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1.02  /  0.51%


NAV on 2019/07/23
NAV on 2019/07/22 199.12
52 week high on 2018/08/29 216.4
52 week low on 2019/01/02 183.34
Total Expense Ratio on 2019/03/31 1.82
Total Expense Ratio (performance fee) on 2019/03/31 0
NAV Incl Dividends
1 month change -1.16% -0.96%
3 month change -5.03% -3.91%
6 month change 4.95% 6.19%
1 year change -1.01% 1.47%
5 year change 0% 0%
10 year change 0% 0%
Price data is updated once a day.
  • Sectoral allocations
Basic Materials 57.05 19.64%
Consumer Goods 20.40 7.02%
Consumer Services 20.77 7.15%
Derivatives 3.40 1.17%
Financials 55.09 18.97%
Fixed Interest 18.19 6.26%
Health Care 4.83 1.66%
Industrials 16.75 5.77%
Liquid Assets 3.33 1.14%
Spec Equity 54.20 18.66%
Technology 30.59 10.53%
Telecommunications 5.83 2.01%
  • Top five holdings
U-OMGLOB 54.20 18.66%
 NASPERS-N 30.59 10.53%
U-OMMM 18.19 6.26%
 BATS 17.23 5.93%
 SASOL 15.12 5.21%
  • Performance against peers
  • Fund data  
Management company:
Old Mutual Unit Trust Managers (RF) (Pty) Ltd.
Formation date:
ISIN code:
Short name:
South African--Equity--General
Category Average ASISA SA-Equity-General
Contact details




  • Fund management  
Brian Pyle
Brian joined Old Mutual in 1998 and moved to Old Mutual Equities in 2012. In addition to his role as portfolio manager, Brian is the assigned analyst of many companies within the consumer and industrial sectors. Before joining Old Mutual Equities, Brian headed up Old Mutual Investment Group's Equity Research Unit, where he had oversight of a team of specialist equity portfolio managers and analysts. Brian has 19 years of industry experience.
Brian is currently the portfolio manager of the Old Mutual Industrial Fund, an SA based mutual fund. He is also an analyst for the industrial sector.

  • Fund manager's comment

Old Mutual Equity comment - Sept 18

2018/12/13 00:00:00
The local market was weak during the quarter, with the FTSE/JSE SWIX All Share Index declining 3.3%, while it was down 7.8% over the nine months to the end of September. In contrast, the MSCI World Index appreciated 8.5%, in rand terms, over the quarter and 21% over the year to date. The fund’s mandate does allow offshore investment, which provided support to performance relative to peers over the quarter and the year to date. In addition to its exposure to locally listed rand-hedge shares, this fund has just under 20% invested in the Old Mutual Global Equity Fund.
We remain cautious towards our exposure to SA Inc. shares (i.e. companies generating the majority of their earnings locally), given the lack of value among the consumer shares, in particular, which are operating in a very tough environment. Many of the SA Inc. share prices had risen strongly earlier in the year, on the back of continued positive sentiment post the election of Cyril Ramaphosa as ANC president. While the improved sentiment was welcome, the reality is that the economy remains weak.
During the quarter, many of those companies reported results to the end of June 2018. Almost without exception, these results confirmed that earnings remained under pressure. Our interactions with management, customers and suppliers would suggest that growth will be difficult to come by in the year ahead. The environment remains tough and share prices are heavily penalised for any miss on earnings expectations.
Fortunately, the defensive structure of the shares in the fund’s portfolio, with a bias to shares benefiting from a weaker rand, provided protection to the portfolio in a weak market. These include outperforming resources shares such as Sasol, BHP Billiton and Mondi, as well as non-resources shares Investec and Bidcorp. Our emphasis is on patience and discipline, and mining for opportunities in a weak market.
  • Fund focus and objective  
The old Mutual Equity Fund will be a domestic general equity portfolio. In selecting securities for this portfolio, the Manager shall seek to achieve an investment medium for investors which shall have as its main objective high long term capital growth by primarily investing in shares across all sectors of the South African and international stock market. The exposure to South African shares will focus predominantly on the top 100 shares by market capitalisation as listed on the JSE All Share Index (J203).
In order to achieve the portfolio's investment objectives, the Old Mutual Equity Fund may have exposure to listed and unlisted equity securities, listed and unlisted non-equity securities, listed and unlisted property securities, assets in liquid form and other listed and unlisted securities as may be allowed by the Act from time to time.
The portfolio will be permitted to invest in foreign investment markets to the extent of the industry limit from time to time for South African portfolios, as legislation permits.
The portfolio may from time to time include participatory interests or any other form of participation in portfolios of collective investment schemes or other similar schemes registered in the Republic of South Africa, whether listed on an exchange or not, or of participatory interests or any other form of participation in portfolios of collective investment schemes or other similar schemes operated in territories other than South Africa, whether listed on an exchange or not, subject to the requirements of the Act and Notices issued there-under, as may change from time to time.
The Manager will be permitted to invest on behalf of the Old Mutual Equity Fund in listed and unlisted derivatives for efficient portfolio management purposes and as allowed by the act from time to time.
The underlying securities held by this portoflio will never be a mirror of any other existing portfolio of the Manager from a portfolio construction and asset allocation perspective.
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