income assets
Citadel SA Money Market H4 FundCitadel SA Income H4 Fund
Citadel SA Bond H4 Fund
Citadel Preference Share Model Portfolio
MESSAGE FROM CAM
INSIGHTS
ECONOMIC OUTLOOK
UPDATE
FUND PERFORMANCE
Estimated reading time: 10 minutes read
DOMESTIC SOLUTIONS RISK PROFILE -THIRD QUARTER 2022
Citadel SA Income H4 Fund
Citadel SA Bond H4 Fund
Citadel Preference Share Model Portfolio
capital preservation
Citadel SA Multi-Strategy H4 QIHFCitadel SA Multi-Strategy H4 RIHF
Citadel SA Protected Equity H4 Fund
multi-asset
Citadel Balanced H4 FundH4 Stable Fund
H4 Diversified Fund
H4 Growth Fund
long-term growth
Citadel Global Equity H4 FundCitadel SA Multi-Factor Equity H4 Fund
Citadel SA 20/20 Equity H4 Portfolio
H4 Focused Wealth Fund
Citadel 20/20 Equity Portfolio
Citadel SA Property H4 Fund
Citadel SA Property Portfolio
INTERNATIONAL SOLUTION RISK PROFILE - THIRD QUARTER 2022
income assets
PEREGRINE GLOBAL BOND FUNDcapital preservation
CAM BASTION FUNDCAM PINNACLE FUND
PEREGRINE US PROTECTED EQUITY FUND
multi-asset
PEREGRINE GLOBAL BALANCED FUNDlong-term growth
PEREGRINE GLOBAL MULTISTRATEGY EQUITY FUNDPEREGRINE EMERGING MARKET FUND
PEREGRINE GLOBAL GREATS FUND
CITADEL GLOBAL GREATS PORTFOLIO
CITADEL GLOBAL HIGH DIVIDEND PORTFOLIO
PEREGRINE GLOBAL HIGH DIVIDEND FUND
CITADEL GLOBAL MACRO PORTFOLIO
PEREGRINE GLOBAL MACRO FUND
PEREGRINE GLOBAL REAL ESTATE FUND
CITADEL GLOBAL PROPERTY PORTFOLIO
ASSET CLASSES AND ECONOMIC DATA
| PERFORMANCE AS AT 30 SEPTEMBER 2022 (%) | 3 MONTHS | 1 YEAR | 3 YEARS | 5 YEARS | NOTES | |
| RETURNS FOR PERIODS LONGER THAN 1 YEAR ARE ANNUALISED | ||||||
| (Performance in rand) | ||||||
| STeFI 3-month Total Return Index | South African Money Market | 1,2% | 4,2% | 4,4% | 5,4% | |
| FTSE/JSE All Bond Index | South African Bonds | 0,6% | 1,5% | 5,7% | 7,1% | |
| FTSE/JSE All Share Index | South African Equity | -1,9% | 3,5% | 9,2% | 6,5% | |
| ICE BofAML US Treasury Index | US Bonds | 4,5% | 3,7% | 2,4% | 5,6% | |
| MSCI AC World Index (Net) | Global Equity | 2,2% | -5,2% | 9,8% | 10,6% | |
| MSCI AC World High Dividend Yield Index (Net) | Global Equity (High Dividend Yielding) | -0,4% | 3,3% | 6,7% | 8,5% | |
| MSCI Emerging Markets Index (Net) | Emerging Market Equity | -3,0% | -14,1% | 3,6% | 4,0% | |
| SA CPI | South African Inflation | 1,7% | 7,4% | 5,1% | 4,9% | 1 |
| ZAR/USD | 9,7% | 19,5% | 5,8% | 5,9% | ||
| (Performance in US dollar) | ||||||
| FTSE/JSE All Bond Index | South African Bonds | -8,3% | -15,0% | -0,1% | 1,2% | |
| ICE BofAML US Treasury Index | US Bonds | -4,7% | -13,2% | -3,2% | -0,3% | |
| FTSE/JSE All Share Index | South African Equity | -10,6% | -13,3% | 3,2% | 0,6% | |
| MSCI AC World Index (Net) | Global Equity | -6,8% | -20,7% | 3,7% | 4,4% | |
| MSCI AC World High Dividend Yield Index (Net) | Global Equity (High Dividend Yielding) | -9,2% | -13,5% | 0,8% | 2,4% | |
| MSCI Emerging Markets Index (Net) | Emerging Market Equity | -11,6% | -28,1% | -2,1% | -1,8% |
NOTES:
- September 2022 CPI was not available at the time of publication and an estimate was used.
Sources: Morningstar and Refinitiv
PORTFOLIO PERFORMANCE
NOTES:
- H4 Stable Fund’s inception date is 31 May 2013. Strategy changed on 1 July 2015 and prior performance history was lost.
- Composite benchmark changed from 1 September 2019.
- FTSE/JSE Top 40 Index (J200T) before 5 March 2018.
- FTSE/JSE All Share Index before 1 June 2018.
- MSCI World Net (in rand) before 1 April 2011.
- FTSE/JSE Listed Property Index prior to 1 May 2019.
- H4 CPI + 6% prior to name change on 1 March 2021.
- SA Protected Equity prior to name change on 1 April 2021.
- Only ‘Qualified Investors’ which meet prescribed requirements are permitted to invest in this fund. Please speak to your financial advisor if you have any questions.
- A class returns reflected – actual client returns may vary due to equalisation shares.
- The Peregrine Capital High Growth Funds do not have a benchmark and do not contribute towards the return of the ASISA SA Multi Asset – High Equity Category. The data for the ASISA SA Multi Asset – High Equity Category is provided for comparative purposes.
- The Peregrine Capital Pure Hedge Funds do not have a benchmark and do not contribute towards the return of the ASISA SA Multi Asset – Low Equity Category. The data for the ASISA SA Multi Asset – Low Equity Category is provided for comparative purposes.
- September 2022 CPI was not available at the time of publication and an estimate was used.
- 30 September 2022 price not available at time of publication. Performance calculated up to 31 August 2022.
NOTES:
- MSCI World (Net) in US$ before 1 April 2011.
- 30% FTSE WGBI (hedged to US$), 70% MSCI AC World Net US$ before 1 September 2019.
- MSCI AC World Net US$ before 1 January 2018.
- Peregrine US Protected Equity Fund prior to name change on the 1st of December 2020.
NOTES:
- MSCI World (Net) in US$ before 1 April 2011.
- 30% FTSE WGBI, 70% MSCI AC World Net US$ before 1 September 2019.
- MSCI AC World Net US$ before 1 January 2018.
- MSCI AC World Net US$ (hedged to ZAR) prior to 1 January 2018.
- 30% FTSE WGBI, 70% MSCI AC World Net (hedged to US$) before 1 September 2019.
- Peregrine US Protected Equity Fund prior to name change on the 1st of December 2020.
GENERAL DISCLAIMER AVAILABLE FROM NIKKI KLERCK (nikkik@citadel.co.za)
| FUND COSTS AS AT 30 SEPTEMBER 2022 | AMF (incl. VAT) | FY TER | ASISA TER | TC | TIC | INCEPTION DATE | NOTES | |
| DOMESTIC UNIT TRUSTS AND HEDGE FUNDS | ||||||||
| INTEREST BEARING | ||||||||
| Citadel SA Money Market H4 B1 Class Fund | South African - Interest Bearing - Money Market | 0,52% | 0,55% | 0,55% | 0,00% | 0,55% | 01-Sep-13 | |
| Citadel SA Income H4 B1 Class Fund | South African - Interest Bearing - Short Term | 0,58% | 0,59% | 0,59% | 0,00% | 0,59% | 05-Nov-14 | |
| Citadel SA Bond H4 B1 Class Fund | South African - Interest Bearing - Variable Term | 0,86% | 0,88% | 0,88% | 0,04% | 0,92% | 08-Aug-01 | |
| RETAIL HEDGE FUNDS | ||||||||
| Citadel Multi-Strategy H4 RI Hedge Fund | SA - Multi-Strategy Hedge Fund | 1,44% | 1,70% | 1,76% | 0,60% | 2,36% | 01-Sep-16 | |
| Peregrine Capital High Growth H4 RI Hedge Fund A Class | Worldwide - Multi-Strategy Hedge Fund | 1,73% | 4,22% | 5,98% | 1,75% | 7,73% | 02-Dec-19 | 3 |
| Peregrine Capital Pure Hedge H4 RI Hedge Fund A Class | Worldwide - Multi-Strategy Hedge Fund | 1,15% | 1,85% | 2,78% | 1,46% | 4,24% | 03-Feb-20 | 3 |
| QUALIFIED INVESTOR HEDGE FUNDS | ||||||||
| Citadel Multi-Strategy H4 QI Hedge Fund | SA - Multi-Strategy Hedge Fund | 1,44% | 5,29% | 5,29% | 1,11% | 6,40% | 01-Nov-16 | 2 |
| Peregrine Capital High Growth H4 QI Hedge Fund A Class | Worldwide - Multi-Strategy Hedge Fund | 2,56% | 4,29% | 5,16% | 1,21% | 6,37% | 01-Dec-16 | 2,3 |
| Peregrine Capital Pure Hedge H4 QI Hedge Fund A Class | Worldwide - Multi-Strategy Hedge Fund | 1,41% | 2,14% | 2,75% | 0,94% | 3,69% | 01-Dec-16 | 2,3 |
| MULTI-ASSET | ||||||||
| Citadel Balanced H4 B1 Class Fund | South African - Multi Asset - High Equity | 1,44% | 1,62% | 1,67% | 0,16% | 1,83% | 01-Apr-11 | |
| Citadel SA Managed Volatility Equity H4 Fund | South African - Multi Asset - Flexible | 1,15% | 1,18% | 1,17% | 0,15% | 1,32% | 02-Feb-15 | |
| Citadel Worldwide Flexible H4 Fund B3 | Worldwide Multi Asset Flexible | 1,44% | 1,57% | 1,59% | 0,14% | 1,73% | 17-Oct-17 | |
| MULTI-ASSET (REAL RETURN SOLUTION) | ||||||||
| H4 Stable Fund | South African - Multi Asset - Low Equity | 0,75% | 0,83% | 0,84% | 0,09% | 0,93% | 01-Jul-15 | |
| H4 Diversified Fund | South African - Multi Asset - High Equity | 0,75% | 0,85% | 0,86% | 0,14% | 1,00% | 22-May-13 | |
| H4 Growth Fund | Worldwide - Multi Asset - Flexible | 0,75% | 0,95% | 0,93% | 0,13% | 1,06% | 22-May-13 | |
| H4 Worldwide Equity Fund | Worldwide - Equity - General | 0,75% | 0,97% | 0,95% | 0,10% | 1,05% | 22-May-13 | |
| H4 Managed Fund | South African - Multi Asset - Flexible | 0,75% | 0,89% | 0,89% | 0,11% | 1,00% | 21-Nov-17 | |
| EQUITY | ||||||||
| H4 Focused Wealth Fund | South African - Equity - General | 1,15% | 1,79% | 1,63% | 0,22% | 1,85% | 06-Oct-11 | 1 |
| Citadel SA 20/20 Equity H4 B1 Class Fund | South African - Equity - General | 1,15% | 1,17% | 1,17% | 0,12% | 1,29% | 09-May-17 | |
| Citadel SA Multi-Factor Equity H4 B1 Class Fund | South African - Equity - General | 0,92% | 0,95% | 0,96% | 0,51% | 1,47% | 18-Jun-15 | |
| Citadel Global Equity H4 FoF | Global - Equity - General | 1,44% | 1,69% | 1,80% | 0,09% | 1,89% | 06-Nov-02 | |
| PROPERTY | ||||||||
| Citadel SA Property H4 B1 Class Fund | South African - Real Estate - General | 1,15% | 1,19% | 1,19% | 0,07% | 1,26% | 10-Dec-14 |
NOTES:
FY TERs (Total Expense Ratio as at Financial Year-end) have been calculated using data from 1 April 2021 to 31 March 2022 unless stated otherwise.
ASISA TER (Total Expense Ratio) and TCs (Transaction Cost Ratio) have been calculated using data from 1 July 2019 to 30 June 2022 unless stated otherwise. The TIC (Total Investment Charges) is the sum of these figures.
- The H4 Focused Wealth Fund charges a Performance Fee of 20% of the excess total return above the fund benchmark (80% J300T (J400 prior to 4 June 2017) + 20% STEFI Composite) over a rolling 1-year; capped at 1% p.a. The Performance Fee is calculated daily and deducted monthly on a high-water mark principle.
- Only ‘Qualified Investors’ which meet prescribed requirements are permitted to invest in this fund. Please speak to your financial advisor if you have any questions.
- A class fees reflected. Actual client performance fees may vary due to equalisation shares.
| FUND COSTS AS AT 30 SEPTEMBER 2022 | AMF | FY TER | ASISA TER | TC | TIC | INCEPTION DATE | NOTES | |
| INTERNATIONAL SOLUTIONS (FSCA Approved) | ||||||||
| INTEREST BEARING | ||||||||
| Peregrine Enhanced USD Cash Fund | US - Interest Bearing - Short Term | 0,35% | 0,47% | 0,49% | 0,03% | 0,52% | 25-Jul-19 | |
| Peregrine Enhanced USD Cash Fund ZAR Share Class | US - Interest Bearing - Short Term (Hedged to rand) | 0,35% | 0,52% | 0,50% | 0,04% | 0,54% | 22-Jul-20 | |
| Peregrine US Bond Fund USD Share Class | US - Interest Bearing | 0,60% | 1,24% | 1,20% | 0,12% | 1,32% | 02-Sep-19 | |
| Peregrine US Bond Fund ZAR Share Class | US - Interest Bearing (Hedged to rand) | 0,80% | 1,45% | 1,41% | 0,13% | 1,54% | 02-Sep-19 | |
| EQUITY | ||||||||
| Peregrine Global Greats Fund Class R USD | Global - Equity - General | 1,25% | 1,37% | 1,37% | 0,05% | 1,42% | 03-Aug-12 | 1 |
| Peregrine Global Greats Fund Class R ZAR Share Class | Global - Equity - General (Hedged to rand) | 1,25% | 1,41% | 1,42% | 0,05% | 1,47% | 06-Sep-17 | |
| Peregrine Global Multi-Strategy Equity USD | Global - Equity - General | 1,25% | 1,64% | 1,63% | 0,14% | 1,77% | 03-Jun-00 | 2 |
| Peregrine Global Multi-Strategy Equity ZAR Share Class | Global - Equity - General (Hedged to rand) | 1,25% | 1,67% | 1,67% | 0,18% | 1,85% | 31-Dec-04 | 2 |
| Peregrine Global Growth Fund USD Class R | Global - Equity - General | 1,25% | n/a | 1,35% | 0,22% | 1,57% | 20-Aug-21 | |
| Peregrine Global Equity Feeder Fund USD Class R | Global - Equity - General | 1,25% | n/a | 1,71% | 0,36% | 2,07% | 10-Aug-21 | |
| Peregrine Global Dividend Fund USD Class R | Global - Equity - Income | 1,25% | n/a | 1,35% | 0,13% | 1,48% | 08-Sep-21 | |
| EMERGING MARKET EQUITY | ||||||||
| Peregrine Emerging Market Equity Fund USD R | Emerging Market - Equity - General | 1,25% | n/a | 1,63% | 0,14% | 1,77% | 02-Jun-21 | |
| MULTI-ASSET | ||||||||
| Peregrine US Managed Volatility Equity Fund USD Class R | US - Multi-Asset - Flexible | 1,25% | 1,48% | 1,49% | 0,05% | 1,54% | 27-Oct-16 | |
| Peregrine US Managed Volatility Equity Fund Class R ZAR Share Class | US - Multi-Asset - Flexible (Hedged to rand) | 1,25% | n/a | 1,53% | 0,05% | 1,58% | 01-Dec-20 | |
| Peregrine Global Balanced | Global - Multi Asset - High Equity | 1,25% | 1,65% | 1,66% | 0,11% | 1,77% | 01-Feb-11 | 2 |
| Peregrine Global Balanced Fund ZAR Share Class | Global - Multi Asset - High Equity (Hedged to rand) | 1,25% | 1,67% | 1,66% | 0,14% | 1,80% | 01-Jul-11 | 2 |
| PROPERTY | ||||||||
| Peregrine Global Real Estate Fund R Class | Global - Real Estate | 1,25% | 1,44% | 1,44% | 0,07% | 1,51% | 25-Apr-15 |
NOTES:
FY TERs (Total Expense Ratio as at Financial Year-end) have been calculated using data from 1 January 2021 to 31 December 2021 unless stated otherwise.
ASISA TER (Total Expense Ratio) and TCs (Transaction Cost Ratio) have been calculated using data from 1 July 2019 to 30 June 2022 unless stated otherwise. The TIC (Total Investment Charges) is the sum of these figures.
- TER includes Performance Fees charged prior to 1 January 2018. TER excluding Performance Fees are:
Peregrine Global Greats Fund Class R USD 1,37%. - FY TERs (Total Expense Ratio as at Financial Year-end) have been calculated using data from 1 April 2021 to 31 March 2022.
GENERAL DISCLAIMER AVAILABLE FROM NIKKI KLERCK (nikkik@citadel.co.za)
ROLLING ONE YEAR RETURNS
ONE YEAR ROLLING PERFORMANCE FROM INCEPTION (CLICK TO VIEW)
FUND INFORMATION
| (CLICK TO VIEW A FULL REPORT) | |
| DOMESTIC SOLUTIONS | INTERNATIONAL SOLUTIONS |
| INCOME ASSETS | |
| CITADEL SA MONEY MARKET H4 FUND | PEREGRINE US BOND FUND |
| CITADEL SA INCOME H4 FUND | PEREGRINE US BOND FUND ZAR |
| CITADEL SA BOND H4 FUND | PEREGRINE ENHANCED USD CASH FUND |
| DOMESTIC SOLUTIONS | INTERNATIONAL SOLUTIONS |
| CAPITAL PRESERVATION | |
| CITADEL SA MANAGED VOLATILITY EQUITY H4 FUND | PEREGRINE US MANAGED VOLATILITY EQUITY USD FUND |
| CITADEL MULTI-STRATEGY H4 QIHF | PEREGRINE US MANAGED VOLATILITY EQUITY ZAR FUND |
| CITADEL MULTI-STRATEGY H4 RIHF | |
| PEREGRINE CAPITAL HIGH GROWTH H4 Q1 | |
| PEREGRINE CAPITAL PURE HEDGE H4 Q1 | |
| DOMESTIC SOLUTIONS | INTERNATIONAL SOLUTIONS |
| MULTI-ASSET | |
| CITADEL BALANCED H4 FUND | PEREGRINE GLOBAL BALANCED USD FUND |
| CITADEL WORLDWIDE FLEXIBLE H4 FUND | PEREGRINE GLOBAL BALANCED ZAR FUND |
| H4 DIVERSIFIED FUND | |
| H4 GROWTH FUND | |
| H4 MANAGED FUND B1 | |