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-284.91  /  -0.75%


NAV on 2019/09/18
NAV on 2019/09/17 38426.64
52 week high on 2019/04/23 40901.22
52 week low on 2019/08/27 35346.69
Total Expense Ratio on 2019/03/31 1.16
Total Expense Ratio (performance fee) on 2019/03/31 0
NAV Incl Dividends
1 month change 6.47% 6.47%
3 month change -3.3% -1.76%
6 month change -1.73% -0.17%
1 year change -4.11% -0.94%
5 year change -0.75% 2.4%
10 year change 7.38% 10.06%
Price data is updated once a day.
  • Sectoral allocations
Basic Materials 2749.85 20.75%
Consumer Goods 1056.54 7.97%
Consumer Services 1173.73 8.86%
Derivatives 159.61 1.20%
Financials 4733.57 35.72%
Health Care 11.97 0.09%
Industrials 965.41 7.28%
Liquid Assets 550.96 4.16%
Technology 1325.71 10.00%
Telecommunications 526.04 3.97%
  • Top five holdings
 NASPERS-N 1325.71 10%
 BATS 1056.54 7.97%
 ANGLO 826.58 6.24%
 NEDBANK 754.51 5.69%
 ABSA 707.50 5.34%
  • Performance against peers
  • Fund data  
Management company:
Old Mutual Unit Trust Managers (RF) (Pty) Ltd.
Formation date:
ISIN code:
Short name:
South African--Equity--General
ASISA Category Average
Contact details




  • Fund management  
Siboniso Nxumalo
- 12 years of investment experience
Meryl Pick
Meryl joined Old Mutual Investment Group in February 2012 and is responsible for coverage of gold, packaging manufacturers, heavy equipment distributors and logistics companies. She is also the portfolio manager of the Old Mutual Gold Fund.
Prior to joining, she was a Business Efficiency Manager at ABSA for two years. Prior to this she held various positions within Unilever, including Process Engineering Manager. Meryl has four years of work experience in the asset management industry.

  • Fund manager's comment

Old Mutual Investors comment - Jun 19

2019/08/16 00:00:00
The local market maintained the strong start to the year, with the FTSE/JSE Capped Shareholder Weighted All Share Index (SWIX) rising 1.7% during the quarter. Resources ended the quarter up 2%, holding on to the first quarter’s strong gains. Industrials and financials delivered a combined return of 3.5%. Although the US dollar price for platinum was down 2%, resources were supported by the precious metals sector, with palladium and gold dollar prices up 14% and 9% respectively.
The second quarter saw a convincing national election win for the ANC, which could be interpreted as a strong mandate for President Cyril Ramaphosa and thus an investor-friendly outcome. The disruptive load shedding by Eskom seen in quarter one was also not repeated. Against this positive backdrop, banks gained 7% while consumer stocks rose 5%.
There were significant additions to the fund this quarter, namely British American Tobacco (BATS) and Vodacom, which offer attractive dividend yields. Though BATS faces structural headwinds in the traditional tobacco space, we think the downside risks are more than priced in. Meanwhile, we have continued to lighten our exposure to Naspers, particularly at points where Tencent’s valuation looked stretched. Naspers released more information on the listing of assets on the Euronext exchange, which continued to support the value of the ex-Tencent holdings which were once priced at -R500. Our position in Sasol has been reduced in the face of weak polyethylene prices and a strengthening rand.
The holy grail for us are counters where we see evidence of strong cash flows in the form of dividends, share prices reflecting unrealistic expectations, and resilience provided by strong balance sheets. The cherry on top is a positive catalyst on the horizon to unlock value.
  • Fund focus and objective  
The fund aims to offer superior returns over the medium to longer term through investing in a broad spectrum of local instruments.
This fund is suited to investors seeking long-term capital growth through a broadly diversified portfolio of shares. The investor can tolerate stock market volatility.
It invests in shares across all sectors of the stock market, focusing predominantly on the Top 100 blue-chip shares. The fund aims to achieve its performance objectives through well-researched and superior share selection. Derivatives may be used for efficient portfolio management purposes.
The fund aims to achieve long-term inflation-beating growth, and therefore may hold a higher allocation to equities than what is allowed in terms of Regulation 28 of the Pension Funds Act. This fund is therefore not Regulation 28 compliant.
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