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Smooth Growth Series

Smoothed bonus portfolios address a common investment behavioural problem that many investors, especially those in living annuities face. These investors are often risk-averse and without appropriate advice may end up too conservatively invested for their risk profile and investment horizon. This problem is aggravated when one needs to draw a regular income for the investment, as in the case of a living annuity.

The Smooth Growth Series consists of two portfolios, the Sanlam Smooth Growth Fund and the Sanlam Select Growth Fund.

The Sanlam Smooth Growth Fund is a single-managed, moderate-aggressive multi-asset class portfolio managed by Sanlam Investments’ Single-Manager.

The Sanlam Select Growth Fund is a multi-managed, moderate-aggressive balanced fund of funds managed by Sanlam Investments’ Multi-Manager.

The smoothing provided by these portfolios reduces the volatility of the investment, giving risk averse members the capacity to invest more in growth assets such as equities and property.

Smooth Growth Series

Available for the following product categories

  • Living Annuities
  • Retirement Annuity Funds
  • Retail Preservation Funds

Suitable for investors who

  • Want high exposure to growth assets but with reduced short-term volatility in their retirement income portfolios.
  • Aim for investment returns of CPI + 4.5% over the longer term.
  • Understand that with the monthly bonus formula they will have less market volatility than similar multi-asset class portfolios but in the event of severe market conditions their bonuses may at times be zero or negative.

What the fund aims to achieve and how

The objective of the fund is to provide stable long-term capital growth. This is achieved by smoothing volatile investment returns while declaring monthly bonuses.

More information

Sanlam Smooth Growth Product Brochure Fund Factsheet
Sanlam Select Growth Product Brochure Fund Factsheet


The role of smoothing in living annuities | Danie van Zyl

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