0.71  /  0.24%

296.69

NAV on 2020/10/23
NAV on 2020/10/22 295.98
52 week high on 2019/12/27 328.2
52 week low on 2020/03/26 286.56
Total Expense Ratio on 2020/06/30 1.64
Total Expense Ratio (performance fee) on 2020/06/30 0
NAV
Incl Dividends
1 month change 0.86% 0.86%
3 month change 0.47% 0.47%
6 month change 1.75% 3.71%
1 year change -8.74% -5.03%
5 year change -2.58% 1.06%
10 year change 1.1% 4.51%
Price data is updated once a day.
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  • Sectoral allocations
Basic Materials 8.98 12.59%
Consumer Goods 2.45 3.44%
Consumer Services 0.73 1.02%
Derivatives -0.12 -0.17%
Financials 12.69 17.79%
Industrials 6.84 9.59%
Liquid Assets 6.60 9.25%
Money Market 13.01 18.24%
SA Bonds 14.78 20.72%
Technology 4.21 5.90%
Telecommunications 1.16 1.62%
  • Top five holdings
MM-12MONTH 6.00 8.41%
MM-05MONTH 5.01 7.03%
 NASPERS-N 4.21 5.9%
 BHP 1.97 2.76%
 SASOL 1.94 2.72%
  • Performance against peers
  • Fund data  
Management company:
Old Mutual Unit Trust Managers (RF) (Pty) Ltd.
Formation date:
2005/02/01
ISIN code:
ZAE000063392
Short name:
N-OMDYNAM
Risk:
Unknown
Sector:
Regional--Namibian--Unclassified
Benchmark:
CPI
Email
unittrusts@oldmutual.com

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

Telephone
021-503-7100

  • Fund management  
Hanno Niehaus
Hanno is currently part of the portfolio management team responsible for managing retail and institutional assets. His responsibilities include managing multi-asset class funds, as well as local and international equity portfolios.Before joining Old Mutual Investment Group, Hanno worked in the UK for two years.Since joining Old Mutual in 1998, Hanno has been involved in the management ofderivative, multi-asset class funds, equity portfolios and hedge funds.
Ziyaad Parker


  • Fund manager's comment

Old Mutual Namibia Dynamic Floor comment - Dec 19

2020/02/21 00:00:00
Q4 2019 saw some optimism return to global asset markets, as a US-China trade agreement to partially roll back tariffs, increase agricultural purchases and ensure intellectual property protection, was reportedly reached. The quarter kicked off with the US Federal Reserve cutting rates by 25 basis points for the third consecutive time, although it hinted at a pause in further policy easing. In the UK, the Conservative Party's majority election win has provided some political stability, paving the way for the Brexit date currently set at 31 January 2020. Concerns around a slowdown in global economic growth does however persist, and it remains to be seen for how long central banks can continue with monetary policy easing.
Locally, a disappointing Medium-Term Budget Policy Statement (MTBPS) delivered in October prompted a sharp negative reaction in bond markets. While a timeline was laid out for the restructuring of Eskom into three separate units, there was no firm detail on debt restructuring or cost reduction. This culminated in both Moody’s and S&P placing South African sovereign ratings on a negative outlook during the course of November. Despite the poor growth outlook and inflation numbers that keep surprising on the downside, the SA Reserve Bank opted to keep rates on hold, which will no doubt maintain pressure on severely indebted local consumers. Despite the gloomy local backdrop, the FTSE/JSE All Share Index reversed the losses of the previous quarter, advancing 4.6% in Q4, with the MSCI Emerging Markets Index returning 11.8% in US dollar terms. The rand advanced 7.5% over the quarter relative to the US dollar, ending the quarter at R14 to the US dollar. In line with the strong local equity market performance over the quarter, we have utilised some of our available risk-budget to increase effective equity exposure, from around 36.9% at the start of the quarter to around 40.9% at quarter-end.
Given the well-diversified nature of the Namibian Dynamic Floor Fund and its moderate exposure to growth assets, the fund will continue to deliver returns in a risk-controlled framework with reduced volatility. The portfolio is still well positioned to meaningfully participate in any further equity market rallies. We do, however, remain cautious and are well placed to protect capital should 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 focus and objective  
The fund strives for long term capital growth as well as some level of capital protection, aiming to protect at least 90% of the net investment over a 12-month period. Through the use of a quantitative risk model, the fund aims to profit from a rising share market and protect against capital losses in a weak market. The fund invests across Namibian and South African shares, bonds and cash - moving from shares into fixed interest investments when the fund's value drops below a predetermined 'floor'. When markets start to move up, the fund increases its holdings in shares, tapping into these growth opportunities. The fund conforms to legislation governing retirement funds.
The fund is ideally suited to the more risk-averse investor whose priority is capital preservation but who still wants to participate in upside market growth. It suits investors who want:
* Protection of invested capital
* The level of capital protection to follow markets upwards
* Active equity management
The fund is also ideal for investors nearing or in retirement who want to protect their capital base, but still want access to some level of growth.
This is a moderate risk fund (risk rating 3). The risk management model aims to protect the portfolio value at a forward 'floor' level. The model will adjust the portfolio's asset allocation dynamically to protect capital. This form of portfolio protection is not a guarantee, but clearly a protective strategy only. The protective strategy is effective over typical 12-month rolling periods. Short term fund value fluctuations can occur. Alternative investment instruments will be used tactically to manage and limit downside risk, and to capture or lock in gains as and when they occur.
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