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Portfolio Description and Investment Objective

This multi-asset class portfolio invests in equities, bonds, money market instruments and property, both locally and offshore. This portfolio will aim for long-term capital growth. However, a higher exposure to growth assets (equities and property) is likely to lead to a higher volatility over the short term. Investment performance will be driven by active stock picking and asset allocation. This portfolio may have a maximum effective equity exposure (including international equity) of up to 75% and a maximum effective property exposure (including international property) of up to 25% of the market value of the portfolio. Total allowable offshore exposure is 25%

Your Personal Balanced Portfolio

Sanlam Private Wealth Balanced Model Portfolio is constructed by the Investment Team based on an intensive and rigorous investment process. The model portfolio acts as a guide to your portfolio manager in customising your personal portfolio to suite your individual requirements. It is important to note that the performance on this fact sheet is based on the model portfolio and the performance of your portfolio may vary depending on the level of deviation from the model portfolio and the fees charged.

Why Select a Personal Portfolio

A personal portfolio is suitable to more discerning investors who might have unique factors to consider during the investment process. With a personal portfolio, your investment can be tailored to your unique requirements. You will have the benefit of more direct access to your portfolio manager Your portfolio will not be affected by the cash investment and withdrawals of other investors.


31 Jan 2020

Portfolio Information

Risk Rating

Moderate Aggressive

Inception Date

December 2004

Minimum Investment

R1 Million


Prudential High Equity

Management Company

Sanlam Private Wealth

Portfolio Manager

Alwyn van der Merwe

Initial Fees


Annual Management

Fee Slider Scale (refer to mandate)

Top 5 Share Holdings

Naspers Ltd


BHP Group Plc


Compagnie Financiere




British American Tobacco


Please note:
Your portfolio might vary from this

1. The net of fee calculation assumes a 1.15% Annual Management Charge and a Total Trading Costs of 1% (both inclusive of vat) on the value of actual portfolio turnover

Percentage Returns

portfolio manager's comment

Along with global markets, SA equities came under pressure in January on concerns about the spreading of the Asian coronavirus. The FTSE/JSE All Share Index (ALSI) ended the month 1.7% lower in rand terms and a whopping 8.4% lower in US dollar terms. The rand depreciated – as did other emerging market currencies – by 6.8% against the US dollar as investors turned to safe-haven currencies.

The SA industrials sector gained 1.6% in January. Strong performance was recorded by tobacco that gained 10.3%, and software and computers that advanced by 6.6% on the back of the robust performance of Naspers. SA resources lost 3.5% in January, largely dragged down by chemicals (Sasol) that returned -19.2%. Gold mining posted a positive total return of 1.4% as Sibanye gained 8.9%.

Bonds performed well as the All Bond Index (ALBI) posted a monthly total return of +1.2%, while cash yielded 0.58%. Listed property remained under pressure – SA listed property was the worst performing asset class, shedding 3.1%.

The portfolio delivered a return of 8.6% for the 12 months to the end of January, in line with the peer group average. The portfolio achieved this performance despite a conservative asset allocation stance – relatively low local and global equity exposure – both these asset classes performed strongly in the last quarter of 2019.

When compared to competing high-equity multi-asset unit trusts, the portfolio was positioned around the middle of the peer group over the past 12 months, but remains in the top third of the peer group over five years.

The equity exposure in the portfolio was maintained at 64%. Since we hold the view that we are in an advanced stage of a global equity bull market, the equity position is underweight relative to the maximum allowable equity exposure of 75%. We maintained the property holdings in the portfolio. The SA fixed interest exposure remains conservatively positioned.


Alwyn Van Der Merwe


About Sanlam Private Wealth

Sanlam Private Wealth is a holistic, integrated wealth management business that provides advice and manages assets for high net worth private individuals, cultural organizations, charitable institutions and similar entities with investable assets of more than R1 million

Mandatory Disclosure

Participation in the Sanlam Private Wealth’s Balanced Model Portfolio is a medium to long-term investment. The value of this portfolio is subject to fluctuation and past performance is not necessarily a guide as to its future performance. Calculations are based on a lump sum investment with gross income reinvested on the ex-dividend date. All performance figures exclude costs. Actual investment performance will differ based on the fees applicable, the actual investment date and the date of reinvestment of income. A schedule of fees and maximum commissions is available from the manager. Sanlam Private Wealth (Pty) Ltd, registration number 2000/023234/07, is a member of the Johannesburg Stock Exchange, a licensed Financial Services Provide (FSP 37473) and a Registered Credit Provide (NCRCP1867)

Treating Customers Fairly (TCF)

As a business we are committed to the principles of TCF, practicing a specific business philosophy that is based on client-centricity and treating customers fairly. Our clients can be confident they are dealing with a company where TCF is central to what we do and be reassured that we have a holistic wealth management product offering that is tailored to their needs, and a service that is of a high standard.

Contact Us

Tel: 021 950 2770


Farm 1, Vineyards Office Estate, 99 Jip de Jager Dr, Welgemoed 7530

Tyger Valley

Tel: 021 950 2300


Tel: 021 672 1888


Tel: 021 861 3700


Tel: 011 778 6600


Tel: 012 470 0622


Tel: 031 560 3600


Tel: 044 606 1100


Tel: 044 805 5900

About the
portfolio manager


Alwyn van der Merwe

B.Com(Hons), MBA

Alwyn was appointed as Director of Investments for Sanlam Private Wealth in 2007. He has over 24 years' investment industry experience and managed institutional and unit trust portfolios successfully for 14 years. Alwyn leads and chairs Sanlam Private Wealth's formal investment committee.

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