This document provides information on the STANLIB Multi-Manager Shari'ah Balanced Fund portfolio. It includes details such as:
- The portfolio size is R31.01 million
- Income is declared daily and distributed bi-annually
- The portfolio's benchmark allocation includes the FTSE/JSE Shari'ah ALSI 45%, STeFI Composite Index 35%, and Dow Jones Islamic World Index 15%
- Minimum lump sum investment is R5,000 and minimum debit order per month is R500
- The total expense ratio is 0.00% for Class A
- Top holdings include MTN Group, Sasol, Mondi, Vodacom Group, and Life Healthcare
SBI Equity Savings Fund: A Hybrid Mutual Fund Scheme - Nov 17SBI Mutual Fund
SBI Equity Savings Fund is an open-ended equity scheme which involves low risk hybrid strategies.This fund operates in a tax-efficient manner. SBI Equity Savings Fund aims to generate income by investing in arbitrage opportunities in the cash and derivatives segment of the equity market. It also aims to generate capital appreciation through a moderate exposure in equity. Learn more about SBI Equity Savings Fund at https://www.sbimf.com/en-us/hybrid-schemes/sbi-equity-savings-fund
This presentation summarizes the major differences between Nepal Financial Reporting Standards and Nepal Rastra Bank (NRB) directives. The presentation was made on October 2015 to the CEO and Audit Committee members of commercial banks of Nepal in a joint program organized by central bank of Nepal and Institute of Chartered Accountants of Nepal.
Check our Quantic Asset Management Global Macro Retail Factsheet for the month of April 2019. Find out more about our services https://www.quantic-am.com/en/
DSP World Mining Fund - An Open Ended Fund Of Funds Scheme investing in Mining Companies through International Funds
This Open-ended Fund of Funds Scheme is suitable for investors who are seeking*:
1. Long-term capital growth
2. Investment in units of overseas funds which invest primarily in equity and equity related securities of mining companies
3. High Risk**
*Investors should consult their financial advisors if in doubt about whether the Scheme is suitable for them.
**Risk may be represented as:
Low: Investors understand that their principal will be at low risk
Moderately Low: Investors understand that their principal will be at moderately low risk
Moderate: Investors understand that their principal will be at moderate risk
Moderately High: Investors understand that their principal will be at moderately high risk
High: Investors understand that their principal will be at high risk
SBI Equity Savings Fund: A Hybrid Mutual Fund Scheme - Nov 17SBI Mutual Fund
SBI Equity Savings Fund is an open-ended equity scheme which involves low risk hybrid strategies.This fund operates in a tax-efficient manner. SBI Equity Savings Fund aims to generate income by investing in arbitrage opportunities in the cash and derivatives segment of the equity market. It also aims to generate capital appreciation through a moderate exposure in equity. Learn more about SBI Equity Savings Fund at https://www.sbimf.com/en-us/hybrid-schemes/sbi-equity-savings-fund
This presentation summarizes the major differences between Nepal Financial Reporting Standards and Nepal Rastra Bank (NRB) directives. The presentation was made on October 2015 to the CEO and Audit Committee members of commercial banks of Nepal in a joint program organized by central bank of Nepal and Institute of Chartered Accountants of Nepal.
Check our Quantic Asset Management Global Macro Retail Factsheet for the month of April 2019. Find out more about our services https://www.quantic-am.com/en/
DSP World Mining Fund - An Open Ended Fund Of Funds Scheme investing in Mining Companies through International Funds
This Open-ended Fund of Funds Scheme is suitable for investors who are seeking*:
1. Long-term capital growth
2. Investment in units of overseas funds which invest primarily in equity and equity related securities of mining companies
3. High Risk**
*Investors should consult their financial advisors if in doubt about whether the Scheme is suitable for them.
**Risk may be represented as:
Low: Investors understand that their principal will be at low risk
Moderately Low: Investors understand that their principal will be at moderately low risk
Moderate: Investors understand that their principal will be at moderate risk
Moderately High: Investors understand that their principal will be at moderately high risk
High: Investors understand that their principal will be at high risk
Empowering the Unbanked: The Vital Role of NBFCs in Promoting Financial Inclu...Vighnesh Shashtri
In India, financial inclusion remains a critical challenge, with a significant portion of the population still unbanked. Non-Banking Financial Companies (NBFCs) have emerged as key players in bridging this gap by providing financial services to those often overlooked by traditional banking institutions. This article delves into how NBFCs are fostering financial inclusion and empowering the unbanked.
what is the future of Pi Network currency.DOT TECH
The future of the Pi cryptocurrency is uncertain, and its success will depend on several factors. Pi is a relatively new cryptocurrency that aims to be user-friendly and accessible to a wide audience. Here are a few key considerations for its future:
Message: @Pi_vendor_247 on telegram if u want to sell PI COINS.
1. Mainnet Launch: As of my last knowledge update in January 2022, Pi was still in the testnet phase. Its success will depend on a successful transition to a mainnet, where actual transactions can take place.
2. User Adoption: Pi's success will be closely tied to user adoption. The more users who join the network and actively participate, the stronger the ecosystem can become.
3. Utility and Use Cases: For a cryptocurrency to thrive, it must offer utility and practical use cases. The Pi team has talked about various applications, including peer-to-peer transactions, smart contracts, and more. The development and implementation of these features will be essential.
4. Regulatory Environment: The regulatory environment for cryptocurrencies is evolving globally. How Pi navigates and complies with regulations in various jurisdictions will significantly impact its future.
5. Technology Development: The Pi network must continue to develop and improve its technology, security, and scalability to compete with established cryptocurrencies.
6. Community Engagement: The Pi community plays a critical role in its future. Engaged users can help build trust and grow the network.
7. Monetization and Sustainability: The Pi team's monetization strategy, such as fees, partnerships, or other revenue sources, will affect its long-term sustainability.
It's essential to approach Pi or any new cryptocurrency with caution and conduct due diligence. Cryptocurrency investments involve risks, and potential rewards can be uncertain. The success and future of Pi will depend on the collective efforts of its team, community, and the broader cryptocurrency market dynamics. It's advisable to stay updated on Pi's development and follow any updates from the official Pi Network website or announcements from the team.
If you are looking for a pi coin investor. Then look no further because I have the right one he is a pi vendor (he buy and resell to whales in China). I met him on a crypto conference and ever since I and my friends have sold more than 10k pi coins to him And he bought all and still want more. I will drop his telegram handle below just send him a message.
@Pi_vendor_247
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
how to sell pi coins on Bitmart crypto exchangeDOT TECH
Yes. Pi network coins can be exchanged but not on bitmart exchange. Because pi network is still in the enclosed mainnet. The only way pioneers are able to trade pi coins is by reselling the pi coins to pi verified merchants.
A verified merchant is someone who buys pi network coins and resell it to exchanges looking forward to hold till mainnet launch.
I will leave the telegram contact of my personal pi merchant to trade with.
@Pi_vendor_247
The European Unemployment Puzzle: implications from population agingGRAPE
We study the link between the evolving age structure of the working population and unemployment. We build a large new Keynesian OLG model with a realistic age structure, labor market frictions, sticky prices, and aggregate shocks. Once calibrated to the European economy, we quantify the extent to which demographic changes over the last three decades have contributed to the decline of the unemployment rate. Our findings yield important implications for the future evolution of unemployment given the anticipated further aging of the working population in Europe. We also quantify the implications for optimal monetary policy: lowering inflation volatility becomes less costly in terms of GDP and unemployment volatility, which hints that optimal monetary policy may be more hawkish in an aging society. Finally, our results also propose a partial reversal of the European-US unemployment puzzle due to the fact that the share of young workers is expected to remain robust in the US.
when will pi network coin be available on crypto exchange.DOT TECH
There is no set date for when Pi coins will enter the market.
However, the developers are working hard to get them released as soon as possible.
Once they are available, users will be able to exchange other cryptocurrencies for Pi coins on designated exchanges.
But for now the only way to sell your pi coins is through verified pi vendor.
Here is the telegram contact of my personal pi vendor
@Pi_vendor_247
The WhatsPump Pseudonym Problem and the Hilarious Downfall of Artificial Enga...
Stanlib multi manager-shari'ah_balanced_fund_201508__smmsbf_retail
1. Portfolio Facts
Net revenue is declared on a daily basis and distributed bi-annually.
R 31.01 million
South African - Multi Asset - High Equity
FTSE/JSE Shari'ah ALSI 45%; STeFI Composite Index (less 0.5%) 35%; Dow Jones
Islamic World Index (ZAR) 15%; 3 Month USD LIBOR 5%
30 June & 31 December
Benchmark
Income Distribution
Sector Classification
Portfolio Size
Income Declaration
JSE Code STMSA
ISIN No. ZAE000202537
Debit Order Per Month R500
Minimum Investment
Lump Sum R5,000
Launch Date 25 Mar 2015
Total Expense Ratio * 0.00%
Class A
Maximum Portfolio Charges **
Upfront Charge: Manager 0.00%
Upfront Charge: Intermediary 3.42%
Total Service Charge 1.31%
Service Charge Intermediary Portion 0.57%
Please refer to page 2 under “Statutory Disclosure and General Terms & Conditions”
Additional Information can be obtained from Portfolio Charges Brochure on www.stanlib.com
*
**
Performance (%)
1 year 3 years 5 years
Rank (Class A) - - -
Sector - - -
Class A - - -
Benchmark - - -
Figures quoted are from Morningstar for the period ending 31 August 2015 for a lump sum, using NAV-NAV prices and do not
take any upfront manager's charge into account. Income distributions are declared on the ex-dividend date. Actual investment
performance will differ based on the upfront manager's charge applicable, the actual investment date and the date of
reinvestment of income.
Investment Policy and Objectives
The objective of the STANLIB Multi-Manager Shari’ah Balanced Fund of Funds is to provide
investors with long term capital growth.
In order to achieve this objective, the STANLIB Multi-Manager Shari’ah Balanced Fund of Funds
may invest in participatory interests or any other form of participation in portfolios of collective
investment schemes or other similar collective investment schemes including but not limited to
domestic and global equity, Islamic fixed term deposits and Sukuk as the Act may allow from time
to time: Provided that the investments are done in accordance with the manner, limits and
conditions as determined by the Registrar from time to time, and which are consistent with the
portfolio’s investment policy, as well as the Shari’ah Standards of the AAOIFI.
The portfolio will be managed in compliance with the Prudential Investment Guidelines that are
applicable to retirement funds from time to time and the investment standards of the Accounting
and Auditing Organization for Islamic Financial Institutions (AAOIFI).
STANLIB Multi-Manager Shari'ah Balanced Fund
Minimum Disclosure Document as at 31 August 2015
Underlying Portfolio's Investment Managers
Old Mutual Albaraka Equity Fund
Kagiso Islamic Balanced Fund
Old Mutual Albaraka Balanced Fund
Income Distribution
Paid in the last 12
months
Paid during
2014
2014 payments as
a % of year end
price
Risk Rating
Conservative Moderate Aggressive
Top Holdings (%)
MTN Group Limited 3.55
Sasol Ltd 3.28
Mondi Limited 3.28
Vodacom Group PTY LTD 2.18
Life Healthcare Group Holdings PTY LTD 2.05
BHP BILLITON PLC 1.86
Adcorp Holdings Ltd 1.68
Compagnie Financiere Richemont SA 1.65
Aspen Pharmacare Holdings Ltd 1.57
The Tongaat-hulett Group Ltd 1.31
Please refer to page 2 for more details regarding this portfolio as well as other important information for consideration
pg 1 of 2
Factsheet ID : 65322
2. Statutory Disclosure and General terms & Conditions
Collective Investment Schemes in Securities (CIS) are generally medium to long term investments. The value of
participatory interests may go down as well as up and past performance is not necessarily a guide to the future. An
investment in the participations of a CIS in securities is not the same as a deposit with a banking institution.
Participatory interest prices are calculated on a net asset value basis, which is the total value of all assets in the
Portfolio including any income accrual and less any permissible deductions from the Portfolio divided by the number
of participatory interests in issue. CIS are traded at ruling prices and can engage in borrowing and scrip lending.
Different classes of units apply to these portfolios and are subject to different fees and charges. A schedule of fees
and charges and maximum commissions is available on request from the company/scheme. Commission and
incentives may be paid and if so, would be included in the overall costs. This portfolio may be closed. Forward
pricing is used. Fluctuations or movements in exchange rates may cause the value of underlying international
investments to go up or down. A Portfolio of a collective investment scheme in securities may borrow up to 10% of
the market value of the Portfolio to bridge insufficient liquidity as a result of the redemption of participatory interests,
and may also engage in scrip lending. Liberty is a full member of the Association for Savings & Investment SA
(ASISA). The Manager is a member of the Liberty group of companies. All portfolios are valued on a daily basis at
15h30. Investments and repurchases will receive the price of the same day if received prior to 15h30. For Money
Market funds, instructions must reach the management company before 12h00 to ensure same day value. In terms
of Shari’ah Law STANLIB will purify the dividend income earned by automatically deducting all non-permissible
income from the total dividend income distribution due to the investor. All non-permissible income deducted will be
donated on behalf of investors to charitable organizations, as directed by the Shari’ah Supervisory Board.
Standard Chartered Bank, 4 Sandown Valley Crescent, Sandton, 2196, Tel: 011 217 6600Trustees :
Fund Features
The portfolio must comply with provisions of the Collective Investment Schemes Control Act, No. 45
of 2002 and the Regulations thereto, as amended from time to time.
The portfolio must comply with the Shari’ah Standards of the AAOIFI as well as any additional
guidelines as required by STANLIB’s Shari’ah Supervisory Board. The following scholars have been
appointed to the Shari’ah Board: Professor Mohammad Hashim Kamali, Mufti Ahmed Suliman and
Sheikh Faizal Manjoo.
The portfolio will be managed in compliance with the Prudential Investment Guidelines that are
applicable to retirement funds from time to time.
This portfolio may have direct and /or indirect foreign exposure up to the maximum as per the
ASISA South African – Multi Asset – High Equity Portfolio category as amended from time to time.
Franchise
STANLIB Multi-Manager has a dedicated team of specialist investment professionals responsible for
providing on-going, in-depth research into the entire universe of managers, both locally and offshore.
This team makes use of both qualitative and quantitative factors to select and blend managers for an
optimally constructed solution.
STANLIB Multi-Manager is an Asset Manager with an unbiased view of the market and the overall
portfolio. Investors gain access to quality specialist managers in the market, packaged into one
solution, managed and continuously maintained as part of our rigorous process.
STANLIB Multi-Manager Shari'ah Balanced Fund
Minimum Disclosure Document as at 31 August 2015
pg 2 of 2
Contact Details
STANLIB Collective Investments (RF) Limited
Reg. No. 1969/003468/06
17 Melrose Boulevard
Melrose Arch
Johannesburg
South Africa
PO Box 202
Melrose Arch
2076
0860 123 003
www.stanlib.com
Compliance No :
Contact Centre
Quarterly Comments
Market Overview
The IMF raised its projection for economic growth in Japan and
Europe, but cut its US growth forecast for the second time this
year. US economic data was mixed, though Q1 GDP was weaker
than expected at -0.7%. China reported its slowest GDP growth in
6 years, as factory data continued to weaken. In response the
PBOC announced two interest-rate cuts to stimulate its economy.
Bonds sold off globally amidst concerns around Greece. Against
this backdrop, the All Share Index was down slightly (-0.2%) –
Industrials were resilient (+1.7%) while Resources were
hammered (-4.9%) on negative earnings growth and continued
China weakness. Property struggled (-6.2%) as bond yields
jumped despite foreign inflows. Global equities edged up in $
terms (+0.5%); the rand return was similar (+0.4%) with the rand
basically flat over the quarter.
Portfolio Review
Kagiso was our best performing managers for the quarter, aided
by good stock selection – their portfolio benefitted from
overweights to CapCo, KAP, Metair and Mondi, and underweights
to Aspen, BHP, Goldfields, and Mediclinic. Old Mutual had a
challenging quarter being hurt by their overweight position to i)
gold miners, and ii) small/mid cap shares. Their portfolio
benefitted from overweights to Mondi and Cashbuild, and
underweights to Anglo and Netcare. But their detracting active
positions outweighed, which included overweights to Sibanye
Gold, South32, Nu-World, Pan African Resources and Howden,
and underweights to MTN and Sasol.
Portfolio positioning and Outlook
Markets have become increasingly challenging with the tug-of-war
intensifying between global growth concerns (particularly China)
being countered by highly supportive global liquidity measures.
The divergence between Industrials on the one hand and
Resources on the other hand has been pronounced. The allure of
“value” that resource shares have offered has left many investors
with scars, bringing us to a point of near universal hatred for the
Resource sector. While we acknowledge the negatives (labour
issues, Eskom woes, and global oversupply amidst a China
slowdown), a lot of bad news seems to be priced into our miners.
While anything can happen in the short term, we would caution
that such lopsided sentiment tends to foreshadow excess returns
for patient long-term investors (which should bode well for
Shari’ah funds in general). We are satisfied with the Fund’s
portfolio construct, which we feel positions it well to achieve its
longer-term objectives.
Naweed joined STANLIB Multi-Manager as
a Quant Analyst in 2014. Prior to this, he
worked as an analyst for a boutique
long/short equity hedge fund. He holds a
BSc Hons. degree in actuarial science.
Naweed Hoosenmia
Suhail Mohamed
Suhail joined STANLIB in 2010 as the
Shari’ah Manager, responsible for the
Shari’ah compliance for the fund as well as
product development and enhancement.
He holds a BCom (Hons) in Financial
Management and a MA in Islamic Finance.
Portfolio Manager