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Satrix MSCI World Equity Index Feeder Fund

Diversifying across countries can benefit your portfolio. Also, investors planning future international studies or travel, or perhaps an offshore retirement may want to look outside SA for wealth preservation. Investors don’t need an offshore bank account to invest in this fund; the returns will be paid into an SA bank account.

Quick Facts About The Fund

Satrix MSCI World Equity Index Feeder Fund

Launch Date: October 2013
Fund Size: R1 320.4 million
Benchmark: MSCI World Equity Index (in ZAR)
Time Horizon: 5 years +
Risk Profile: Aggressive
Fund Classification: Global - Equity - General
Min Investment Amount: Lump sum: R10 000 | Monthly: R500
Total Expense Ratio (TER): 0.90%
Launch Date: October 2013
Fund Size: R1 320.4 million
Benchmark: MSCI World Equity Index (in ZAR)
Time Horizon: 5 years +
Risk Profile: Aggressive
Fund Classification: Global - Equity - General
Min Investment Amount: Lump sum: R10 000 | Monthly: R500
Total Expense Ratio (TER): 0.90%

Fund Strategy

The Sanlam World Equity Tracker Fund (underlying fund) employs optimisation techniques to track the performance of the index, rather than attempting to hold all of the securities in the index.


Illustrative Annualised Investment Performance

Performance

Annualised as at 31 Jan 2017 on a rolling monthly basis
Retail Class Fund (%) Benchmark (%)
1 year 0.10 -0.76
3 year 11.36 12.79
5 year N/A N/A
Since inception 13.42 15.61

Annualised return is the weighted average compound growth rate over the period measured
Actual highest and lowest annual figures for rolling 10 years
Highest Annual % 25.37
Lowest Annual % 0.10

Minimum Disclosure Document (Fund Fact Sheet)

Performance Fees FAQ

Illustrative Annualised Investment Performance

Satrix MSCI World Equity Index Feeder Fund
MSCI World Equity Index (in ZAR)

Source of graph : Morningstar

This graph illustrates how an investment of R100 would have grown had you invested for the time period displayed. Like everything in life, all investments can change and come with some degree of risk. That’s why we need this disclaimer, to tell you that past performances are not necessarily a guide to future performances, and that the value of investments/units/unit trusts may go down as well as up.

The performance shown in the table above is a graphical representation of your selection (of the benchmark's past performance of the fund you selected) – including your investment objective, risk profile and fund choice – and is based on the past performance of the fund in relation to your investment. This performance is indicative and not guaranteed. The graph is for illustrative purposes only and investment performance is calculated by taking into account initial fees and all ongoing fees that you have to pay and the income reinvested on the reinvestment date.

The Manager has the right to close the portfolio to new investors in order to manage it more efficiently in accordance with its mandate. The actual fund performance can be viewed on the Minimum Disclosure Document. Annualised return is the weighted average compound growth rate over the period measured.

1. Apple Computer Co 1.75%
2. Microsoft Corp 1.29%
3. Exxon Mobil Corp 1.03%
4. Johnson & Johnson 0.83%
5. JP Morgan Chase & Co 0.81%
6. Facebook Inc 0.77%
7. Gen Elec Co - Com 0.75%
8. Alphabet Inc CI C 0.74%
9. AT & T Inc 0.74%
10. Wells Fargo & Co 0.69%
Equity Energy
Equity Utilities
Equity Health Care
Equity Information Technology
Equity Financials
Equity Telecommunication Services
Equity Consumer Discretionary
Equity Consumer Staples
Equity Industrials
Equity Materials
1. Apple Computer Co 1.75%
2. Microsoft Corp 1.29%
3. Exxon Mobil Corp 1.03%
4. Johnson & Johnson 0.83%
5. JP Morgan Chase & Co 0.81%
6. Facebook Inc 0.77%
7. Gen Elec Co - Com 0.75%
8. Alphabet Inc CI C 0.74%
9. AT & T Inc 0.74%
10. Wells Fargo & Co 0.69%
Equity Energy
Equity Utilities
Equity Health Care
Equity Information Technology
Equity Financials
Equity Telecommunication Services
Equity Consumer Discretionary
Equity Consumer Staples
Equity Industrials
Equity Materials

Unit Trust application forms

View, print and complete the form of your choice.
Email or fax the completed form to UTinstructions@sanlaminvestmentssupport.com or 0860 724 467

Unit Trust Application Form – Individual Investors Download PDF
Unit Trust Tax-Free Application Form Download PDF
Unit Trust Application Form - Non-Individual Investors Download PDF
Unit Trust Additional Investment Form Download PDF
Unit Trust Switching Form Download PDF
Unit Trust Investor Details Update Form Download PDF

View additional forms

Helena Conradie

Chief Executive Officer - Satrix

With a CFA and multiple degrees in Maths and Applied Maths, Helena clearly knows numbers. She started in a small start-up investment team, cut her teeth as a statistical research officer at Sanlam Life and also worked on the creation of Sanlam’s linked-product company, now known as Glacier. Since rejoining Sanlam Investment Management in 2000, Helena has built up a smart-thinking team that manages the largest equity portfolio of exchange traded funds (ETFs) in South Africa. They also have more than R30 billion in assets under management. That's quite a number.

Helena Conradie

Chief Executive Officer - Satrix

With a CFA and multiple degrees in Maths and Applied Maths, Helena clearly knows numbers. She started in a small start-up investment team, cut her teeth as a statistical research officer at Sanlam Life and also worked on the creation of Sanlam’s linked-product company, now known as Glacier. Since rejoining Sanlam Investment Management in 2000, Helena has built up a smart-thinking team that manages the largest equity portfolio of exchange traded funds (ETFs) in South Africa. They also have more than R30 billion in assets under management. That's quite a number.

Traditional Investing (When you invest via a Financial Adviser or other)

  • Advice initial fee (max.) N/A
  • Manager initial fee N/A
  • Advice annual fee (max.) 1.14%
  • Manager annual fee 0.57%
  • Total expense Ratio (TER) 0.90%
  • Transaction Cost (TC) 0.13%

Advice fee | Any advice fee is negotiable between the client and their financial advisor. An annual advice fee negotiated is paid via a repurchase of units from the investor.

The portfolio manager may borrow up to 10% of the market value of the portfolio to bridge insufficient liquidity. This fund is also available via certain LISPS (Linked Investment Service Providers), which levy their own fees.

Total Expense Ratio (TER) | The Total Expense Ratio (TER) is the charges incurred by the portfolio, for the payment of services rendered in the administration of the CIS. The TER is expressed as a percentage of the daily NAV of the CIS and calculated over a period of 1 year. The TER is calculated from 1 October 2015 to 30 September 2016. A higher TER does not imply a poor return nor does a low TER imply a good return.

The Transaction Cost (TC) is the cost incurred by the portfolio in the buying and selling of underlying assets. This is expressed as a percentage of the daily NAV of the CIS and calculated over a period of 1 year.

** The Satrix MSCI World Equity Index Feeder Fund invests in a share class of the underlying fund (Sanlam World Equity Tracker Fund Class I) which reinvests all income declared and received. As such, the Satrix MSCI World Equity Index Feeder Fund does not distribute.

When you invest online

Traditionally, investment advice come with a fee of up to 1.14%. But our smart online system is working to make investing cheaper and more profitable for you and hence no initial or annual advice fees will be charged. The management fee you do pay is based on the fund selected and calculated on your total contributions, and then applied to the overall value of your portfolio.

YOUR INVESTMENT WILL NOT CHARGE THE FOLLOWING FEES

Retail Class (%)
  • Advice initial fee (max.) N/A
  • Manager initial fee N/A
  • Advice annual fee (max.) 1.14%
  • Manager annual fee 0.57%
  • Total Expense Ratio (TER) 1.00%
  • Transaction Cost (TC) 0.07%

SO YOU’RE ONLY CHARGED THE RELEVANT FUND-MANAGEMENT FEE

  • Total Annual Fee: 1.14%

Satrix, pioneers in the passive management space are now fully owned by Sanlam. It was the first to market with a passive solution and recently launched SA’s first smart beta multi-asset fund. The Satrix range is Sanlam’s answer to the growing demand for low-cost investments with a predictable index-linked outcome.

Sanlam Collective Investments (RF) (Pty) Ltd and Satrix Managers (RF) (Pty) Ltd, a registered and approved Manager in Collective Investment Schemes in Securities. Collective investment schemes are generally medium- to long-term investments. Past performance is not necessarily a guide to future performance, 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 Manager on request. Collective investments are traded at ruling prices and can engage in borrowing and scrip lending. The Manager does not provide any guarantee either with respect to the capital or the return of a portfolio.

Annualised Total Returns Annualised return is the weighted average compound growth rate over the period measured.

Visit the Satrix website for more information

The year 2016 was definitely full of surprises starting with the Bank of Japan stunning the market with a surprise move to negative interest rates, muted Chinese GDP growth and the Brexit vote that wiped out about $2 trillion of global stocks overnight and knocked the British pound to 31-year lows. This was followed by Trump winning the presidency in a historic election upset in the US, which led to the dollar reaching a 14-year high in November and also the long-awaited Fed interest rate hike in December, with probably more to come in 2017.

The standout event over the last quarter must be the spectacular sell-off in US long bonds following the election of Donald Trump as president. The yield of the 30-year bond increased from 2.3% in October to 3.2% in mid-December as markets priced in the likelihood of fiscal stimulus with the Republicans firmly in control. The Fed continued on a path of vigilance against inflation as leading indicators point to growth and the first signs of wage inflation become visible. Both these events are a harbinger for a process that is likely to lead to higher global bond yields in future.

The 2016 performance of global equity markets was reasonable at best. The US dollar return of the MSCI Developed Markets Index was 8.2% and that for the MSCI Emerging Markets (EM) Index was 11.6%. The MSCI World Value Index outperformed its Growth counterpart by 7.8% over the last six months, a level that only occurred for 6% of the time over the last 20 years. Despite the 2016 rally, the MSCI Value shares are still close to historic lows in terms of earnings, valuations and price levels relative to Growth shares. The underperformance of Value stocks has closely tracked bond yields and inflation expectations, both of which are in a bottoming process.

It is our view that global growth will be driven by an acceleration in the US with stable growth in the Eurozone. The Chinese economy will probably grow at a slightly lower rate as fiscal stimulus and the leveraging of the property sector slow down.

Portfolio performance and changes

The MSCI World Index (Developed Markets) realised a net return of 1.8% in US dollar terms for the fourth quarter of 2016, which was much better than that of the MSCI EM Index (-4.2%).

Our Feeder fund buy and sell units in a ‘parent fund’ called the Satrix MSCI World Index Fund, which tracks 23 developed countries with more than 1 600 shares included in the index. We do the tracking of this index through a process of optimisation with a tracking error varying between 15 and 20 basis points.

The MSCI World Index (in rand terms) managed a return of about 1.5% over the last three months. Over this period the rand weakened slightly against the US dollar.

Conclusion

We don’t expect 2017 to be a calm year in financial markets. In Europe, German and French elections will bring with them the usual dose of political uncertainty and further west, chatter around Brexit is unlikely to die down with Article 50 likely to be invoked in the first half of 2017.

Similarly, locally, the succession debate within the ruling party is likely to intensify. In the US, the Trump presidency will be under pressure to deliver on the pro-growth promises, which has swept the Republicans to victory.

These events are likely to cause further market volatility.

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