NAV on 2021/02/25
|NAV on 2021/02/24
|52 week high on 2021/02/16
|52 week low on 2020/03/19
|Total Expense Ratio on 2020/09/30
|Total Expense Ratio (performance fee) on 2020/09/30
Old Mutual Unit Trust Managers (RF) (Pty) Ltd.
South African--Multi Asset--Low Equity
Standard Bank call rate for amounts of R1 million
Old Mutual Capital Builder comment - Dec 19
The last quarter of 2019 was dominated by geopolitical themes. The Trump impeachment, Brexit, trade wars as well rising tensions in the Middle East have dominated investor sentiment through the period. Some of these showed some promise of resolution into the new year. In response to some of the positive news we had a positive end to the year, the MSCI World closed up just under 9% with the Top 40 Index benefiting from the risk- on environment, ending up over 4%.
The protected equity component of the fund benefited from stronger equity markets. The fixed income and credit portions of the fund continued to contribute positively to the fund’s return. As market conditions change we will continue to re-evaluate and move our exposure as required.
The 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
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.
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.