MONITOR THIS FUND
Become an Insider Gold member to monitor your funds.

0.08  /  0.06%

124.17

NAV on 2019/07/22
NAV on 2019/07/19 124.0924
52 week high on 2019/06/28 127.9573
52 week low on 2018/07/23 122.5644
Total Expense Ratio on 2019/03/31 1.54
Total Expense Ratio (performance fee) on 2019/03/31 0
NAV Incl Dividends
1 month change -2.91% 0.61%
3 month change -1.45% 2.13%
6 month change 0.66% 4.31%
1 year change 1.31% 8.72%
5 year change 0.32% 7.01%
10 year change 2.71% 8.36%
Price data is updated once a day.
  • Sectoral allocations
Financials 1.20 0.10%
Fixed Interest 276.37 23.78%
General Equity 0.00 0.00%
Gilts 749.00 64.45%
Liquid Assets 33.97 2.92%
Managed 19.97 1.72%
Money Market 69.58 5.99%
Other Sec 11.91 1.03%
  • Top five holdings
U-SBKIMM 139.03 11.96%
U-METINC 52.06 4.48%
MM-10MONTH 50.75 4.37%
U-SLINCR 43.27 3.72%
U-OMINC 42.03 3.62%
  • Performance against peers
  • Fund data  
Management company:
STANLIB Collective Investments (RF) Limited
Formation date:
2008/08/01
ISIN code:
ZAE000151981
Short name:
U-NOBLFLX
Risk:
Unknown
Sector:
South African--Multi Asset--Flexible
Benchmark:
CPI plus 5% (net of fees)
Contact details

Email
contact@stanlib.com

Website
http://www.stanlib.com

Telephone
011-448-6000

  • Fund management  
Piet de Jongh
Pieter van Zyl


  • Fund manager's comment

Noble PP STANLIB Flexible Fund - Mar 19

2019/05/30 00:00:00
World Economy
US Federal Reserve officials scaled back their projected interest rate increases this year to zero and said they would end the drawdown of the central bank’s bond holdings in September after holding policy steady. The S&P500 index closed the quarter 13% better than it started and within just 5% of all-time highs set ahead of the September meltdown. Investors are banking on a slowing in US interest rate and a mature solution to the threatened trade war between the US and China. The Chinese PMI index rose to a six-month high of 50.5 in March, ahead of economists’ forecasts. Its recovery will ease fears that China’s economy was losing steam after the country posted 6.4% growth for the final three months of 2018 - its slowest expansion in a decade. UK Prime Minister Theresa May said she would ask the EU for a further delay for Brexit beyond April 12 to give her time to sit down with the opposition Labour Party in a bid to break the impasse over Britain’s departure from the bloc.
SA Economy
The South African Reserve Bank left the repurchase rate unchanged at 6.75% as the Monetary Policy Committee indicated that there was little evidence of demand-side pressures to the economy. The JSE All Share Index ended up 7% for the quarter. Moody's released a credit opinion on SA in which it said SA's economic and fiscal performance was in line with other countries that had a Baa3 rating ( the lowest investment-grade ranking). Petrol will increase by R1.34 per litre from April. Also kicking in is the General Fuel Levy, which rises by 5c/l and the Road Accident Fund Levy, by 15c/l. South Africans will also pay 9.41% more for electricity at the end of April, as announced by NERSA. The seasonally-adjusted Absa Purchasing Managers' Index fell for a third consecutive month in March, a survey showed. SA’s trade balance improved in February to +R4 billion, after a very substantial deficit of -R13 billion in January 2019. During March, exports of vehicles surged R8.5 billion while machinery imports declined by R4.2 billion. In the first quarter of 2019 the new car market was down 8.7% compared with 2018. In March, SA new vehicle exports leapt 23.7% from the corresponding month in 2018.
Trends and Opportunities
- The consensus US GDP growth estimate for 2019 is currently 2.4%. - SA headline inflation is expected to average 4.8% in 2019, before increasing to 5.3% in 2020 and moderating to 4.7% in 2021. - SARB revised down its growth forecast for 2019 to 1.3% from 1.7%. 'The intelligent investor is a realist who sells to optimists and buys from pessimists.' ... -Benjamin Graham, Author of The Intelligent Investor.
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 Flexible Fund is a flexible portfolio that aims to provide investors with consistent inflation-beating total returns, whilst minimizing downside risk. The portfolio may invest in financially sound local equity securities, bonds, property shares, property related securities, preference shares, money market instruments and assets in liquid form. The portfolio may also invest in participatory interests and other forms of participation in South African portfolios of collective investment schemes or other similar schemes operated in territories with a regulatory environment which is to the satisfaction of the manager and trustee of a sufficient standard to provide investor protection at least equivalent to that in South Africa and which is consistent with the portfolio's primary objective. The Manager may make active use of derivatives to reduce the risk that a general decline in the value of equity, property and bond markets may have on the value of the portfolio. The manager shall have the maximum flexibility to vary assets between the various asset classes to reflect the changing economic and market conditions.
Insider GOLD
ONLY R63pm

Moneyweb's premium subscription is a membership service which will give you access to a number of tools to take charge of your investments.
Or choose a yearly subscription at R630pa - SAVE R126

Get instant access to all our tools and content. Monthly subscription can be suspended at any time.

Podcasts

SHOP NEWSLETTERS TRENDING CPD HUB

Follow us:

Search Articles:Advanced Search
Click a Company:
server: 172.17.0.2