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NAV on 2019/05/21
NAV on 2019/05/20 222.2159
52 week high on 2018/09/05 227.48
52 week low on 2019/01/04 214.7899
Total Expense Ratio on 2019/03/31 2.71
Total Expense Ratio (performance fee) on 2019/03/31 0
NAV Incl Dividends
1 month change -0.03% -0.03%
3 month change 1.46% 1.46%
6 month change 1.9% 3.68%
1 year change 0.69% 4.17%
5 year change 2.85% 5.78%
10 year change 5.48% 8.58%
Price data is updated once a day.
  • Sectoral allocations
Fixed Interest 270.28 41.61%
General Equity 0.00 0.00%
Liquid Assets -1.12 -0.17%
Managed 380.35 58.56%
Real Estate 0.00 0.00%
Spec Equity 0.00 0.00%
  • Top five holdings
U-NOBLFLX 300.87 46.32%
U-ASHSTNC 65.83 10.14%
U-NEDFLXI 51.50 7.93%
U-CORSTRI 40.89 6.3%
U-SLINCR 40.54 6.24%
  • Performance against peers
  • Fund data  
Management company:
STANLIB Collective Investments (RF) Limited
Formation date:
ISIN code:
Short name:
South African--Multi Asset--Medium Equity
CPI plus 3%
Contact details




  • Fund management  
Piet de Jongh
Pieter van Zyl

  • Fund manager's comment

Noble PP STANLIB Balanced Fund of Funds - Sep 18

2018/12/19 00:00:00
World Economy
Federal Reserve officials raised interest rates for a third time this year and reaffirmed their outlook for further gradual hikes well into 2019. Growth and job gains have been 'strong' and inflation remains near the central bank’s 2% target, the federal open market committee (FOMC) said in its statement. After eight hikes since late 2015, the fed funds rate is now at the highest level since October 2008. Two-thirds of business economists in the US expect a recession to begin by the end of 2020, while many respondents say trade policy is the greatest risk to the expansion, according to a new survey. US confidence indicators have improved more recently, after losing some momentum in Q2 2018. The level of business and consumer confidence argues for continued strong growth. The Japanese market is performing better now, with the Nikkei Index reaching a 27-year high, although the weaker yen is helping. The MSCI Europe Index had a positive return in dollars in the third quarter of +2.3%, but is still negative in 2018 with -1.9%. Brent has risen by more than 20 percent from its most recent lows in August and is currently trading at $85 a barrel.
SA Economy
Employment in South African's non-agricultural formal sector dropped by 69 000 between March and June 2018, Stats SA announced. South Africa's trade balance swung to a surplus of R8.79-billion ($619-million) in August from a revised R5.29-billion deficit in July, data from the revenue agency showed. The Absa Purchasing Managers’ Index (PMI) remained virtually unchanged at a weak level of 43.2 points in September. The price of unleaded 93 petrol will rise 99c, unleaded 95 R1 and diesel R1.24. Illuminating paraffin will cost an additional R1.04 and liquefied petroleum gas (LPG) R1.79 the Central Energy Fund (CEF) announced. The South African new-vehicle market declined by 1.9% in September, compared with the same month last year. Export sales reached a new record in September, gaining 1.2%. The rand lost -2.2% versus the dollar in the third quarter and is now -14.3% versus the dollar in 2018, -10.6% versus the euro and -10.4% versus the pound.
Trends and Opportunities -3% GDP growth is forecast this year and next year in the US. -The FED is expected to gradual raises interest rates well into 2019 -Brent oils is expected to keep hiking for the near future.
'If a window of opportunity appears, don't pull down the shade' - Thomas Peters
The commentary gives the views of the portfolio manager at the time of writing. Any forecasts or commentary included in this document are not guaranteed to occur.
  • Fund focus and objective  
The Noble PP Balanced Fund of Funds is a moderate managed fund of funds. The primary investment objective of the portfolio is to provide the investor with a moderate level of income and capital growth, and will seek to follow an investment policy which will reflect a spread of investments aiming at income and capital growth normally associated with the investment structure of a retirement fund with a moderate risk profile.
The portfolio aims to fulfil the investment needs of the majority of investors, being consistent real returns over the medium to long term, within acceptable risk parameters.
Investments to be included in the Noble PP Balanced Fund of Funds will, apart from assets in liquid form, consist solely of participatory interests in portfolios of collective investment schemes investing in equity securities, property shares, property related securities, non-equity securities and money markets instruments.
For investors seeking a relatively low risk, inflation beating income generating a capital appreciating unit trust which fulfils the investment needs of retired investors or investors nearing retirement, retirement schemes, multi-managers, and individuals with compulsory and voluntary savings via living annuities, preservation funds, retirement annuities and flexible investments.
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