income assets
CITADEL SA MONEY MARKET H4 FUNDCITADEL SA INCOME H4 FUND
CITADEL SA BOND H4 FUND
MESSAGE FROM CAM
REBUILDING THE GLOBAL POWER-PUZZLE: A rise in geopolitical risk
ECONOMIC OUTLOOK
GLOBAL CHILL SET TO CONTINUE, BUT IT SHOULD BE A MILD WINTER
UPDATE
FUND PERFORMANCE
DISCLAIMER
FEEDBACK
Estimated reading time: 10 minutes read
DOMESTIC SOLUTIONS RISK PROFILE -THIRD QUARTER 2023
CITADEL SA INCOME H4 FUND
CITADEL SA BOND H4 FUND
capital preservation
CITADEL SA MULTI-STRATEGY H4 QIHFCITADEL SA MANAGED VOLATILITY H4 FUND
multi-asset
H4 STABLE FUNDH4 DIVERSIFIED FUND
H4 GROWTH FUND
H4 MANAGED FUND
CITADEL BALANCED H4 FUND
CITADEL WORLDWIDE FLEXIBLE H4 FUND
H4 WORLDWIDE EQUITY FUND
long-term growth
CITADEL GLOBAL EQUITY H4 FUNDCITADEL SA MULTI-FACTOR EQUITY H4 FUND
CITADEL SA CORE EQUITY H4 FUND
CITADEL SA PROPERTY H4 FUND
INTERNATIONAL SOLUTION RISK PROFILE - THIRD QUARTER 2023
income assets
PEREGRINE US BOND FUNDPEREGRINE ENHANCED USD CASH FUND
capital preservation
CAM BASTION DOLLAR FUNDCAM BASTION RAND FUND
PEREGRINE US MANAGED VOLATILITY FUND
multi-asset
PEREGRINE GLOBAL BALANCED FUNDPEREGRINE GLOBAL LOW EQUITY FUND
PEREGRINE GLOBAL MEDIUM EQUITY FUND
PEREGRINE GLOBAL HIGH EQUITY FUND
long-term growth
PEREGRINE GLOBAL MULTI-STRATEGY EQUITY FUNDPEREGRINE EMERGING MARKET EQUITY FUND
PEREGRINE GLOBAL GREATS FUND
PEREGRINE GLOBAL DIVIDEND FUND
PEREGRINE GLOBAL GROWTH FUND
PEREGRINE GLOBAL REAL ESTATE FUND
PEREGRINE GLOBAL EQUITY FEEDER FUND
ASSET CLASSES AND ECONOMIC DATA
| PERFORMANCE AS AT 30 SEPTEMBER 2023 (%) | 3 MONTHS | 1 YEAR | 3 YEARS | 5 YEARS | NOTES | |
| RETURNS FOR PERIODS LONGER THAN 1 YEAR ARE ANNUALISED | ||||||
| ASSET CLASSES AND ECONOMIC DATA | ||||||
| (Performance in rand) | ||||||
| STeFI 3-month Total Return Index | South African Money Market | 2,0% | 7,3% | 5,0% | 5,5% | |
| FTSE/JSE All Bond Index | South African Bonds | -0,4% | 7,2% | 7,0% | 7,2% | |
| FTSE/JSE All Share Index | South African Equity | -3,5% | 17,7% | 14,5% | 9,3% | |
| ICE BofAML US Treasury Index | US Bonds | -3,6% | 3,7% | -2,2% | 5,7% | |
| MSCI AC World Index (Net) | Global Equity | -3,7% | 26,6% | 11,3% | 12,7% | |
| MSCI AC World High Dividend Yield Index (Net) | Global Equity (High Dividend Yielding) | -1,7% | 22,0% | 11,6% | 10,7% | |
| MSCI Emerging Markets Index (Net) | Emerging Market Equity | -3,2% | 17,1% | 2,3% | 6,5% | |
| SA CPI | South African Inflation | 1,9% | 5,5% | 6,0% | 5,0% | 1 |
| ZAR/USD | -0,3% | 4,8% | 4,1% | 5,9% | ||
| (Performance in US dollar) | ||||||
| FTSE/JSE All Bond Index | South African Bonds | -0,1% | 2,3% | 2,7% | 1,2% | |
| ICE BofAML US Treasury Index | US Bonds | -3,3% | -1,1% | -6,1% | -0,1% | |
| FTSE/JSE All Share Index | South African Equity | -3,2% | 12,3% | 10,0% | 3,2% | |
| MSCI AC World Index (Net) | Global Equity | -3,4% | 20,8% | 6,9% | 6,5% | |
| MSCI AC World High Dividend Yield Index (Net) | Global Equity (High Dividend Yielding) | -1,5% | 16,3% | 7,1% | 4,5% | |
| MSCI Emerging Markets Index (Net) | Emerging Market Equity | -2,9% | 11,7% | -1,7% | 0,6% |
NOTES:
- September 2023 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.
- The fund’s benchmark was changed with effect 1 June 2022.
- 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 the 1 March 2021.
- SA Protected Equity prior to name change on 1 April 2021.
- Citadel SA 20/20 Equity H4 Fund prior to name change on the 1st of December 2022.
- 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.
- September 2023 CPI was not available at the time of publication and an estimate was used.
- The fund’s benchmark was changed with effect 1 August 2023.
- 30 September 2023 price not available at time of publication. Performance calculated up to 31 August 2023.
NOTES:
- MSCI World (Net) in US$ before 1 April 2011.
- Composite benchmark before 1 July 2023.
- MSCI AC World Net US$ before 1 January 2018.
- MSCI AC World Net US$ (hedged to ZAR) prior to 1 January 2018.
- Peregrine US Protected Equity Fund prior to name change on the 1st of December 2020.
- MSCI World REITS Net US$ before 1 July 2023.
NOTES:
- MSCI World (Net) in US$ before 1 April 2011.
- Composite benchmark before 1 July 2023.
- MSCI AC World Net US$ before 1 January 2018.
- MSCI AC World Net US$ (hedged to ZAR) prior to 1 January 2018.
- Peregrine US Protected Equity Fund prior to name change on the 1st of December 2020.
- MSCI World REITS Net US$ before 1 July 2023.
GENERAL DISCLAIMER AVAILABLE FROM NIKKI KLERCK (nikkik@citadel.co.za)
| FUND COSTS AS AT 30 SEPTEMBER 2023 | 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% | 0,56% | 0,55% | 0,00% | 0,55% | 01-Sep-2013 | |
| 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-2014 | |
| Citadel SA Bond H4 B1 Class Fund | South African - Interest Bearing - Variable Term | 0,86% | 0,88% | 0,88% | 0,03% | 0,91% | 08-Aug-2001 | |
| QUALIFIED INVESTOR HEDGE FUNDS | ||||||||
| Citadel Multi-Strategy H4 QI Hedge Fund | South African - Multi-Strategy Hedge Fund | 1,44% | 6,20% | 5,70% | 1,19% | 6,89% | 01-Nov-2016 | 1 |
| MULTI-ASSET | ||||||||
| Citadel Balanced H4 B1 Class Fund | South African - Multi Asset - High Equity | 1,44% | 1,56% | 1,59% | 0,20% | 1,79% | 01-Apr-2011 | |
| Citadel SA Managed Volatility Equity H4 Fund | South African - Multi Asset - Flexible | 1,15% | 1,18% | 1,18% | 0,14% | 1,32% | 02-Feb-2015 | |
| Citadel Worldwide Flexible H4 Fund B3 | Worldwide Multi Asset Flexible | 1,44% | 1,53% | 1,56% | 0,19% | 1,75% | 17-Oct-2017 | |
| MULTI-ASSET (REAL RETURN SOLUTION) | ||||||||
| H4 Stable Fund | South African - Multi Asset - Low Equity | 0,75% | 0,82% | 0,83% | 0,10% | 0,93% | 01-Jul-2015 | |
| H4 Diversified Fund | South African - Multi Asset - High Equity | 0,75% | 0,85% | 0,85% | 0,13% | 0,98% | 22-May-2013 | |
| H4 Growth Fund | Worldwide - Multi Asset - Flexible | 0,75% | 0,96% | 0,95% | 0,14% | 1,09% | 22-May-2013 | |
| H4 Worldwide Equity Fund | Worldwide - Equity - General | 0,75% | 0,98% | 0,97% | 0,12% | 1,09% | 22-May-2013 | |
| H4 Managed Fund | South African - Multi Asset - Flexible | 0,75% | 0,87% | 0,89% | 0,12% | 1,01% | 21-Nov-2017 | |
| EQUITY | ||||||||
| Citadel SA Core Equity H4 B1 Class Fund | South African - Equity - Large Cap | 1,15% | 1,17% | 1,17% | 0,13% | 1,30% | 09-May-2017 | 2 |
| 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-2015 | |
| Citadel Global Equity H4 FoF | Global - Equity - General | 1,44% | 1,64% | 1,69% | 0,09% | 1,78% | 06-Nov-2002 | |
| PROPERTY | ||||||||
| Citadel SA Property H4 B1 Class Fund | South African - Real Estate - General | 1,15% | 1,20% | 1,19% | 0,05% | 1,24% | 10-Dec-2014 |
NOTES:
FY TERs (Total Expense Ratio as at Financial Year-end) have been calculated using data from 1 April 2022 to 31 March 2023 unless stated otherwise.
ASISA TER (Total Expense Ratio) and TCs (Transaction Cost Ratio) have been calculated using data from 1 July 2020 to 30 June 2023 unless stated otherwise. The TIC (Total Investment Charges) is the sum of these figures.
ASISA TER (Total Expense Ratio) and TCs (Transaction Cost Ratio) have been calculated using data from 1 July 2020 to 30 June 2023 unless stated otherwise. The TIC (Total Investment Charges) is the sum of these figures.
- 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.
- The ASISA Fund Classification was corrected from “South African – Equity – General” to “South African – Equity – Large Cap”.
| FUND COSTS AS AT 30 SEPTEMBER 2023 | 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% | 0,50% | 0,49% | 0,04% | 0,53% | 25-Jul-2019 | |
| Peregrine Enhanced USD Cash Fund ZAR Share Class | US - Interest Bearing - Short Term (Hedged to rand) | 0,35% | 0,53% | 0,50% | 0,04% | 0,54% | 22-Jul-2020 | |
| Peregrine US Bond Fund USD Share Class | US - Interest Bearing | 0,60% | 1,13% | 1,18% | 0,07% | 1,25% | 02-Sep-2019 | |
| Peregrine US Bond Fund ZAR Share Class | US - Interest Bearing (Hedged to rand) | 0,80% | 1,34% | 1,40% | 0,07% | 1,47% | 02-Sep-2019 | |
| ALTERNATIVE | ||||||||
| CAM Bastion Dollar Fund | Global - Hedge Fund | 1,25% | 1,77% | 1,73% | 0,49% | 2,22% | 01-Sep-2020 | 1 |
| CAM Bastion Rand Fund | Global - Hedge Fund (Hedged to rand) | 1,25% | 1,82% | 1,78% | 0,49% | 2,27% | 01-Sep-2020 | 1 |
| Peregrine US Managed Volatility Equity Fund USD Class R | US - Multi-Asset - Flexible | 1,25% | 1,47% | 1,50% | 0,05% | 1,55% | 27-Oct-2016 | |
| Peregrine US Managed Volatility Equity Fund Class R ZAR Share Class | US - Multi-Asset - Flexible (Hedged to rand) | 1,25% | 1,48% | 1,54% | 0,05% | 1,59% | 08-Dec-2020 | |
| EQUITY | ||||||||
| Peregrine Global Greats Fund Class R USD | Global - Equity - General | 1,25% | 1,37% | 1,37% | 0,03% | 1,40% | 03-Aug-2012 | |
| Peregrine Global Greats Fund Class R ZAR Share Class | Global - Equity - General (Hedged to rand) | 1,25% | 1,41% | 1,42% | 0,03% | 1,45% | 06-Sep-2017 | |
| Peregrine Global Multi-Strategy Equity USD | Global - Equity - General | 1,25% | 1,64% | 1,64% | 0,11% | 1,75% | 03-Jun-2000 | 1 |
| Peregrine Global Multi-Strategy Equity ZAR Share Class | Global - Equity - General (Hedged to rand) | 1,25% | 1,76% | 1,67% | 0,11% | 1,78% | 01-Dec-2022 | 1 |
| Peregrine Global Growth Fund USD Class R | Global - Equity - General | 1,25% | 1,38% | 1,37% | 0,13% | 1,50% | 20-Aug-2021 | |
| Peregrine Global Equity Feeder Fund USD Class R | Global - Equity - General | 1,25% | 1,78% | 1,72% | 0,35% | 2,07% | 10-Aug-2021 | |
| Peregrine Global Dividend Fund USD Class R | Global - Equity - Income | 1,25% | 1,39% | 1,37% | 0,10% | 1,47% | 08-Sep-2021 | |
| EMERGING MARKET EQUITY | ||||||||
| Peregrine Emerging Market Equity Fund USD R | Emerging Market - Equity - General | 1,25% | 1,72% | 1,71% | 0,46% | 2,17% | 02-Jun-2021 | |
| MULTI-ASSET | ||||||||
| Peregrine Global Balanced | Global - Multi Asset - High Equity | 1,25% | 1,69% | 1,67% | 0,09% | 1,76% | 01-Feb-2011 | 1 |
| Peregrine Global Balanced Fund ZAR Share Class | Global - Multi Asset - High Equity (Hedged to rand) | 1,25% | 1,80% | 1,71% | 0,09% | 1,80% | 01-Jul-2011 | 1 |
| Peregrine Global High Equity Fund Class R USD | Global - Multi Asset - High Equity | 0,85% | n/a | 1,10% | 0,14% | 1,24% | 14-Apr-2022 | |
| Peregrine Global Medium Equity Fund Class R USD | Global - Multi Asset - Medium Equity | 0,80% | n/a | 1,04% | 0,26% | 1,30% | 26-Apr-2022 | |
| Peregrine Global Low Equity Fund Class R USD | Global - Multi Asset - Low Equity | 0,75% | n/a | 0,95% | 0,44% | 1,39% | 26-Apr-2022 | 1 |
| PROPERTY | ||||||||
| Peregrine Global Real Estate Fund R Class | Global - Real Estate | 1,25% | 1,42% | 1,45% | 0,07% | 1,52% | 25-Apr-2015 |
NOTES:
FY TERs (Total Expense Ratio as at Financial Year-end) have been calculated using data from 1 January 2022 to 31 December 2022 unless stated otherwise.
ASISA TER (Total Expense Ratio) and TCs (Transaction Cost Ratio) have been calculated using data from 1 July 2020 to 30 June 2023 unless stated otherwise. The TIC (Total Investment Charges) is the sum of these figures.
ASISA TER (Total Expense Ratio) and TCs (Transaction Cost Ratio) have been calculated using data from 1 July 2020 to 30 June 2023 unless stated otherwise. The TIC (Total Investment Charges) is the sum of these figures.
- 1. FY TERs (Total Expense Ratio as at Financial Year-end) have been calculated using data from 1 April 2022 to 31 March 2023.
GENERAL DISCLAIMER AVAILABLE FROM NIKKI KLERCK (nikkik@citadel.co.za)
ROLLING ONE YEAR RETURNS
ONE YEAR ROLLING PERFORMANCE FROM INCEPTION (CLICK TO VIEW)