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-4.94  /  -1.03%

480.24

NAV on 2019/03/25
NAV on 2019/03/22 485.1791
52 week high on 2018/09/04 498.095
52 week low on 2019/01/04 452.2967
Total Expense Ratio on 0
Total Expense Ratio (performance fee) on 0
NAV Incl Dividends
1 month change 1.03% 1.03%
3 month change 4.3% 5.87%
6 month change -1.68% -0.2%
1 year change 4.46% 7.6%
5 year change 4.66% 7.07%
10 year change 9.23% 11.91%
Price data is updated once a day.
  • Sectoral allocations
Basic Materials 11.05 6.38%
Consumer Goods 6.92 3.99%
Consumer Services 17.65 10.18%
Derivatives 2.50 1.44%
Financials 28.77 16.60%
Fixed Interest 19.49 11.25%
Gilts 11.60 6.69%
Industrials 2.28 1.32%
Liquid Assets 7.23 4.17%
Technology 0.17 0.10%
Telecommunications 3.09 1.78%
Offshore 62.58 36.11%
  • Top five holdings
O-SLHIALP 45.26 26.11%
N-STINCOM 19.41 11.2%
 NASPERS-N 8.25 4.76%
 FIRSTRAND 6.28 3.62%
 ANGLO 5.87 3.39%
  • Performance against peers
  • Fund data  
Management company:
Standard Bank Namibia Unit Trust ManagementCo Ltd.
Formation date:
1998/04/01
ISIN code:
ZAE000182192
Short name:
N-STMAN
Risk:
Unknown
Sector:
Regional--Namibian--Unclassified
Benchmark:
All Share Index
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 Managed Fund - Sep 18

2018/12/18 00:00:00
Fund review
The Namibia Managed Unit Trust produced a return of 2.8% over the quarter ended 30 September 2018.
Market overview
The third quarter of 2018 saw an increase in emerging market selling pressure, led by deeper sell-offs in Turkey and Argentina, but spread to varying degrees across other countries with China being hard hit given that they are at the centre of US president Trump’s trade war intensification leading up to the US mid-term elections in November. The investment world has been struggling to deal with an environment of stronger US GDP growth but weakening growth elsewhere. This has led to a stronger US dollar, while US bond yields continue to rise with the US Fed on a rate hiking path over the foreseeable future. This in turn has put emerging market central banks under pressure to also raise rates, but this has proved difficult in a world seeing global trade declining and hence growth and currencies under pressure. From a local investors’ perspective, the only positive was further rand weakness, which meant positive returns from offshore equities (+8.1%), offshore bonds (+2.0%) and offshore cash (+3.7%).
Within South Africa, the big news in the third quarter was confirmation of a first half recession with negative Q2 growth. This, together with the general emerging market selling pressure, saw the local equity market (SWIX) down -3.3% in the quarter led by Industrials (-7.8%) and Property (-1.0%), while Financials (+2.8%) and Resources (+5.2%) managed to buck the trend. The Industrials sector was hit by selling in some index heavyweights for different company-specific reasons, with Aspen (-34.4%), MTN (-18.8%) and Naspers (-12.4%) at the forefront.
Looking ahead
The global growth outlook is one that has shifted from last year’s synchronised growth with the US continuing to power ahead following this year’s tax cuts, while the rest of the world continues to weaken from the positive growth bias of last year. While global trade continues to slowdown as the trade war intensifies, it appears that overall global growth will stay above trend for this year and 2019. This feeds into positive earnings growth, which together with relatively cheap valuation levels outside of the US, gives a reasonably positive investment backdrop for equities.
In managing your fund, we are always cognisant of both the positive tailwinds, as well as the risks that are inevitable the longer this cycle persists.
  • Fund focus and objective  
The Standard Bank Namibia Managed Fund is a prudential fund, which seeks to generate long-term capital growth with rising levels of income. It offers the combined investment expertise of STANLIB Namibia, STANLIB South Africa, the Fidelity Group and Liberty Ermitage to smaller pension funds as well as individuals. The Managed Fund provides the investor with access to growth opportunities in Namibia, South Africa and globally. The Managed Fund is a balanced portfolio providing access to opportunities in all major asset classes, equities, bonds, cash and offshore investments. This fund complies with Namibian legislation and is subject to Prudent Investment Guidelines (PIGS) as stipulated in the Pensions Funds Act.
The Standard Bank Namibia Managed Fund is suitable for small pension funds, private individuals seeking long-term capital growth and customers who seek a low to medium risk investment with exposure to local and global equity markets.
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