0.03 /
0.01%
252.09
NAV on 2019/11/20
| NAV on 2019/11/19 |
252.06 |
| 52 week high on 2019/06/20 |
258.26 |
| 52 week low on 2019/01/02 |
245.92 |
| Total Expense Ratio on 2019/09/30 |
1.4 |
| Total Expense Ratio (performance fee) on 2019/09/30 |
0 |
| Basic Materials |
72.62 |
6.60% |
| Consumer Goods |
32.58 |
2.96% |
| Consumer Services |
21.01 |
1.91% |
| Derivatives |
1.50 |
0.14% |
| Financials |
115.38 |
10.48% |
| Gilts |
331.23 |
30.09% |
| Health Care |
2.20 |
0.20% |
| Industrials |
5.46 |
0.50% |
| Liquid Assets |
108.66 |
9.87% |
| Money Market |
283.31 |
25.74% |
| Specialist Securities |
43.67 |
3.97% |
| Technology |
69.88 |
6.35% |
| Telecommunications |
13.21 |
1.20% |
|
MM-02MONTH |
125.18 |
11.37% |
|
MM-01MONTH |
73.06 |
6.64% |
|
NASPERS-N
|
47.32 |
4.3% |
|
U-NEWGOLD |
43.67 |
3.97% |
|
MM-09MONTH |
40.05 |
3.64% |
Management company:
Old Mutual Unit Trust Managers (RF) (Pty) Ltd. |
Formation date:
2008/02/28 |
ISIN code:
ZAE000109476 |
Short name:
U-OMCAPBI |
Risk:
Unknown |
Sector:
South African--Multi Asset--Low Equity |
Benchmark:
Standard Bank call rate for amounts of R1 million |
Shamik Jeewa
Old Mutual Capital Builder comment - Sep 19
2019/10/23 00:00:00
The third quarter saw volatility returns with global events driving markets. In addition to long-running themes of the US-China trade war and Brexit, Middle Eastern political tensions rose with an attack on a Saudi oil facility. This sent both gold and oil prices up as the attack affected around 5% of global oil supply. Locally, we continued to see mixed economic data with our market largely being driven by global flows.
The protected equity component in the fund continued to serve the portfolio well as equity markets were generally down. With the Top 40 Index down around 6% for the period, the fund managed to preserve capital and maintain exposure to risk assets to position itself to meet its long-term inflation target.
The Old Mutual Capital Builder Fund has a combination of protected equity, high yielding fixed income assets as well as exposure to the local property sector. This will allow the fund to participate in any upside if growth assets deliver real returns. We do, however, remain cautious and are well placed to protect capital if markets retrace. This approach has served the portfolio well as it continues to provide the optimal blend of exposure to growth assets and capital protection.
FUND OBJECTIVE
The fund aims to achieve capital protection and stable, tax-efficient growth
in excess of cash returns. The fund targets a gross annual return of 3% above
cash returns over rolling three-year periods, and aims to deliver positive returns
every quarter. Where negative quarters are experienced, the drawdowns are
likely to be relatively small.
WHO IS THIS FUND FOR?
The fund is suited to astute investors who want capital protection and stable, tax-efficient growth in excess of cash returns.
INVESTMENT MANDATE
The fund invests in a broad spectrum of asset classes, including cash, fixed income, listed property and equities. Although equities generally account for between 65% and 75% of the portfolio, derivatives are used to reduce this to an effective equity exposure of 0% to 40%. The fund invests primarily in 20 to 25 large capitalisation shares. The balance of the portfolio is held in cash and money market instruments.
REGULATION 28 COMPLIANCE
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.
