0.46 /
0.25%
181.32
NAV on 2019/07/19
| NAV on 2019/07/18 |
180.86 |
| 52 week high on 2019/05/03 |
187.69 |
| 52 week low on 2018/12/27 |
171.36 |
| Total Expense Ratio on 2019/03/31 |
1.78 |
| Total Expense Ratio (performance fee) on 2019/03/31 |
0 |
| Bonds |
515.68 |
11.15% |
| Fixed Interest |
431.22 |
9.32% |
| General Equity |
710.16 |
15.35% |
| Managed |
2044.15 |
44.19% |
| Real Estate |
156.54 |
3.38% |
| Spec Equity |
495.87 |
10.72% |
| Offshore |
271.87 |
5.88% |
|
U-PPMLEQ |
811.48 |
17.54% |
|
U-PPMAINS |
784.43 |
16.96% |
|
U-PPSEQUI |
701.41 |
15.16% |
|
U-PPSINBD |
515.68 |
11.15% |
|
U-PPSSGF |
448.25 |
9.69% |
Management company:
Professional Provident Society Management Company |
Formation date:
2007/05/14 |
ISIN code:
ZAE000089892 |
Short name:
U-PPSMODE |
Risk:
Unknown |
Sector:
South African--Multi Asset--Medium Equity |
Benchmark:
CPI for all urban areas + 4% |
PPS Multi-Managers Proprietary Ltd
PPS Moderate FoF comment - Dec 08
2009/04/07 00:00:00
The PPS Moderate Fund of Funds delivered a return of -2.62% for the fourth quarter and -5.10% for the year, net of all fees. It has underperformed its CPIX + 4% benchmark over the quarter and year as local inflation has been running high, while the equity markets have delivered negative returns.
While there still remain high levels of uncertainty and risk aversion in the financial markets, we continue to expect the PPS Moderate Fund of Funds to outperform its benchmark over 5-year rolling periods.
Cash and bonds delivered returns of 2.95% and 11.35% for the quarter respectively. Your fund's exposure to these asset classes contributed positively to its overall performance. The Prescient Positive Return Fund and the PPS Enhanced Cash Fund added value to the performance of the fund of funds, as the managers outperformed their benchmarks.
Globally, equity markets closed 2008 with their worst performance in years after reaching record highs earlier in the year. Volatility, although off its peak, remains high as the economic outlook as well as further effects of the credit crisis remain uncertain.
Going forward we will continue to optimally position the fund of funds by closely monitoring its exposure to cash and the local equity market.
Investment objective
The PPS Moderate Fund of Funds aims to outperform inflation by 4% per year over periods longer than 60 months. It is also a suitable vehicle for retirement savings.
Investment mandate
This fund of funds allows for flexible asset allocation with equity exposure which will not exceed 60%. It may also invest in interest-bearing securities, listed and unlisted financial instruments and liquid assets. It solely holds units in local or foreign collective investment schemes or other similar schemes.
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