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51.29  /  0.14%

37560.82

NAV on 2020/02/17
NAV on 2020/02/14 37509.53
52 week high on 2019/04/23 40901.22
52 week low on 2019/08/27 35346.69
Total Expense Ratio on 2019/09/30 1.16
Total Expense Ratio (performance fee) on 2019/09/30 0
NAV Incl Dividends
1 month change -0.55% -0.55%
3 month change -2.01% 0.74%
6 month change 5.77% 8.74%
1 year change -0.17% 4.27%
5 year change -2.17% 1.32%
10 year change 6.8% 9.73%
Price data is updated once a day.
  • Sectoral allocations
Basic Materials 2480.21 19.16%
Consumer Goods 1303.51 10.07%
Consumer Services 957.97 7.40%
Derivatives -1.72 -0.01%
Financials 4388.78 33.90%
Industrials 968.73 7.48%
Liquid Assets 440.23 3.40%
Real Estate 338.00 2.61%
Specialist Securities 192.39 1.49%
Technology 1026.32 7.93%
Telecommunications 850.91 6.57%
  • Top five holdings
 BATS 1057.97 8.17%
 FIRSTRAND 766.22 5.92%
 NEDBANK 663.96 5.13%
 PROSUS 602.12 4.65%
 ABSA 582.04 4.5%
  • Performance against peers
  • Fund data  
Management company:
Old Mutual Unit Trust Managers (RF) (Pty) Ltd.
Formation date:
1966/10/01
ISIN code:
ZAE000020830
Short name:
U-OMINVES
Risk:
Medium - High
Sector:
South African--Equity--General
Benchmark:
ASISA Category Average
Contact details

Email
unittrusts@oldmutual.com

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

Telephone
021-503-7100

  • 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 - Sep 19

2019/10/23 00:00:00
The local market endured a very volatile quarter with the FTSE/JSE Capped Shareholder Weighted All Share Index (SWIX) declining 5.1% during the quarter. This was a noisy “tweet-driven” quarter dominated once again by Trump vs China trade wars as well as South Africa’s worrying fi scal and economic trajectory. Amidst this uncertainty we saw a very strong performance from resources (precious metals), with gold and platinum shares surging in the quarter.
Platinum group metals (PGMs) continued to benefi t from changing, stricter regulations that allowed demand to continue to grow despite falling car sales in most regions. Despite the high profi le of electric vehicles (EVs), the reality is that for the immediate future, the internal combustion engine (ICE) is the only viable choice for mass transportation. To make ICEs as clean as possible, PGMs are necessary as part of the overall engine management system. The gold price continued to react positively to the rising global uncertainty coupled with volatility. Thus, we saw a strong performance in some of our holdings, namely Impala Platinum (+36.6%) and AngloGold (+11.8%).
There were some additions to the fund this quarter, namely MTN, FirstRand and the construction company WBHO (which generated a return of 30% in the quarter). On the sell side of the ledger we reduced our exposure to Anglo American after a strong performance (driven by strong iron ore prices). We also continued to lighten our exposure to Naspers, running into the Prosus unbundling, particularly at points where Tencent’s valuation looked stretched.
We believe the stage is set for a low growth world. Developed economies are struggling with the headwinds of unfavourable demographics driven primarily by an ageing population. Trade wars signal peak globalisation (globalisation has been favourable for global production effi ciency). The reversal of this is unlikely to benefi t global profi ts. We are witnessing increased regulation (look at healthcare, for instance) and see increased pressure on sustainability. All the above provide what we see as structural headwinds for the global profi t cycle.
It is with these global themes in mind that our focus and emphasis is increasingly attuned to identifying and investing client capital in companies that are attractively valued, possess strong free cash fl ow generation (evidenced by dividends or growth) and strong balance sheets (low leverage). We are more cautious in our investment approach given some of the risks on the horizon. The recent underperformance of domestically focused shares has created attractive valuations. Thus, we are identifying more and more great investment opportunities in domestically focused companies.
  • 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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