DOMESTIC SOLUTIONS RISK PROFILE - SECOND 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
H4 Stable Fund
H4 Diversified Fund
H4 Growth Fund

long-term growth

Citadel Global Equity H4 Fund
Citadel 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 - SECOND QUARTER 2022

income assets

PEREGRINE GLOBAL BOND FUND

capital preservation

CAM BASTION FUND
CAM PINNACLE FUND
PEREGRINE US PROTECTED EQUITY FUND

multi-asset

PEREGRINE GLOBAL BALANCED FUND

long-term growth

PEREGRINE GLOBAL MULTISTRATEGY 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 MACRO PORTFOLIO
PEREGRINE GLOBAL MACRO FUND
PEREGRINE GLOBAL REAL ESTATE FUND
CITADEL GLOBAL PROPERTY PORTFOLIO

ASSET CLASSES AND ECONOMIC DATA

PERFORMANCE AS AT 30 JUNE 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	1,0%	3,8%	4,6%	5,5%
FTSE/JSE All Bond Index	South African Bonds	-3,7%	1,3%	5,8%	7,8%
FTSE/JSE All Share Index	South African Equity	-11,7%	4,7%	8,2%	8,7%
ICE BofAML US Treasury Index	US Bonds	7,8%	4,5%	4,2%	5,4%
MSCI AC World Index (Net)	Global Equity	-5,4%	-3,3%	11,7%	11,9%
MSCI AC World High Dividend Yield Index (Net)	Global Equity (High Dividend Yielding)	1,5%	6,5%	9,7%	10,2%
MSCI Emerging Markets Index (Net)	Emerging Market Equity	-0,7%	-14,3%	5,7%	6,8%
SA CPI	South African Inflation	2,1%	7,1%	4,7%	4,6%	1
ZAR/USD		12,1%	14,7%	5,1%	4,6%
(Performance in US dollar)
FTSE/JSE All Bond Index	South African Bonds	-14,1%	-11,7%	0,6%	3,1%
ICE BofAML US Treasury Index	US Bonds	-3,8%	-8,9%	-0,8%	0,8%
FTSE/JSE All Share Index	South African Equity	-21,2%	-8,8%	2,9%	4,0%
MSCI AC World Index (Net)	Global Equity	-15,7%	-15,8%	6,2%	7,0%
MSCI AC World High Dividend Yield Index (Net)	Global Equity (High Dividend Yielding)	-9,5%	-7,2%	4,4%	5,4%
MSCI Emerging Markets Index (Net)	Emerging Market Equity	-11,4%	-25,3%	0,6%	2,2%

NOTES:

1. June 2022 CPI was not available at the time of publication and an estimate was used.

Sources: Morningstar and Refinitiv

 

PORTFOLIO PERFORMANCE

PERFORMANCE AS AT 30 JUNE 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	4,2%	5,1%	6,2%	6,4%	01-Sep-13
Benchmark: STeFI 3-month Total Return Index		3,8%	4,6%	5,5%	5,9%
Citadel SA Income H4 Fund	South African - Interest Bearing - Short Term	4,8%	5,7%	6,7%	7,1%	05-Nov-14
Benchmark: STeFI Composite Total Return Index		4,2%	5,0%	5,9%	6,3%
Citadel SA Bond H4 Fund	South African - Interest Bearing - Variable Term	0,7%	6,0%	8,0%	8,6%	08-Aug-01
Benchmark: FTSE/JSE All Bond Index		1,3%	5,8%	7,8%	9,0%
RETAIL HEDGE FUNDS
Citadel Multi-Strategy H4 RI Hedge Fund	SA - Multi-Strategy Hedge Fund	-4,1%	-10,8%	-5,2%	-3,3%	01-Sep-16
Benchmark: STeFI 3-month Total Return Index + 3%		6,9%	7,7%	8,7%	9,0%
Peregrine Capital High Growth H4 RI Hedge Fund A Class	Worldwide - Multi-Strategy Hedge Fund	7,8%			11,9%	02-Dec-19	10
Benchmark: (ASISA) South African MA High Equity		2,8%			7,2%		11
Peregrine Capital Pure Hedge H4 RI Hedge Fund A Class	Worldwide - Multi-Strategy Hedge Fund	7,4%			7,8%	03-Feb-20	10
Benchmark: (ASISA) South African MA Low Equity		3,0%			5,5%		12
QUALIFIED INVESTOR HEDGE FUNDS
Citadel Multi-Strategy H4 QI Hedge Fund	SA - Multi-Strategy Hedge Fund	7,2%	7,1%	6,6%	6,7%	01-Nov-16	9
Benchmark: STeFI 3-month Total Return Index + 3%		6,9%	7,7%	8,7%	8,9%
Peregrine Capital High Growth H4 QI Hedge Fund A Class	Worldwide - Multi-Strategy Hedge Fund	8,6%	11,1%	9,8%	10,6%	01-Dec-16	9,1
Benchmark: (ASISA) South African MA High Equity		2,8%	6,6%	6,1%	6,0%		11
Peregrine Capital Pure Hedge H4 QI Hedge Fund A Class	Worldwide - Multi-Strategy Hedge Fund	8,1%	8,6%	9,2%	9,6%	01-Dec-16	9,1
Benchmark: (ASISA) South African MA Low Equity		3,0%	5,6%	5,9%	5,9%		12
MULTI-ASSET
Citadel Balanced H4 Fund	South African - Multi Asset - High Equity	5,6%	5,7%	5,9%	8,2%	01-Apr-11
Benchmark: 5% ICE BofA US Treasury Index; 30% FTSE/JSE All Bond Index; 45% FTSE/JSE Capped All Share Index; 20% MSCI AC World Net Index		3,7%	9,0%	9,7%	10,9%		2
Citadel SA Managed Volatility Equity H4 Fund	South African - Multi Asset - Flexible	2,4%	1,8%	5,1%	5,6%	02-Feb-15	8
Benchmark: 60% FTSE/JSE Top 40, 40% STeFI Composite		4,7%	7,5%	8,3%	7,2%
Citadel Worldwide Flexible H4 Fund	Worldwide - Multi Asset - Flexible	2,3%	6,1%		5,9%	17-Oct-17
Benchmark: SA CPI +4%		11,4%	8,9%		9,0%		13
MULTI-ASSET (REAL RETURN SOLUTION)
H4 Stable Fund	South African - Multi Asset - Low Equity	4,2%	6,0%	7,5%	6,5%	01-Jul-15	1
Benchmark: SA CPI +2%		9,2%	6,8%	6,7%	7,0%		13
H4 Diversified Fund	South African - Multi Asset - High Equity	4,6%	6,9%	8,0%	7,1%	22-May-13
Benchmark: SA CPI +4%		11,4%	8,9%	8,8%	9,3%		13
H4 Growth Fund	Worldwide - Multi Asset - Flexible	2,0%	6,2%	7,9%	6,7%	22-May-13
Benchmark: SA CPI +6%		13,5%	11,0%	10,9%	11,4%		13
H4 Worldwide Equity Fund	Worldwide - Equity - General	1,3%	8,7%	9,2%	8,4%	22-May-13
Benchmark: SA CPI +7%		14,6%	12,0%	12,0%	12,4%		13
H4 Managed Fund	South African - Multi Asset - Flexible	5,1%	6,9%		5,6%	21-Nov-17	7
Benchmark: SA CPI +6%		13,5%	11,0%		11,1%		13
EQUITY
H4 Focused Wealth Fund	South African - Equity - General	6,1%	3,4%	5,1%	8,9%	06-Oct-11
Benchmark: 80% FTSE/JSE Capped Top 40 Index (J300T) , 20% STeFI Composite		7,0%	8,8%	9,0%	11,2%
Citadel SA 20/20 Equity H4 Fund	South African - Equity - General	8,1%	6,4%	6,9%	6,5%	09-May-17
Benchmark: FTSE/JSE Capped Top 40 Index (J300T)		7,3%	9,2%	9,6%	8,6%		3
Citadel SA Multi-Factor Equity H4 Fund	South African - Equity - General	5,8%	7,0%	9,0%	5,8%	18-Jun-15
Benchmark: FTSE/JSE Capped All Share Index (J303T)		6,8%	9,0%	9,0%	7,2%		4
Citadel Global Equity H4 FoF	Global - Equity - General	-3,5%	9,8%	9,7%	8,5%	06-Nov-02
Benchmark: MSCI AC World Net (in rand)		-3,3%	11,7%	11,9%	10,3%		5
PROPERTY
Citadel SA Property H4 Fund	South African - Real Estate - General	0,3%	-9,4%	-8,2%	-2,7%	10-Dec-14
Benchmark: FTSE/JSE All Property Index		-0,1%	-9,2%	-7,7%	-2,4%		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 changed from 1 September 2019.
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. 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.
10. A class returns reflected – actual client returns may vary due to equalisation shares.
11. 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.
12. 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.
13. June 2022 CPI was not available at the time of publication and an estimate was used.

 

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.

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 April 2019 to 31 March 2022 unless stated otherwise. The TIC (Total Investment Charges) is the sum of these figures.

1. 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.
2. 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.
3. A class fees reflected. Actual client performance fees may vary due to equalisation shares.

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 April 2019 to 31 March 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)