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

0  /  0%

100

NAV on 2019/07/23
NAV on 2019/07/22 100
52 week high on 2018/07/25 100
52 week low on 2018/07/25 100
Total Expense Ratio on 2019/03/31 0.58
Total Expense Ratio (performance fee) on 2019/03/31 0
NAV Incl Dividends
1 month change 0% 0.58%
3 month change 0% 1.81%
6 month change 0% 3.59%
1 year change 0% 7.38%
5 year change 0% 7.16%
10 year change 0% 6.44%
Price data is updated once a day.
  • Sectoral allocations
Gilts 627.61 4.43%
Liquid Assets 2805.66 19.82%
Money Market 10719.51 75.74%
  • Top five holdings
MM-01MONTH 2422.42 17.12%
MM-03MONTH 1483.64 10.48%
MM-02MONTH 1112.87 7.86%
MM-10MONTH 929.77 6.57%
MM-12MONTH 795.50 5.62%
  • Performance against peers
  • Fund data  
Management company:
Old Mutual Unit Trust Managers (RF) (Pty) Ltd.
Formation date:
1998/08/26
ISIN code:
ZAE000020749
Short name:
U-OMMM
Risk:
Unknown
Sector:
South African--Interest Bearing--Money Market
Benchmark:
Alexander Forbes Short Term Fixed Interest (STeFI) Index
Contact details

Email
unittrusts@oldmutual.com

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

Telephone
021-503-7100

  • Fund management  
Michael van Rensburg
Michael started his career on the Money Market desk of the Department of Post and Telecommunications. As a Money Market Manager his primary functions were the daily management of cash flows and the investment of surplus funds. He was also responsible for the start-up of the Commercial Paper Bill program and the successful implementation of the counterparty credit limits. After three years on the Money Market desk he moved to the Capital Market as a market maker for Telkom long-term debt. He subsequently joined ABSA where he worked as a market maker for their Treasury Division. Prior to joining Old Mutual Asset Managers, Michael worked for Sanlam Asset Managers as head of Fixed Income Trading.
Michael currently heads up Old Mutual Asset Manager's Fixed Income Trading desk. In addition, he also manages the Old Mutual Money Market Fund, the Namibia Money Fund as well as a number of aggressive bond funds.


  • Fund manager's comment

Old Mutual Money Market comment - Sept 18

2018/12/13 00:00:00
There was a general depreciation in emerging market currencies, including the rand, over the quarter following the devaluing of the Turkish lira in July. Despite this weakening, however, domestic consumer price inflation figures did surprise on the downside last quarter and, in addition to providing some relief to the local economy, also allowed the South African Reserve Bank to keep the repo rate unchanged at both the July and September Monetary Policy Committee meetings. Elsewhere, the Federal Open Market Committee in the US continued with their rate normalisation programme and hiked the fed funds target rate by 25 basis points (bps) in September.
Following the depreciation in the rand, there was a further steepening in the forward rate agreement (FRA) curve towards the beginning of last quarter, with the markets pricing in the potential for three rate hikes over the coming year. Further to this, there was also a widening in the spread between the three- and 12-month JIBAR rates, which towards the end of August stood at around 140bps.
At present, we maintain our view of rates remaining unchanged for the rest of the year and, given the steepening in the negotiable certificate of deposit (NCD) curve over the quarter, we opportunistically bought 12-month fixed rate assets at spreads that we believe offered value. That said, we have also been buyers of floating rate assets. These assets were purchased at attractive spreads and helped in managing the interest rate risk in the fund. In addition, we have also been active participants at the weekly Treasury Bill auction, as they are currently still trading at a premium to bank NCDs, especially at the front end.
  • Fund focus and objective  
The fund aims to deliver a regular income and to outperform bank deposits over time, while preserving capital. The fund invests in money market securities with a maturity of less than 12 months. The fund's average maturity may not exceed 90 days.
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

SHOP NEWSLETTERS TRENDING CPD HUB

Follow us:

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