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Citation - Third Quarter 2024

FUND PERFORMANCE

Third quarter 2024


Estimated reading time: 10 minutes

DOMESTIC SOLUTIONS RISK PROFILE - THIRD QUARTER 2024

income assets

CITADEL SA MONEY MARKET H4 FUND
CITADEL SA INCOME H4 FUND
CITADEL SA BOND H4 FUND

capital preservation

CITADEL MULTI-STRATEGY H4 QIHF
CITADEL WORLDWIDE MULTI-STRATEGY H4 RIHF

multi-asset

H4 STABLE FUND
H4 DIVERSIFIED FUND
H4 GROWTH FUND
CITADEL BALANCED H4 FUND
CITADEL WORLDWIDE FLEXIBLE H4 FUND
CITADEL SA MANAGED VOLATILITY EQUITY H4 FUND

long-term growth

CITADEL GLOBAL EQUITY H4 FOF
CITADEL SA MULTI-FACTOR EQUITY H4 FUND
CITADEL SA CORE EQUITY H4 FUND
CITADEL SA PROPERTY H4 FUND
H4 WORLDWIDE EQUITY FUND

INTERNATIONAL SOLUTION RISK PROFILE - THIRD QUARTER 2024

income assets

PEREGRINE US BOND FUND
PEREGRINE USD SHORT DURATION FUND

capital preservation

CAM BASTION FUND

multi-asset

PEREGRINE GLOBAL BALANCED FUND
PEREGRINE GLOBAL LOW EQUITY FUND
PEREGRINE GLOBAL MEDIUM EQUITY FUND
PEREGRINE GLOBAL HIGH EQUITY FUND
PEREGRINE US MANAGED VOLATILITY EQUITY FUND

long-term growth

PEREGRINE GLOBAL MULTI-STRATEGY EQUITY FUND
PEREGRINE 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 2024 (%) 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 2,1% 8,3% 6,6% 5,8%
FTSE/JSE All Bond Index South African Bonds 10,6% 26,2% 11,1% 9,8%
FTSE/JSE All Share Index South African Equity 9,6% 23,9% 14,7% 13,7%
ICE BofAML US Treasury Index US Bonds -1,0% 0,6% 2,7% 2,3%
MSCI AC World Index (Net) Global Equity 0,6% 20,5% 13,1% 15,1%
MSCI AC World High Dividend Yield Index (Net) Global Equity (High Dividend Yielding) 3,5% 11,6% 12,0% 10,6%
MSCI Emerging Markets Index (Net) Emerging Market Equity 2,6% 15,3% 5,0% 8,5%
SA CPI South African Inflation 0,6% 3,8% 5,6% 4,9% 1
ZAR/USD -5,6% -8,5% 4,6% 2,6%
(Performance in US dollar)
FTSE/JSE All Bond Index South African Bonds 17,2% 37,9% 6,2% 7,1%
ICE BofAML US Treasury Index US Bonds 4,9% 9,9% -1,9% -0,3%
FTSE/JSE All Share Index South African Equity 16,1% 35,5% 9,7% 10,8%
MSCI AC World Index (Net) Global Equity 6,6% 31,8% 8,1% 12,2%
MSCI AC World High Dividend Yield Index (Net) Global Equity (High Dividend Yielding) 9,7% 22,1% 7,1% 7,8%
MSCI Emerging Markets Index (Net) Emerging Market Equity 8,7% 26,1% 0,4% 5,7%
NOTES:
  1. September 2024 CPI was not available at the time of publication and an estimate was used.

Sources: Morningstar and Refinitiv

PERFORMANCE AS AT 30 SEPTEMBER 2024 (%) 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)
FIXED INCOME
Citadel SA Money Market H4 Fund South African - Fixed Income - Money Market 8,7% 7,1% 6,3% 6,7% 01-Sep-2013
Benchmark: STeFI 3-month Total Return Index 8,3% 6,6% 5,8% 6,2%
Citadel SA Income H4 Fund South African - Fixed Income - Short Term 9,7% 7,7% 6,9% 7,4% 05-Nov-2014
Benchmark: STeFI Composite Total Return Index 8,5% 6,9% 6,1% 6,6%
Citadel SA Bond H4 Fund South African - Fixed Income - Variable Term 23,1% 9,9% 9,2% 9,0% 08-Aug-2001
Benchmark: FTSE/JSE All Bond Index 26,14% 11,1% 9,8% 9,5%
RETAIL HEDGE FUNDS
Citadel Worldwide Multi-Strategy H4 Retail Hedge Fund B Worldwide - Multi-Strategy Hedge Fund 8,5% 10,1% 14-Jun-2023
Benchmark: 50% SA Cash; 50% US Cash (hedged to ZAR) 8,3% 8,3%
QUALIFIED INVESTOR HEDGE FUNDS
Citadel Multi-Strategy H4 QI Hedge Fund South African - Multi-Strategy Hedge Fund 20,3% 14,1% 11,7% 9,3% 01-Nov-2016 9
Benchmark: STeFI 3-month Total Return Index + 3% 11,5% 9,8% 8,9% 9,4%
MULTI-ASSET
Citadel Balanced H4 Fund South African - Multi Asset - High Equity 12,7% 11,7% 9,6% 9,2% 01-Apr-2011
Benchmark: (ASISA) South African MA High Equity Peer Group Average 18,7% 10,4% 10,2% 8,9% 2
Citadel SA Managed Volatility Equity H4 Fund South African - Multi Asset - Flexible 18,3% 12,3% 8,0% 8,0% 02-Feb-2015 7
Benchmark: 60% FTSE/JSE Top 40; 40% STeFI Composite 16,7% 11,9% 11,1% 8,6%
Citadel Worldwide Flexible H4 Fund Worldwide - Multi Asset - Flexible 13,7% 11,8% 10,4% 9,1% 17-Oct-2017
Benchmark: (ASISA) Wwide MA Flexible Peer Group Average 15,6% 8,8% 9,8% 8,1% 10
H4 Stable Fund South African - Multi Asset - Low Equity 16,9% 10,7% 9,3% 8,2% 01-Jul-2015 1
Benchmark: (ASISA) South African MA Low Equity Peer Group Average 16,4% 9,3% 8,5% 7,2% 10
H4 Diversified Fund South African - Multi Asset - High Equity 16,9% 11,8% 10,7% 8,6% 22-May-2013
Benchmark: (ASISA) South African MA High Equity Peer Group Average 18,7% 10,4% 10,2% 8,0% 10
H4 Growth Fund Worldwide - Multi Asset - Flexible 14,8% 11,7% 10,9% 8,6% 22-May-2013
Benchmark: (ASISA) Wwide MA Flexible Peer Group Average 15,6% 8,8% 9,8% 9,2% 10
EQUITY
Citadel SA Core Equity H4 Fund South African - Equity - Large Cap 17,1% 12,9% 11,5% 8,5% 09-May-2017 8
Benchmark: FTSE/JSE Capped Top 40 Index (J300T) 21,6% 13,8% 14,0% 10,7% 3
Citadel SA Multi-Factor Equity H4 Fund South African - Equity - General 20,6% 13,0% 12,2% 7,9% 18-Jun-2015
Benchmark: FTSE/JSE Capped All Share Index (J303T) 24,0% 14,5% 14,1% 9,4% 4
Citadel Global Equity H4 FoF Global - Equity - General 16,8% 11,3% 12,7% 9,6% 06-Nov-2002
Benchmark: (ASISA) Global EQ General Peer Group Average 16,1% 9,0% 12,1% 9,4% 5
H4 Worldwide Equity Fund Worldwide - Equity - General 17,3% 12,6% 13,1% 10,3% 22-May-2013
Benchmark: 35% (ASISA) SA Equity General Peer Group Average; 65% (ASISA) Global - Equity - General Peer Group Average 18,4% 10,3% 12,4% 11,2% 10
PROPERTY
Citadel SA Property H4 Fund South African - Real Estate - General 46,2% 13,3% 4,0% 2,4% 10-Dec-2014
Benchmark: FTSE/JSE All Property Index 51,0% 15,3% 5,1% 3,2% 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. The fund’s benchmark was changed with effect 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. The fund’s benchmark was changed with effect 1 April 2024.
  6. FTSE/JSE Listed Property Index prior to 1 May 2019.
  7. SA Protected Equity prior to name change on 1 April 2021.
  8. Citadel SA 20/20 Equity H4 Fund prior to name change on the 1st of December 2022.
  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. The fund’s benchmark was changed with effect 1 August 2023.
USD PERFORMANCE AS AT 30 SEPTEMBER 2024 (%) 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)
FIXED INCOME
Peregrine USD Short Duration Fund US - Fixed Income - Short Term 5,8% 3,0% 2,1% 2,1% 25-Jul-2019 5
Benchmark: ICE BofA 3M US Treasury Bill Index 5,5% 3,5% 2,3% 2,3%
Peregrine US Bond Fund USD Share Class US - Fixed Income 10,3% -2,2% -0,7% -0,9% 02-Sep-2019
Benchmark: ICE BofA US Treasury Index 9,9% -1,9% -0,3% -0,5%
HEDGE FUNDS
CAM Bastion Dollar Fund Global - Hedge Fund 14,5% 4,8% 0,6% 01-Sep-2020
Benchmark: US Cash + 1,75% 7,4% 5,5% 4,5%
MULTI-ASSET
Peregrine US Managed Volatility Equity Fund USD Class R US - Multi-Asset - Flexible 20,4% 7,0% 7,4% 6,8% 27-Oct-2016 4
Benchmark: 60% S&P 500; 40% USD Overnight Cash 23,0% 8,6% 10,4% 9,8%
Peregrine Global Balanced Global - Multi Asset - High Equity 20,9% 4,0% 6,6% 5,0% 01-Feb-2011
Benchmark: (Morningstar) EAA Fund USD Aggressive Allocation Peer Group Average 20,0% 3,4% 6,7% 4,9% 2
Peregrine Global High Equity Fund Class R USD Global - Multi Asset - High Equity 24,9% 7,9% 14-Apr-2022
Benchmark: (Morningstar) EAA Fund USD Aggressive Allocation Peer Group Average 20,0% 5,6%
Peregrine Global Medium Equity Fund Class R USD Global - Multi Asset - Medium Equity 20,7% 7,3% 26-Apr-2022
Benchmark: (Morningstar) EAA Fund USD Moderate Allocation Peer Group Average 17,4% 5,2%
Peregrine Global Low Equity Fund Class R USD Global - Multi Asset - Low Equity 15,7% 4,4% 26-Apr-2022
Benchmark: (Morningstar) EAA Fund USD Cautious Allocation Peer Group Average 12,7% 3,6%
EQUITY
Peregrine Global Greats Fund Class R USD Global - Equity - Large-Cap Blend 30,3% 8,4% 11,4% 9,5% 03-Aug-2012
Benchmark: MSCI World (Net) in US$ 32,4% 9,1% 13,0% 11,2% 3
Peregrine Global Multi-Strategy Equity USD Global - Equity - Large-Cap Blend 28,8% 6,9% 9,7% 4,1% 03-Jun-2000
Benchmark: MSCI AC World Net US$ 31,8% 8,1% 12,2% 5,6% 1
Peregrine Global Growth Fund USD Class R Global - Equity - Large-Cap Growth 29,2% 8,3% 6,9% 20-Aug-2021
Benchmark: 20% ICE BofA US Treasury Index; 80% MSCI World (Net) in US$ 26,7% 8,2% 7,4%
Peregrine Global Equity Feeder Fund USD Class R Global - Equity - Large-Cap Growth 33,9% 8,2% 7,0% 10-Aug-2021
Benchmark: MSCI AC World Net US$ 31,8% 8,1% 6,8%
Peregrine Global Dividend Fund USD Class R Global - Equity - Income 22,4% 6,4% 4,3% 08-Sep-2021
Benchmark: MSCI World High Dividend Yield Index 22,6% 8,4% 6,9%
EMERGING MARKET EQUITY
Peregrine Emerging Market Equity Fund USD R Global - Equity - Emerging Market 25,3% 0,4% -1,5% 02-Jun-2021
Benchmark: MSCI Emerging Market Net US$ 26,1% 0,4% -2,4%
PROPERTY
Peregrine Global Real Estate Fund R Class Global - Real Estate 27,3% -0,4% 2,1% 3,4% 25-Apr-2015
Benchmark: (Morningstar) EAA Fund Property - Indirect Global Peer Group Average 28,0% -0,9% 1,4% 2,4% 2
GENERAL DISCLAIMER AVAILABLE FROM NIKKI KLERCK (nikkik@citadel.co.za)
NOTES:
  1. MSCI World (Net) in US$ before 1 April 2011.
  2. The fund’s benchmark was changed with effect 1 August 2023.
  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.
  5. Peregrine Enhanced USD Cash Fund prior to name change on the 8th of January 2024.
ZAR PERFORMANCE AS AT 30 SEPTEMBER 2024 (%) 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)
FIXED INCOME
Peregrine USD Short Duration Fund US - Fixed Income - Short Term -3,2% 7,7% 4,7% 6,4% 25-Jul-2019 6
Benchmark: ICE BofA 3M US Treasury Bill Index -3,5% 8,3% 5,0% 6,7%
Peregrine US Bond Fund USD Share Class US - Fixed Income 0,9% 2,3% 1,9% 1,6% 02-Sep-2019
Benchmark: ICE BofA US Treasury Index 0,6% 2,7% 2,3% 2,0%
FIXED INCOME (HEDGED TO RAND)
Peregrine USD Short Duration Fund ZAR Share Class US - Fixed Income - Short Term (Hedged to rand) 8,5% 6,4% 6,1% 22-Jul-2020 6
Benchmark: ICE BofA 3M US Treasury Bill Index (Hedged to rand) 8,3% 6,9% 6,2%
Peregrine US Bond Fund ZAR Share Class US - Fixed Income (Hedged to rand) 6,5% 3,5% 4,2% 4,0% 02-Sep-2019
Benchmark: ICE BofA US Treasury Index (50% Hedged to rand) 6,5% 2,1% 3,1% 2,9%
HEDGE FUNDS
CAM Bastion Dollar Fund Global - Hedge Fund 4,7% 9,7% 1,0% 01-Sep-2020
Benchmark: US Cash + 1,75% -1,7% 10,3% 4,9%
HEDGE FUNDS (HEDGED TO RAND)
CAM Bastion Rand Fund Global - Hedge Fund (Hedged to Rand) 17,5% 12,5% 7,4% 01-Sep-2020
Benchmark: US Cash + 1,75% (Hedged to rand) 10,3% 8,9% 8,2%
MULTI-ASSET
Peregrine US Managed Volatility Equity Fund USD Class R US - Multi-Asset - Flexible 10,2% 11,9% 10,2% 9,7% 27-Oct-2016 5
Benchmark: 60% S&P 500; 40% ICE BofA SOFR Index 12,5% 13,6% 13,3% 12,9%
Peregrine Global Balanced Global - Multi Asset - High Equity 10,6% 8,9% 9,3% 12,0% 01-Feb-2011
Benchmark: (Morningstar) EAA Fund USD Aggressive Allocation Peer Group Average 9,8% 8,2% 9,5% 11,8% 2
Peregrine Global High Equity Fund Class R USD Global - Multi Asset - High Equity 14,2% 15,5% 14-Apr-2022
Benchmark: (Morningstar) EAA Fund USD Aggressive Allocation Peer Group Average 9,8% 13,1%
Peregrine Global Medium Equity Fund Class R USD Global - Multi Asset - Medium Equity 10,4% 11,4% 26-Apr-2022
Benchmark: (Morningstar) EAA Fund USD Moderate Allocation Peer Group Average 7,4% 9,2%
Peregrine Global Low Equity Fund Class R USD Global - Multi Asset - Low Equity 5,8% 8,3% 26-Apr-2022
Benchmark: (Morningstar) EAA Fund USD Cautious Allocation Peer Group Average 3,0% 7,5%
MULTI-ASSET (HEDGED TO RAND)
Peregrine US Managed Volatility Equity Fund Class R ZAR Share Class US - Multi-Asset - Flexible (Hedged to rand) 16,6% 13,3% 14,4% 01-Dec-2020
Benchmark: 60% S&P 500; 40% ICE BofA SOFR Index (50% Hedged to rand) 19,5% 13,2% 13,6%
Peregrine Global Balanced Fund ZAR Share Class Global - Multi Asset - High Equity (Hedged to rand) 24,0% 7,5% 10,2% 9,9% 01-Jul-2011
Benchmark: (Morningstar) EAA Fund USD Aggressive Allocation Peer Group Average (ZAR hedged) 23,0% 6,1% 9,3% 8,7% 2
EQUITY
Peregrine Global Greats Fund Class R USD Global - Equity - Large-Cap Blend 19,1% 13,4% 14,3% 16,2% 03-Aug-2012
Benchmark: MSCI World (Net) in US$ 21,1% 14,1% 16,0% 18,0% 3
Peregrine Global Multi-Strategy Equity USD Global - Equity - Large-Cap Blend 17,8% 11,8% 12,5% 8,1% 03-Jun-2000
Benchmark: MSCI AC World Net US$ 20,5% 13,1% 15,1% 9,6% 1
Peregrine Global Growth Fund USD Class R Global - Equity - Large-Cap Growth 18,2% 13,4% 11,4% 20-Aug-2021
Benchmark: 20% ICE BofA US Treasury Index; 80% MSCI World (Net) in US$ 15,9% 13,2% 11,9%
Peregrine Global Equity Feeder Fund USD Class R Global - Equity - Large-Cap Growth 22,5% 13,2% 12,3% 10-Aug-2021
Benchmark: MSCI AC World Net US$ 20,5% 13,1% 12,1%
Peregrine Global Dividend Fund USD Class R Global - Equity - Income 11,9% 11,3% 10,8% 08-Sep-2021
Benchmark: MSCI World High Dividend Yield Index 12,1% 13,4% 13,6%
EMERGING MARKET EQUITY
Peregrine Emerging Market Equity Fund USD R Global - Equity - Emerging Market 14,6% 5,1% 5,4% 02-Jun-2021
Benchmark: MSCI Emerging Market Net US$ 15,3% 5,0% 4,4%
EQUITY (HEDGED TO RAND)
Peregrine Global Greats Fund Class R ZAR Share Class Global - Equity - Large-Cap Blend (Hedged to rand) 33,2% 11,1% 14,3% 14,3% 06-Sep-2017
Benchmark: MSCI World Net US$ (Hedged to rand) 35,6% 11,6% 15,3% 14,2% 4
Peregrine Global Multi-Strategy Equity ZAR Share Class Global - Equity - Large-Cap Blend (Hedged to rand) 24,6% 11,1% 08-Dec-2021
MSCI ACWI (50% ZAR hedged) 27,6% 9,6%
PROPERTY
Peregrine Global Real Estate Fund R Class Global - Real Estate 16,5% 4,2% 4,8% 7,3% 25-Apr-2015
Benchmark: (Morningstar) EAA Fund Property - Indirect Global Peer Group Average 17,0% 3,7% 4,0% 6,3% 2
NOTES:
  1.  MSCI World (Net) in US$ before 1 April 2011.
  2. The fund’s benchmark was changed with effect 1 August 2023.
  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. Peregrine US Protected Equity Fund prior to name change on the 1st of December 2020.
  6. Peregrine Enhanced USD Cash Fund prior to name change on the 8th of January 2024.
FUND COSTS AS AT 30 SEPTEMBER 2024 AMF (incl, VAT) FY TER ASISA TER TC TIC INCEPTION DATE NOTES
DOMESTIC UNIT TRUSTS AND HEDGE FUNDS
FIXED INCOME
Citadel SA Money Market H4 B1 Class Fund South African - Fixed Income - Money Market 0,52% 0,56% 0,56% 0,00% 0,56% 01-Sep-2013
Citadel SA Income H4 B1 Class Fund South African - Fixed Income - Short Term 0,58% 0,59% 0,59% 0,00% 0,59% 05-Nov-2014
Citadel SA Bond H4 B1 Class Fund South African - Fixed Income - Variable Term 0,86% 0,88% 0,88% 0,04% 0,92% 08-Aug-2001
RETAIL HEDGE FUNDS
Citadel Worldwide Multi-Strategy H4 Retail Hedge Fund B Worldwide - Multi-Strategy Hedge Fund 1,44% 1,89% 1,82% 0,37% 2,19% 14-Jun-2023 3
QUALIFIED INVESTOR HEDGE FUNDS
Citadel Multi-Strategy H4 QI Hedge Fund South African - Multi-Strategy Hedge Fund 1,44% 5,06% 5,18% 1,14% 6,32% 01-Nov-2016 1,2,3
MULTI-ASSET
Citadel Balanced H4 B1 Class Fund South African - Multi Asset - High Equity 1,44% 1,56% 1,56% 0,27% 1,83% 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% 1,54% 0,20% 1,74% 17-Oct-2017
H4 Stable Fund South African - Multi Asset - Low Equity 0,75% 0,82% 0,82% 0,10% 0,92% 01-Jul-2015
H4 Diversified Fund South African - Multi Asset - High Equity 0,75% 0,85% 0,84% 0,13% 0,97% 22-May-2013
H4 Growth Fund Worldwide - Multi Asset - Flexible 0,75% 0,96% 0,94% 0,17% 1,11% 22-May-2013
H4 Managed Fund South African - Multi Asset - Flexible 0,75% 0,87% 0,87% 0,14% 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% 0,16% 1,33% 09-May-2017
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% 1,64% 0,07% 1,71% 06-Nov-2002
H4 Worldwide Equity Fund Worldwide - Equity - General 0,75% 0,98% 0,95% 0,16% 1,11% 22-May-2013
PROPERTY
Citadel SA Property H4 B1 Class Fund South African - Real Estate - General 1,15% 1,20% 1,19% 0,08% 1,27% 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 2021 to 30 June 2024 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. FY TERs (Total Expense Ratio as at Financial Year-end) have been calculated using data from 1 April 2023 to 31 March 2024.
  3. ASISA TER (Total Expense Ratio) and TCs (Transaction Cost Ratio) have been calculated using data from 1 April 2021 to 31 March 2024.
FUND COSTS AS AT 30 SEPTEMBER 2024 AMF FY TER ASISA TER TC TIC INCEPTION DATE NOTES
INTERNATIONAL SOLUTIONS (FSCA Approved)
FIXED INCOME
Peregrine USD Short Duration Fund US - Fixed Income - Short Term 0,35% 0,50% 0,49% 0,04% 0,53% 25-Jul-2019 2
Peregrine USD Short Duration Fund ZAR Share Class US - Fixed Income - Short Term (Hedged to rand) 0,35% 0,50% 0,54% 0,04% 0,58% 22-Jul-2020 2
Peregrine US Bond Fund USD Share Class US - Fixed Income 0,60% 1,09% 1,14% 0,09% 1,23% 02-Sep-2019
Peregrine US Bond Fund ZAR Share Class US - Fixed Income (Hedged to rand) 0,80% 1,30% 1,36% 0,09% 1,44% 02-Sep-2019
HEDGE FUNDS
CAM Bastion Dollar Fund Global - Hedge Fund 1,25% 1,97% 1,88% 0,19% 2,07% 01-Sep-2020 1
CAM Bastion Rand Fund Global - Hedge Fund (Hedged to rand) 1,25% 2,02% 1,88% 0,19% 2,07% 01-Sep-2020 1
EQUITY
Peregrine Global Greats Fund Class R USD Global - Equity - Large-Cap Blend 1,25% 1,37% 1,37% 0,02% 1,39% 03-Aug-2012 2
Peregrine Global Greats Fund Class R ZAR Share Class Global - Equity - Large-Cap Blend (Hedged to rand) 1,25% 1,39% 1,43% 0,02% 1,45% 06-Sep-2017 2
Peregrine Global Multi-Strategy Equity USD Global - Equity - Large-Cap Blend 1,25% 1,68% 1,70% 0,14% 1,84% 03-Jun-2000 1
Peregrine Global Multi-Strategy Equity ZAR Share Class Global - Equity - Large-Cap Blend (Hedged to rand) 1,25% 1,69% 1,70% 0,14% 1,84% 01-Dec-2022 1
Peregrine Global Growth Fund USD Class R Global - Equity - Large-Cap Growth 1,25% 1,40% 1,38% 0,11% 1,49% 20-Aug-2021 2
Peregrine Global Equity Feeder Fund USD Class R Global - Equity - Large-Cap Growth 1,25% 1,76% 2,13% 0,61% 2,74% 10-Aug-2021 2
Peregrine Global Dividend Fund USD Class R Global - Equity - Income 1,25% 1,39% 1,39% 0,13% 1,52% 08-Sep-2021 2
EMERGING MARKET EQUITY
Peregrine Emerging Market Equity Fund USD R Global - Equity - Emerging Market 1,25% 1,71% 1,70% 0,49% 2,19% 02-Jun-2021
MULTI-ASSET
Peregrine US Managed Volatility Equity Fund USD Class R US - Multi-Asset - Flexible 1,25% 1,49% 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% 1,50% 1,50% 0,05% 1,56% 08-Dec-2020
Peregrine Global Balanced Global - Multi Asset - High Equity 1,25% 1,69% 1,73% 0,12% 1,85% 01-Feb-2011 1
Peregrine Global Balanced Fund ZAR Share Class Global - Multi Asset - High Equity (Hedged to rand) 1,25% 1,75% 1,73% 0,12% 1,85% 01-Jul-2011 1
Peregrine Global High Equity Fund Class R USD Global - Multi Asset - High Equity 0,85% 1,17% 1,17% 0,17% 1,34% 14-Apr-2022
Peregrine Global Medium Equity Fund Class R USD Global - Multi Asset - Medium Equity 0,80% 1,12% 1,11% 0,20% 1,31% 26-Apr-2022
Peregrine Global Low Equity Fund Class R USD Global - Multi Asset - Low Equity 0,75% 1,09% 1,06% 0,36% 1,42% 26-Apr-2022
PROPERTY
Peregrine Global Real Estate Fund R Class Global - Real Estate 1,25% 1,47% 1,45% 0,14% 1,59% 25-Apr-2015 2
NOTES:

FY TERs (Total Expense Ratio as at Financial Year-end) have been calculated using data from 1 January 2023 to 31 December 2023 unless stated otherwise.
ASISA TER (Total Expense Ratio) and TCs (Transaction Cost Ratio) have been calculated using data from 1 April 2021 to 31 March 2024 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 2023 to 31 March 2024.
  2. ASISA TER (Total Expense Ratio) and TCs (Transaction Cost Ratio) have been calculated using data from 1 July 2021 to 30 June 2024.

FUND INFORMATION

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 DOMESTIC SOLUTIONS    INTERNATIONAL SOLUTIONS
FIXED INCOME
CITADEL SA MONEY MARKET H4 FUND B1 PEREGRINE US BOND FUND (USD CLASS)
CITADEL SA INCOME H4 FUND B1 PEREGRINE US BOND FUND ZAR (ZAR CLASS)
CITADEL SA BOND H4 FUND B1 PEREGRINE USD SHORT DURATION FUND (CLASS R)
PEREGRINE USD SHORT DURATION FUND (CLASS R, ZAR HEDGED)
DOMESTIC SOLUTIONS     INTERNATIONAL SOLUTIONS
HEDGE FUNDS
CITADEL WORLDWIDE MULTI-STRATEGY H4 RETAIL HEDGE FUND B CAM BASTION DOLLAR FUND LTD (RETAIL INVESTOR HEDGE FUND)
CITADEL MULTI-STRATEGY H4 QUALIFIED INVESTOR HEDGE FUND B CAM BASTION RAND FUND LTD (RETAIL INVESTOR HEDGE FUND)
DOMESTIC SOLUTIONS     INTERNATIONAL SOLUTIONS
MULTI-ASSET
CITADEL BALANCED H4 FUND B1 PEREGRINE GLOBAL BALANCED FUND (USD CLASS)
CITADEL WORLDWIDE FLEXIBLE H4 FUND B3 PEREGRINE GLOBAL BALANCED FUND (ZAR HEDGED)
H4 STABLE FUND B1 PEREGRINE GLOBAL HIGH EQUITY FUND (CLASS R)
H4 DIVERSIFIED FUND B1 PEREGRINE GLOBAL MEDIUM EQUITY FUND (CLASS R)
H4 GROWTH FUND B1 PEREGRINE GLOBAL LOW EQUITY FUND (CLASS R)
CITADEL SA MANAGED VOLATILITY EQUITY H4 FUND B1 PEREGRINE US MANAGED VOLATILITY EQUITY FUND (CLASS R)
PEREGRINE US MANAGED VOLATILITY EQUITY FUND (CLASS R, ZAR HEDGED)
DOMESTIC SOLUTIONS INTERNATIONAL SOLUTIONS
 LONG-TERM GROWTH
CITADEL SA CORE EQUITY H4 FUND B1 PEREGRINE GLOBAL GREATS FUND (CLASS R)
CITADEL SA MULTI-FACTOR EQUITY H4 FUND B1 PEREGRINE GLOBAL GREATS FUND (CLASS R, ZAR HEDGED)
CITADEL GLOBAL EQUITY H4 FOF B1  PEREGRINE GLOBAL MULTISTRATEGY EQUITY FUND (USD CLASS)
H4 WORLDWIDE EQUITY FUND B1 PEREGRINE GLOBAL MULTISTRATEGY EQUITY FUND (ZAR CLASS)
CITADEL SA PROPERTY H4 FUND B1 PEREGRINE EMERGING MARKET EQUITY FUND (CLASS R)
PEREGRINE GLOBAL DIVIDEND FUND (CLASS R)
PEREGRINE GLOBAL EQUITY FEEDER FUND (CLASS R)
PEREGRINE GLOBAL REAL ESTATE FUND (CLASS R)
PEREGRINE GLOBAL GROWTH FUND (CLASS R)