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0.04  /  0.02%


NAV on 2019/09/18
NAV on 2019/09/17 213.43
52 week high on 2019/09/18 213.47
52 week low on 2018/09/19 199.01
Total Expense Ratio on 2019/06/30 0.66
Total Expense Ratio (performance fee) on 2019/06/30 0
NAV Incl Dividends
1 month change 0.57% 0.57%
3 month change 1.77% 1.77%
6 month change 3.6% 3.6%
1 year change 7.29% 7.29%
5 year change 7.1% 7.1%
10 year change 6.39% 6.39%
Price data is updated once a day.
  • Sectoral allocations
Liquid Assets 156.12 4.99%
Offshore 2970.16 95.01%
  • Top five holdings
  • Performance against peers
  • Fund data  
Management company:
Old Mutual Unit Trust Managers (RF) (Pty) Ltd.
Formation date:
ISIN code:
Short name:
Namibian Call Rate
Contact details




  • Fund management  
Tyrone van Wyk
Tyrone joined Old Mutual Investment Group Namibia (OMIGNAM) in January 2004 as an investment analyst.
As a member of the Namibian team, he is responsible for overseeing the Namibian investment processes and the overall performance of funds under management.
Prior to joining OMIGNAM, he was a trainee accountant at PricewaterhouseCoopers for three years.
Tyrone has seven years' experience in the asset management industry, and 10 years' experience in the financial services industry.
Yvonne Mwilima

  • Fund manager's comment

Old Mutual Nedbank Namibia Corp comment - Jun 19

2019/08/16 00:00:00
During the second quarter of 2019 the money market curve continued to flatten, with the long and short rates coming down. On the short-end the 3-month Jibar dropped from 7.15% in the first quarter to 7.02% in the second quarter. The 12-month Jibar rate however decreased substantially more than the 3-month Jibar, from 8.20% in March to 7.74% in June. The spread between the three- and 12-month JIBAR decreased from 110bsp to 72bsp during the quarter.
The quarter did not start in favour of the rand, with trade tensions flaring up again and poor SA first quarter GDP numbers being released. The rand had a rather volatile quarter, weakening substantially to reach 15.00 to the US dollar by the sixth of June and then recovering gradually to hit 14.08 to the US dollar by the end of June. Overall though the rand managed to recover and strengthened slightly over the quarter; this can mainly be attributed to trade war tension easing and rate cuts in the US being priced in. This volatility in the currency without any real direction confirms the South African economy still requires structural changes for a path to sustainable recovery.
The South African inflation (CPI) increased slightly by 0.4% - from 4.1% end of February to 4.5% by end of May. Namibian inflation on the other hand continued to decrease. Namibian CPI decreased from 4.42% end of February to 4.08% end of May.
Given the spread between the 3-month and 12-month Treasury bill rates, we believe there is relative value in the shorter end and the belly of the curve and will continue to add to that position. The gap between Namibian Treasury bills and negotiable certificates of deposit (NCDs) closed significantly and we were able to pick up some NCDs equivalent to the Treasury bill rates. The fund’s outperformance of the benchmark continues.
  • Fund focus and objective  
The fund aims to deliver a regular income and to outperform bank deposits over time, while preserving capital.
This fund is suited to investors who want a liquid investment that delivers a regular income and/or maximum capital protection, but who understand that their investment is unlikely to keep pace with inflation if held in the long term. It is also suitable for investors wanting to reduce timing risks by phasing a lump sum into the stock market over time.
The fund invests in money market securities with a maximum average maturity of 180 days. At least 35% of the portfolio is invested in Namibian instruments.
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