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-1.84  /  -0.28%

654.52

NAV on 2019/11/14
NAV on 2019/11/13 656.36
52 week high on 2019/04/23 675.72
52 week low on 2019/01/02 604.82
Total Expense Ratio on 2019/09/30 1.68
Total Expense Ratio (performance fee) on 2019/09/30 0
NAV Incl Dividends
1 month change 2.28% 2.28%
3 month change 4.28% 4.28%
6 month change 0.33% 1.68%
1 year change 4.1% 7.13%
5 year change 3.04% 5.85%
10 year change 7.83% 10.52%
Price data is updated once a day.
  • Sectoral allocations
Basic Materials 2320.26 10.56%
Consumer Goods 1074.55 4.89%
Consumer Services 1140.03 5.19%
Derivatives -26.40 -0.12%
Financials 4016.98 18.28%
Fixed Interest 1603.85 7.30%
Gilts 2623.08 11.94%
Industrials 239.55 1.09%
Liquid Assets 187.34 0.85%
Money Market 479.43 2.18%
Spec Equity 240.56 1.09%
Technology 1664.54 7.57%
Telecommunications 602.69 2.74%
Offshore 5811.64 26.44%
  • Top five holdings
PRUWRLDMANG 4227.41 19.23%
PRUWRLDSTMANA 1584.21 7.21%
 NASPERS-N 1030.57 4.69%
U-PRUCOB 931.56 4.24%
 STANBANK 783.24 3.56%
  • Performance against peers
  • Fund data  
Management company:
Prudential Portfolio Managers Unit Trusts Ltd.
Formation date:
1999/08/02
ISIN code:
ZAE000020863
Short name:
U-PRUALLO
Risk:
Unknown
Sector:
South African--Multi Asset--High Equity
Benchmark:
ASISA South African - Multi Asset - High Equity Category Average
Contact details

Email
info@prudential.co.za

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

Telephone
021-670-5100

  • Fund management  
David Knee
David joined Prudential Portfolio Managers SA, as Head of Fixed Income in January 2009.  Prior to Prudential, he was the senior fixed interest portfolio manager in the London office of M&G Investments.  David worked at Prudential in South Africa in 1999 and 2000, and was responsible for establishing our current fixed interest process. Before joining M&G, David worked for Hill Samuel Asset Management as a fixed income fund manager, managing both life and pension funds for a variety of clients. David graduated from the London School of Economics with a BSc in Economics and from Birkbeck College with an MSc in Economics. He is an Associate of the Institute of Investment Management and Research.
Michael Moyle
Michael is Head of Real Return at Prudential Investment Managers, with 19 years’ experience. He is co-Portfolio Manager of four Prudential unit trust funds, and has won several Raging Bull & Morningstar Awards. Michael is primarily responsible for helping determine asset allocation in our multi-asset funds and institutional mandates.
Johny Lambridis
Johny, a qualified actuary, has worked in the In vestment industry since 1997. He joined Prudential in 2013 as Portfolio Manager and Equity Analyst, focusing on Insurance and Financial Services companies.


  • Fund manager's comment

Prudential Balanced comment - Sep 19

2019/10/24 00:00:00
September proved to be a relatively resilient month for global equity markets in the face of a string of negative news. Escalating trade-war tensions between the US and China, the start of efforts to impeach President Trump, Brexit uncertainty in the UK and political instability in Europe (particularly in Italy), were not enough to dampen investor sentiment as developed and emerging markets both closed the month in the black. In the US, President Trump's administration announced that it was considering delisting Chinese companies from US stock exchanges. The move formed part of a broader effort to limit US investment in Chinese companies. In keeping with market expectations, the US Federal Reserve cut interest rates by 25 bps, citing the prolonged US-China trade war and weak global economic growth as ongoing risk factors. Markets however, were disappointed as the Fed downplayed expectations of further interest rates cuts. In the UK, the Supreme Court ruled Prime Minister Johnson’s move to suspend Parliament was illegal, triggering calls from opposition parties for him to step down. In the EU, outgoing ECB president Mario Draghi announced that the central bank would cut interest rates by 10bps (below market expectations of a 20bp cut) and would continue to keep rates at accommodative levels until inflation showed signs of approaching the 2.0% target. China, meanwhile, filed a lawsuit with the World Trade Organization after the US imposed an additional 15% tariff on US$300bn worth of Chinese imports from 1 September. In retaliation to the tariff increase, China levied new duties of between 5-10% on US$75bn worth of American imports, including crude oil.
South African equities ended largely flat as gains made in the first half of the month were erased following the release of poor local economic data. The SARB, meanwhile, kept interest rates on hold and its latest quarterly projection model pointed to no interest rate changes through year-end. The growth outlook for 2020 and 2021, however, was revised down from 1.8% to 1.5%, and from 2.0% to 1.8% respectively. Preliminary results showed that GDP expanded 3.1% in the second quarter, well above market consensus of 2.5%. In September, the FTSE/ JSE All Share Index delivered 0.2%, the BEASSA All Bond Index posted 0.5%, inflation-linked bonds (the Composite ILB Index) delivered 0.4%, and cash as measured by the STeFI Composite Index returned 0.6%. Looking at global markets (all in US$), the MSCI AC World Index delivered 2.2%, the Bloomberg Barclays Global Aggregate Bond Index returned -1.0%, while the EPRA/NAREIT Global Property Index REIT posted 2.7%. The rand strengthened 1.1% against the euro and 0.1% against the dollar, but weakened 1.1% against the pound sterling.
Contributing the most to absolute performance for the month was the fund’s exposure to foreign equities (excluding property), SA bonds (excluding inflation-linked bonds) and SA listed property. SA equities (excluding property) detracted from value.
  • Fund focus and objective  
The Prudential Balanced Fund conforms to the regulations governing retirement fund investments.
The fund aims to achieve steady growth of capital and income through global asset allocation and superior stock selection across all industry sectors.
Who should invest?
Those investors seeking a suitable vehicle for retirement provision and those investors wishing to tilt their portfolio to value with minimised risk exposure.
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