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3.31  /  0.22%

1491.85

NAV on 2019/01/18
NAV on 2019/01/17 1488.54
52 week high on 2018/09/03 1579.4
52 week low on 2019/01/07 1473.51
Total Expense Ratio on 2018/09/30 0.45
Total Expense Ratio (performance fee) on 2018/09/30 0
NAV Incl Dividends
1 month change 0.08% 1.44%
3 month change -0.34% 1.01%
6 month change -1.78% 0.92%
1 year change -3.81% 1.45%
5 year change 2.03% 7.11%
10 year change 0% 0%
Price data is updated once a day.
  • Sectoral allocations
Alt X 0.02 0.00%
Basic Materials 287.08 4.80%
Consumer Goods 119.04 1.99%
Consumer Services 295.50 4.94%
Derivatives 3.28 0.05%
Financials 732.81 12.25%
Fixed Interest 1066.08 17.82%
Gilts 1328.42 22.21%
Health Care 50.97 0.85%
Industrials 93.72 1.57%
Liquid Assets -64.97 -1.09%
Money Market 809.83 13.54%
Oil & Gas 1.41 0.02%
Technology 4.30 0.07%
Telecommunications 74.50 1.25%
Offshore 1180.24 19.73%
  • Top five holdings
NEDGROUPCOREG 1176.82 19.67%
U-NEDCSHP 946.46 15.82%
MONEYMARK 585.59 9.79%
MM-35MONTH 203.17 3.4%
 NASPERS-N 129.22 2.16%
  • Performance against peers
  • Fund data  
Management company:
Nedgroup Collective Investments (RF) (Pty) Ltd.
Formation date:
2010/01/28
ISIN code:
ZAE000136818
Short name:
U-NICGUAR
Risk:
Unknown
Sector:
South African--Multi Asset--Low Equity
Benchmark:
Inflation +3% per annum over rolling 3 years
Contact details

Email
No email address listed.

Website
http://www.nedgroupinvestments.com

Telephone
0860-123-263(RSA only)/+27-21-416-6011(Outside SA)

  • Fund management  
Taquanta Asset Managers


  • Fund manager's comment

Negroup Inv Core Guarded comment - Mar 18

2018/05/30 00:00:00
FUND COMMENTARY
The past quarter saw big drops across equities and listed property with South African listed property being hit the hardest. The local Core Range's SA listed property allocation only includes Real Estate Investment Trusts (REITS) which did not suffer nearly as much as the Real Estate Holding & Development shares; REITS were down by only 13.4% while the Holding & Development shares were down by 31.2% over the quarter. In the local Core Range the Real Estate Holding & Development shares are included under SA equity which therefore resulted in its benchmark returning 8.2% over the past 12 months, versus the 9.4% of the standard SWIX index. The SA equity carve-out in the three local funds were up between 7.7% and 9.2% across, the differences arising due to larger transaction cost on the newer Core Accelerated Fund which has grown rapidly over this period. For reference, a balanced fund typically incurs around 0.15% in transaction costs (brokerage and Securities Transfer Tax (STT)) every time it doubles in size. For this reason we subsidised all asset management related fees in the Core Accelerated fund until it reached R100 million to reduce the impact of transaction cost on the portfolios returns while the fund is small.
South African fixed income provided some downside protection to the local Core Range with SA bonds delivering the best returns over the past 12 months, up 16% in the Core Diversified Fund. The cash holdings in the Core Guarded and Core Diversified Funds benefitted from the 2% yield pickup vs STeFI Call, partly due to their holdings in the Nedgroup Investments Core Income, Nedgroup Investments Money Market and Nedgroup Investments Corporate Money Market Funds.
On the offshore side, the Nedgroup Investments Core Global Fund (USD) which is used in the local Core Range, experienced double digit growth over the past 12 months. This was mainly due to global equities having a very good year. However, due to the significant strengthening of the rand towards the end of the year, the rand returns of the offshore portion in the local Core Range and the Nedgroup Investments Core Global Feeder Fund were muted.
  • Fund focus and objective  
The portfolio is suitable for conservative investors requiring a reasonable level of capital protection, with the potential for capital growth through a low exposure to equity markets relative to the average prudential portfolio and aims to provide low cost exposure to a range of local and global asset classes. The portfolio complies with Regulation 28 of the South African Pension Funds Act.
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