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The Sanlam Umbrella Fund received the following letter (SMP Fee Review Letter) dated 21 January 2020 advising fee reviews effective 1 May 2020 on four portfolios being:

  • Sanlam Foord Balanced Fund
  • Sanlam Prudential Balanced Fund
  • Sanlam Allan Gray Global Balanced Portfolio *
  • Sanlam Coronation Houseview Portfolio *

    * closed portfolios only available to investors in these portfolios prior to 2015

Please note there are no changes to the fees applicable in respect of the following portfolios within this Range:

  • Allan Gray Global Balanced Portfolio **
  • Coronation Houseview Portfolio **
  • Investec Balanced Fund
  • PSG Balanced Fund

     ** portfolios offered to all new investors since 2015

Essentially this implies the fee reviews only apply to the portfolios structured via a Sanlam Life policy wrapper.

The letter details the applicable fee reviews.

The Sanlam Umbrella Fund Investment Committee is investigating whether alternative structures should be put in place for the impacted portfolios, and as an interim measure decided it would be prudent to publish the fee review letter received. If it is decided to make any changes to the portfolio structures, further communication will follow once the investigations are concluded and decisions made.

Please contact your Sanlam Client Relations Manager if you have any queries pertaining to this matter.