search menu Home > Sanlam Investments > Our fund range OUR FUND RANGE Sanlam US Dividend Fund A contrarian, dividend value fund offering exposure to US equities. Managed since December 2014 by the same manager and with the MSCI North America Index as a benchmark, the fund invests in attractive US companies with sustainable dividend yields. The fund: Is managed by a highly experienced and top performing value manager Adopts a disciplined value style with a distinctive quality overlay Offers lower risk than the broad market with low correlations to other US funds December 2020 - Latest commentary US markets capped off a great 2020 by advancing another 4% in December following the 11% rise in November. This put the year-to-date tally at above 18%. It was a great year for US equities, despite the rise of the pandemic. Value underperformed again in the final month of 2020, after two strong months in October and November where it led the markets - especially during the strong November rebound. Year-to-date the value and dividend styles ended up only a couple of percent, despite the strong markets. Growth indices on the other hand had a fantastic year, adding 38%. This put the 2020 differential between growth and value at 35%. This brought the three, five and ten-year differentials to 67%, 98%, and 217% respectively. The 10-year treasury yield continued its prior month advance, finishing up circa 91bps. Commodities had another great month, adding around 5%. Gold also advanced strongly, by about 5%. Technology, financials and consumer discretionary acted once again as the best sectors. Energy, materials and yield-rich sectors underperformed. The fund underperformed the markets in December, driven by the style underperformance which followed two strong outperformance months during the value rebound. Sector allocation drove most of the differential, while currency added value. Most value was added in the cyclical sectors. The fund exited 2020 very attractively priced. It offered significant discounts on all valuation metrics, while exhibiting much better quality metrics, lower leverage and higher return on equity. Active share remained around 98%. Previous months’ commentaries are contained within the fund factsheets. Fund literature Factsheet KIIDs Regulatory Fund information Meet the Sanlam US Dividend Fund Team Adour Sarkissian, CFA Head of US Equities Conor Walsh, CFA Assistant Fund Manager Fund factsheets Monthly performance update Find out more Fund supplements Regulatory documents Find out more Fund KIIDs Key investor information Find out more Quarterly newsletters Fund and market updates Find out more Fund disclaimer Past performance is not a guide to future performance. Do remember that the value of an investment and the income generated from them can fall as well as rise and is not guaranteed, therefore, you may not get back the amount originally invested and potentially risk total loss of capital. A table with five years performance is available in the fund factsheets below. The fund invests geographically in a narrow range, there is an increased risk of volatility which may result in frequent rises and falls in the Fund's share price. Want to know more? For any queries about our fund range, please call us on 020 3116 4016. Or find out how to invest below. How to invest Create a downloadable brochure You can use these buttons to add a page, edit, or print your own brochure Add to brochure Contact Add to brochure Brochure Print Share Contact Us Terms of Use Website Privacy Policy Cookie Policy Modern Slavery Act Transparency Statement Accessibility Legal and Regulatory Sitemap © Sanlam. All rights reserved. Sanlam UK Limited is the provider of the Sanlam website. If you would like to view the regulatory and legal status of each Sanlam company to which this website relates, and the services and products which they provide, please click here. Please agree to proceed. By doing so you agree that you have read and understood the foregoing disclaimer and confirm that you are a professional investor. View disclaimer Cookie Consent We have to collect some data when you use this website so it works and is secure. We'd also like your consent to collect data to study how people use our site. This will help us improve our service and tailor the marketing you see on apps and other websites. Select 'Accept all' to agree or 'Manage consents' to chose which cookies we use. Accept all Manage consents The value of investments and any income from them can fall and you may get back less than you invested.