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6.68  /  0.23%

2931.04

NAV on 2019/09/19
NAV on 2019/09/18 2924.36
52 week high on 2018/10/04 2981.89
52 week low on 2019/01/04 2686.28
Total Expense Ratio on 2019/06/30 0.55
Total Expense Ratio (performance fee) on 2019/06/30 -0.22
NAV Incl Dividends
1 month change -0.08% 0.94%
3 month change 2.54% 3.58%
6 month change 0.98% 2.01%
1 year change -1.21% 1.12%
5 year change 4.93% 6.75%
10 year change 0% 0%
Price data is updated once a day.
  • Sectoral allocations
General Equity 84.10 0.93%
Managed 3482.21 38.69%
Spec Equity 9.22 0.10%
Offshore 5423.72 60.27%
  • Top five holdings
U-FRDABRE 3482.21 38.69%
FOORDGLBEQ 3195.95 35.51%
O-FRDINT 2227.77 24.76%
OTHERASSETS 84.10 0.93%
U-FOOGLOE 9.22 0.1%
  • Performance against peers
  • Fund data  
Management company:
Foord Unit Trusts Limited
Formation date:
2008/04/01
ISIN code:
ZAE000164927
Short name:
U-FLEXFOF
Risk:
Unknown
Sector:
Worldwide--Multi Asset--Flexible
Benchmark:
CPI + 5%
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.


  • Fund manager's comment

Foord Flexible FoF 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 Anheuser Busch Inbev (-9.7%), and Richemont (-8.8%) 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 assets of the portfolio shall, apart from assets in liquid form, be solely invested in a mix of participatory interests in portfolios invested in South African and global equity securities, property securities, non-equity securities and money market investments. The underlying portfolios of collective investment schemes shall be registered in South Africa or other similar schemes operating in territories with a regulatory environment which is to the satisfaction of the manager and trustee of sufficient standard to provide protection at least equivalent to that in South Africa.
In order to achieve the investment objective, the manager shall have maximum flexibility in terms of asset allocation and shall not be precluded from continuingly varying the exposure to equity securities, non-equity securities and money market portfolios as well as assets in liquid form. There shall be no investment restrictions other than those imposed by the Act and any Regulations imposed by the Registrar.
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