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  •  Noble PP STANLIB Strategic Income Fund of Funds (A)

0.11  /  0.06%


NAV on 2021/02/25
NAV on 2021/02/24 179.8722
52 week high on 2020/02/27 181.9036
52 week low on 2020/04/06 173.6588
Total Expense Ratio on 2020/09/30 2.67
Total Expense Ratio (performance fee) on 2020/09/30 0
Incl Dividends
1 month change 0.27% 0.27%
3 month change 2.23% 2.35%
6 month change 0.94% 3.35%
1 year change -1.02% 3.9%
5 year change 0.82% 5.73%
10 year change 3.84% 7.58%
Price data is updated once a day.
Click and drag to zoom in on timeline.
  • Sectoral allocations
Fixed Interest 77.08 16.68%
General Equity 0.00 0.00%
Liquid Assets 6.18 1.34%
Managed 378.81 81.98%
Real Estate 0.00 0.00%
  • Top five holdings
U-NOBLFLX 288.94 62.53%
U-INVOPPO 50.61 10.95%
U-THYWLTH 43.14 9.34%
U-INVMAN 39.26 8.5%
U-INVHINC 22.26 4.82%
  • Performance against peers
  • Fund data  
Management company:
STANLIB Collective Investments (RF) (Pty) Limited
Formation date:
ISIN code:
Short name:
South African--Multi Asset--Low Equity
CPI plus 1%



  • Fund management  
Piet de Jongh
Pieter van Zyl

  • Fund manager's comment

Noble PP STANLIB Strategic Income FoF - 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 Strategic Income Fund of Funds is conservative managed fund of funds. The objective of this portfolio is to provide the investor with a high level of income combined with relatively low long term 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 conservative retirement fund.
Investments to be included in the Noble PP Strategic Income 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.
This portfolio is ideal for risk averse investors seeking consistent income returns with capital growth, but who do not want to invest in equity markets.
Ideal for retired investors, 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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