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9.96  /  0.98%

1014.93

NAV on 2019/09/16
NAV on 2019/09/13 1004.97
52 week high on 2019/04/24 1043.28
52 week low on 2019/01/04 950.14
Total Expense Ratio on 2019/06/30 1.35
Total Expense Ratio (performance fee) on 2019/06/30 0
NAV Incl Dividends
1 month change 4.6% 4.6%
3 month change -1.22% 0.11%
6 month change 0.08% 1.43%
1 year change -1.72% 1.08%
5 year change 3.9% 6.28%
10 year change 7.69% 10.22%
Price data is updated once a day.
  • Sectoral allocations
Basic Materials 46.80 7.54%
Consumer Goods 29.95 4.83%
Financials 93.77 15.11%
Gilt 2.00 0.32%
Gilts 1.40 0.23%
Industrials 67.85 10.94%
Liquid Assets 77.91 12.56%
Other Sec 6.25 1.01%
Spec Equity 46.91 7.56%
Technology 22.26 3.59%
Telecommunications 9.22 1.49%
Offshore 216.10 34.83%
  • Top five holdings
U-OMGLOB 46.91 7.56%
ACADIANGLOEQU 27.55 4.44%
OLDMUTVLEGLO 26.40 4.25%
 NASPERS-N 22.26 3.59%
ANGLO-NSX 18.36 2.96%
  • Performance against peers
  • Fund data  
Management company:
Old Mutual Unit Trust Managers (RF) (Pty) Ltd.
Formation date:
1999/11/15
ISIN code:
ZAE000022992
Short name:
N-OMMANF
Risk:
Unknown
Sector:
Regional--Namibian--Unclassified
Benchmark:
The fund aims to outperform the category average
Contact details

Email
unittrusts@oldmutual.com

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

Telephone
021-503-7100

  • Fund management  
Warren van der Westhuizen
Warren is a portfolio manager and a member of MacroSolutions’ equity portfolio team. In addition to this, he is responsible for analysing the boutique’s internal systems to source investment ideas. He also undertakes research and analysis on behalf of the equity team.
He was a performance analyst at Old Mutual Investment Group for approximately three years, prior to joining the boutique in 2005.
Graham Tucker
Graham joined Old Mutual in 2000 and is the portfolio manager of MacroSolutions' range of balanced funds. Before assuming this responsibility in 2014, he was portfolio manager on a number of aggressive funds, including Edge28.
In addition, Graham is MacroSolutions' quantitative strategist, risk manager and a member of the asset allocation group. He is quantitatively driven and adds value through his ability to thoroughly test ideas prior to implementation.
Prior to joining MacroSolutions, Graham was a quantitative analyst in the Quantitative Research Unit (QRU). There he gained experience in the various risk and data systems within Old Mutual Investment Group, and assisted the team leader with the optimisation procedures for the unit's aggressive equity offering.


  • Fund manager's comment

Old Mutual Namibia Managed comment - Jun 19

2019/08/16 00:00:00
The second quarter of 2019 proved eventful on both the global and local fronts. Global macroeconomic conditions have deteriorated, due in part to heightened US-China trade tensions. While there was positive news stemming from the G20 meeting in the last weekend of June, much uncertainty remains on the subject of global trade. The gloomier economic picture has resulted in central banks adopting a looser monetary policy rhetoric. While some central banks have already cut rates, for example India, Australia and Malaysia, many market participants now expect the US Federal Reserve to loosen monetary policy during the second half of 2019.
Locally, the consensus view has moved to a rate cut from the South African Reserve Bank at the next meeting (in July). This follows a particularly poor Q1 GDP print of -3.2% y/y and a subdued inflation outlook. The results in the National Elections in May, together with the stronger and smaller Cabinet announced shortly thereafter, were necessary but unfortunately still not sufficient conditions for the sought-after local economic recovery we require. Government now needs to urgently implement reform plans, with the future of Eskom being the most pressing issue.
All told, local asset classes outperformed their respective global asset classes in the quarter, aided by the strengthening of the rand. Local bonds delivered good returns over this period, ahead of local equities. Global bond yields fell during the quarter, with German bund yields once again falling below zero while global equity markets advanced by 3.8% (MSCI All Country World Index in US dollar terms).
The fund benefited from being tilted away from global assets over the quarter. However, the poor economic growth in South Africa put several of the equity holdings under pressure, thereby detracting from performance. Returns over the last three and five years remain muted given the lacklustre returns from local equities and property.
From a positioning perspective, the fund continues to look for opportunities to reduce global equity exposure. This is primarily due to our view on US equity - valuations appear somewhat demanding and we believe that the fundamentals for US companies are likely to deteriorate over the medium term. Equity markets outside of the US look more attractive from a valuation perspective, but require a catalyst to unlock that value.
One of our key views remains that South Africa looks to be one such attractive region. There remains much to be done to ensure a structural turnaround. However, we believe that following the elections President Ramaphosa will be able to implement his economic recovery plan with greater intensity. The first challenge is to address our precarious fiscal position, a key part of which revolves around the future of Eskom. As this plays out, we would expect confidence to return, slowly at first. The currency positions should benefit initially as the country risk premium unwinds.
A sustainable improvement in economic growth remains a key objective, but is likely to remain elusive in the short term. Accordingly, we would expect the challenges faced by local companies to continue. While valuations have improved somewhat, we remain cautiously positioned with respect to our local equity holdings.
Uncertainty remains a key characteristic of the current environment. However, we are excited by the opportunities that are presenting themselves on a regular basis. We stand ready to take advantage of these opportunities on your behalf
  • Fund focus and objective  
FUND OBJECTIVE
This fund aims to achieve long-term inflation-beating growth. The fund has a growth asset bias and will invest more heavily in shares. The portfolio manager actively allocates to other asset classes to take advantage of changing market conditions and to manage the fund's volatility.
WHO IS THIS FUND FOR?
This fund is suitable for investors wanting moderate to high long-term growth, with less volatility in the short term than pure equity. It is suitable as a standalone retirement investment.
INVESTMENT MANDATE
The fund is exposed to all sectors of the Namibian and South African market (shares, bonds & property). This fund complies with Namibian retirement fund legislation.
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