REBALANCE BCI INFLATION PLUS 5 FUND
FACTSHEET & MINIMUM DISCLOSURE DOCUMENT
As at: 30 April 2017
FUND INFORMATION
FUND OBJECTIVE
The Rebalance BCI Inflation Plus 5 Fund is a multi managed fund that seeks to sustain a moderate long-term total
return. The fund will target a total return of CPI for all urban areas plus 5% p.a. over any rolling 5 year period by way of
risk profiling, active asset allocation as well as underlying investment and investment manager selection processes.
INVESTMENT MANDATE
The fund will be managed in compliance with prudential investment guidelines for retirement funds in South Africa to
the extent allowed for by the Act. The fund’s net equity exposure will range between 0% and 75% of the fund’s net asset
value. In order to achieve its objective, the investments normally to be included in the portfolio may comprise a
combination of assets in liquid form, money market instruments, interest bearing instruments, bonds, debentures,
corporate debt, equity securities, property securities, preference shares, convertible equities, non-equity securities and
participation in portfolios of collective investment schemes or other similar collective investment schemes. The fund
may from time to time invest in listed and unlisted financial instruments. The manager may include forward currency,
interest rate and exchange rate swap transactions.
FUND PERFORMANCE (Net of Fees)
Portfolio Managers:
JB Smith & Tavonga Chivizhe
Economist:
Dr Chris Harmse
Laucnh Date:
17 November 2014
Portfolio Value:
R307 816 777.80
NAV Price (Fund Inception):
100.00
NAV Price at month end:
109.35
JSE Code:
RBIP5
ISIN Number:
ZAE000195228
ASISA Category:
SA – Multi Asset – High Equity
Benchmark:
CPI + 5%
Recommend Investment Horizon:
5 Years
Regulation 28 Compliant:
Yes
RISK PROFILE
30%
Rebalance BCI Inflation Plus 5 Fund
25%
Growth (Cumulative)
Benchmark
20%
ASISA SA Multi Asset High Equity Category Ave.
CONSERVATIVE
15%
CAUTIOUS
MODERATE
AGGRESSIVE
Moderate | Medium Risk
10%
•
This portfolio has a balanced exposure to various asset classes. It
holds more equity exposure than a low risk portfolio but less than a
5%
high-risk portfolio. In turn the expected volatility is higher than a low
risk portfolio, but less than a high-risk portfolio.
0%
•
returns are expected.
Cumulative (%)
1 Year
3 Years
5 Years
10 Years
Since Inception*
Fund
(0.05%)
-
-
-
13.70%
Benchmark
10.76%
-
-
-
27.83%
ASISA Category Ave.
4.01%
-
-
-
14.70%
Annualised (%)**
1 Year
3 Years
5 Years
10 Years
Fund
(0.05%)
-
-
-
5.31%
Benchmark
10.76%
-
-
-
10.69%
ASISA Category Ave.
4.01%
-
-
-
5.84%
Highest & Lowest Monthly Returns
2017
2016
Since Inception*
2015
2014
2013
High
1.65%
5.33%
5.20%
0.00
0.00
Low
(0.42%)
(3.61%)
(2.51%)
0.00
0.00
*Since Inception date: 17 November 2015 **Annualised return is the weighted average compound growth rate over the period measured.
ASSET ALLOCATION
Local
0%
10%
20%
30%
Offshore
40%
50%
60%
70%
80%
90%
Africa
100%
49,58%
11,87%
11,09%
8,25%
6,04%
6,16%
2,81%
0,54%
Equity
Property
Fixed
Interest
LOCAL
Cash
Other
Equity
The probability of losses is higher than that of a low risk portfolio, but
less than a high-risk portfolio and moderate long term investment
Date
Property
1,54%
Fixed
Interest
OFFSHORE
Cash
0,05%
0,00%
Other
Fixed
Interst
1,52%
0,55%
Property
Equity
AFRICA
•
Where the asset allocation contained in this MDD reflect offshore
exposure, the portfolio is exposed to currency risks
•
The portfolio is exposed to equity as well as default and interest rate
risks.
•
Therefore, it is suitable for medium to long term investment horizons.
UNDERLYING MANAGER EXPOSURE
Ashburton Investments
Taquanta Asset Management
Prudential Portfolio Managers
Allan Gray Investment Management
Coronation Fund Managers
Stanlib Asset Management
Denker Capital
Sanlam Investment Management
ABSA Corporate
Blue Alpha Investment Management
Aylett & Co Fund Managers
Cash
Investec Asset Management
Visio Capital Management
Prescient Investment Management
Rudiarius Capital Management
First Avenue Investment Management
Orbis Investment Management
Perpetua Investment Managers
Reitway Global
Sesfikile Capital
Old Mutual
Veritas Asset Management
Stenham Asset Management
22,66%
18,05%
12,09%
10,04%
7,86%
5,77%
5,00%
3,98%
3,23%
2,29%
1,79%
1,24%
0,95%
0,91%
0,57%
0,56%
0,51%
0,49%
0,46%
0,45%
0,41%
0,29%
0,27%
0,15%
TOP 10 HOLDINGS
Nedgroup Investments Core Diversified Fund
18.05%
Prudential Balanced Fund
10.06%
Allan Gray Balanced Fund
10.04%
BCI Best Blend Global Equity
6.80%
BCI Best Blend Specialist Equity Fund
6.01%
Coronation Top 20 Fund
5.00%
SMM Institutional Positive Return Fund
5.00%
BCI Best Blend Global Property Fund
2.94%
Coronation Financials Fund
2.09%
Stanlib Bond Fund
2.04%
REBALANCE BCI INFLATION PLUS 5 FUND
FACTSHEET & MINIMUM DISCLOSURE DOCUMENT
Managed by Rebalance Fund Managers (Pty) Ltd an authorized financial services provider, FSP 45054
PORTFOLIO MANAGERS INFORMATION
OUR BUSINESS
JB Smith graduated from the University of Stellenbosch with an B.Comm Honours in Financial Analysis. He has 10 years financial
market experience. JB is both Chief Executive and Chief Investment Officer at Rebalance Fund Managers. He is responsible for
the firm’s product and investment activities. He is a member of the Institute of Directors Southern Africa.
Specialization is an integral factor to optimal client service. For this reason we
aren’t reinventing the wheel but rather partnering with various Financial
Service Providers to assist in optimally servicing clients. There is an existing
Tavonga Chiviche has a Honours in Actuarial Science from the University of Cape Town. He has 10 years experience in financial
markets. Tavonga is currently the Chief Investment Officer at Boutique Investment Partners and co-portfolio manager for
Rebalance Fund Managers. Tavonga is responsible for investment strategy and direction.
trust relationship between the client and his financial advisor. Our goal is to
build and add to this by way of our asset consulting, portfolio and retirement
fund management skills and products.
OTHER FUND INFORMATION
FEE STRUCTURE
REBALANCE INVESTMENT BELIEFS
Minimum lump sum:
R25 000
Advisory Fee (Max):
3.42% (incl. VAT)
Minimum monthly investment:
R1000
Annual Service Fee:
1.20% (incl. VAT)
Our belief is that an investment philosophy should start at client level with the
Valuation:
Daily
Initial Fee:
0.00% (incl. VAT)
financial advisor and build up to portfolio level with the investment manager.
Valuation Time:
15h00
Transaction Time:
14h00
Total Expense Ratio (TER):
1.89% (incl. VAT)
No single manager outperforms over all time periods and in all market
Date of Income Declaration:
28 Feb/31 Aug
Transaction Costs:
0.19% (incl. VAT)
conditions. Different managers have different alpha sources, which are
Date of Income Payment:
2nd day of Mar/Sept
Performance fees included in TER:
0.00%
relatively successful in different time periods and in different markets
Total Investment Charge:
2.08% (incl. VAT)
conditions and environments. We are proponents of multi management. By
Income Distribution (cpu)
constructing and managing funds on a multi manager approach we can
Feb’17
0.99 cpu
improve the certainty of portfolio outcomes over the target investment
Aug16
1.08 cpu
horizon.
OUR DETAILS
INFORMATION AND DISCLOSURES
INVESTMENT MANAGER
Rebalance Fund Managers, an authorized financial services provider in terms of the Financial Advisory and Intermediary Services Act,
2002 (Act No. 37 of 2002), FSP 45054
•
Additional information, including application forms, annual or quarterly reports can be obtained from Boutique Collective Investments (RF)
(Pty) Ltd, free of charge or can be accessed on our website www.bcis.co.za
•
Clients invested via a Link Investment Service Provider (LISP) can access additional information, including application forms, annual or
quarterly reports directly from the LISP.
•
Valuation takes place daily and prices can be viewed on our website (www.bcis.co.za) or in the daily newspaper.
•
Actual annual performance figures are available to existing investors on request.
•
Upon request the Manager will provide the investor with portfolio quarterly investment holdings reports.
FSP Number
: 45054
Website
: www.rebalancefm.co.za
E-mail
: [email protected]
Telephone
: 012 435 8013 or 087 121 0418
Fax
: 086 574 8237
Pretoria Office
: 81 Dely Road, Hazelwood
Tzaneen Office
: 4 Windsor Street, Tzaneen
CUSTODIAN / TRUSTEE INFORMATION
The Standard Bank of South Africa Limited
Tel: 021 441 4100
FAIS CONFLICT OF INTEREST DISCLOSURE
Please note that your financial advisor may be a related party to the conaming partner and/or BCI. It is your financial advisor’s responsibility to disclose all fees he/she receives from any related party. The portfolio’s TER includes
all fees paid by portfolio to BCI, the trustees, the auditors, banks, the co-naming partner, underlying portfolios, and any other investment consultants/managers as well as distribution fees and LISP rebates, if applicable. The
portfolio’s performance numbers are calculated net of the TER expenses. The investment manager earns a portion of the service charge and performance fees where applicable. In some instance portfolios invest in other
portfolios which forms part of the BCI Schemes. These investments will be detailed in this document, as applicable.
TOTAL EXPENSE RATIO AND TRANSACTION COSTS
A higher TER ratio does not necessarily imply a poor return, nor does a low TER imply a good return. The current TER cannot be regarded as an indication of future TER's. Transaction Costs are a necessary cost in administering the
Fund and impacts Fund returns. It should not be considered in isolation as returns may be impacted by many other factors over time including market returns, the type of Fund, the investment decisions of the investment manager
and the TER. The TER and Transaction Costs cannot be determined accurately because of the short life span of the Fund. Calculations are based on actual data where possible and best estimates where actual data is not
available. The TER and Transaction cost is calculated since inception for the period (annualised) ending 31 December 2016.
DISCLAIMER
Boutique Collective Investments (RF) (Pty) Ltd (“BCI”) is a registered Manager of the Boutique Collective Investments Scheme, approved in terms of the Collective Investments Schemes Control Act, No 45 of 2002 and is a full member of
the Association for Savings and Investment SA. Collective Investment Schemes in securities are generally medium to long term investments. The value of participatory interests may go up or down and past performance is not necessarily
an indication of future performance. The Manager does not guarantee the capital or the return of a portfolio. Collective Investments are traded at ruling prices and can engage in borrowing and scrip lending. A schedule of fees, charges
and maximum commissions is available on request. Boutique Collective Investments (RF) (Pty) Ltd reserves the right to close portfolio to new investors and reopen certain portfolios from time to time in order to manage them more
efficiently. Additional information, including application forms, annual or quarterly reports can be obtained from Boutique Collective Investments (RF) (Pty) Ltd, free of charge. Performance figures quoted for the portfolio are from
Morningstar, as at the date of this factsheet for a lump sum investment, using NAV-NAV with income reinvested 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 initial fees charge applicable, the actual investment date, the date of reinvestment and dividend withholding tax. Certain investments – including those involving futures, optoins,
equity swaps, and other derivatives may give rise to substantial risk and might not be suitable for all investors. Investments in foreign securities may include additional risks such as potential constraints on liquidity and repatriation of
funds, macroeconomic risk, political risk, foreign exchange risk, tax risk, settlement risk as well as potential limitations on the availability of market information. Boutique Collective Investments (RF) Pty Ltd retains full legal responsibility for
the third party named portfolio. Although reasonable steps have been taken to ensure the validity and accuracy of the information in this document, Boutique Collective Investments (RF) (Pty) Ltd does not accept any responsibility for any
claim, damages, loss or expense, however it arises, out of or in connection with the information in this document, whether by a client, investor or intermediary. This document should not be seen as an offer to purchase any specific
product and is not to be construed as advice or guidance in any form whatsoever. Investors are encouraged to obtain independent professional investment and taxation advice before investing with or in any of Boutique Collective
Investments (RF) (Pty) Ltd /the Manager’s products. Effective Annual Cost (“EAC”):Boutique Investments Investments adopted the ASISA Standards on Effective Annual Cost (“EAC”). The EAC measure allows you to compare charges on
your investments as well as their impact on your investment returns prior to investing. For further information regarding the ASISA Standard on Effective Annual Cost and access to the EAC calculator visit – www.bcis.co.za. Investment
performance is for illustrative purposes only and calculated by taking actual initial fees and ongoing fees into account for amount shown with income reinvested on reinvestment date.
MANAGEMENT COMPANY INFORMATION
Boutique Collective Investments (RF) (Pty) Ltd
Catnia Building, Bella Rosa Village
Bella Rosa Street, Bellville, 7530
PO Box 3625
Tyger Valley
7536
Tel: 021 007 1500/1/2 or 021 914 1880
Fax: 086 502 5319
Email: [email protected] | www.bcis.co.za
ISSUE DATE: 24 May 2017