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Code for Responsible Investing in South Africa (CRISA)

CRISA came into effect in February 2012 and gives guidance on how institutional investors should execute investment analysis and investment activities and exercise rights to promote sound governance. Its principles are aligned with those of the UN Principles for Responsible Investing (UNPRI), of which we are also a signatory.

While the application of CRISA is voluntary, institutional investors are expected to adopt the principles and practice recommendations in CRISA on an “apply or explain” basis. Disclosure is required at least once a year.

CRISA was drafted in response to the King 3 report

King 3 requires companies to apply the King principles or explain why they do not apply. The investment industry recognised that unless they engaged with corporates, King 3 would lose effect. Both King 3 and CRISA were drafted under the auspices of the Institute of Directors (IOD) and the Association of Savings and Investments in SA (ASISA), amongst others, gave input on CRISA. Both require institutional investors to take environmental, social and corporate governance (ESG) issues seriously.

In signing the code, we commit to integrating its five principles into our investment process

  1. We will incorporate sustainability considerations, including ESG, into our investment process as part of delivering superior risk-adjusted returns to our investors.
  2. We will show that we accept ownership responsibility in our investment arrangements and investment activities.
  3. Where appropriate, we will consider a collaborative approach to promote the acceptance and implementation of CRISA’s principles as well as other codes and standards applicable to institutional investors.
  4. We will recognise circumstances and relationships that hold a potential for conflicts of interest and will proactively manage these when they occur.
  5. We will be transparent about our policy content, how we implement the policies, and how we apply CRISA to enable stakeholders to make informed assessments.

UN Principles for Responsible Investing (UNPRI)

By 2016, 10 years after inception, over 1 500 investment institutions, with assets under management of US$ 62 trillion had signed up to the UNPRI. Sanlam was the first South African private sector asset owner to become a signatory.

In signing up to the UNPRI, we committed to the following:

  • We will incorporate ESG issues into our investment analysis and decision-making processes.
  • We will be active owners and incorporate ESG issues into our ownership policies and practices.
  • We will seek appropriate disclosure on ESG issues by the entities in which we invest.
  • We will promote acceptance and implementation of the UNPRI principles within the investment industry.
  • We will work together to enhance our effectiveness in implementing the UNPRI principles.
  • We will each report on our activities and progress towards implementing the UNPRI principles.
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Sanlam Investments consists of the following authorised Financial Services Providers: Sanlam Investment Management (Pty) Ltd (“SIM”), Sanlam Multi Manager International (Pty) Ltd (“SMMI”), Satrix Managers (RF) (Pty) Ltd, Graviton Wealth Management (Pty) Ltd (“GWM”), Graviton Financial Partners (Pty) Ltd (“GFP”), Satrix Investments (Pty) Ltd, Amplify Investment Partners (Pty) Ltd, Sanlam Capital Markets (Pty) Ltd (“SCM”), Sanlam Private Wealth (Pty) Ltd (“SPW”), Sanlam Credit Fund Advisor Proprietary Limited, Sanlam Africa Real Estate Advisor Proprietary Limited and Sanlam Employee Benefits (“SEB”), a division of Sanlam Life Insurance Limited and Simeka Wealth (Pty) Ltd; and has the following approved Management Companies under the Collective Investment Schemes Control Act: Sanlam Collective Investments (RF) (Pty) Ltd (“SCI”) and Satrix Managers (RF) (Pty) Ltd (“Satrix”).

The Sanlam Group is a full member of the Association for Savings and Investment SA. Collective investment schemes are generally medium- to long-term investments. Please note that past performances are not necessarily an accurate determination of future performances, and that the value of investments / units / unit trusts may go down as well as up. A schedule of fees and charges and maximum commissions is available from the Managers, Sanlam Collective Investments (RF) Pty Ltd & Satrix Managers (RF) (Pty) Ltd, a registered and approved Managers in Collective Investment Schemes in Securities. Additional information of the proposed investment, including brochures, application forms and annual or quarterly reports, can be obtained from the Manager, free of charge. Collective investments are traded at ruling prices and can engage in borrowing and scrip lending. Collective investments are calculated on a net asset value basis, which is the total market value of all assets in the portfolio including any income accruals and less any deductible expenses such as audit fees, brokerage and service fees. Actual investment performance of the portfolio and the investor will differ depending on the initial fees applicable, the actual investment date, and the date of reinvestment of income as well as dividend withholding tax. Forward pricing is used. The Manager does not provide any guarantee either with respect to the capital or the return of a portfolio. The performance of the portfolio depends on the underlying assets and variable market factors. Performance is based on NAV to NAV calculations with income reinvestments done on the ex-div date. Lump sum investment performances are quoted. The portfolio may invest in other unit trust portfolios which levy their own fees, and may result is a higher fee structure for our portfolio. All the portfolio options presented are approved collective investment schemes in terms of Collective Investment Schemes Control Act, No 45 of 2002 (“CISCA”). The fund may from time to time invest in foreign instruments which could be accompanied by additional risks as well as potential limitations on the availability of market information. The Manager has the right to close any portfolios to new investors to manage them more efficiently in accordance with their mandates. The portfolio management of all the portfolios is outsourced to financial services providers authorized in terms of the Financial Advisory and Intermediary Services Act, 2002. Standard Bank of South Africa Ltd is the appointed trustee of the Sanlam Collective Investments Scheme & Standard Chartered Bank is the appointed trustee of the Satrix Managers Scheme.

Sanlam Life Insurance is a licensed financial service provider.
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