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100

NAV on 2019/03/22
NAV on 2019/03/21 100
52 week high on 2018/03/26 100
52 week low on 2018/03/26 100
Total Expense Ratio on 2018/12/31 0.09
Total Expense Ratio (performance fee) on 2018/12/31 0
NAV Incl Dividends
1 month change 0% 0.61%
3 month change 0% 1.96%
6 month change 0% 3.96%
1 year change 0% 8.18%
5 year change 0% 7.78%
10 year change 0% 0%
Price data is updated once a day.
  • Sectoral allocations
Fixed Interest 226.71 22.92%
Liquid Assets 119.15 12.05%
Offshore 643.16 65.03%
  • Top five holdings
U-SBKIMM 226.71 22.92%
  • Performance against peers
  • Fund data  
Management company:
Standard Bank Namibia Unit Trust ManagementCo Ltd.
Formation date:
2009/08/17
ISIN code:
ZAE000137048
Short name:
U-SBNAMAN
Risk:
Unknown
Sector:
Regional--Namibian--Unclassified
Benchmark:
90 Day NCD
Contact details

Email
No email address listed.

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

Telephone
+264-61-294-9111

  • Fund management  
Martinianus Tibinyane


  • Fund manager's comment

Standard Bank Namibia Money Market Fund - 18

2018/12/18 00:00:00
Fund review
The Stanlib Namibia Money Market Fund size, closed off lower from N$ 976mil in the second quarter of 2018, to N$ 930mil at the end of the third quarter of 2018. As at the end of the quarter, money market rates closed lower, with 12 months Jibar linked notes trading around 103bps over 3month Jibar ,12 months NCD’s at 8.15% and 12 months Fixed Deposits at 8.25%. The fund is currently overweight Jibar linked instruments, with the rest of the holdings split across FD’s, NCD’s & TB’s. The current fund attributions matrix are as a result of the higher annualized returns generated by the Jibar linked notes relative to the rest of the assets in the fund.
Market overview
During the quarter under review, the Bank of Namibia left the Repo rate unchanged at 6.75% as part of their decisions to support domestic growth. The market remained cash flush from the beginning of the quarter, with a total market liquidity of around N$4 bn cash by the end of the quarter. The high liquidity volumes, resulted in money market rates moving lower as banks have no incentive to price higher in the short term up to 12months. The Namibian inflation rate has since been moved slightly higher to average 4.1% from 4%, due to higher oil prices and the domestic currency’s response to the weakness in the Rand movements. Looking ahead
While the market expects rates to remain unchanged for the remainder of year, the increased levels of trade protectionism as well as the impact of monetary policy normalisation in developed markets, remain key drivers to the global outlook. The monetary decisions in SA will continue to have an impact on Namibia rates, while local liquidity needs will continue to drive the premiums offered for local assets.
  • Fund focus and objective  
The investment objective of the fund is to provide a medium whereby investors can obtain undivided participation in a diversified portfolio of such money market instruments as defined from time to time.
The primary performance objective of the fund is to obtain a high level of current income as is consistent with capital preservation and liquidity. Capital gains will be of an incidental nature. Clients benefit from wholesale cash management yields at competitive fees. The Standard Bank Namibia Money Market Fund invests in five major banking groups or other similar rated institutions. In addition, certain government issues as well as issues from top-rated corporations are also included in this investment universe. In accordance with Namibian regulations no less than 35% of the Fund's assets are invested in Namibia.
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