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-1.2  /  -1.23%

97.88

NAV on 2019/09/18
NAV on 2019/09/17 99.08
52 week high on 2019/05/03 104.23
52 week low on 2018/11/23 86.75
Total Expense Ratio on 2019/06/30 0.23
Total Expense Ratio (performance fee) on 2019/06/30 0
NAV Incl Dividends
1 month change 4.02% 4.02%
3 month change -5.25% -3.46%
6 month change -0.33% 1.55%
1 year change -0.82% 1.31%
5 year change 0% 0%
10 year change 0% 0%
Price data is updated once a day.
  • Sectoral allocations
Basic Materials 183.43 28.01%
Consumer Goods 80.57 12.30%
Consumer Services 47.22 7.21%
Financials 145.05 22.15%
Health Care 3.94 0.60%
Industrials 16.53 2.52%
Liquid Assets 2.27 0.35%
Technology 148.80 22.72%
Telecommunications 27.05 4.13%
  • Top five holdings
 NASPERS-N 148.80 22.72%
 BHP 77.04 11.76%
 RICHEMONT 62.28 9.51%
 ANGLO 40.79 6.23%
 STANBANK 25.72 3.93%
  • Performance against peers
  • Fund data  
Management company:
Absa Fund Managers (RF) (Pty) Ltd.
Formation date:
2018/09/06
ISIN code:
ZAE000261145
Short name:
U-T40INDX
Risk:
Unknown
Sector:
South African--Equity--General
Benchmark:
FTSE/JSE Top 40
Contact details

Email
utenquiries@absa.co.za

Website
www.absainvestmentmanagement.co.za

Telephone
011-480-5000

  • Fund management  
Jean-Pierre Matthews
Neels Pretorius


  • Fund manager's comment

Absa Top 40 comment - Jun 19

2019/09/16 00:00:00
SA equities, represented by FTSE/JSE Top 40 Index, rose by 4.61% in the second quarter of 2019. The Rand strengthened by 2.86% against the U.S. Dollar for the period. The Fund has performed in line with the index as it mirrors the constituents of the index.
South African equity markets continued their positive momentum in the second quarter of 2019. The JSE Allshare TR index was up 3.92%, with the financial sector being the star performer returning just over 7% over the quarter. Stable inflation, a positive election result and a dovish bias on the repo rate was positives for the market. A fresh accounting scandal at Tongaat Hulett, weak economic growth, 5G spectrum and unemployment are major detractors of performance. SA reported a surprise 3.2% QoQ annualised decline in GDP in the first quarter, which is the biggest quarterly fall in economic activity since the first quarter of 2009.
Global markets had positive second quarter of 2019 despite renewed trade war tension in May. The MSCI Word Index was up 1.03% and the MSCI EM Index was down 2.14% over the quarter. South Africa was one of the best performing emerging markets during the quarter even though it lagged behind developed markets performance. Gold and the precious metals sub-sector gained ground due to global growth uncertainty.
The South African local property sector has still not fully recovered from the widespread accounting concerns in early 2018. The JSAPY TR was up 4.52% for the quarter. Buildings plans that were passed decreased on a year on year basis, however confidence in the sector picked up over latter half of the second quarter as lower rate expectations started permeating through the property market. Slow economic growth and high unemployment levels may prove to dampen this recovery.
The fund tracks the performance of the by FTSE/JSE Top 40 Index containing the 40 largest shares by market capitalization.
  • Fund focus and objective  
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