0.06 /
0.06%
101.35
NAV on 2019/11/11
| NAV on 2019/11/08 |
101.29 |
| 52 week high on 2018/11/15 |
102.02 |
| 52 week low on 2019/11/01 |
101.15 |
| Total Expense Ratio on 2019/06/30 |
0.76 |
| Total Expense Ratio (performance fee) on 2019/06/30 |
0 |
| Liquid Assets |
2435.25 |
100.00% |
|
FINANCEINSTIT |
2232.40 |
91.67% |
|
PUBLENTISSPAP |
129.67 |
5.32% |
|
CORPDBTCONVRT |
30.35 |
1.25% |
|
GOVTISSUPAPER |
14.93 |
0.61% |
Management company:
Professional Provident Society Management Company |
Formation date:
2007/05/14 |
ISIN code:
ZAE000089868 |
Short name:
U-PPSENHC |
Risk:
Unknown |
Sector:
South African--Interest Bearing--Short Term |
Benchmark:
Alexander Forbes 3-month (STEFI) Index |
PPS Multi-Managers Proprietary Ltd
PPS Enhanced Yield Fund comment - Mar 19
2019/05/28 00:00:00
This is a stand-alone or building block cash-plus type fund that currently has one underlying manager, namely Taquanta. This manager specialises in cash-type investing applying a cautious corporate investing approach, with a strong yield focus. With equities experiencing a negative 2018, cash-type investments gained favour and investors benefitted from the strong returns earned in this asset class.
The PPS Enhanced Yield continued to deliver strong returns in the first quarter of 2019, by delivering a return of 2.0%, compared to the STeFI 3-month benchmark return of 1.7%. Over the 12-month investment horizon the fund outperformed the benchmark by 1.5% (8.4% vs 6.9%). The conservative nature of the underlying manager is apparent from the lack of any SOE exposure and an almost exclusive use of floating rate securities. This maintains a low modified duration which results in a low capital sensitivity to interest rate hikes.
Investment objective
The PPS Enhanced Yield Fund aims to provide investors with income in excess of its benchmark, while providing capital protection and maintaining a high degree of liquidity. It is also a suitable vehicle for retirement savings.
Investment mandate
The portfolio will not invest in shares. It typically invests in interest-earning securities, such as bonds and fixed deposits. It may invest in listed or unlisted financial instruments. Ratios may vary, to optimise prevailing market conditions. It may also hold units in collective investment schemes or other similar schemes.
