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  •  Old Mutual Multi-Managers Balanced Fund of Funds (A)
  •   PRINT PAGE

-2.51  /  -0.26%

952.79

NAV on 2019/05/24
NAV on 2019/05/23 955.3
52 week high on 2018/09/03 1023.06
52 week low on 2018/12/27 903.27
Total Expense Ratio on 2018/12/31 2.03
Total Expense Ratio (performance fee) on 2018/12/31 0
NAV Incl Dividends
1 month change -4.26% -4.26%
3 month change -0.59% 1.17%
6 month change 4.02% 5.86%
1 year change -1.63% 0.71%
5 year change 2.66% 4.41%
10 year change 7.6% 9.59%
Price data is updated once a day.
  • Sectoral allocations
Financials 273.58 1.97%
Fixed Interest 2938.25 21.15%
General Equity 5956.61 42.87%
Liquid Assets 266.20 1.92%
Spec Equity 4458.64 32.09%
  • Top five holdings
U-SISINTG 3558.62 25.61%
U-SYMSAT3 2570.27 18.5%
LOCALUNITTEQT 1703.12 12.26%
U-SYMINC4 953.54 6.86%
U-OMMMEQ 932.92 6.71%
  • Performance against peers
  • Fund data  
Management company:
Old Mutual Unit Trust Managers (RF) (Pty) Ltd.
Formation date:
2001/06/01
ISIN code:
ZAE000036489
Short name:
U-SYMBAL
Risk:
Unknown
Sector:
South African--Multi Asset--High Equity
Benchmark:
CPI
Contact details

Email
unittrusts@oldmutual.com

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

Telephone
021-503-7100

  • Fund management  
Orbis Investment Management Ltd.
Prescient Investment Management
Investec Asset Managers

Prudential Investment Managers

Coronation Fund Managers


  • Fund manager's comment

Old Mutual MM Balanced FoF - May 17

2017/07/14 00:00:00
The local equity market was essentially flat in May, ending the 12 months at only 3.0% up. While this return is disappointing, without the inclusion of Naspers in the FTSE/JSE Shareholder Weighted All Share Index (SWIX), the index would be negative year-on-year. Naspers has been a phenomenal performer, not only this year, but for the past 10 years. It continues to dominate and improve on its competitive position and market share in all of its key content categories. The share price performance reflects the good fundamental performance, perhaps a little more so in the short term. The Consumer Price Index increased 5.3% year-on year in April, down from 6.1% in March, and has therefore moved within the South African Reserve Bank's (SARB) inflation target range (3.0% to 6.0%). Core consumer inflation, which excludes volatile food and fuel prices, decreased further to 4.8% - the lowest level since January 2013.
At the most recent Monetary Policy Committee (MPC) meeting, the South African Reserve Bank (SARB) kept interest rates steady at 7.0% as expected but the tone was less dovish than markets anticipated. In particular, the MPC highlighted risks from an uncertain global backdrop and domestic political developments, which appeared to dominate considerations of an increasingly benign inflation outlook. The MPC also trimmed their inflation forecast for 2017 to 5.7% (from 5.9%), while it expects inflation to average 5.3% in 2018 (down from 5.5%). They also trimmed our domestic growth rates a little, due to deteriorating business and consumer confidence, following the credit rating downgrades to 1.0% for 2017 and 1.5% next year.
Global equity markets continued to extend their gains in April, increasing by 17.5% in US dollars for the 12 months ending May but the strong rand (year-on-year) has tempered these to -1.7% in rand terms. Our bond market has performed well, and returned 13.4% for the 12 months ending May. Like equity, the local property market returned a disappointing 3.7% and cash returned a good 7.2% over the past 12 months.
  • Fund focus and objective  
This is a multi-managed flexible asset allocation fund aimed at long term capital growth, with a bias towards absolute returns and capital preservation. The flexible mandate is employed to allow the portfolio to be biased towards absolute returns and capital preservation in the shorter term. Over longer periods the fund attempts to produce significant inflation-beating returns. This is achieved through stock selection and an asset allocation strategy capable of achieving the performance target. The fund conforms to the legislation governing retirement funds.
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