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8.44  /  0.7%

1212.84

NAV on 2021/03/01
NAV on 2021/02/26 1204.4
52 week high on 2021/02/17 1214.19
52 week low on 2020/03/23 1039.59
Total Expense Ratio on 2020/12/31 1.16
Total Expense Ratio (performance fee) on 0
NAV
Incl Dividends
1 month change 1.43% 1.43%
3 month change 3.64% 3.64%
6 month change 0.69% 3.44%
1 year change 5.52% 10.44%
5 year change 0% 0%
10 year change 0% 0%
Price data is updated once a day.
Click and drag to zoom in on timeline.
  • Sectoral allocations
Fixed Interest 230.36 34.59%
General Equity 79.96 12.00%
Liquid Assets 5.40 0.81%
Managed 184.67 27.72%
Spec Equity 165.69 24.88%
  • Top five holdings
U-MIPENIN 131.70 19.77%
U-GBLMARA 125.38 18.82%
U-METIPL 98.67 14.81%
U-FAIRTRE 79.96 12%
U-ANCBOND 72.19 10.84%
  • Performance against peers
  • Fund data  
Management company:
IP Management Company
Formation date:
2016/07/14
ISIN code:
ZAE000218582
Short name:
U-FIFITBA
Risk:
Unknown
Sector:
South African--Multi Asset--High Equity
Benchmark:
CPI + 4%
Email
clientservices@ipmc.co.za

Website
No website listed.

Telephone
021-673-1340

  • Fund management  
Financial Fitness Services (Pty) Ltd.
James Millar
James (Jim) Millar is MD and CIO of Financial Fitness. He started the company in 1996, after returning to RSA from working in the USA financial services industry. He's been a student of investment theories since 1982 and has published a number of Financial Planning and Investment 'how to' programs. Jim's approach to Asset Allocation is guided by the mantra 'keep it simple' which, paradoxically, requires a life time of practiced discipline.


  • Fund manager's comment

Financial Fitness IP Balanced FoF comment - Dec 19

2020/02/20 00:00:00
Looking back on Q4 of 2019, and the entire year for some perspective, the greatest drivers of market sentiment and direction was socio-political tensions and a rapidly polarising world order. The trade war between China and the US featured innumerable times was one of the main culprits of disruption. A bumpy and windy road but the uncertainty did not manage to derail the world economy.
Global bond markets continued to be the recipients of investment, particularly emerging markets as the global search for yield continued. This in turn definitely benefited South Africa which continued to enjoy the support despite uncertainty around the nevative fundamentals in play around politics. The domestic bond market ended heading upward into the New Year.
Renewed power generation problems as Eskkom in December made it vital for the new CEO to get stuck in. Then, the debacle around SAA continued to swirl without any decisive or corrective action being taken. Therefore business confidence remained at a low ebb. Our Bond Market also survived the Moody's decision, despite being moved from stable to negative to reflect the weakening fiscal position in this country.
During the 4th quarter, we introduced the Anchor BCI Africa Flexible Income fund to this portfolio in order to access the growth nodes in economies performing exceptionally well on the African continent. The portfolio manager does not take on country currency risk and all investment bonds and fixed interest opportunities are purchased in major currency denominations.
Tanzania has been louded by the World Bank for achieving a growth rate of 5.6% of GDP in 2019 and the trend is set to continue if further pro-tourism and pro-business policies are implemented The Republic of Cameroon is another example where the economy is set to grow by 4%.
The Financial Fitness Balanced Fund delivered 2.13% for the final quarter of 2019, finishing the year off on a respectable 12.03%.
  • Fund focus and objective  
The FINANCIAL FITNESS BALANCED IP FUND OF FUNDS is a multi-asset class portfolio with medium to high equity exposure, which will typically not exceed 75% or the limit allowed by the relevant industry classification. The objective of the portfolio is to provide investors with moderate to high capital growth in the long term from a portfolio that maintains a moderate to high risk profile, whilst preserving capital.
The portfolio will invest in participatory interests of underlying portfolios which provide exposure to a spectrum of equity, bond, non-equity and property markets. These underlying portfolios may have exposure to financial instruments. The asset allocation in the portfolio will be actively managed and the assets will be shifted between the markets and asset classes to reflect changing economic and market conditions.
Investments to be included in the FINANCIAL FITNESS BALANCED IP FUND OF FUNDS will, apart from assets in liquid form, consist solely of participatory interests or any other form of participation in portfolios of collective investment schemes or other similar schemes in the Republic of South Africa. Where the aforementioned schemes are operating in territories other than South Africa, participatory interests or any other form of participation in these schemes will be included in the portfolio only where the regulatory environment is to the satisfaction of the manager and the trustee as being of a sufficient standard to provide investor protection at least equivalent to that in South Africa and which is consistent with the portfolio's primary objective.
The portfolio will comply with all prudential requirements and regulations controlling retirement funds or such other applicable legislation as may be determined for retirement funds.
The Manager will be permitted to invest on behalf of the portfolio in offshore investments as legislation permits.
Nothing in this supplemental deed shall preclude the manager from varying the ratio of securities, to achieve the investment objective in a changing economic environment or market conditions or to meet the requirements, if applicable, of any exchange recognised in terms of legislation and from retaining cash or placing cash on deposit in terms of the deed and this supplemental deed; provided that the Manager shall ensure that the aggregate value of the assets comprising the portfolio shall consist of securities and assets in liquid form of the aggregate value required from time to time by the Act.
For the purpose of this portfolio, the manager shall reserve the right to close the portfolio to new investors on a date determined by the manager. This will be done in order to be able to manage the portfolio in accordance with its mandate. The manager may, once a portfolio has been closed, open that portfolio again to new investors on a date determined by the manager.
The trustee shall ensure that the investment policy set out in this supplemental deed is adhered to.
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