0.02 /
0.02%
108.51
NAV on 2019/01/18
| NAV on 2019/01/17 |
108.49 |
| 52 week high on 2018/12/31 |
109.86 |
| 52 week low on 2018/04/04 |
107.37 |
| Total Expense Ratio on 2018/06/30 |
1.2 |
| Total Expense Ratio (performance fee) on 2018/06/30 |
0 |
| Additional |
45.73 |
3.75% |
| Financials |
38.56 |
3.16% |
| General Equity |
116.27 |
9.53% |
| Liquid Assets |
1019.57 |
83.59% |
| Offshore |
-0.37 |
-0.03% |
|
FINANCEINSTIT |
631.78 |
51.8% |
|
CORPDBTCONVRT |
128.81 |
10.56% |
|
DOMESTICFUNDE |
107.87 |
8.84% |
|
PUBLENTISSPAP |
95.00 |
7.79% |
|
GOVTISSUPAPER |
47.95 |
3.93% |
Management company:
Professional Provident Society Management Company |
Formation date:
2007/05/08 |
ISIN code:
ZAE000089876 |
Short name:
U-PPSFLEX |
Risk:
Unknown |
Sector:
South African--Multi Asset--Income |
Benchmark:
BEASSA ALBI (1-3 year Total Return Index) |
PPS Multi-Managers Proprietary Ltd
PPS Flexible Income fund comment - Dec 08
2009/04/07 00:00:00
Your fund underperformed its 1-to-3year ALBI benchmark over all periods measured. It ended the year with an average instrument maturity of 0.67 years against 1.41 years for the benchmark. During the last quarter interest rates dropped, yields fell sharply and bonds rallied which was not a favourable environment for this portfolio's position. During the second half of the year, Cadiz added greater diversification in portfolio instruments across all maturities in the bond sector. They also added a small property holding during the fourth quarter which added value. Prescient maintained the short average instrument maturity which detracted from performance in the short term, but should add value as bond yields start to tick up. During the third quarter, Prescient's target portfolio allocation was reduced from 70% to 65% and the Cadiz African Harvest allocation increased from 30% to 35% this added value to your fund.
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.
Insider GOLD
