MONITOR THIS FUND
Become an Insider Gold member to monitor your funds.

-13.73  /  -1.16%

1180

NAV on 2019/09/17
NAV on 2019/09/16 1193.732
52 week high on 2019/05/03 1243.606
52 week low on 2018/11/23 1056.486
Total Expense Ratio on 2019/06/30 1.48
Total Expense Ratio (performance fee) on 0
NAV Incl Dividends
1 month change 5.62% 5.62%
3 month change -1.43% -0.39%
6 month change 1.94% 3.02%
1 year change 0.55% 2.64%
5 year change 2.47% 4.2%
10 year change 0% 0%
Price data is updated once a day.
  • Sectoral allocations
Basic Materials 93.07 21.74%
Consumer Goods 23.28 5.44%
Consumer Services 36.76 8.59%
Derivatives 0.68 0.16%
Financials 104.09 24.31%
Health Care 2.79 0.65%
Industrials 7.89 1.84%
Liquid Assets 1.71 0.40%
Technology 135.37 31.62%
Telecommunications 22.51 5.26%
  • Top five holdings
 NASPERS-N 135.37 31.62%
 STANBANK 35.22 8.23%
 FIRSTRAND 32.69 7.64%
 SASOL 23.59 5.51%
 ANGLO 22.24 5.19%
  • Performance against peers
  • Fund data  
Management company:
Momentum Collective Investments Limited
Formation date:
1997/04/01
ISIN code:
ZAE000056503
Short name:
U-RMBSTRO
Risk:
Unknown
Sector:
South African--Equity--General
Benchmark:
FTSE/JSE All Share index
Contact details

Email
ci.Clientservice@momentum.co.za

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

Telephone
0860-111-899 (Client Services)

  • Fund management  
Patrick Mathidi
Patrick started his career as an articled clerk for Deloitte & Touche in 1992 before joining Tongaat Hullet for two years. In May 1998 he joined Investec Asset Management for five years. He joined Credit Suisse Securities (formerly Andisa) in 2003. As the MD of Andisa Securities, Patrick was largely responsible for facilitating the deal between Standard Bank and Credit Suisse. Having concluded the deal he was appointed deputy CEO.
Patrick joined the RMB Asset Management investment team as a senior investment professional from 1 June 2007 and is currently the Head of Portfolio Managers.


  • Fund manager's comment

Momentum Top 25 comment - Jun 14

2014/08/29 00:00:00
Economic overview
Global economic conditions appear to be on the mend, but risks to the outlook remain. In support of the pedestrian recovery, key central banks have kept ultra-low monetary policy rates in place, which have, in turn, fuelled record stock market highs.
South African (SA) equities have moved in tandem with robust global bourses, despite faltering domestic growth prospects, as low volatility and SA's large dual-listed component have driven record highs in the equity market, with the SWIX outperforming the rest of the domestic asset classes over the second quarter.
The global economic recovery should see global equities supported by accelerated earnings momentum, low (but positive) inflation, improved shareholder capital returns and fair to cheap valuations. SA equity valuations are expensive (and are not supported by similar underlying developed-market fundamentals) and pose potential for some underperformance.
Market overview
The FTSE/JSE ALSI gained 6.6% in rands in the second quarter (+7.2% total returns), reaching an all-time high of 51322.7 on 20 June. The best performance came from fixed telecoms (+35.8%), defensive sectors, notably beverages (+17.2%), food producers (+15.5%) and healthcare equipment (+14.2%). Oil and gas (+8.8%) gained from rising oil prices. Cyclical sectors, including industrial metals (-9.7%), platinum (-5.9%), construction (1.6%) and general mining (2.7%) lagged. The best performing stock for the quarter was Telkom, up over 18%, and the worst African Bank, down almost 20%.
The five-month AMCU strike in the platinum sector ended with producers agreeing to a R1 000 per month wage increase for A and B band employees and a 7.5% to 8.0% increase for C band employees. Amplats and Implats expect to reach steady state production in the final quarter of this calendar year (no timeframe has been given by Lonmin). None of the three producers have indicated what 'steady state production' might be and have not ruled out the possibility of restructuring once the ramp-up process is complete. We do not think that a capital raise in the form of a rights issue is imminent. We do, however, believe that there will be material strain on cash holdings as these companies ramp up production to steady state.
Fund overview
The Momentum Top 25 Fund returned 6.90% over the quarter and 38.39% over one year, outperforming the fund's benchmark, the SWIX Top 40 Index, which returned 6.8% and 35.1% respectively. We are very pleased with the fund's absolute and relative performance. The fund is 3/124 and 7/111 funds in the SA-Equity-General sector over one and two years respectively.
We remain cautiously positioned within the equity asset class, largely on the back of valuation levels that appear stretched, in our view. The state of the underlying domestic economy, where growth is likely to disappoint, is not supportive of corporate earnings and waning emerging market risk appetite.
  • Fund focus and objective  
The Aluwani Top 25 Fund is a specialist large cap equity fund with the objective to maximise returns over the FTSE/JSE SWIX 40 at a slightly higher level of risk. The fund will be precluded to a maximum of
25 stocks which can only include the top 50 stocks by market capitalisation on the JSE. The fund offers the investor the potential for long term capital growth.
Insider GOLD
ONLY R63pm

Moneyweb's premium subscription is a membership service which will give you access to a number of tools to take charge of your investments.
Or choose a yearly subscription at R630pa - SAVE R126

Get instant access to all our tools and content. Monthly subscription can be suspended at any time.

Podcasts

SHOP NEWSLETTERS TRENDING CPD HUB

Follow us:

Search Articles:Advanced Search
Click a Company: