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7.42  /  0.48%


NAV on 2019/09/16
NAV on 2019/09/13 1542.82
52 week high on 2018/11/07 1649.34
52 week low on 2019/08/23 1448.44
Total Expense Ratio on 2019/03/31 1.74
Total Expense Ratio (performance fee) on 2019/03/31 0
NAV Incl Dividends
1 month change 6.12% 6.12%
3 month change -0.14% 1.06%
6 month change -3.55% -2.38%
1 year change -4.52% -2.68%
5 year change -4.06% -2.1%
10 year change 6.82% 8.74%
Price data is updated once a day.
  • Sectoral allocations
Basic Materials 93.14 13.47%
Consumer Goods 70.00 10.13%
Consumer Services 135.72 19.63%
Cyclical Services 0.00 0.00%
Financials 162.57 23.52%
Fixed Interest 28.00 4.05%
Health Care 15.37 2.22%
Industrials 151.44 21.91%
Liquid Assets 0.88 0.13%
Technology 15.15 2.19%
Telecommunications 19.07 2.76%
  • Top five holdings
 ITLTILE 37.10 5.37%
 REINET 30.23 4.37%
U-OMMM 28.00 4.05%
 RMIH 26.20 3.79%
 IMPLATS 23.20 3.36%
  • Performance against peers
  • Fund data  
Management company:
Old Mutual Unit Trust Managers (RF) (Pty) Ltd.
Formation date:
ISIN code:
Short name:
South African--Equity--Mid and Small Cap
ASISA Category Average
Contact details




  • Fund management  
Kayalethu Nodada
Kayalethu Nodada joined Old Mutual Equities in June 2015 as an equity analyst. He is currently responsible for various shares in the industrial sector, predominantly food producers, which he combines with experience gained analysing retail and healthcare sectors.
Kayalethu Nodada has four years of work experience in asset management.

  • Fund manager's comment

Old Mutual Mid & Small-Cap comment - Jun 19

2019/08/16 00:00:00
The small cap and mid-cap indices ended the quarter flat, returning 0.1% and -0.4%, respectively in the quarter ending 30 June 2019. The rand dollar exchange rate also ended the quarter marginally stronger with the rand gaining 0.4% against the dollar.
We continued to see disappointing trading results from SA Inc. companies. As the macro economy and the consumer remain under pressure, companies are struggling to recover their cost increases through price increases (revenue growth). Netcare’s first-half results reflected the ongoing pressure on revenue growth and the impact of the medical aids trying to lower costs of healthcare for consumers. The combination of tough operational performance and high debt levels was highlighted in the Omnia numbers, which culminated in the company announcing the need for a rights issue. On the other hand, Telkom continues to take share in the mobile sector, which was evident in its recent numbers.The share has been a strong performer in the quarter.
Resources continued their good run this year, driven by a variety of factors: the Brazilian tailings dam collapse leading to a run in the iron ore price, the PGM basket reacting to increased global emissions standards combined with an ongoing shortage in palladium, and the gold price regaining its status as a safe haven. We took our resources exposure through AngloGold and added to Harmony Gold and Impala Platinum, which were up for the quarter.
As anticipated, the elections ran smoothly and the president’s cabinet appointments have largely been positive. We do still believe that a recovery in South Africa will happen, but that it will be a long and slow process. We continue to position the portfolio to capitalise on the value, price the risk, and try to avoid as much of the uncertainty as possible.
Based on our forecasts, we believe that the Old Mutual Mid & Small-Cap Fund is trading on a forward price:earnings (PE) ratio of 10.5 times, and its rolling dividend yield is 3.9%.
  • Fund focus and objective  
The fund aims to offer superior returns over the medium to longer term by investing in companies with a market capitalisation smaller than the company with the lowest market capitalisation listed on the FTSE/JSE Large Cap Index (J205). This fund is suited to investors seeking long-term capital growth by investing in a focused portfolio of mid- and small cap companies. These investors can tolerate stock market volatility. The fund invests in established companies with a market capitalisation smaller than the company with the lowest market capitalisation listed on the FTSE/JSE Large Cap Index (J205). The fund aims to achieve its performance objectives through superior share selection. Derivatives may be used for efficient portfolio management purposes.In order to achieve the fund objective the portfolio manager may choose to gain exposure to the described assets and asset classes by investing through OMLACSA pooled portfolios, collective investment schemes or a combination thereof.
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