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Fixed Income Team

Craig Veysey

Craig Veysey

Fund Manager

Craig is fund manager of the Sanlam Strategic Bond Fund. He has 17 years investment experience, and has been responsible for fixed income at Sanlam since March 2009. Craig has previously managed global bond funds at both Scottish Widows Investment Partnership and WestLB Mellon Asset Management, and earlier in his career was also a senior member of the Global Fixed Income team at HSBC Investment Management. He qualified as an Associate of the UK Society of Investment Professionals in 2001 and became a Chartered Financial Analyst in 2003. Craig has a degree in Economics from Liverpool University and a Masters Degree in Finance and Investment from Exeter University.

Francois Kotze

Francois Kotze

Assistant Fund Manager

Francois joined Sanlam FOUR in July 2017 as Assistant Fund Manager in the Fixed Income team working primarily on the Sanlam Strategic Bond fund with lead fund manager, Craig Veysey. Francois has 8 years investment experience.

Before joining Sanlam FOUR, Francois was a Fixed Income Research analyst at Rathbone Brothers and part of the Fixed Income team providing specialist advice for more than £4 billion of fixed income client AUM. He was also part of the Rathbone Brothers’ research team.

Prior to Rathbone Brothers, Francois was Senior Credit and Macro Analyst at Sanlam Private Investments.

Francois is a CFA® charterholder and holds both a BSc (Hons) in Economics from the University of Bath, and the Investment Management Certificate.

Matthew Brittain

Matthew Brittain

Macro Analyst

Matthew is a macro analyst with a focus on currencies. He joined the Sanlam UK investment team in London in 2015. He graduated from the University of Pretoria in South Africa with an Honours degree in Economics in 2012 and subsequently joined Sanlam Private Wealth as a Junior Portfolio Manager in the Johannesburg office. Matthew has also passed the 3 levels of the Chartered Financial Analyst qualification and has the distinction of having won an Olympic Gold medal in rowing for South Africa at the London games in 2012.

Process and Philosophy

Total return focus

  • The Fund’s objective is to provide an attractive total return for investors, through a high monthly income and capital growth potential.
  • The Fund is not constrained in its bond investments by any reference benchmark or peer group.
  • Avoidance of short-term losses will enable a superior total return over the long term.

High monthly income

  • The Fund aims to produce a particularly attractive and consistent level of income that may be paid out monthly to investors.
  • The compounding effect of a high level of monthly income is a key contributor to total returns over the long term.

Value driven credit approach

  • Core investments are in undervalued corporate bonds held for the long term, in primarily the investment grade/crossover area.
  • Our focus is particularly on attractively priced bonds, sourced from a broad global opportunity set, that can deliver both a relatively high income and comply with our low tolerance for credit risk.
  • Willing to hold bonds to maturity or until full value realised through a particular event that may have the potential for also providing capital gains.

Active macro overlay

  • Core portfolio investments are supplemented with active investment in liquid government bonds on a currency hedged and unhedged basis.
  • This dynamic overlay strategy regularly adjusts the portfolio’s duration and currency exposures in seeking to enhance portfolio total returns.

Risk control

  • Active macro overlay approach aims to also assist in limiting downside portfolio risks during shifting market conditions.
  • Limited FX risk: Maximum 20% unhedged non-sterling currency exposure.
  • Limited credit risk: Maximum 20% in sub-investment grade bonds (defined as those with no investment grade rating and does not meet our specific criteria for investment grade quality).
Portfolio Decision

Fund Overview

  • The Sanlam Strategic Bond Fund aims to provide an attractive total return for investors over the long term, through a high monthly income generation and capital growth potential.
  • Managed by Craig Veysey since its launch in March 2012, the Fund seeks to invest only in the best valued corporate and government bond opportunities from a broad global bond universe, while always maintaining a particularly keen focus on portfolio downside risks.

Investment Process

Credit selection

  • A key focus of the credit selection is on finding attractively priced bonds in the investment grade and higher quality section of the sub-investment grade area.
  • Our proprietary Credit Adjusted Valuation Scoring system (CAVS) is initially utilised for identifying undervalued credit sectors and specific bonds.
  • Craig and his team then thoroughly analyse all of the potential bond investments, focusing on identification of catalysts for realising the full value of the investment to bondholders over the long term.

Macroeconomic strategy

  • Core portfolio investments are supplemented with a dynamic macro overlay strategy that regularly adjusts the portfolio’s duration and currency exposures in seeking to enhance portfolio total returns.
  • Strategy meetings determine interest rate, currency and credit views. There is a particular emphasis on identifying opportunities and risks for the overall portfolio, and any necessary adjustments to bond and currency positioning.

Portfolio construction and risk control

  • Active macro overlay approach aims to assist in limiting downside portfolio risks during shifting market conditions.
  • Liquid government bonds held to ensure a balanced portfolio approach, to provide investment flexibility and for risk management purposes.
  • Currency hedging employed, but also adjusted opportunistically.
Sanlam Strategic Bond Fund Factsheet
Sanlam FOUR Strategic Bond Fund Quarterly Report
Sanlam Strategic Bond Fund Class A Accumulation GBP KIID
Sanlam Strategic Bond Fund Class A Income GBP KIID
Sanlam Strategic Bond Fund Class I Accumulation EUR KIID
Sanlam Strategic Bond Fund Class I Accumulation GBP KIID
Sanlam Strategic Bond Fund Class I Accumulation USD KIID
Sanlam Strategic Bond Fund Class I Income EUR KIID
Sanlam Strategic Bond Fund Class I Income GBP KIID
Sanlam Strategic Bond Fund Class I Income USD KIID
Sanlam Strategic Bond Fund Class P Accumulation GBP KIID
Sanlam Strategic Bond Fund Class P Income USD KIID
Sanlam Strategic Bond Fund Class P Accumulation USD KIID
Sanlam Universal Funds plc Prospectus
Sanlam Strategic Bond Fund Supplement

How to Invest

The following forms must be completed and faxed to Sanlam Universal Funds Plc, +353 1 241 7131:

Full instructions on how to complete the forms are included, however, please contact Sanlam Universal Funds +353 1 241 7130 for further assistance.

Please ensure you read the full prospectus prior to investing.

Sanlam Universal Funds plc Prospectus Download
Sanlam Strategic Bond Supplement Download

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