APS GLOBAL FLEXIBLE FUND OF FUNDS
A sub fund of the Sanlam Global Fund
January 2016
INVESTMENT OBJECTIVE
The investment objective of the Fund is to provide capital growth over a rolling three to five year period. There is no guarantee
that the Fund will meet its objective.
ABOUT THE FUND
Classification
Risk Profile
Benchmark
Equity Exposure
USD Flexible Allocation
High
MSCI ACWI
May have an equity exposure of up to 100%
Domicile
Listing
Ireland
Irish Stock Exchange
INVESTMENT STRATEGY
PORTFOLIO MANAGER
The investment strategy of the fund is to invest in underlying
funds which will provide the Fund with exposure to the range
of asset classes on a global basis.
Associated Portfolio Solutions (APS) is an investment
management operation which specialises in multi-managed
portfolios. The APS Investment Committee is comprised of a
number of investment specialists each having in excess of 15
years’ experience in the financial services industry. In order
to enhance APS’s investment process APS has appointed
Analytics Consulting to consult to the APS Investment
Committee on an advisory basis. Analytics Consulting is one
of the leading investment consulting operations in South
Africa.
The asset allocation process identifies which underlying funds
are needed to achieve the requisite exposures to the asset
classes. The asset allocation process includes the assimilation
of research data from various sources on topics such as global
economic conditions, asset class valuations and political and
social trends. This asset allocation process identifies which
opportunities will assist the fund in providing long term
capital growth for shareholders.
PORTFOLIO HISTORIC PERFORMANCE
Annualised returns
APS GLOBAL FLEXIBLE FUND OF FUNDS
Benchmark
Lowest 1 year rolling return
Highest 1 year rolling return
1yr
N/A
N/A
3yrs*
N/A
N/A
N/A
N/A
5yrs*
N/A
N/A
N/A
N/A
Inception*
N/A
N/A
N/A
N/A
*Annualised
ASSET ALLOCATION
UNDERLYING FUNDS
Investec Global Strategic Managed Fund
Nedgroup Investments Global Equity Fund
Investec Global MA Income Fund
Sarasin Global Real Estate Fund
Nedgroup Investments Global Flexible Fund
Coronation Global Managed Fund
USD Cash
17.53%
14.83%
19.79%
6.14%
18.02%
18.52%
5.17%
This document is a Minimum Disclosure Document (MDD) which contains key information about this portfolio. This MDD will be updated on a monthly basis and should be read in conjunction
with the prospectus & supplement.
Source: Figures quoted are from Morningstar, for the period ending January 2016.
Published Date: 2/22/2016
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APS GLOBAL FLEXIBLE FUND OF FUNDS
A sub fund of the Sanlam Global Fund
January 2016
Additional Information
Launch Date
08 May 2015
Depositary fee
Max 0.015% net assets p.a.
Base Currency
US Dollar
Total Expense Ratio
1.74% (estimated)
Opening NAV Price
$1
Income Declaration Dates
N/A
Fund Size
$43,102,912.67
N/A
Max 0.15% net assets p.a.
Last 12 months Distributions (cpu)
Income Reinvestment/Payout
Dates
Transaction cut-off time
0.20% net assets p.a.
Valuation time
Max 0.03% net assets p.a.
Frequency of pricing
Max US$2,500 p.a.
Daily Publication of Pricing
24h00 (South African time)
Daily on which the banks in Dublin, London and
South Africa are open for business
Irish Stock Exchange
Min. Initial Investment $5,000
Manager fee
Investment Manager
fee
Administration fee
Registrar and Transfer
Agent fee
N/A
16h00 (Irish time) on T-1
Risk Reward profile: High
Typically, the lower the risk, the lower the potential return and the higher the risk, the higher the potential return. There is no guarantee that returns will be
higher when investing in a portfolio with a higher risk profile
The risk profile for this portfolio is rated as high, as it may invest up to 100% in equity securities globally.
Characteristics
This is a multi-asset flexible equity portfolio, which means that the portfolio may have a maximum equity exposure of up to 100% at all times.
This fund is a specialist fund of funds that seeks to invest primarily in a broad range of unit trusts over most available asset classes.
Risks
Market Risk
Equity markets are volatile and the price of equities fluctuate based on a number of factors such as changes in the economic climate, general movements in interest
rates and the political and social environment which will also affect the value of the securities held in the unit trust, thereby affecting the overall value of the unit
trust.
Currency Risk / Foreign Exchange Risk
This risk is associated with investments that are denominated in foreign currencies. When the foreign currencies fluctuate against the South African Rand, the
investments face currency gains or losses.
ConcentrationRisk
Unit Trusts pool the assets of many investors and use the proceeds to buy a portfolio of securities. There are regulations in place which limit the amount that a unit
trust may invest in securities, thereby spreading the risk across securities, asset classes and companies.
Liquidity Risk
This relates to the ability of the unit trust to trade out of a security held in the portfolio at or near to its fair value. This may impact on liquidity and in the case of
foreign securities, the repatriation of funds.
Credit Risk
Credit risk is where an issuer of a non-equity security may not be able to make interest payments or repay the capital. This will impact the value of the unit trust.
Inflation Risk
The risk of potential loss in the purchasing power of your investment due to a general increase of consumer prices.
Political Risk
The risk that investment returns could suffer as a result of a country’s political changes or instability in the country. Instability could come from changes in the
country’s government, policy makers or military.
Tax Risk
This risk relates to any change to tax laws or to the interpretation of existing tax laws which has an impact on the manner in which unit trusts are taxed.
Compliance Risk
This refers to the risk of not complying with the legislation, regulations, prescribed investment limits and internal policies and procedures by the manager or the
portfolio manager.
APS Global Flexible Fund is a sub-fund of the Sanlam Global Funds plc, an open-ended umbrella type investment company, with segregated liability between its sub-funds, authorised by the Central Bank of Ireland, as a Retail Investors Alternative
Investment Fund, a category of non-UCITS collective investment scheme authorised under Part XIII of the Companies Act 1990 as amended, and Chapter 1 of the AIF Rule Book.
It is managed by Sanlam Asset Management (Ireland) Limited, Beech House, Beech Hill Road, Dublin 4, Ireland, telephone +353 1 205 3510, fax +353 1 205 3521, which is authorised by the Central Bank of Ireland, as a UCITS IV Management Company &
Alternative Investment Fund Manager and is licensed as a Financial Service Provider in terms of Section 8 of the South African FAIS Act of 2002. Associated Portfolio Solutions (Pty) Ltd (APS), is responsible for managing the Fund’s investments.
This is a Section 65 approved fund under the Collective Investment Schemes Control Act 45, 2002 (CISCA). Sanlam Collective Investments (RF) (Pty) Ltd is the South African Representative Office for this fund.
Although all reasonable steps have been taken to ensure the information in the portfolio minimum disclosure document is accurate, Sanlam Asset Management Ireland (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. No member of Sanlam gives any representation, warranty or undertaking, nor accepts any responsibility or liability as to the accuracy of any of this information. The information to follow does
not constitute financial advice as contemplated in terms of the South African Financial Advisory and Intermediary Services Act. Use or rely on this information at your own risk. Independent professional financial advice should always be sought before
making an investment decision. Collective investment schemes are generally medium to long term investments. Please note that 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. Changes in exchange rates may have an adverse effect on the value, price or income of the product.
The Sanlam Global Funds Plc full prospectus and the APS Global Flexible Fund supplement is available free of charge from the Manager, the Investment Manager or at www.sanlam.ie. Any offering is made only pursuant to the relevant offering document,
together with the current financial statements of the relevant fund, and the relevant subscription application forms, all of which must be read in their entirety together with the Prospectus and Supplements. No offer to purchase securities will be made or
accepted prior to receipt by the offeree of these documents, and the completion of all appropriate documentation.
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 based on the initial fees applicable, the actual investment date, 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. Trail commission and incentives may be paid and are for the account of the manager. International investments or investments in foreign securities could be accompanied by 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.
A fund of funds is a portfolio that invests in portfolios of collective investment schemes that levy their own charges, which could result in a higher fee structure for the fund of funds.
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 are outsourced to Regulated and authorised financial services providers.
Trustee / Custodian: Brown Brothers Harriman Trustee Services (Ireland) Ltd, 30 Herbert Street, Dublin 2, Ireland Tel: +353 1 241 7130 | Fax: +353 1 241 7131.
Investment Manager: Associated Portfolio Solutions (Pty) Ltd Tel: (012) 991 9100 Fax: (012) 991 6370.Website: www.associatedportfoliosolutions.co.za
APS is authorised under the Financial Advisory and Intermediary Services Act, 2002 (act 37 of 2002) as an authorised financial services provider, FSP no. 1722.
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