In a landmark move that signals both progress and promise, the Sanlam Umbrella Fund has appointed Jolly Mokorosi as its new Chairperson, effective 1 April 2025. Mokorosi becomes the first woman to lead the Fund, bringing with her a wealth of experience and a strong commitment to transformation, good governance, and member-focused leadership.

The 2025 annual rate review for Sanlam’s three umbrella funds has been finalised. Client-specific communications have been sent, outlining fee changes effective from March and April 2025. All fees will be adjusted to reflect the VAT increase to 15.5% from 1 May 2025, with no new statements issued.

In anticipation of the Two-Pot System effective 1 September 2024, the Fund initially redirected contributions to the SIM Cash Portfolio to enhance liquidity for expected withdrawals. Following a review in March 2025, the Board of Trustees concluded that a 5% allocation to the SIM Cash Portfolio – reduced from the original 10% – is sufficient to meet withdrawal demands efficiently, while maintaining the Fund’s long-term investment strategy.