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Steer FR Stable Fund

Reliable and consistent through all seasons
Stable growth married with prudent risk management

Description

The Fund is suitable for investors who seek stable growth and capital preservation with a time horison of 3 years

The fund invests in a combination of equities, listed property, bonds and commodities. The fund can invest a maximum of 45% offshore. The mandate is capped at a maximum combined allocation of 40% to local and offshore equities and a maximum of 10% to commodities. The fund is compliant with regulation 28 of the pension funds act.

Objective

The fund aims to provide consistent and stable capital growth and to outperform its benchmark on a risk adjusted return basis over any rolling 24m period. This is achieved by diversifying between unrelated asset classes and the active management of known risks as steered by our investment process.

Strategy

The strategy focusses on active asset allocation as the main contributor of returns. Long standing cause and effect relationships between asset classes and financial indicators is monitored to determine the relative value of asset classes to cash and each other. Tactical decisions are balanced and weighted across multiple valuation disciplines.

Access

The Steer Stable FR Fund is available on the below LISP platforms:
Allan-Gray
Glacier
Momentum
PPS-Investments
Investec

Return summary, net of fees

Steer FR Stable Fund, Class A · as at 31 August 2026 · annualised, except year to date which is cumulative

Steer FR Stable FundASISA SA Multi-Asset Low Equity average

Year to date

5.04%
4.07%

1 year

11.88%
10.58%

2 years

12.39%
11.53%

3 years

11.64%
11.71%

5 years

8.75%
9.62%

Since inception

7.85%
10.15%

Source: Minimum Disclosure Document, net of the total expense ratio, all income reinvested. The comparison is the fund's official benchmark, the ASISA South African Multi-Asset Low Equity category average. Past performance is not necessarily an indication of future performance.

Deepest fall, and the gain needed to recover

Steer FR Stable Fund, Class A · Jan 2024 to Aug 2026 · drawn to scale

Previous high−3.56%−4.01%Steer FR Stable Fundneeds +3.69% to recoverASISA Low Equity averageneeds +4.18% to recover

Maximum drawdown is the largest fall from a peak to the following trough before a new peak is set. Recovery is arithmetic: a fall of d requires a gain of d ÷ (1 − d) to break even. The comparison is the fund's official benchmark, the ASISA South African Multi-Asset Low Equity category average, measured over exactly the same months. Past performance is not necessarily an indication of future performance.

Risk-adjusted picture

Steer FR Stable Fund, Class A · Jan 2024 to Aug 2026 · against the fund's own benchmark

Steer FR Stable FundASISA Low Equity average

Volatility — lower is better

4.27%
3.95%

Return per unit of volatility — higher is better

2.91
2.98

Calmar ratio — return per unit of drawdown, higher is better

3.49
2.94

Volatility is annualised standard deviation. Return per unit of volatility is the annualised return over the period shown divided by volatility; it is not a Sharpe ratio, as no risk-free rate is deducted. Calmar ratio is that same annualised return divided by the deepest fall. The fund and its benchmark are measured over exactly the same months. Past performance is not necessarily an indication of future performance.

Latest Minimum Disclosure Document

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