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5.71  /  0.39%

1475.74

NAV on 2021/03/01
NAV on 2021/02/26 1470.03
52 week high on 2021/02/25 1481.77
52 week low on 2020/03/23 1047.33
Total Expense Ratio on 2020/12/31 0.91
Total Expense Ratio (performance fee) on 2020/12/31 0
NAV
Incl Dividends
1 month change 2.83% 2.83%
3 month change 6.82% 6.82%
6 month change 4.07% 5.1%
1 year change 12.67% 15.17%
5 year change 5.22% 7.71%
10 year change 0% 0%
Price data is updated once a day.
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  • Sectoral allocations
Basic Materials 174.80 9.75%
Consumer Goods 60.94 3.40%
Consumer Services 36.24 2.02%
Derivatives 2.30 0.13%
Financials 100.04 5.58%
Fixed Interest 27.20 1.52%
Health Care 4.30 0.24%
Industrials 20.33 1.13%
Liquid Assets 48.85 2.72%
Managed 160.04 8.92%
Real Estate 61.91 3.45%
SA Bonds 53.55 2.99%
Specialist Securities 115.75 6.45%
Technology 57.48 3.21%
Telecommunications 16.81 0.94%
Offshore 852.65 47.55%
  • Top five holdings
O-ISWEQIN 300.35 16.75%
VANALLWORLD 242.35 13.52%
U-NEWGOLD 115.75 6.45%
O-COREMSW 100.59 5.61%
U-CAMUINT 88.06 4.91%
  • Performance against peers
  • Fund data  
Management company:
H4 Collective Investments (RF) Pty Ltd.
Formation date:
2013/05/22
ISIN code:
ZAE000178372
Short name:
U-H4GROWT
Risk:
Unknown
Sector:
Worldwide--Multi Asset--Flexible
Benchmark:
5% STeFI 3-Month, 10% BEASSA All Bond Index, 70% FTSE/JSE All Share (J203T), 15% MSCI All Country World USD Net Return Index
Email
info@h4ci.co.za

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

Telephone
021-670-9100

  • Fund management  
Yolanda B Naude


  • Fund manager's comment

H4 Growth Comment - Dec 19

2020/02/19 00:00:00
Note: Given this fund’s objective, the manager recommends a minimum time horizon of six years for it to achieve its strategic objective.
The H4 Growth Fund (‘the fund’) delivered 1.7% in Q4-2019; and has delivered 14.5% versus 10.4% for its SA CPI +6% p.a. benchmark over the past year. In terms of the major asset classes to which the fund was exposed during the quarter, the local equity market (measured by the FTSE/JSE All Share Index) gained 4.6%, slightly behind the FTSE/JSE Capped Top 40 Index (to which the fund is exposed) which was up 5.2%. Local bond prices (All Bond Index) ended the quarter up 1.7% despite the Moody’s rating agency’s announcement in the quarter of a downgrade in the country’s rating outlook from Stable to Negative; while the local listed property market (FTSE/JSE SA Listed Property Index) gained 0.6%. Global equities (MSCI All Country World Index in US dollars) delivered 9% during Q4-2019’s renewed risk-on phase; while global listed property (MSCI World REITs Index in US dollars) was flat. During the quarter the rand strengthened 8.4% versus the US dollar; detracting significantly from the performance of global assets when measured in rand terms.
One of the stated primary objectives of the fund is to achieve capital appreciation over the medium to long term at a risk level that is somewhat lower than that of a pure equity investment. When measured over the past one and three year periods, the fund’s standard deviation (which is a generally accepted measure of risk/volatility) was 6.7% and 8.7% respectively; compared with the local equity market’s standard deviation of 10.5% over one year and 11.5% over three years, and global equity measured in rand’s standard deviation of 25.8% over one year and 22.3% over three years.
There were no marked asset allocation changes in the fund during the quarter. In terms of foreign currency exposure, the manager initiated a new zero cost currency hedge during August on a portion of the fund’s offshore exposure in order to protect it from possible marked rand strength. This protection was in place until mid-December 2019. At quarter-end, the fund held a relatively diversified mix of assets which the manager deems appropriate for the current investment climate. Sizeable asset class exposures included global and domestic equity (of which a portion was allocated to protected equity), along with local and global listed property and SA government bonds. The fund continues to adhere to its policy.
  • Fund focus and objective  
The H4 Growth Fund is a moderate to high risk multi-asset portfolio, with the objective of achieving capital appreciation over the medium to long term at a risk level that is somewhat lower than that of a pure equity investment, and with a level of capital stability that is greater than that of a pure equity investment.
The portfolio invests primarily in listed equity securities, fixed interest securities, listed real estate and assets in liquid form. The portfolio is permitted to invest in offshore investments as legislation permits.
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