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0.15  /  0.11%

133.3

NAV on 2019/01/18
NAV on 2019/01/17 133.1494
52 week high on 2018/06/15 137.8604
52 week low on 2018/02/06 131.0692
Total Expense Ratio on 0
Total Expense Ratio (performance fee) on 0
NAV Incl Dividends
1 month change -0.9% 1.3%
3 month change -0.55% 1.65%
6 month change -0.77% 1.42%
1 year change -0.43% 4.47%
5 year change 0.38% 4.49%
10 year change 2.65% 6.39%
Price data is updated once a day.
  • Sectoral allocations
Derivatives 8.14 2.64%
Financials 38.12 12.38%
Fixed Interest 34.25 11.12%
Gilts 75.33 24.47%
Liquid Assets 20.03 6.51%
Managed 19.46 6.32%
Technology 5.18 1.68%
Telecommunications 8.97 2.91%
Offshore 98.41 31.96%
  • Top five holdings
N-STINCOM 34.16 11.1%
U-SLDYNRT 19.46 6.32%
 HUGE 8.97 2.91%
DERIVATIVB 8.14 2.64%
ISHARESEMMARK 7.81 2.54%
  • Performance against peers
  • Fund data  
Management company:
Standard Bank Namibia Unit Trust ManagementCo Ltd.
Formation date:
2008/03/01
ISIN code:
ZAE000104139
Short name:
N-STDNAIN
Risk:
Unknown
Sector:
Regional--Namibian--Unclassified
Benchmark:
Outperform Namibian inflation by 4% over a rolling 24-month period
Contact details

Email
No email address listed.

Website
http://www.standardbank.com.na

Telephone
+264-61-294-9111

  • Fund management  
Brown Amuenje


  • Fund manager's comment

Standard Bank Namibia Inflation Plus Fund - Sep 18

2018/12/18 00:00:00
Fund review
Amidst an uncertain quarter, the fund continued to deliver good absolute returns. Over Q3, and in line with our mandate to preserve capital, we reduced our exposure to SA equity. Exposure to SA listed property earlier in the year when the sector saw a dramatic rerating detracted over the one-year performance.
Our strategies are blended around providing a reasonable return relative to the opportunity set in a very risk-controlled manner over the medium term. This stance is borne out in our three and five-year numbers. The fund continues to exhibit high-quality returns, through some tricky periods, from currency, fixed income and equity markets (not one single asset class) whilst staying true to our multi-asset and multi-strategy approach anchored around capital preservation.
Market overview
It’s been a concerning few months for investors as liquidity withdrawal, dollar strength, rising concerns around emerging markets and trade tariff spats have potentially ushered in a new investing environment. It’s not clear how asset valuations will respond to the variety of changes taking place simultaneously across the world. This is one of the reasons our asset allocation process has a variety of scenarios that we constantly evaluate and interrogate.
The changing nature of the global environment (from a liquidity perspective) is causing casualties. It’s not clear what dominoes will topple next. China’s economy is weathering the storm as policymakers there stimulate with reserve and interest rate cuts. Our concerns around rates is driven by a need to be cognisant of forward-looking discount rates to have any sound view around what asset prices should reflect from a medium- and longer-term valuation perspective.
Looking ahead
The world, and by extension the investment world, is becoming more complex and more dangerous given the upside to downside skew. Given the complexity, we are holding fewer assets in fewer jurisdictions and continue to increase our liquidity profile. That may sound strange from a diversification perspective but the less we need to monitor and control, the better our risk management.
  • Fund focus and objective  
The Standard Bank Namibia Inflation Plus Fund is a unique investment designed to provide long-term capital growth and enhanced levels of short-term income. By investing in a combination of assets classes, the fund seeks to outperform Namibian Inflation by 4% over a rolling 24-month period. There is an interest bearing element to this portfolio that results in a lower level of volatility when compared to a pure equity fund, which provides you with enhanced capital protection. This investment is the ideal option if you are looking for a professionally managed, moderate risk investment that provides exposure to equities, property and interest bearing investments. In addition, certain government issues as well as issues from top-rated corporations are also included in the investment universe. The fund aims to invest a minimum of 35% in Namibia.
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