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0.74  /  0.35%


NAV on 2019/07/18
NAV on 2019/07/17 208.25
52 week high on 2019/06/13 214.13
52 week low on 2019/01/02 199.11
Total Expense Ratio on 2019/03/31 0.9
Total Expense Ratio (performance fee) on 2019/03/31 0
NAV Incl Dividends
1 month change -2.01% 0.14%
3 month change -1.37% 0.79%
6 month change 3.71% 5.99%
1 year change 2.66% 7.23%
5 year change 0% 0%
10 year change 0% 0%
Price data is updated once a day.
  • Sectoral allocations
Basic Materials 0.92 0.71%
Consumer Goods 0.33 0.25%
Consumer Services 0.55 0.42%
Financials 7.36 5.67%
Fixed Interest 24.10 18.57%
General Equity 25.57 19.70%
Gilts 36.59 28.20%
Health Care 0.13 0.10%
Industrials 0.24 0.19%
Liquid Assets 3.84 2.96%
Spec Equity 20.56 15.84%
Technology 0.50 0.39%
Telecommunications 0.23 0.18%
Offshore 8.84 6.81%
  • Top five holdings
U-OMCAPSX 25.57 19.7%
U-OMMM 24.10 18.57%
U-OMWRESG 18.79 14.48%
U-OMEMESG 1.77 1.36%
 GROWPNT 1.36 1.05%
  • Performance against peers
  • Fund data  
Management company:
Old Mutual Unit Trust Managers (RF) (Pty) Ltd.
Formation date:
ISIN code:
Short name:
South African--Multi Asset--Low Equity
Contact details




  • Fund management  
Kingsley Williams
Kingsley is the Chief Investment Officer for local and international fund management. He joined OMGxT in March 2008 as a fund manager and is responsible for the overall fund management process and the performance of the funds. He is also a member of the OMGxT Executive Committee.
Kingsley has served in various capacities within the business, from daily fund management responsibilities to Head of Research and Product Development. Prior to joining OMGxT, Kingsley was a business and quantitative analyst at Stanlib Asset Management from 2004 – 2007. Kingsley began his career in 2000 with Merrill Lynch and has 15 years of investment related work experience.
Shariefa Parker

  • Fund manager's comment

Old Mutual Core Conservative comment - Sept 18

2018/12/12 00:00:00
The broad South African equity market exposure in the fund is primarily through an allocation to the FTSE/ JSE Capped Shareholder Weighted Index (Capped SWIX), which is intended to be a fairer reflection of the investment universe available to a South African investor. The Capped SWIX, which has a strategic weighting of 25% in the fund, returned -1.65% for the quarter ending September 2018.
Sector performances were mixed; however, the industry sectors that delivered the best performance for the quarter were technology and basic materials, which returned 10.43% and 5.22% respectively. Healthcare and telecommunications were the worst performers for the quarter, returning -20.42% and -11.86% respectively.
In addition to the broad local equity market exposure, the fund also has exposure to SA listed property with a strategic weight of 5%. The JSE SA Listed Property Index returned -1.01% for the quarter ending September 2018.
The international equity exposure is invested in the MSCI All Country World ESG Index, which has a strategic weighting of 12.5% and offers exposure to both developed and emerging markets globally. The MSCI All Country World ESG Index had a positive quarter and returned 4.42% in US dollar terms. The rand depreciated against the US dollar by 3.06% over the quarter, which would have increased the returns to South African investors.
To diversify the fund away from equity, the fund invests in nominal bonds through exposure to the JSE All Bond Index (ALBI), which has a strategic weighting of 20%. The JSE ALBI gained 0.81% over the quarter. All duration bands were positive over the quarter, with the longer end of the curve underperforming the shorter end with returns of 0.42% for the greater than 12-year maturity band. The shorter one- to three-year band returned 1.86%.
In addition to the nominal bond exposure, an allocation is also made to inflation-linked government bonds through exposure to the JSE IGOV Index, which has a strategic weight of 10%. The JSE IGOV index gained 0.46% over the quarter.
  • Fund focus and objective  
The Old Mutual Core Conservative Fund will be a diversified multi-asset portfolio with minimum 50% exposure to passively managed securities for purposes of portfolio construction and asset allocation. The investible universe of the respective passively managed asset class exposures will be limited to appropriate indices compiled and published by a recognised index compiler. The Manager shall, in selecting securities for this portfolio, seek to provide investors with an investment medium with the objective to provide cost-efficient long term growth of capital and income.
This portfolio will have maximum 40% exposure to equities commensurate with the exposure typically displayed by multi asset low equity portfolios. In order to achieve the portfolio's investment objectives, the Old Mutual Core Conservative Fund may have exposure to listed and unlisted equity securities, listed and unlisted non-equity securities, listed and unlisted property securities, listed and unlisted derivatives for efficient portfolio management purposes, assets in liquid form and other listed and unlisted securities as may be allowed by the Act from time to time.
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