 0.9 1.0 1.1 1.2 1.3 1.4 1.5 1.6 1.7 1.8 1.9 2.0 Jan 07 Mar 07 May 07Source: SIM, 4 March 2011 Jul 07 Sep 07 Nov 07 Jan 08 Mar 08 May 08 INDI25 Jul 08 Sep 08 Nov 08 FINI15 Jan 09 Mar 09 RESI May 09 Jul 09 Sep 09 SWIX Nov 09 Jan 10 Mar 10 May 10 Jul 10 Sep 10 Nov 10 Outlook | SA Equities – NEUTRAL: Price to Intrinsic Value Jan 11 Mar 11
  18. 18. 10 12 4 5 6 7 8 9 11Source : I-Net Jan 07 Mar 07 May 07 Jul 07 Sep 07 Nov 07 Jan 08 Mar 08 May 08 Jul 08 Sep 08 Nov 08 Jan 09 Mar 09 Outlook | SA long bonds - NEUTRAL May 09 Jul 09 SA 10YGovernment Bond Prospective real return Sep 09 assuming 5.25% inflation Nov 09 Jan 10 Mar 10 May 10 Jul 10 Sep 10 Nov 10 Jan 11 3%
  19. 19. Outlook | Offshore Equities – OVERWEIGHT: Price to Book USA Europe Japan 6.0 5.5 5.0 4.5 4.0 3.5 3.0 2.5 2.0 1.5 1.0 0.5 0.0 74 76 78 80 82 84 86 88 90 92 94 96 98 00 02 04 06 08 10Source: Citigroup
  20. 20. Outlook | Yields on global assets Global 12 10yr ILB 10yr bond MSCI World DY Property DY 10 8 6 4 2 0 04 05 06 07 08 09 10 11Source: Bloomberg
  21. 21. Outlook | Global Property – OVERWEIGHT: Local Currencies 500 450 Japan 400 SA 350 300 250 US Europe ex UK 200 150 100 Asia Global UK 50 0 00 01 02 03 04 05 06 07 08 09 10 11Source: Bloomberg | 7 March 2011
  22. 22. Outlook | Active Asset Allocation 09 Jan09 06 Feb09 02 Mar09 06 Mar09 15 May09 05 Jun09 02 Jul09 08 Sep09 12 Oct09 15 Dec09 09 Mar10 20 Apr10 07 May10 25 May10 13 Jul10 30 Jul10 17 Aug10 25 Aug10 8/19 Oct10 14 Dec10 5% 4% 3% 2.0% 2% 1.5% 1.0% 1% Active bet 0% 0% 0% -1% -0.5% 0% -2.0% -2% -2.0% -3% -4% -5% Local Local Local Local Local Foreign Foreign Foreign ForeignSource: SIM Equities Bonds ILBs Property Cash Equity Bonds Property Cash
  23. 23. sim.multi-asset class funds SIM Balanced Benchmark: Median MorningstarPotential Return (%) AA Prudential Variable Equity SIM Low Equity Benchmark: Peer Group Average SIM Inflation Plus Benchmark: CPI+4% over a rolling 3 year period Risk (vol. %)
  24. 24. sim.multi-asset class fundsPotential Return (%) SIM Inflation Plus Disciplined focus on downside risk High risk-adjusted returns – low volatility Equity component constructed from houseview SWIX portfolio SIM Inflation Plus Derivatives used to hedge exposure tactically. Benchmark: CPI+4% over a rolling 3 year period Risk (vol. %)
  25. 25. sim.multi-asset class fundsPotential Return (%) SIM Low Equity Actively managed SIM Low Equity Benchmark: Peer Min 60% in high income yielding Group Average instruments Stable, low equity balanced fund Max 40% equities – stock picking Derivatives used to hedge exposure tactically Risk (vol. %)
  26. 26. sim.multi-asset class funds SIM Balanced Benchmark: Median MorningstarPotential Return (%) AA Prudential Variable Equity SIM Balanced Grow capital steadily Long term strategic asset allocation Specific stock picking equity component Risk (vol. %)
  27. 27. Downside protection | Monthly performance to February 2011 SIM Balanced Fund - A SIM Inflation Plus Fund 8% 6% 4% 2% 0% -2% -4% -6% -8% -10% Jan 09 Mar 09 May 09 Jul 09 Sep 09 Nov 09 Jan 10 Mar 10 May 10 Jul 10 Sep 10 Nov 10 Jan 11Source: MoneyMate
  28. 28. Downside protection | Monthly performance to February 2011 SIM Balanced Fund - A SIM Inflation Plus Fund SIM Low Equity Fund - A1 8% 6% 4% 2% 0% -2% -4% -6% -8% -10% Jan 09 Mar 09 May 09 Jul 09 Sep 09 Nov 09 Jan 10 Mar 10 May 10 Jul 10 Sep 10 Nov 10 Jan 11Source: MoneyMate
  29. 29. SIM Balanced | February 2011 SIM Balanced Fund - A Asset Alloc Prud Var Eq 25% 23.8% 20% 17.4% 15.9% 15% 12.1% 11.3% 10% 9.0% 7.1% 6.1% 5% 3.9% 2.7% 0% 3 Months 6 Months 1 Year 2 Years 3 YearsSource: MoneyMate
  30. 30. SIM Inflation Plus | February 2011 SIM Inflation Plus Fund CPI+4% 14% 11.9% 12% 10.4% 10.0% 10% 8.8% 7.9% 8% 7.0% 6.1% 6% 3.9% 4% 2.5% 2.4% 2% 0% 3 Months 6 Months 1 Year 2 Years 3 YearsSource: MoneyMate
  31. 31. SIM Low Equity peers SIM Low Equity Fund Stanlib Balanced Cautious Fund Old Mutual Stable Growth Fund Coronation Balanced Defensive Fund Nedgroup Investment Stable Fund RMB Conservative Fund Allan Gray Stable Fund Investec Cautious Managed Fund
  32. 32. SIM Low Equity | Performance since inception (July 2010) Performance Rank SIM Low Equity Fund - A1 11.0% 1 Fund 1 10.5% 2 Fund 2 9.6% 3 Fund 3 9.4% 4 Fund 4 8.9% 5 Fund 5 6.6% 6 Fund 6 3.8% 7 Fund 7 2.9% 8 Asset Alloc Prud Low Eq 7.7% NAV to NAV – Local Currency From: 30 Jun 2010 to 28 Feb 2011Source: MoneyMate Income Reinvested on payment date
  33. 33. SIM Low Equity (since inception) Fund 1 Fund 2 Fund 3 Fund 4 Fund 5 Fund 6 Fund 7 Fund 8 SIM Low Equity Fund 14% 12% 10% 8% 6% 4% 2% 0% -2% July Aug Sep Oct Nov Dec 2011 Jan FebSource: MoneyMate
  34. 34. Some other exciting stuff…
  35. 35. sim.sanlam.com
  36. 36. Some of our Creative
  37. 37. Some of our Creative

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