Private Client portfolios are constructed using a range of equity, listed property and fixed income strategies aimed at providing clients with portfolios that pay regular income distributions and target distribution growth over the medium term to hedge against inflation risk. We believe that by investing in a range of equities that combine attractive valuations with both income-paying and growth-in-income characteristics, we are able to deliver superior total returns to our clients over the long term.

Investment research is rigorous and structured, with an experienced Asset Management Investment Committee being responsible for a systematic, value-driven investment process that determines the investment strategy, asset allocation and stock or fund selection appropriate for clients.

Our strategy is biased towards large capitalisation companies whose securities are liquid, with strong and proven management teams, and have strong cash flows and attractive dividends. The portfolios will also have a large rand-hedge component to them and our preferred investment style is to hold a high conviction portfolio of not more than 25 counters.

Where appropriate, we include listed property shares in the construction of portfolios. We have a strong research focus in this sector and this competitive advantage provides us with the opportunity to achieve enhanced yields and total returns.

Offshore exposure is obtained using a “core and satellite” approach – investing in a combination of low-cost offshore Exchange Traded Funds and selected high quality securities.

Private Client Balanced Model and Equity portfolio performances compared to various benchmarks:

RETURN %10 year5 year3 year2016
JSE ALL SHARE INDEX10.7013.106.302.63
ALL BOND INDEX8.007.306.9015.45
SA EQUITY GENERAL (AVE.)8.7910.464.723.07
SA MULTI-ASSET HIGH EQUITY (AVE.)8.5710.396.101.31
* Annualized total return to 31 December 2016
* Returns exclude fees