Become an Insider Gold member to monitor your funds.

13.56  /  0.68%


NAV on 2019/06/25
NAV on 2019/06/24 1995.02
52 week high on 2019/04/09 2060.45
52 week low on 2018/11/27 1585.65
Total Expense Ratio on 2019/03/31 1.2
Total Expense Ratio (performance fee) on 2019/03/31 0
NAV Incl Dividends
1 month change 13.47% 13.47%
3 month change 2.31% 2.31%
6 month change 16.88% 20.31%
1 year change 21.61% 25.18%
5 year change 3.9% 6.13%
10 year change 7.32% 9.39%
Price data is updated once a day.
  • Sectoral allocations
Alt X 0.00 0.00%
Basic Materials 406.15 94.76%
Liquid Assets 6.14 1.43%
Other Sec 4.84 1.13%
Specialist Securities 11.47 2.68%
  • Top five holdings
 ANGLO 95.41 22.26%
 SASOL 67.82 15.82%
 BHP 50.22 11.72%
 IMPLATS 40.94 9.55%
 GLENCORE 28.78 6.72%
  • Performance against peers
  • Fund data  
Management company:
Nedgroup Collective Investments (RF) (Pty) Ltd.
Formation date:
ISIN code:
Short name:
South African--Equity--Resource
ASISA Category Average
Contact details

No email address listed.


0860-123-263(RSA only)/+27-21-416-6011(Outside SA)

  • Fund management  
Prudential Investment Managers

  • Fund manager's comment

Nedgroup Inv. Mining & Resources comment - Aug 17

2017/09/27 00:00:00
Following a soft performance for the sector in H1 2017 (the JSE resource index declined 6%), August continued the recovery seen in July, due to delivery of strong cash flows reported by the diversified miners, easing of growth concerns in China for H2 and generally a weak base which can in part be attributed to regulatory risk associated with the messy mining charter release and challenge. We continue to see depressed long-term valuations (specifically on the EV/Sales metric) despite healthy margins, specifically for the general/diversified miners, as well as attractive short-term earnings valuations. The balance of risk to our investment case is slowing earnings momentum but continued healthy cash flow and debt reduction, and for now we view the latter as attractive support within the resources sector and within the equity market in general.
Exposure to precious metals cannot be ignored despite poor earnings and cash flow, and magnified regulatory and labour risk. Elevated global geopolitical risk is supportive for gold; our preference is for Gold Fields due to geographic diversification and low value attached to the long disappointing South African South Deep mine.
Platinum is a derivative beneficiary of gold’s safe-haven status in the short term. In the long term there is little doubt that the electrification of the automotive drive train is a major disruptive force for the decades to come, but generally the negative implications of the shift to battery electric vehicles on internal combustion engines and thus the demand for platinum group metals appear overstated on a five-year view. While we are disappointed with the supply response, presented through reporting season, to weak industry economics we maintain a position in Impala Platinum Holding Ltd and Northam as companies that have continued to invest in portfolio improvement, with the former offering operating leverage to a potential metal price recovery, and the latter building a strategically attractive portfolio away from the labour intensive Rustenburg hub.
During August we added slightly to African Rainbow Minerals Ltd and Sappi Ltd and trimmed BHP Billiton plc, Mondi Ltd, Sasol Ltd, the palladium ETF and exited Kumba Iron Ore following its expected share uplift from positive dividend declaration.
The Nedgroup Investments Mining and Resource Fund gained 5.4% (gross of fees) over the month of August 2017. The biggest contributor to the Fund’s performance was the large exposure to Anglo American plc that delivered 12.0% over the month, followed by Exxaro Resources Ltd and Impala Platinum Holdings Ltd that enjoyed strong returns over the month.
  • Fund focus and objective  
The portfolio is suitable for investors who require sector specific exposure to mining and resources shares as part of their overall investment strategy, with maximum capital appreciation as their primary goal over the long term.
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.



Follow us:

Search Articles:Advanced Search
Click a Company: