The fund was launched in August 2018 to invest in listed securities that derive their value from underlying real assets and targets CPI +4% over a full investment cycle. Investments can be via REITs, investment trusts or specialist companies with a focus on physical assets.
 

The fund:
  • Offers attractive yields from long-term cashflows with significant inflation protection

  • Is managed by a team with proven experience in this area

  • Benefits from diversification and lower volatility than traditional equity portfolios

Introducing Sanlam Real Assets Fund

September 2019 - Latest commentary

 

Transparency - September brought another flurry of Brexit news. The supreme court ruled that the suspension of parliament was unlawful and MPs consequently returned to the house of commons. Boris Johnson's future as PM was called into question, and the debates over a Brexit extension heated up. Europe has already front footed the issue stating the blame rests with the UK should there be a no deal. In the US, easing trade tensions were supportive for equity markets. Towards the end of the month, a whistle-blower uncovered a transcript of a Trump conversation with the Ukrainian president that led to an investigation over violations of US law. An impeachment inquiry has now begun.

 
Real Assets performed well in September with positive contributions coming from infrastructure, renewables, specialist property and other alternatives. September saw the results of the UK's third renewables CFD auction, which invited companies to bid for a number of offshore wind projects. The prices securing projects came in 30% lower than the previous auction only 2 years ago, marking another leap forward for the industry. However it was property that was the largest contributor over the month, helped by acquisitions in student accommodation, private-rented homes and social housing.


Activity - We continued to deploy inflows to the fund in the open market. We also participated in three capital raises during September, the proceeds of which are to go towards acquiring supermarkets, infrastructure debt assets and a tanker ship.

Previous months’ commentaries are contained within the fund factsheets.

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Fund disclaimer

Past performance is not a guide to future performance. Do remember that the value of an investment and the income generated from them can fall as well as rise and is not guaranteed, therefore, you may not get back the amount originally invested and potentially risk total loss of capital.

The Fund has holdings which are denominated in currencies other than sterling and may be affected by movements in exchange rates. Consequently the value of an investment may rise or fall in line with the exchange rates.

The Fund may invest in derivatives for the purposes of efficient portfolio management and hedging only . There is a risk that losses could be made on derivative positions or that the counterparties could fail to complete on transactions. The Fund's expenses are charged to capital. This has the effect of increasing dividends while constraining capital appreciation. 

Part of the fund may invest in fixed income securities. The government or company issuer of a bond might not be able to repay either the interest or the original loan amount and therefore default on the debt. This would affect the credit rating of the bond and, in turn, the value of the fund. Investment in bonds and other debt instruments (including related derivatives) is subject to interest rate risk. If long-term interest rates rise, the value of your shares is likely to fall.

Please agree to proceed. By doing so you agree that you have read and understood the foregoing disclaimer and confirm that you are a professional investor.

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The value of investments and any income from them can fall and you may get back less than you invested.