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1.2  /  0.12%

998.12

NAV on 2019/07/23
NAV on 2019/07/22 996.92
52 week high on 2018/09/04 1050.58
52 week low on 2019/01/04 950.14
Total Expense Ratio on 2018/03/31 1.36
Total Expense Ratio (performance fee) on 2018/03/31 0
NAV Incl Dividends
1 month change -2.44% -1.12%
3 month change -4.09% -2.79%
6 month change 2.29% 3.68%
1 year change -0.22% 2.63%
5 year change 3.77% 6.15%
10 year change 8.17% 10.71%
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 - Sept 18

2018/12/12 00:00:00
The global equity market delivered good returns for the quarter, but lacked meaningful breadth as US equities (+7.5% in US dollar terms) easily outperformed every other major region. US equities responded to robust economic growth in the region and strong earnings growth reported by the companies during the quarter. Negative sentiment persisted in emerging markets, as China showed signs of slower growth, commodity prices remained under pressure and the likes of Turkey and Argentina reminded investors of the risks of investing in the developing world. Unsurprisingly, emerging market currencies, equities and bonds fell during the quarter, particularly in August and early September.
Local assets, already suffering from the poor emerging market sentiment, were dealt another blow in September as Stats SA announced that our economy had fallen further in the second quarter. Although the rand and the bond market largely recovered their losses by the end of the quarter, the equity market was unable to mount a comeback, ending the quarter slightly lower (-1.7%). The challenging economic environment, reflected in company results and updates, shows little sign of relief in the near term. Aspen was a notable casualty of disappointing the market, losing more than a third of its value in a matter of days.
The fund delivered good absolute returns over this tough and volatile quarter. Longer term, the fund has delivered returns in excess of inflation, but below the levels to which we strive. The recent years have been difficult for risk assets as local economic growth has been weak and many overseas endeavours attempted by companies have yet to bear fruit. That said, the fund has delivered very competitive performance, as reflected in the top quartile positioning over all periods from two to seven years.
Value is firmly embedded in our process. However, the environment going forward must be conducive to unlocking that value and to driving an investment beyond its fair value. One example of this is the heavyweight counter Naspers, which has long been a core holding in the fund. At the beginning of this year we softened our view on that positive outlook. This, in turn, necessitated a lower core position. The result is that our clients benefited in the good times and have been somewhat protected from the recent volatility in the Naspers share price.
Another good example is Aspen. Aspen has experienced fantastic growth due to acquisitions. However, the fund had no exposure to this stock, as we felt the growth story to be unsustainable, the returns to be deteriorating and the valuations to be on the expensive side. Investors in Aspen have now been disappointed and consequently sold the share down sharply.
We aim to grow the real wealth of our clients over the long term through our solutions. While valuations are important, we believe that they need to be viewed in the context of the environment that awaits us. This requires constant vigilance, particularly given the dynamic global landscape.
  • 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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