Sanlam Alternative Income Fund comment - Mar 17 - Fund Manager Comment11 Jul 2017
Tax changes coupled with downgrade actions by the international rating agencies, has made for an interesting quarter.
February saw an increase in the dividend tax rate (from 15% to 20%), as well as the expansion of the individual income tax scale to include a marginal tax rate of 45%.
Amid market turmoil, the fund continues to outperform its benchmark and grow in size.
Asset movement included investments in three new assets to the value of R450 million, with no assets.