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-3.56  /  -0.52%

684.8

NAV on 2019/03/22
NAV on 2019/03/21 688.36
52 week high on 2018/03/27 943
52 week low on 2019/03/22 684.8
Total Expense Ratio on 2018/12/31 1.6
Total Expense Ratio (performance fee) on 0
NAV Incl Dividends
1 month change -2.15% -2.15%
3 month change -5.37% -5.37%
6 month change -12.32% -12.32%
1 year change -27.72% -26.78%
5 year change 0% 0%
10 year change 0% 0%
Price data is updated once a day.
  • Sectoral allocations
Alt X 2.33 4.12%
Basic Materials 8.06 14.26%
Consumer Goods 9.45 16.70%
Consumer Services 9.31 16.46%
Financials 12.31 21.76%
Health Care 3.18 5.61%
Industrials 4.38 7.75%
Liquid Assets -0.38 -0.68%
Technology 1.23 2.17%
Telecommunications 4.56 8.06%
Offshore 2.14 3.79%
  • Top five holdings
 AEEI 5.98 10.57%
 NASPERS-N 5.51 9.74%
 MTN GROUP 3.70 6.55%
 WESCOAL 3.46 6.12%
 PFB 3.40 6%
  • Performance against peers
  • Fund data  
Management company:
IP Management Company
Formation date:
2017/02/27
ISIN code:
ZAE000240867
Short name:
U-IPFLEXI
Risk:
Unknown
Sector:
South African--Multi Asset--Flexible
Benchmark:
CPI + 4%
Contact details

Email
clientservices@ipmc.co.za

Website
No website listed.

Telephone
021-673-1340

  • Fund management  
Integrated Managed Investments


  • Fund manager's comment

IP Flexible Fund comment - Sep 18

2018/12/04 00:00:00
Global equities, measured in dollars, have gained another 4%. Countries that have domestic political difficulties, notably the UK, Italy and South Africa, and those that are threatened by the full force of a potential trade war, such as China, Hong Kong, Australia and Canada, have been driven down by sentiment. The US market has delivered the bulk of global equity gains.
Returns from SA equities were poor during September because of a general Emerging Market sell-off and the strengthening of the rand. Foreigners have sold SA equities in significant quantities because of concerns over countries such as Turkey and Argentina and the desire to reduce risk. The political situation in SA is improving, albeit slowly. We are in far better position than this time last year. These improvements are expected inspire confidence is the medium-term.
The IP Flexible Fund was weaker in line with the weakness seen across all sectors in the JSE. We continue to be Rand defensive in our approach and stock specific in our application. We favour companies that exhibit a clear advantage in their core sectors with clear earnings visibility, good cash flow, growing dividends and attractive valuations relative to earnings outlook.
Owing to continued negative investor sentiment towards emerging markets, the Fund is expected to perform in line with the JSE over the medium to longer term.
  • Fund focus and objective  
The IP Flexible Fund is a South African, multi-asset flexible fund, investing in all permitted asset classes. The objective of this portfolio is to achieve long term capital appreciation. The generation of income will be of secondary importance. There will be no limitations on the relative exposure of the portfolio to any asset class. Geographical restrictions will be as per the defined industry classification, as amended from time to time.
Investments to be included in the IP Flexible Fund will, apart from assets in liquid form, consist of securities and listed and unlisted financial instruments across all permitted asset classes, including exchange traded funds and exchange traded notes as permitted by legislation from time to time. The investment manager will have complete flexibility to vary the exposure to different asset classesas economic conditions vary.
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