-4.33  /  -0.35%

1232.61

NAV on 2020/08/07
NAV on 2020/08/06 1236.94
52 week high on 2019/12/30 1652.24
52 week low on 2020/03/23 1030.46
Total Expense Ratio on 2020/03/31 1.18
Total Expense Ratio (performance fee) on 2020/03/31 0
NAV
Incl Dividends
1 month change 1.36% 1.36%
3 month change 5.83% 9.23%
6 month change -21.08% -18.54%
1 year change -18.93% -14.94%
5 year change -9.33% -6.38%
10 year change 2.43% 5.15%
Price data is updated once a day.
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  • Sectoral allocations
Basic Materials 74.42 14.82%
Consumer Goods 55.72 11.09%
Consumer Services 91.29 18.18%
Cyclical Services 0.00 0.00%
Financials 136.14 27.11%
Fixed Interest 18.00 3.58%
Health Care 7.69 1.53%
Industrials 106.67 21.24%
Liquid Assets 0.54 0.11%
Technology 11.77 2.34%
  • Top five holdings
 REINET 30.18 6.01%
 ITLTILE 28.83 5.74%
 RAUBEX 24.80 4.94%
 RMIH 22.52 4.48%
 AFRIMAT 21.44 4.27%
  • Performance against peers
  • Fund data  
Management company:
Old Mutual Unit Trust Managers (RF) (Pty) Ltd.
Formation date:
1997/04/30
ISIN code:
ZAE000020772
Short name:
U-OMSMALL
Risk:
Unknown
Sector:
South African--Equity--Mid and Small Cap
Benchmark:
ASISA Category Average
Email
unittrusts@oldmutual.com

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

Telephone
021-503-7100

  • Fund management  
Kayalethu Nodada
Kayalethu Nodada joined Old Mutual Equities in June 2015 as an equity analyst. He is currently responsible for various shares in the industrial sector, predominantly food producers, which he combines with experience gained analysing retail and healthcare sectors.Kayalethu Nodada has four years of work experience in asset management.


  • Fund manager's comment

Old Mutual Mid & Small-Cap comment - Dec 19

2020/02/24 00:00:00
The small cap and mid-cap indices ended the quarter up, returning 0.4% and 11.2%, respectively in the quarter ending 31 December 2019. The rand/ US dollar exchange rate also ended the quarter stronger, gaining 8.8% against the US dollar.
Resources continued their good run for the year, driven by a variety of factors: the PGM basket reacting to increased global emissions standards, combined with an ongoing shortage in palladium, and the gold price regaining its status as a safe haven, amid global uncertainty driven by the US-China trade war. In the last quarter of 2019, Impala Platinum and Northam Platinum led the charge with share prices going up more than 40% in the quarter. We took our resources exposure through Impala Platinum, Northam Platinum, AngloGold and Harmony Gold, which were up for the quarter. We continued to see disappointing trading results from SA Inc companies. As the macro economy and the consumer remain under pressure, companies are struggling to recover their cost increases through price increases (revenue growth). An example was Invicta Holdings, which had company-specific drivers but also highlighted just how tough this economy continues to be.
However, it was not all doom and gloom for SA Inc. We mentioned in the previous quarter that Wilson Bayly Holmes-Ovcon’s South African order book was starting to improve (albeit off a low base). Well, Raubex released an improving set of results, importantly highlighting a substantial increase in tender activity in South Africa. Our thesis of the last man standing is starting to play out in the construction industry. Following an oversubscribed rights issue, Omnia released results that showed early signs of stabilisation of the business, a focus on initiating a turnaround strategy and improving the capital structure of the business. As a result, this share has been a positive contributor to the performance of the fund this quarter.
We do believe that a recovery in South Africa will happen, but that it will be a long and slow process. We continue to position the portfolio to capitalise on the value, price the risk, and try to avoid as much of the uncertainty as possible.
Based on our forecasts, we believe that the Old Mutual Mid & Small-Cap Fund is trading on a forward price:earnings (PE) ratio of 9.8 times, and its rolling dividend yield is 3.9%.
  • Fund focus and objective  
The fund aims to offer superior returns over the medium to longer term by investing in companies with a market capitalisation smaller than the company with the lowest market capitalisation listed on the FTSE/JSE Large Cap Index (J205). This fund is suited to investors seeking long-term capital growth by investing in a focused portfolio of mid- and small cap companies. These investors can tolerate stock market volatility. The fund invests in established companies with a market capitalisation smaller than the company with the lowest market capitalisation listed on the FTSE/JSE Large Cap Index (J205). The fund aims to achieve its performance objectives through superior share selection. Derivatives may be used for efficient portfolio management purposes.In order to achieve the fund objective the portfolio manager may choose to gain exposure to the described assets and asset classes by investing through OMLACSA pooled portfolios, collective investment schemes or a combination thereof.
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