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-0.95  /  -0.23%


NAV on 2021/09/23
NAV on 2021/09/22 413.4631
52 week high on 2021/08/17 437.0382
52 week low on 2020/10/30 392.0758
Total Expense Ratio on 2021/06/30 1.66
Total Expense Ratio (performance fee) on 2021/06/30 0
Incl Dividends
1 month change -4.61% -4.61%
3 month change -1.82% -1.82%
6 month change -0.63% -0.63%
1 year change 1.61% 1.61%
5 year change 0.69% 1.12%
10 year change 6.36% 7.29%
Price data is updated once a day.
Click and drag to zoom in on timeline.
  • Sectoral allocations
Basic Materials 3.94 10.40%
Consumer Discretionary 4.10 10.81%
Consumer Goods 2.60 6.85%
Energy 0.02 0.05%
Fixed Interest 0.00 0.01%
General Equity 6.27 16.53%
Health Care 0.66 1.74%
Liquid Assets 6.24 16.45%
Other Sec 3.84 10.12%
Technology 2.54 6.70%
Offshore 7.71 20.33%
  • Top five holdings
HEIDGRIMGLB 7.71 20.32%
U-SXTOPP4 6.27 16.53%
 ANGLO 2.89 7.62%
FNBETNMWC 2.77 7.3%
AB INBEV_ 2.60 6.85%
  • Performance against peers
  • Fund data  
Management company:
Itransact Fund Managers (RF) (Pty) Ltd.
Formation date:
ISIN code:
Short name:
South African--Equity--General
South Africa - Equity - General
  • Fund management  
Chris Meyer
Chris acquired extensive knowledge and experience in his 12 years as a qualified Chartered Accountant in a number of challenging managerial positions. Upon completion of his articles at the accounting and auditing firm, Theron Du Toit (Clients included Technicon SA, Trust Bank, Simba and Vetsak) he was promoted to an assistant manager, before joining the head office of the South African Department of Finance for compulsory national service. During this period, Chris managed to acquire extensive specialised tax structuring knowledge and completed a Masters degree in Business Administration on a part time basis. He was appointed director of a number of subsidiaries in the Sechold Limited Group in July 1993 (acquired by Investec Bank Limited in March 1994). As a structured finance team he and Lourens van Rensburg successfully structured investment products for institutions and corporate clients. Their portfolio of investments progressively grew into a few hundred million by early 1995 and the subsidiaries under their management contributed materially to the group's net income. Following on the success in the corporate world Chris ventured out to form the Indequity group with his colleague Lourens van Rensburg in May 1995. Through hard work and determination they, together with their dedicated team of employees, grew the business over the next couple of years into a niche financial services group. They listed the group at the end of 1998 on the Development Capital Market of the JSE Securities Exchange. Chris is currently an executive director of Indequity Group Limited and in addition to holding numerous directorships in the group he actively manages the Investments Division.In addition to his Masters degree, Chris also received BCom (Accountancy) and BCom (Hons) degrees from RAU. He qualified in 1988 and was admitted as a Charted Accountant to the South African Institute of Charted Accountants in 1991 on completion of his articles.

  • Fund manager's comment

Indequity Technical comment - Sep 09

2009/11/19 00:00:00
On the 15th of September 2008 Lehman Brothers was formally declared bankrupt and although it was widely expected that the Federal Reserve will 'bail' them out this did not happen. This resulted in financial chaos and the rest is well known to all of us.
Locally the SA Reserve Bank Monetary Policy Committee (M.P.C) decided to keep the repo rate unchanged at 7% at the most recent meeting, citing moderating inflation as the biggest reason. This is after the 500 basis point reduction in the repo rate since December 2008. According to the M.P.C. inflation is to reach its target band by Q2 of 2010 and continue to remain within the 3% - 6% band until 2011. The impact of the expected electricity price hikes will clearly have a negative effect on inflation 12 to 36 months down the line.
There are signs of a global economic recovery, although the rate of recovery is likely to be slow and uneven. Local growth is expected to increase, but is strongly influenced by international markets. The rand's recent strength against the basket, but especially the green back, provided downward pressure on inflation which has offset the higher dollar oil price.
The rand has appreciated 26% against the US dollar since 1 January 2009.
The weakening dollar also lead to a much improved gold price in dollar terms and the market is expecting new and further highs.
We are proud to say that the fund's performance is still above the peer fund since inception. The fund is placed in the 19th position out of the total of 47 competing funds from a risk adjusted point of view.
The low risk and volatility of the fund is pleasing and over the last year your fund had the lowest unit price fall and volatility against its peers which means that investors received an acceptable return at extremely low risk. We strive for solid returns at low risk.
When comparing the top ten holdings in September with the June top ten holdings (June fact sheet), you will notice that MTN is still the top holding. Anglo American was the entrant in the number three position. Standard Bank, Naspers and BHP Billiton held their positions relative to June, while British American Tobacco shifted out of the top ten holdings. The abovementioned shifts (and new entrants) is based on our quantitative and technical investment approach, which has shown to be effective over time. We believe this 'rearranging' of the shares and new entrants in our top holdings is the correct approach when taking future prospects into consideration.
Please note: The data provider changed the basis of the performance and risk measurement of the unit trust sectors after June 2009.This lead to absolute and relative changes when the September information is compared to the June 2009 fact sheet.
  • Fund focus and objective  
Fund Objective
The fund's objective is to provide investors with an even balance between growth and income over the long term.
The Fund's portfolio provides exposure to a selection of growth orientated Unit Trusts and also provides capital stability and income via lower risk money market/ income Unit Trusts. The fixed interest component reduces the risk of capital volatility and ensures that the portfolio retains a moderate risk/return profile.
The equity exposure level is a factor of the fund manager's analysis of the equity market's price levels and the equities potential to provide positive returns. The equity exposure could be as high as 65% of the total portfolio. The Fund's risk profile varies depending on the stated level of equity exposure.

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