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0.03  /  0.03%

110.1

NAV on 2019/11/14
NAV on 2019/11/13 110.07
52 week high on 2019/06/28 111.1
52 week low on 2019/01/02 108.27
Total Expense Ratio on 2019/06/30 0.68
Total Expense Ratio (performance fee) on 2019/06/30 0
NAV Incl Dividends
1 month change 0.59% 0.59%
3 month change 0.18% 1.99%
6 month change 0.2% 3.85%
1 year change 0.95% 8.49%
5 year change 0.74% 8.27%
10 year change 0% 0%
Price data is updated once a day.
  • Sectoral allocations
Additional 17.82 1.67%
Financials 22.20 2.09%
General Equity 194.74 18.29%
Liquid Assets 765.95 71.96%
Offshore 63.75 5.99%
  • Top five holdings
FINANCEINSTIT 553.59 52.01%
DOMESTICFUNDE 191.08 17.95%
CORPDBTCONVRT 78.11 7.34%
GOVTISSUPAPER 56.79 5.33%
PUBLENTISSPAP 33.25 3.12%
  • Performance against peers
  • Fund data  
Management company:
Professional Provident Society Management Company
Formation date:
2007/05/08
ISIN code:
ZAE000173175
Short name:
U-PPSFLEX
Risk:
Unknown
Sector:
South African--Multi Asset--Income
Benchmark:
BEASSA ALBI (1-3 year Total Return Index)
Contact details

Email
clientservices@ppsinvestments.co.za

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

Telephone
0860-468--777 (INV PPS)

  • Fund management  
PPS Multi-Managers Proprietary Ltd


  • Fund manager's comment

PPS Flexible Income Fund comment - Mar 19

2019/05/28 00:00:00
This is a stand-alone or building block multi-asset flexible fund with active manager selection. The fund’s benchmark consists of South African bonds with less than three years to maturity, but its managers can invest in bonds across the maturity spectrum, as well as hold property, preference shares, floating rate instruments, and other fixed interest assets. Currently the two underlying managers are Prescient and Prudential. Prescient has a more conservative approach, with a strong focus on inflation beating returns, while Prudential is more willing to take a longer duration approach should valuations suggest it prudent. For the first quarter of 2019 the fund delivered a return of 2.1% compared to the benchmark return of 1.9%, with both underlying managers having outperformed as well.
The fund remains conservatively positioned with an overweight allocation to floating rate securities and only a small allocation to domestic property and offshore bonds. Over the 12-month investment horizon the fund has outperformed both the benchmark and the peer group average, while maintaining a comparatively low modified duration.
  • Fund focus and objective  
Investment objective
The PPS Flexible Income Fund aims to provide investors with income in excess of its benchmark, while providing capital protection in times of bond market weakness. It is also a suitable vehicle for retirement savings.
Investment mandate
The portfolio may invest in high-yielding securities and listed or unlisted financial instruments. It may also hold units in collective investment schemes or other similar schemes. Ratios may vary, to optimise prevailing market conditions. The maximum effective exposure in local and foreign equities is limited to 10%; and effective local and foreign property is limited to 25% of the market value of the portfolio.
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