SAFEX Performance — Ultra Short Government Fund, Institutional Class
Data updated: 2026-08-31
SAFEX returned +1.56% year to date and +3.54% over one year to Jun 2026. Annualised returns are +4.40% over 3 years and +3.32% over 5 years. The fund beat its Money Market category average: $100 invested three years ago grew to $114, against $108 for the category, and to $104 over one year, against $95. Volatility over the past three years was 0.28% a year. In the 12 months to Jun 2026 the fund lost a net $17.9M, and assets reached $117.37M.
SAFEX Growth of $100
What $100 invested in Ultra Short Government Fund grew to, compounded from monthly returns reported on SEC Form N-PORT, against the Money Market category average over the same months.
| Period | SAFEX | Category average |
|---|---|---|
| 1 year (Jul 2025 – Jun 2026) | $104 | $95 |
| 3 years (Jul 2023 – Jun 2026) | $114 | $108 |
| 5 years (Jul 2021 – Jun 2026) | $118 | $101 |
| Since data start (Jul 2019 – Jun 2026) | $120 | $119 |
SAFEX Trailing Returns
Total returns to Jun 2026, from SEC N-PORT.
| Period | Total return |
|---|---|
| YTD | +1.56% |
| 1 year | +3.54% |
| 3 years (annualised) | +4.40% |
| 5 years (annualised) | +3.32% |
SAFEX Annual Returns
Calendar-year total returns of Ultra Short Government Fund, compounded from monthly SEC N-PORT returns. Partial years show the months covered.
| Year | Total return |
|---|---|
| 2026 (Jan–Jun) | +1.56% |
| 2025 | +4.01% |
| 2024 | +4.91% |
| 2023 | +4.96% |
| 2022 | +1.25% |
| 2021 | +0.02% |
| 2020 | +1.01% |
| 2019 (Jul–Dec) | +0.98% |
SAFEX Monthly Returns
Monthly total returns as reported on SEC Form N-PORT.
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | +0.2% | +0.2% | +0.3% | +0.3% | +0.3% | +0.3% | — | — | — | — | — | — |
| 2025 | +0.4% | +0.3% | +0.3% | +0.3% | +0.3% | +0.3% | +0.2% | +0.4% | +0.3% | +0.3% | +0.3% | +0.3% |
| 2024 | +0.4% | +0.3% | +0.4% | +0.4% | +0.4% | +0.4% | +0.4% | +0.5% | +0.4% | +0.4% | +0.4% | +0.3% |
| 2023 | +0.4% | +0.3% | +0.5% | +0.3% | +0.4% | +0.4% | +0.4% | +0.4% | +0.4% | +0.4% | +0.5% | +0.5% |
| 2022 | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | +0.2% | +0.1% | +0.2% | +0.2% | +0.4% |
| 2021 | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | −0.1% |
| 2020 | +0.2% | +0.2% | +0.3% | +0.1% | 0.0% | +0.1% | +0.1% | −0.1% | 0.0% | 0.0% | 0.0% | −0.1% |
| 2019 | — | — | — | — | — | — | +0.1% | +0.3% | +0.2% | +0.2% | +0.1% | +0.1% |
SAFEX Risk
Risk measures from monthly returns over Jul 2023 – Jun 2026.
- 3-year volatility (annualised): 0.28%
- Best month: +0.53% (Aug 2024)
- Worst month: +0.20% (Jan 2026)
SAFEX Fund Flows
Monthly money in and out of Ultra Short Government Fund, from SEC Form N-PORT.
- 12-month net flow: −$17.9M
- 12-month gross sales (incl. reinvestments): $103.9M
- Sales ÷ redemptions: 0.85×
| Month | Sales | Redemptions | Net flow |
|---|---|---|---|
| Jun 2026 | $4.3M | $7.6M | −$3.2M |
| May 2026 | $8.3M | $8.4M | −$141K |
| Apr 2026 | $11.0M | $6.7M | $4.3M |
| Mar 2026 | $22.4M | $4.6M | $17.7M |
| Feb 2026 | $5.6M | $2.1M | $3.5M |
| Jan 2026 | $3.5M | $5.3M | −$1.7M |
| Dec 2025 | $16.0M | $17.7M | −$1.7M |
| Nov 2025 | $4.4M | $2.3M | $2.1M |
| Oct 2025 | $2.4M | $51.1M | −$48.8M |
| Sep 2025 | $18.5M | $9.9M | $8.6M |
| Aug 2025 | $4.0M | $3.2M | $738K |
| Jul 2025 | $3.5M | $3.0M | $551K |
SAFEX Assets Under Management
Net assets of Ultra Short Government Fund by report date, from SEC N-PORT filings.
| Report date | Net assets |
|---|---|
| 2026-06-30 | $117.37M |
| 2026-03-31 | $116.43M |
| 2025-12-31 | $96.96M |
| 2025-09-30 | $145.34M |
| 2025-06-30 | $135.36M |
| 2025-03-31 | $141.43M |
| 2024-12-31 | $148.11M |
| 2024-09-30 | $142.58M |
| 2024-06-30 | $181.72M |
| 2024-03-31 | $182.86M |
| 2023-12-31 | $184.33M |
| 2023-09-30 | $133.02M |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.