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Citation - Fourth Quarter 2022

FUND PERFORMANCE

FOURTH QUARTER 2022

MESSAGE FROM CAM

CALENDAR YEARS vs. CYCLES

INDUSTRY NEWS

CITADEL’S H4 DIVERSIFIED FUND RANKED AS ONE OF BEST IN SOUTH AFRICA

INSIGHTS

CORPORATE EARNINGS – WHAT DO THEY TELL US ABOUT THE HEALTH OF ECONOMIES?

ECONOMIC OUTLOOK

PREPARING FOR ANOTHER TOUGH YEAR AHEAD

UPDATE

ASSET VALUATION SIGNALS

FUND PERFORMANCE

FOURTH QUARTER 2022

DISCLAIMER

FEEDBACK


Estimated reading time: 10 minutes read

DOMESTIC SOLUTIONS RISK PROFILE - FOURTH QUARTER 2022

income assets

Citadel SA Money Market H4 Fund
Citadel SA Income H4 Fund
Citadel SA Bond H4 Fund
Citadel Preference Share Model Portfolio

capital preservation

Citadel SA Multi-Strategy H4 QIHF
Citadel SA Multi-Strategy H4 RIHF
Citadel SA Protected Equity H4 Fund

multi-asset

Citadel Balanced H4 Fund
Citadel Stable H4 Fund
Citadel Diversified H4 Fund
Citadel Growth H4 Fund

long-term growth

Citadel Global Equity H4 Fund
Citadel SA Multi-Factor Equity H4 Fund
Citadel SA Core Equity H4 Fund
Citadel Core Equity Portfolio
Citadel SA Property H4 Fund
Citadel SA Property Portfolio

INTERNATIONAL SOLUTION RISK PROFILE - FOURTH QUARTER 2022

income assets

PEREGRINE GLOBAL BOND FUND

capital preservation

CAM BASTION FUND DOLLAR
CAM BASTION FUND RAND
CAM PINNACLE FUND
PEREGRINE US PROTECTED EQUITY FUND

multi-asset

PEREGRINE GLOBAL BALANCED FUND
PEREGRINE GLOBAL LOW EQUITY FUND
PEREGRINE GLOBAL MEDIUM EQUITY FUND
PEREGRINE GLOBAL HIGH EQUITY FUND

long-term growth

PEREGRINE GLOBAL MULTI-STRATEGY EQUITY FUND
PEREGRINE EMERGING MARKET FUND
PEREGRINE GLOBAL GREATS FUND
CITADEL GLOBAL GREATS PORTFOLIO
CITADEL GLOBAL HIGH DIVIDEND PORTFOLIO
PEREGRINE GLOBAL HIGH DIVIDEND FUND
CITADEL GLOBAL GROWTH PORTFOLIO
PEREGRINE GLOBAL GROWTH FUND
PEREGRINE GLOBAL REAL ESTATE FUND
CITADEL GLOBAL PROPERTY PORTFOLIO
PEREGRINE GLOBAL EQUITY FEEDER FUND

ASSET CLASSES AND ECONOMIC DATA

PERFORMANCE AS AT 31 DECEMBER 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 1,5% 4,8% 4,4% 5,4%
FTSE/JSE All Bond Index South African Bonds 5,6% 4,2% 7,1% 7,9%
FTSE/JSE All Share Index South African Equity 15,2% 3,6% 12,7% 8,0%
ICE BofAML US Treasury Index US Bonds -4,7% -7,1% 3,9% 6,4%
MSCI AC World Index (Net) Global Equity 3,9% -13,0% 11,0% 12,1%
MSCI AC World High Dividend Yield Index (Net) Global Equity (High Dividend Yielding) 7,8% -1,4% 9,4% 11,2%
MSCI Emerging Markets Index (Net) Emerging Market Equity 3,9% -14,8% 3,9% 5,1%
SA CPI South African Inflation 1,0% 7,2% 5,4% 4,9% 1
ZAR/USD -5,3% 6,6% 6,8% 6,6%
(Performance in US dollar)
FTSE/JSE All Bond Index South African Bonds 11,6% -2,2% 0,3% 1,2%
ICE BofAML US Treasury Index US Bonds 0,7% -12,9% -2,7% -0,1%
FTSE/JSE All Share Index South African Equity 21,6% -2,8% 5,6% 1,3%
MSCI AC World Index (Net) Global Equity 9,8% -18,4% 4,0% 5,2%
MSCI AC World High Dividend Yield Index (Net) Global Equity (High Dividend Yielding) 13,9% -7,5% 2,5% 4,4%
MSCI Emerging Markets Index (Net) Emerging Market Equity 9,7% -20,1% -2,7% -1,4%
NOTES:
  1. December 2022 CPI was not available at the time of publication and an estimate was used.

Sources: Morningstar and Refinitiv

PORTFOLIO PERFORMANCE

PERFORMANCE AS AT 31 DECEMBER 2022 (%) 1 YEAR 3 YEARS 5 YEARS SINCE INCEPTION INCEPTION DATE NOTES
RETURNS FOR PERIODS LONGER THAN 1 YEAR ARE ANNUALISED
UNIT TRUSTS
(Performance in rand)
INTEREST BEARING
Citadel SA Money Market H4 Fund South African - Interest Bearing - Money Market 5,4% 4,9% 6,0% 6,4% 01-Sep-13
Benchmark: STeFI 3-month Total Return Index 4,8% 4,4% 5,4% 5,8%
Citadel SA Income H4 Fund South African - Interest Bearing - Short Term 5,7% 5,4% 6,5% 7,0% 05-Nov-14
Benchmark: STeFI Composite Total Return Index 5,2% 4,8% 5,8% 6,3%
Citadel SA Bond H4 Fund South African - Interest Bearing - Variable Term 4,3% 7,2% 8,0% 8,7% 08-Aug-01
Benchmark: FTSE/JSE All Bond Index 4,3% 7,1% 7,8% 9,0%
RETAIL HEDGE FUNDS
Citadel Multi-Strategy H4 RI Hedge Fund SA - Multi-Strategy Hedge Fund 3,3% -12,4% -4,8% -2,9% 01-Sep-16 15
Benchmark: STeFI 3-month Total Return Index + 3% 7,9% 7,5% 8,6% 8,9%
Peregrine Capital High Growth H4 RI Hedge Fund A Class Worldwide - Multi-Strategy Hedge Fund 10,2% 12,5% 12,2% 02-Dec-19 11
Benchmark: (ASISA) South African MA High Equity Peer Group Average -0,2% 8,1% 8,3% 12
Peregrine Capital Pure Hedge H4 RI Hedge Fund A Class Worldwide - Multi-Strategy Hedge Fund 10,8% 8,7% 03-Feb-20 11
Benchmark: (ASISA) South African MA Low Equity Peer Group Average 1,4% 6,4% 13
QUALIFIED INVESTOR HEDGE FUNDS
Citadel Multi-Strategy H4 QI Hedge Fund SA - Multi-Strategy Hedge Fund 11,1% 9,5% 7,4% 7,4% 01-Nov-16 10, 15
Benchmark: STeFI 3-month Total Return Index + 3% 7,9% 7,5% 8,6% 8,9%
Peregrine Capital High Growth H4 QI Hedge Fund A Class Worldwide - Multi-Strategy Hedge Fund 11,5% 13,7% 9,8% 11,0% 01-Dec-16 10, 11
Benchmark: (ASISA) South African MA High Equity Peer Group Average -0,2% 8,1% 5,9% 6,6% 12
Peregrine Capital Pure Hedge H4 QI Hedge Fund A Class Worldwide - Multi-Strategy Hedge Fund 12,9% 10,5% 10,0% 10,1% 01-Dec-16 10, 11
Benchmark: (ASISA) South African MA Low Equity Peer Group Average 1,4% 6,6% 5,9% 6,3% 13
MULTI-ASSET
Citadel Balanced H4 Fund South African - Multi Asset - High Equity 1,6% 7,6% 6,4% 8,6% 01-Apr-11
Benchmark: (ASISA) South African MA High Equity Peer Group Average -1,0% 10,6% 8,9% 11,0% 2
Citadel SA Managed Volatility Equity H4 Fund South African - Multi Asset - Flexible 6,7% 4,2% 6,1% 6,8% 02-Feb-15 8
Benchmark: 60% FTSE/JSE Top 40, 40% STeFI Composite 5,0% 10,6% 7,9% 8,0%
Citadel Worldwide Flexible H4 Fund Worldwide - Multi Asset - Flexible -3,4% 8,6% 7,6% 7,2% 17-Oct-17
Benchmark: SA CPI +4% 11,5% 9,6% 9,1% 9,1% 14
MULTI-ASSET (REAL RETURN SOLUTION)
H4 Stable Fund South African - Multi Asset - Low Equity 1,5% 7,6% 7,7% 7,0% 01-Jul-15 1
Benchmark: SA CPI +2% 9,3% 7,5% 7,0% 7,1% 14
H4 Diversified Fund South African - Multi Asset - High Equity 0,8% 9,3% 8,0% 7,7% 22-May-13
Benchmark: SA CPI +4% 11,5% 9,6% 9,1% 9,3% 14
H4 Growth Fund Worldwide - Multi Asset - Flexible -4,4% 8,0% 7,4% 7,2% 22-May-13
Benchmark: SA CPI +6% 13,6% 11,7% 11,2% 11,4% 14
H4 Worldwide Equity Fund Worldwide - Equity - General -6,1% 10,3% 9,1% 8,8% 22-May-13
Benchmark: SA CPI +7% 14,7% 12,7% 12,3% 12,5% 14
H4 Managed Fund South African - Multi Asset - Flexible 0,9% 9,5% 7,5% 6,8% 21-Nov-17 7
Benchmark: SA CPI +6% 13,6% 11,7% 11,2% 11,3% 14
EQUITY
Citadel SA Core Equity H4 Fund South African - Equity - General 6,8% 12,3% 6,2% 8,2% 09-May-17 9
Benchmark: FTSE/JSE Capped Top 40 Index (J300T) 5,2% 14,2% 8,8% 10,1% 3
Citadel SA Multi-Factor Equity H4 Fund South African - Equity - General 3,7% 12,0% 7,0% 6,8% 18-Jun-15
Benchmark: FTSE/JSE Capped All Share Index (J303T) 4,6% 13,6% 8,2% 8,4% 4
Citadel Global Equity H4 FoF Global - Equity - General -10,5% 9,9% 10,7% 8,7% 06-Nov-02
Benchmark: MSCI AC World Net (in rand) -13,0% 11,0% 12,1% 10,3% 5
PROPERTY
Citadel SA Property H4 Fund South African - Real Estate - General -2,2% -4,4% -8,3% -1,1% 10-Dec-14
Benchmark: FTSE/JSE All Property Index -1,9% -4,3% -7,9% -0,7% 6
NOTES:
  1. H4 Stable Fund’s inception date is 31 May 2013. Strategy changed on 1 July 2015 and prior performance history was lost.
  2. Composite benchmark prior to 1 June 2022.
  3. FTSE/JSE Top 40 Index (J200T) before 5 March 2018.
  4. FTSE/JSE All Share Index before 1 June 2018.
  5. MSCI World Net (in rand) before 1 April 2011.
  6. FTSE/JSE Listed Property Index prior to 1 May 2019.
  7. H4 CPI + 6% prior to name change on the 1 March 2021.
  8. SA Protected Equity prior to name change on 1 April 2021.
  9. Citadel SA 20/20 Equity H4 Fund prior to name change on the 1st of December 2022.
  10. 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.
  11. A class returns reflected – actual client returns may vary due to equalisation shares.
  12. 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.
  13. 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.
  14. December 2022 CPI was not available at the time of publication and an estimate was used.
  15. 31 December 2022 price not available at time of publication. Performance calculated up to 30 November 2022.
USD PERFORMANCE AS AT 31 DECEMBER 2022 (%) 1 YEAR 3 YEARS 5 YEARS SINCE INCEPTION INCEPTION DATE NOTES
RETURNS FOR PERIODS LONGER THAN 1 YEAR ARE ANNUALISED
INTERNATIONAL SOLUTIONS (FSCA Approved)
(Performance in US dollar)
INTEREST BEARING
Peregrine Enhanced USD Cash Fund US - Interest Bearing - Short Term 0,5% 0,4% 0,6% 25-Jul-19
Benchmark: ICE BofA 3M US Treasury Bill Index 1,5% 0,7% 0,9%
Peregrine US Bond Fund USD Share Class US - Interest Bearing -14,0% -3,7% -3,8% 02-Sep-19
Benchmark: ICE BofA US Treasury Index -12,9% -2,7% -3,0%
ALTERNATIVE
Peregrine US Managed Volatility Equity Fund USD Class R US - Multi-Asset - Flexible -10,5% 1,9% 3,5% 4,3% 27-Oct-16 4
Benchmark: 60% S&P 500, 40% USD Overnight Cash -10,4% 5,1% 6,2% 7,5%
MULTI-ASSET
Peregrine Global Balanced Global - Multi Asset - High Equity -15,7% 0,8% 2,8% 3,7% 01-Feb-11 2
Benchmark: 30% ICE BofA US Treasury Index, 70% MSCI AC World Net US$ -16,4% 2,5% 3,8% 5,9%
EQUITY
Peregrine Global Greats Fund Class R USD Global - Equity - General -18,1% 3,3% 5,6% 7,4% 03-Aug-12
Benchmark: MSCI World (Net) in US$ -18,1% 4,9% 6,1% 9,1% 3
Peregrine Global Multi-Strategy Equity USD Global - Equity - General -16,6% 2,0% 2,6% 3,0% 03-Jun-00
Benchmark: MSCI AC World Net US$ -18,4% 4,0% 5,2% 4,3% 1
Peregrine Global Growth Fund USD Class R Global - Equity - General -19,3% -11,8% 20-Aug-21
Benchmark: 20% ICE BofA US Treasury Index, 80% MSCI World (Net) in US$ -14,3% -7,5%
Peregrine Global Equity Feeder Fund USD Class R Global - Equity - General -10,4% -8,9% 10-Aug-21
Benchmark: MSCI AC World Net US$ -18,4% -11,2%
Peregrine Global Dividend Fund USD Class R Global - Equity - Income -9,4% -4,6% 08-Sep-21
Benchmark: MSCI World High Dividend Yield Index -4,7% -1,5%
EMERGING MARKET EQUITY
Peregrine Emerging Market Equity Fund USD R Emerging Market - Equity - General -20,5% -17,1% 02-Jun-21
Benchmark: MSCI Emerging Market Net US$ -20,1% -18,9%
PROPERTY
Peregrine Global Real Estate Fund R Class Global - Real Estate -27,3% -2,2% 1,5% 1,9% 25-Apr-15
Benchmark: MSCI World REITS Net US$ -25,9% -1,5% 2,7% 3,4%
NOTES:
  1. MSCI World (Net) in US$ before 1 April 2011.
  2. 30% FTSE WGBI (hedged to US$), 70% MSCI AC World Net US$ before 1 September 2019.
  3. MSCI AC World Net US$ before 1 January 2018.
  4. Peregrine US Protected Equity Fund prior to name change on the 1st of December 2020.
ZAR PERFORMANCE AS AT 31 DECEMBER 2022 (%) 1 YEAR 3 YEARS 5 YEARS SINCE INCEPTION INCEPTION DATE NOTES
RETURNS FOR PERIODS LONGER THAN 1 YEAR ARE ANNUALISED
INTERNATIONAL SOLUTIONS (FSCA Approved)
(Performance in rand)
INTEREST BEARING
Peregrine Enhanced USD Cash Fund US - Interest Bearing - Short Term 7,2% 7,2% 6,8% 25-Jul-19
Benchmark: ICE BofA 3M US Treasury Bill Index 8,2% 7,5% 7,0%
Peregrine US Bond Fund USD Share Class US - Interest Bearing -8,4% 2,9% -0,5% 02-Sep-19
Benchmark: ICE BofA US Treasury Index -7,1% 3,9% 0,4%
INTEREST BEARING (HEDGED TO RAND)
Peregrine Enhanced USD Cash Fund ZAR Share Class US - Interest Bearing - Short Term (Hedged to rand) 4,4% 4,7% 22-Jul-20
Benchmark: ICE BofA 3M US Treasury Bill Index (Hedged to rand) 5,3% 4,8%
Peregrine US Bond Fund ZAR Share Class US - Interest Bearing (Hedged to rand) -7,1% 4,4% 2,1% 02-Sep-19
Benchmark: ICE BofA US Treasury Idx (50% Hedged to rand) -8,2% 3,1% 1,2%
ALTERNATIVE
Peregrine US Managed Volatility Equity Fund USD Class R US - Multi-Asset - Flexible -4,6% 8,8% 10,3% 7,8% 27-Oct-16 6
Benchmark: 60% S&P 500, 40% ICE BofA SOFR Index -4,5% 12,2% 13,2% 11,1%
ALTERNATIVE (HEDGED TO RAND)
Peregrine US Managed Volatility Equity Fund Class R ZAR Share Class US - Multi-Asset - Flexible (Hedged to rand) -3,2% 10,5% 01-Dec-20
Benchmark: 60% S&P 500, 40% ICE BofA SOFR Index (50% Hedged to rand) -5,6% 7,9%
MULTI-ASSET
Peregrine Global Balanced Global - Multi Asset - High Equity -10,2% 7,6% 9,5% 11,5% 01-Feb-11
Benchmark: 30% ICE BofA US Treasury Index, 70% MSCI AC World Net US$ -10,9% 9,4% 10,6% 13,8% 2
MULTI-ASSET (HEDGED TO RAND)
Peregrine Global Balanced Fund ZAR Share Class Global - Multi Asset - High Equity (Hedged to rand) -12,5% 4,5% 6,9% 8,8% 01-Jul-11
Benchmark: 30% ICE BofA US Treasury Index, 70% MSCI AC World Net US$ (Hedged to rand) -14,4% 5,2% 7,0% 10,0% 5
EQUITY
Peregrine Global Greats Fund Class R USD Global - Equity - General -12,7% 10,3% 12,5% 15,0% 03-Aug-12
Benchmark: MSCI World (Net) in US$ -12,7% 12,0% 13,1% 16,7% 3
Peregrine Global Multi-Strategy Equity USD Global - Equity - General -11,1% 8,9% 9,3% 7,2% 03-Jun-00
Benchmark: MSCI AC World Net US$ -13,0% 11,0% 12,1% 8,5% 1
Peregrine Global Growth Fund USD Class R Global - Equity - General -13,9% -4,0% 20-Aug-21
Benchmark: 20% ICE BofA US Treasury Index, 80% MSCI World (Net) in US$ -8,6% 0,6%
Peregrine Global Equity Feeder Fund USD Class R Global - Equity - General -4,5% 0,9% 10-Aug-21
Benchmark: MSCI AC World Net US$ -13,0% -1,7%
Peregrine Global Dividend Fund USD Class R Global - Equity - Income -3,4% 8,8% 08-Sep-21
Benchmark: MSCI World High Dividend Yield Index 1,6% 12,4%
EMERGING MARKET EQUITY
Peregrine Emerging Market Equity Fund USD R Emerging Market - Equity - General -15,3% -5,1% 02-Jun-21
Benchmark: MSCI Emerging Market Net US$ -14,8% -7,2%
EQUITY (HEDGED TO RAND)
Peregrine Global Greats Fund Class R ZAR Share Class Global - Equity - General (Hedged to rand) -16,3% 5,8% 8,9% 10,7% 06-Sep-17
Benchmark: MSCI World Net US$ (Hedged to rand) -16,6% 6,8% 8,7% 10,1% 4
Peregrine Global Multi-Strategy Equity ZAR Share Class Global - Equity - General (Hedged to rand) -11,0% -6,7% 08-Dec-21
MSCI ACWI (50% ZAR hedged) -14,6% -12,4%
PROPERTY
Peregrine Global Real Estate Fund R Class Global - Real Estate -22,5% 4,4% 8,1% 6,5% 25-Apr-15
Benchmark: MSCI World REITS Net US$ -21,0% 5,1% 9,5% 8,1%
NOTES:
  1. MSCI World (Net) in US$ before 1 April 2011.
  2. 30% FTSE WGBI, 70% MSCI AC World Net US$ before 1 September 2019.
  3. MSCI AC World Net US$ before 1 January 2018.
  4. MSCI AC World Net US$ (hedged to ZAR) prior to 1 January 2018.
  5. 30% FTSE WGBI, 70% MSCI AC World Net (hedged to US$) before 1 September 2019.
  6. 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 31 DECEMBER 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% 1,71% 0,55% 2,26% 01-Sep-16
Peregrine Capital High Growth H4 RI Hedge Fund A Class Worldwide - Multi-Strategy Hedge Fund 1,73% 4,22% 6,02% 1,79% 7,81% 02-Dec-19 2
Peregrine Capital Pure Hedge H4 RI Hedge Fund A Class Worldwide - Multi-Strategy Hedge Fund 1,15% 1,85% 3,07% 1,53% 4,60% 03-Feb-20 2
QUALIFIED INVESTOR HEDGE FUNDS
Citadel Multi-Strategy H4 QI Hedge Fund SA - Multi-Strategy Hedge Fund 1,44% 5,29% 5,66% 1,20% 6,86% 01-Nov-16 1
Peregrine Capital High Growth H4 QI Hedge Fund A Class Worldwide - Multi-Strategy Hedge Fund 2,56% 4,29% 5,60% 1,30% 6,90% 01-Dec-16 1,2
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 1,2,3
MULTI-ASSET
Citadel Balanced H4 B1 Class Fund South African - Multi Asset - High Equity 1,44% 1,62% 1,66% 0,18% 1,84% 01-Apr-11
Citadel SA Managed Volatility Equity H4 Fund South African - Multi Asset - Flexible 1,15% 1,18% 1,18% 0,14% 1,32% 02-Feb-15
Citadel Worldwide Flexible H4 Fund B3 Worldwide Multi Asset Flexible 1,44% 1,57% 1,58% 0,16% 1,74% 17-Oct-17
MULTI-ASSET (REAL RETURN SOLUTION)
H4 Stable Fund South African - Multi Asset - Low Equity 0,75% 0,83% 0,84% 0,10% 0,94% 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% 0,94% 0,14% 1,08% 22-May-13
H4 Worldwide Equity Fund Worldwide - Equity - General 0,75% 0,97% 0,96% 0,11% 1,07% 22-May-13
H4 Managed Fund South African - Multi Asset - Flexible 0,75% 0,89% 0,89% 0,12% 1,01% 21-Nov-17
EQUITY
Citadel SA Core 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% 0,95% 0,50% 1,45% 18-Jun-15
Citadel Global Equity H4 FoF Global - Equity - General 1,44% 1,69% 1,77% 0,09% 1,86% 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 October 2019 to 30 September 2022 unless stated otherwise. The TIC (Total Investment Charges) is the sum of these figures.
  1. 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.
  2.  A class fees reflected. Actual client performance fees may vary due to equalisation shares.
  3. ASISA TER (Total Expense Ratio) and TCs (Transaction Cost Ratio) have been calculated using data from 1 July 2019 to 30 June 2022.
FUND COSTS AS AT 31 DECEMBER 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% 0,04% 0,53% 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% 0,10% 1,30% 02-Sep-19
Peregrine US Bond Fund ZAR Share Class US - Interest Bearing (Hedged to rand) 0,80% 1,45% 1,39% 0,12% 1,51% 02-Sep-19
EQUITY
Peregrine Global Greats Fund Class R USD Global - Equity - General 1,25% 1,37% 1,37% 0,04% 1,41% 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% 0,04% 1,46% 06-Sep-17
Peregrine Global Multi-Strategy Equity USD Global - Equity - General 1,25% 1,64% 1,62% 0,11% 1,73% 03-Jun-00 2
Peregrine Global Multi-Strategy Equity ZAR Share Class Global - Equity - General (Hedged to rand) 1,25% 1,67% 1,67% 0,14% 1,81% 01-Dec-22 2
Peregrine Global Growth Fund USD Class R Global - Equity - General 1,25% n/a 1,36% 0,19% 1,55% 20-Aug-21
Peregrine Global Equity Feeder Fund USD Class R Global - Equity - General 1,25% n/a 1,73% 0,36% 2,09% 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 1,69% 0,49% 2,18% 02-Jun-21
MULTI-ASSET
Peregrine US Managed Volatility Equity Fund USD Class R US - Multi-Asset - Flexible 1,25% 1,48% 1,50% 0,05% 1,55% 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 1,54% 0,05% 1,59% 08-Dec-20
Peregrine Global Balanced Global - Multi Asset - High Equity 1,25% 1,65% 1,67% 0,11% 1,78% 01-Feb-11 2
Peregrine Global Balanced Fund ZAR Share Class Global - Multi Asset - High Equity (Hedged to rand) 1,25% 1,67% 1,67% 0,15% 1,82% 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 October 2019 to 30 September 2022 unless stated otherwise. The TIC (Total Investment Charges) is the sum of these figures.
  1. TER includes Performance Fees charged prior to 1 January 2018. TER excluding Performance Fees are:
    Peregrine Global Greats Fund Class R USD 1,37%.
  2. 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)

 

CITADEL BALANCED H4 FUND CITADEL GLOBAL EQUITY H4 FUND
CITADEL MULTI-STRATEGY H4 RIHF CITADEL MULTI-STRATEGY H4 QIHF
CITADEL SA CORE EQUITY H4 FUND CITADEL SA BOND H4 FUND
CITADEL SA INCOME H4 FUND CITADEL SA MONEY MARKET H4 FUND
CITADEL SA MULTI_FACTOR EQUITY H4 FUND CITADEL SA PROPERTY H4 FUND
CITADEL SA MANAGED VOLATILITY EQUITY H4 FUND CITADEL WORLDWIDE FLEXIBLE H4 FUND
H4 DIVERSIFIED FUND H4 MANAGED FUND
H4 GROWTH FUND H4 STABLE FUND
H4 WORLDWIDE EQUITY FUND PEREGRINE CAPITAL HIGH GROWTH H4 Q1
PEREGRINE CAPITAL PURE HEDGE H4 Q1 PEREGRINE ENHANCED USD CASH FUND
PEREGRINE GLOBAL BALANCED USD FUND PEREGRINE GLOBAL BALANCED ZAR FUND
PEREGRINE GLOBAL GREATS USD FUND PEREGRINE GLOBAL GREATS ZAR FUND
PEREGRINE GLOBAL REAL ESTATE FUND PEREGRINE GLOBAL MULTI-STRATEGY EQUITY USD FUND
PEREGRINE US BOND FUND ZAR PEREGRINE US BOND FUND
PEREGRINE US MANAGED VOLATILITY EQUITY ZAR FUND PEREGRINE US MANAGED VOLATILITY EQUITY USD FUND
PEREGRINE CAPITAL HIGH GROWTH H4 RI HEDGE FUND PEREGRINE CAPITAL PURE HEDGE H4 RI HEDGE FUND
PEREGRINE ENHANCED USD CASH FUND ZAR PEREGRINE GLOBAL GROWTH FUND USD CLASS R
PEREGRINE GLOBAL EQUITY FEEDER FUND USD CLASS R PEREGRINE GLOBAL DIVIDEND FUND USD CLASS R
PEREGRINE EMERGING MARKET EQUITY FUND USD R

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
PEREGRINE ENHANCED USD CASH FUND ZAR
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
PEREGRINE CAPITAL HIGH GROWTH H4 RI HEDGE FUND
PEREGRINE CAPITAL PURE HEDGE H4 RI HEDGE FUND
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 STABLE FUND
H4 DIVERSIFIED FUND
H4 GROWTH FUND
H4 MANAGED FUND B1
DOMESTIC SOLUTIONS INTERNATIONAL SOLUTIONS
 LONG-TERM GROWTH
CITADEL SA CORE EQUITY H4 FUND CITADEL GLOBAL GREATS MODEL PORTFOLIO
CITADEL SA CORE EQUITY MODEL PORTFOLIO PEREGRINE GLOBAL GREATS USD FUND
CITADEL GLOBAL EQUITY H4 FUND CITADEL GLOBAL HIGH DIVIDEND MODEL PORTFOLIO
CITADEL SA MULTI_FACTOR EQUITY H4 FUND CITADEL GLOBAL PROPERTY MODEL PORTFOLIO
CITADEL SA PROPERTY H4 FUND PEREGRINE GLOBAL GREATS ZAR FUND
CITADEL SA PROPERTY MODEL PORTFOLIO PEREGRINE GLOBAL REAL ESTATE FUND
H4 WORLDWIDE EQUITY FUND PEREGRINE GLOBAL MULTI-STRATEGY EQUITY USD FUND
PEREGRINE GLOBAL MULTI-STRATEGY EQUITY ZAR FUND PEREGRINE EMERGING MARKET EQUITY FUND USD R
CITADEL GLOBAL GROWTH MODEL PORTFOLIO
PEREGRINE GLOBAL DIVIDEND FUND USD CLASS R
PEREGRINE GLOBAL EQUITY FEEDER FUND USD CLASS R
PEREGRINE GLOBAL GROWTH FUND USD CLASS R