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12.27  /  0.15%

8430.21

NAV on 2019/07/23
NAV on 2019/07/22 8417.94
52 week high on 2019/04/08 8981.39
52 week low on 2018/11/27 7165.73
Total Expense Ratio on 2019/03/31 1.17
Total Expense Ratio (performance fee) on 2019/03/31 0
NAV Incl Dividends
1 month change -3.33% -1.48%
3 month change -4.94% -3.12%
6 month change 9.64% 11.73%
1 year change 9.59% 13.42%
5 year change 1.15% 3.74%
10 year change 4.8% 6.6%
Price data is updated once a day.
  • Sectoral allocations
Basic Materials 1097.40 85.97%
Liquid Assets 3.40 0.27%
Offshore 175.63 13.76%
  • Top five holdings
 SASOL 185.93 14.57%
 BHP 181.46 14.22%
 ANGLO 171.28 13.42%
 GLENCORE 124.93 9.79%
 MONDIPLC 97.63 7.65%
  • Performance against peers
  • Fund data  
Management company:
Old Mutual Unit Trust Managers (RF) (Pty) Ltd.
Formation date:
1987/07/01
ISIN code:
ZAE000020848
Short name:
U-OMMF
Risk:
Unknown
Sector:
South African--Equity--Resource
Benchmark:
ASISA Category Average
Contact details

Email
unittrusts@oldmutual.com

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

Telephone
021-503-7100

  • Fund management  
Ian Woodley
Ian joined Old Mutual Investment Group South Africa (OMIGSA) in April 2011. He is responsible for the diversified mining companies and non-mining companies such as steel, forestry and paper.
He also manages the Mining and Resources and Gold Unit Trust Funds.
As a qualified engineer, he started his career on the mines, before becoming a mining analyst. After that he moved to Stanlib (then Liberty), where he headed up their mining research and managed a number of retail and institutional mining and equity funds for over 11 years.
Apart from managing resources funds, his later roles at Stanlib included Member of Exco, Head of Equities, Head of Research, Pension Fund Manager, and General Equity Fund Manager. Most recently, Ian was head of Stanlib's Specialist Equity franchise, responsible for R10.7 billion in assets under management.


  • Fund manager's comment

Old Mutual Mining & Resources comment - Sept 18

2018/12/13 00:00:00
The ongoing threat of a trade war between the US and China, combined with fears of a slowdown in China anyway, kept most commodities under pressure for much of the quarter. Towards the end of the quarter, the dynamics started to change as prices seemed to be reflecting a full-blown slowdown - whereas it appeared that Chinese authorities were ready to start relaxing restrictions and monetary conditions in order to avert such a slowdown. Oil has been stronger than the general commodities universe, benefiting from some supply restrictions, notably the US administration’s sanctions on Iran plus some bottlenecks in US shale production. Both of these conditions should bolster the oil price for the remainder of the year, but could start to dissipate going into 2019. Precious metals were mixed, with the continuing strength in the US dollar and increasing US interest rates keeping the gold price under pressure throughout the quarter. More pleasingly, the palladium price moved up as its fundamentals remained strong and even the platinum price appeared to drag itself off the floor despite substantially weaker forecast supply-demand balances.
Looking ahead to next year is more difficult than usual. Mining companies have generally kept themselves in check and not committed to massive expansions in capacity, despite their strong cash flows. Although there are new projects coming through across the suite of commodities, provided global economic activity is maintained at a reasonable rate, market tightness should be sufficient for commodity prices to be stronger than currently seen. However, the economic outlook is clouded by a number of issues, including: What will be the outcome of the trade wars? Is China slowing down structurally? Can the US continue to grow after the tax stimulus seen this year? What impact will Brexit have on Europe? Longer term, when the politics have been bedded down successfully, the market should adjust to the tighter supply side and, provided demand continues at a reasonable level, there is every expectation that another major upcycle is probable, albeit not at 'supercycle' type levels. During the quarter, the fund increased its holdings in Glencore, South32 and the Palladium ETF, while decreasing its holdings in Mondi, BHP Billiton and Exxaro.
  • Fund focus and objective  
The fund aims to offer superior returns over the medium to longer term by investing in mining and resources companies showing above average prospects for long-term capital growth. The fund invests in mining and resources companies showing above average prospects for growth. Up to 20% of the portfolio may be invested offshore. The fund aims to achieve its performance objectives through well-researched and superior share selection.
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