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4.23  /  0.08%

5411.25

NAV on 2019/07/23
NAV on 2019/07/22 5407.02
52 week high on 2018/08/30 5888.11
52 week low on 2018/12/20 5113.78
Total Expense Ratio on 2019/06/30 0.82
Total Expense Ratio (performance fee) on 2019/06/30 -0.21
NAV Incl Dividends
1 month change -1.26% -1.26%
3 month change -2.14% -2.14%
6 month change 3.12% 4.92%
1 year change -2.68% 0.29%
5 year change 1.62% 4.41%
10 year change 0% 0%
Price data is updated once a day.
  • Sectoral allocations
Additional 1094.75 3.37%
Basic Materials 2995.07 9.23%
Consumer Goods 2886.43 8.90%
Consumer Services 2279.51 7.03%
Financials 3617.02 11.15%
General Equity 58.24 0.18%
Health Care 560.53 1.73%
Industrials 350.05 1.08%
Liquid Assets 7825.77 24.12%
Technology 31.65 0.10%
Telecommunications 145.51 0.45%
Offshore 10598.00 32.67%
  • Top five holdings
GOVTISSUPAPER 5334.91 16.44%
BASICMATERIAL 2995.07 9.23%
CONSUMERGDS 2886.43 8.9%
FINANCEINSTIT 2472.95 7.62%
CONSUMERSRVS 2279.51 7.03%
  • Performance against peers
  • Fund data  
Management company:
Foord Unit Trusts Limited
Formation date:
2002/08/31
ISIN code:
ZAE000164901
Short name:
U-FRDBALA
Risk:
Unknown
Sector:
South African--Multi Asset--High Equity
Benchmark:
Market value weighted average return of the South African - Multi Asset - High Equity unit trust sector, excl Foord Balanced Fund
Contact details

Email
unittrusts@foord.co.za

Website
http://www.foord.co.za

Telephone
021-532-6969

  • Fund management  
Dave Foord
Dave Foord founded Foord Asset Management in 1981. Foord remains an independent, owner-controlled portfolio management business that focuses exclusively on investment management. For 30 years, Dave and the team at Foord have been delivering returns for their clients well in excess of market benchmarks. They have achieved this by consistently taking a long-term view and a contrarian approach when necessary.
Daryll Owen
William Fraser
Nick Balkin


  • Fund manager's comment

Foord Balanced comment - Sep 18

2018/12/13 00:00:00
- Global developed markets (+0.4% in US dollars) advanced despite monetary policy tightening, higher oil prices and trade war escalations - emerging markets (-0.5% in US dollars) were mixed, with oil exporters Russia (+9.8%) and Brazil (+7.0%) outperforming oil importers India (-9.1%) and China (-1.4%)
- The fund's foreign assets (-4.3% in rand) detracted from performance on rand strength (+3.9% vs US dollar) - core holdings CVS (+4.6% in US dollars), FMC (+2.0%) and PICC (+4.8%) outperformed but were offset by weakness in Chinese names Wynn Macau (-17.4%) and JD.Com (-15.2%)
- Developed market bond yields rose and the US 10-year ended above 3.0%, driven by continued robust economic growth and rising short-term rates - unemployment below 4.0% for the longest period in eighteen years indicates the late stage of the economic cycle
- The FTSE/JSE Capped All Share Index (-3.9%) was driven lower by industrials (-7.7%) and financials (-2.0%) with resources (+1.0%) up marginally - GDP contraction, disappointing business confidence and unexpectedly weak retail sales weighed on South African equities
- Portfolio rand hedges British American Tobacco (-6.3%), Richemont (-8.8%) and Naspers (-6.4%) retraced as the rand gained - but pharmaceutical company Aspen (-41.9%) was harshly punished after earnings grew less than market expectations
- The portfolio's large government bond investment (+0.6%) contributed positively to returns, outperforming the broader All Bond Index (+0.3%) - the fund's near-term R186 bond position is attractive given its high real yield
- The rand (+3.9%) recovered some of its recent losses as the year's emerging markets rout took a breather - but the unfolding global macro environment and weak SA economic fundamentals continues to leave the currency vulnerable
  • Fund focus and objective  
The steady growth of income and capital as well as the preservation of real capital (capital as adjusted for inflation), all while exceeding the average return of the South African - Multi Asset - High Equity unit trust sector, excluding Foord Balanced Fund. The portfolio complies with the statutory investment limits set for retirement funds in South Africa.
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