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

6.69  /  0.42%

1601.29

NAV on 2019/03/19
NAV on 2019/03/18 1594.6
52 week high on 2018/09/03 1655.41
52 week low on 2019/01/04 1494.46
Total Expense Ratio on 2018/12/31 1.64
Total Expense Ratio (performance fee) on 2018/12/31 0
NAV Incl Dividends
1 month change 2.3% 2.3%
3 month change 6.02% 7.49%
6 month change -0.96% 0.41%
1 year change 0.6% 3.2%
5 year change 4.28% 6.46%
10 year change 9.06% 11.06%
Price data is updated once a day.
  • Sectoral allocations
Basic Materials 1314.57 7.59%
Consumer Goods 639.31 3.69%
Consumer Services 1419.10 8.19%
Financials 2886.18 16.66%
Gilts 4094.46 23.63%
Health Care 208.13 1.20%
Industrials 1044.55 6.03%
Liquid Assets 523.81 3.02%
Other Sec 194.63 1.12%
Spec Equity 501.36 2.89%
Telecommunications 307.63 1.78%
Offshore 4193.38 24.20%
  • Top five holdings
ACADIANGLOEQU 964.20 5.56%
OLDMUTVLEGLO 939.60 5.42%
 NASPERS-N 642.50 3.71%
OLDMQUAGLO 607.22 3.5%
U-OMGLOB 501.36 2.89%
  • Performance against peers
  • Fund data  
Management company:
Old Mutual Unit Trust Managers (RF) (Pty) Ltd.
Formation date:
1994/03/01
ISIN code:
ZAE000097424
Short name:
U-OMBALAN
Risk:
Unknown
Sector:
South African--Multi Asset--High Equity
Benchmark:
CPI
Contact details

Email
unittrusts@oldmutual.com

Website
http://www.omut.co.za

Telephone
021-503-7100

  • Fund management  
Warren van der Westhuizen
Warren is a portfolio manager and a member of MacroSolutions’ equity portfolio team. In addition to this, he is responsible for analysing the boutique’s internal systems to source investment ideas. He also undertakes research and analysis on behalf of the equity team.
He was a performance analyst at Old Mutual Investment Group for approximately three years, prior to joining the boutique in 2005.
Graham Tucker
Graham joined Old Mutual in 2000 and is the portfolio manager of MacroSolutions' range of balanced funds. Before assuming this responsibility in 2014, he was portfolio manager on a number of aggressive funds, including Edge28.
In addition, Graham is MacroSolutions' quantitative strategist, risk manager and a member of the asset allocation group. He is quantitatively driven and adds value through his ability to thoroughly test ideas prior to implementation.
Prior to joining MacroSolutions, Graham was a quantitative analyst in the Quantitative Research Unit (QRU). There he gained experience in the various risk and data systems within Old Mutual Investment Group, and assisted the team leader with the optimisation procedures for the unit's aggressive equity offering.


  • Fund manager's comment

Old Mutual Balanced comment - Sept 18

2018/12/13 00:00:00
The global equity market delivered good returns for the quarter, but lacked meaningful breadth as US equities (+7.5% in US dollar terms) easily outperformed every other major region. US equities responded to robust economic growth in the region and strong earnings growth reported by the companies during the quarter. Negative sentiment persisted in emerging markets, as China showed signs of slower growth, commodity prices remained under pressure and the likes of Turkey and Argentina reminded investors of the risks of investing in the developing world. Unsurprisingly, emerging market currencies, equities and bonds fell during the quarter, particularly in August and early September.
Local assets, already suffering from the poor emerging market sentiment, were dealt another blow in September as Stats SA announced that our economy had fallen further in the second quarter. Although the rand and the bond market largely recovered their losses by the end of the quarter, the equity market was unable to mount a comeback, ending the quarter slightly lower (-1.7%). The challenging economic environment, reflected in company results and updates, shows little sign of relief in the near term. Aspen was a notable casualty of disappointing the market, losing more than a third of its value in a matter of days. The fund delivered good absolute returns in this tough and volatile quarter. Longer term, the fund has delivered returns in excess of inflation, but below the levels to which we strive. The recent years have been difficult for risk assets, as local economic growth has been weak and many overseas endeavours attempted by companies have yet to bear fruit. That said, the fund has delivered very competitive performance, as reflected in the top quartile positioning over all periods from one to seven years.
Looking forward, we find value in the local bond market, particularly given the recent sell-off. We have steadily increased the fund’s exposure to local government bonds, but only at yields that we believe compensate our clients for the risk. While we believe that South Africa is making progress on the economic reform front, it is slow progress. As such, local assets will benefit in time, yet remain exposed to external and, at times, internal factors for now. Hence, the yield or price we pay for bonds and other local assets is crucial.
Value is firmly embedded in our process. However, the environment going forward must be conducive to unlocking that value and to driving an investment beyond its fair value. One example of this is the heavyweight counter Naspers, which has long been a core holding in the fund. At the beginning of this year we softened our view on that positive outlook. This, in turn, necessitated a lower core position. The result is that our clients benefited in the good times, and have been somewhat protected from the recent volatility in the Naspers share price.
Another good example is Aspen. Aspen has experienced fantastic growth due to acquisitions. However, the fund had no exposure to this stock as we felt the growth story to be unsustainable, the returns to be deteriorating and the valuations to be on the expensive side. Investors in Aspen have now been disappointed and consequently sold the share down sharply.
We aim to grow the real wealth of our clients over the long term through our solutions. While valuations are important, we believe that they need to be viewed in the context of the environment that awaits us. This requires constant vigilance, particularly given the dynamic global landscape.
  • Fund focus and objective  
This fund aims to achieve long-term inflation-beating growth. The fund has a growth asset bias and will invest more heavily in shares. The portfolio manager actively allocates to other asset classes to take advantage of changing market conditions and to manage the fund's volatility. This fund is suitable for investors wanting moderate to high long-term growth, with less volatility in the short term than pure equity. It is suitable as a standalone retirement investment.
The fund is exposed to all sectors of the market (shares, bonds & property) and may invest up to 25% of its portfolio offshore in line with Treasury guidelines. Derivatives may be used for risk management purposes.
The fund complies with retirement fund legislation. It is therefore suitable as a stand-alone fund in retirement products where Regulation 28 compliance is specifically required.
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

GO TO SHOP CART

Follow us:

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