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0  /  0%

0

NAV on
NAV on 0
52 week high on 0
52 week low on 0
Total Expense Ratio on 2016/12/31 0.79
Total Expense Ratio (performance fee) on 2016/12/31 0.08
NAV
Incl Dividends
1 month change 0.08% 0.08%
3 month change 3.68% 3.68%
6 month change 0.21% 0.21%
1 year change -4.77% -2%
5 year change 0% 0%
10 year change 0% 0%
Price data is updated once a day.
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  • Sectoral allocations
Basic Materials 7.89 18.48%
Consumer Goods 5.45 12.77%
Consumer Services 4.49 10.52%
Derivatives 0.12 0.28%
Financials 12.27 28.74%
Health Care 1.44 3.38%
Industrials 1.89 4.42%
Liquid Assets 1.82 4.26%
Technology 5.44 12.74%
Telecommunications 1.88 4.40%
  • Top five holdings
 NASPERS-N 5.44 12.74%
 BHP 2.91 6.81%
 RICHEMONT 2.86 6.7%
 ANGLO 1.62 3.8%
 MTN GROUP 1.39 3.27%
  • Performance against peers
  • Fund data  
Management company:
Formation date:
ISIN code:
Short name:
Risk:
Sector:
Benchmark:


  • Fund manager's comment

MitonOptimal IP Smart Equity Fund comment - Sep 13

2014/01/17 00:00:00
August was a 3rd consecutive positive month for the equity market as the Top40 close price index generated a return of 4.19%, while the fund generated returns of 4.80% after costs.
In the month of September, there was a rotation of sector performance with both the Industrials and Financial sectors outperforming the Resources sector by 5% as the Resources sector did the previous month. The sector return differentials that resulted are that the Resources sector generated 0.99%, Industrials (5.75%) and the Financials generating 5.47%. Within the Resources, there was a significant divergence in that the Platinum Sector generated a positive return of 5.56% while Gold Mining and Oil and Gas generated disappointing results of -6.03% and -0.60% respectively.
The benchmark was greatly assisted by the rally in Banks Sector which delivered over 8% for the month. The fund benefitted by being overweight the Health sector which generated a positive return of 5.45%, Food Production (5.69%) and Electronics (5.99%).
  • Fund focus and objective  
The MitonOptimal IP Smart Equity Fund is a domestic, general equity portfolio. The investment objective of the MitonOptimal IP Smart Equity Fund is to maximise long term total returns by outperforming the FTSE JSE Top 40 Index.
The portfolio manager will use a proprietary, quantitative process to select the securities that will normally be included in the portfolio. A minimum of 80% of the market value of the portfolio will be invested in securities selected from the FTSE JSE Top 40 Index. The remainder of the portfolios assets will comprise equity securities listed on the JSE Securities Exchange, and assets in liquid form, all to be acquired at fair market prices. The portfolio will be limited to 65 securities at any point. Listed property securities are permitted but no offshore or fixed interest securities or are to be included in the portfolio.
The portfolio may also include participatory interests or any other form of participation in portfolios of collective investment schemes or other similar schemes only in the Republic of South Africa.
The Manager may from time to time invest in listed and unlisted financial instruments, in accordance with the provisions of the Act, and the Regulations thereto, as amended from time to time, in order to achieve the portfolio's investment objective.
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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