← Our Funds

Southern Charter BCI Worldwide Flexible Fund

as at: 
31 January 2018

PDF Downloads

View the Fund's Archive

Download the lastest Southern Charter BCI Worldwide Flexible Fund's minimum disclosure document or browse the archive

Investment Objectives

The Southern Charter BCI Worldwide Flexible Fund of Funds primary objective is to generate moderate to high long term total returns. The fund aims to provide investors with capital growth of 5 % above inflation over a 2 year rolling period, by investing in a combination of asset classes including local and international equities, fixed interest, property and cash. The manager shall have maximum flexibility in terms of asset allocation and shall not be precluded from continually varying the underlying exposure to both local and offshore assets such as equities, non-equity securities, bonds, preference shares, property, fixed interest and money market portfolios and assets in liquid form. This fund is NOT Regulation 28 compliant and therefore will reflect our best unconstrained asset allocation strategy. It is ideal for investors with discretionary funds and who are willing to have a high exposure to offshore assets.


The Fund is actively managed and reflects our best unconstrained asset allocation strategy.

Performance (net of all fees)

FundReturn1 Year3 YearsSince Inception
SC Worldwide Flexible FoF'sCumulative5.25%14.83%36.57%
CPI + 5%Cumulative9.93%36.19%54.75%
SC Worldwide Flexible FoF'sAnnualised5.25%4.72%7.46%
CPI + 5%Annualised9.93%10.84%10.60%

Fund Commentary

The SARB left interest rates unchanged at its MPC meeting in January, despite poor growth, citing the looming possibility of a downgrade and upside risks to the oil price. The Fed also kept rates unchanged at their FOMC meeting, however adopting a somewhat more cautionary tone on inflation expectations, causing some analysts to adjust their interest rate forecasts for 2018.

January marked a record 15 months of gains in global equity markets, with sentiment underpinned by solid fundamentals in corporate earnings and synchronised global growth. Fresh record highs were posted across numerous indices, the MSCI World and MSCI EM returned 5.3% and 8.3% in USD respectively. The JSE All Share Index was flat for the month returning 0.1% in ZAR, as returns were hit by weakness in Naspers shares and a stronger rand, which appreciated 4.1% against a weaker US dollar.

The All Bond Index delivered a strong return of 1.9% for the month as yields across the yield curve declined to lower levels. The nominal bond market received support from benign inflation data and another strong external trade surplus. While local bond market sentiment remained relatively buoyant, the same could not be said of most developed bond markets, as bond yields rose, causing some pain in risk assets in late January.

The SA Listed Property Index was down 9.9% in January, as SA Listed property shares were punished by rumours and fears over balance sheet weakness at the Resilient stable but were also affected by rising bond yields in developed markets, as they are particularly leveraged to interest rates.

Asset Allocation - Values displayed in percentage (%)

Global Equity15.0%66.3%
Global Property0.0%0.6%
Global Bonds10.0%4.2%
SA Cash0.0%8.5%
SA Bonds13.5%0.2%
SA Property9.0%7.5%
SA Equity52.5%12.7%

Asset Class Performance - Values displayed in percentage (%)

1 YearMonthly
Global Equity11.4%1.0%
Global Property-6.0%-5.4%
Global Bonds-2.9%-1.9%
SA Cash7.5%0.6%
SA Bonds10.8%1.9%
SA Property3.9%-9.9%
SA Equity16.1%0.1%
Invest now

Would you like to buy this fund?
Please send us the details to start the process.

Time horizon

Minimum 3 years investment

Risk Profile

  • Low
  • Low-Mod
  • Mod
  • Mod-High
  • High
Morningstar Rating: 
2.00 Star

Portfolio Managers

(021) 700 1000


1st Floor, Silverberg Terrace
Steenberg Office Park
Steenberg Road
Tokai, 7925

FSP No. 740