Members’ retirement savings are safe! Due to the fact that the Sanlam Umbrella Fund invests in a diverse number of portfolios, the Fund has limited exposure to these portfolios and is not greatly exposed to any single portfolio. Therefore, the effect of the African Bank crash on the overall Sanlam Umbrella Fund performance is minimal and well in line with what is considered normal for balanced portfolios.

Read the official response from the Investment Sub-committee here