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0.46  /  0.02%

1899.43

NAV on 2019/11/20
NAV on 2019/11/19 1898.97
52 week high on 2019/05/03 2058.31
52 week low on 2019/10/03 1837.24
Total Expense Ratio on 2019/09/30 0.66
Total Expense Ratio (performance fee) on 0
NAV Incl Dividends
1 month change 0.85% 0.85%
3 month change 0.45% 4.29%
6 month change -2.36% 1.38%
1 year change 1.14% 8.11%
5 year change 1.87% 4.63%
10 year change 0% 0%
Price data is updated once a day.
  • Sectoral allocations
Derivatives 2.44 1.41%
Gilts 71.28 41.31%
Liquid Assets 18.88 10.94%
Money Market 79.95 46.34%
  • Top five holdings
MM-02MONTH 31.24 18.1%
MM-10MONTH 16.26 9.42%
MM-06MONTH 14.00 8.12%
MM-11MONTH 4.03 2.34%
MM-04MONTH 3.04 1.76%
  • Performance against peers
  • Fund data  
Management company:
IP Management Company
Formation date:
2011/06/03
ISIN code:
ZAE000244752
Short name:
U-MITRIAT
Risk:
Unknown
Sector:
South African--Multi Asset--Flexible
Benchmark:
90% Capped Swix 40 TR & 10% Stefi
Contact details

Email
clientservices@ipmc.co.za

Website
No website listed.

Telephone
021-673-1340

  • Fund management  
WWC Asset Management (Pty) Limited


  • Fund manager's comment

Triathlon IP comment - Jun 19

2019/08/23 00:00:00
Equity:
Quarter 2 started where quarter 1 left off. Another volatile period for markets. Global equity markets ended the quarter strong with the MSCI World returning 4.2% in USD despite a gut wrenching -5.8% drop in May. Strong employment numbers from the US along with improved sentiment surrounding the trade standoff between the US/China along with dovish stance from the ECB fuelled the bull sentiment. Emerging markets tabled 0.74% over the quarter with Russia rallying 17.3% as it reached agreement with OPEC on oil supply while China saw a -3.9% decline despite a strong rally in June.
The FTSE/JSE Capped Swix 40 Total Return Index tabled a 3.22% (ZAR) return lifted by global sentiment around an improvement in trade negotiations between the US and China. All the major indices were up with Financials tabling 7.0%, Industrials 4.0% and Resources 2.3% respectively. Property was up a strong 4.5% while cash returned 1.8%. The Rand strengthened closing at R14.09 to the US dollar.
Fixed Income:
Global bond markets returned 3.6% USD over the quarter with the US 10 year Treasury bond closing at 2.0% having started the quarter at 2.50%. The FED maintained its rate policy despite increased expectations to initiate a rate cut despite strong employment numbers. Over the quarter the ECB adopted a more dovish stance with Mario Draghi citing further potential stimulus measures to reignite a slowing economy.
The SARB kept its rates unchanged notwithstanding a very disappointing Q1 GDP number of -3.2% q-o-q. The All Bond Index was up 3.7% with inflation link bonds up 2.9%. Property was up a strong 4.5% while cash returned 1.8%. The Rand strengthened closing at R14.09 to the US dollar.
  • Fund focus and objective  
The TRIATHLON IP FUND is a moderate to high risk, flexible fund. The objective of this portfolio is to achieve capital appreciation over the medium to long term. There will be no limitations on the relative exposure of the portfolio to any asset class.Investments to be included in the TRIATHLON IP FUND will, apart from assets in liquid form, consist of securities and financial instruments across the equity, fixed interest and property markets.The portfolio may also include participatory interests or any other form of participation in portfolios of collective investment schemes or other similar schemes in the Republic of South Africa. Where the aforementioned schemes are operating in territories other than South Africa, participatory interests or any other form of participation in these schemes will be included in the portfolio only where the regulatory environment is to the satisfaction of the manager and the trustee as being of a sufficient standard to provide investor protection at least equivalent to that in South Africa and which is consistent with the portfolio's primary objective.The Manager will be permitted to invest on behalf of the portfolio in offshore investments as legislation permits.The Manager may from time to time invest in financial instruments, in accordance with the provisions of the Act, and the Regulations thereto, as amended from time to time, in order to achieve the portfolio's investment objective. Nothing in this supplemental deed shall preclude the manager from varying the ratio of securities, to achieve the investment objective in a changing economic environment or market conditions or to meet the requirements, if applicable, of any exchange recognised in terms of legislation and from retaining cash or placing cash on deposit in terms of the deed and this supplemental deed; provided that the Manager shall ensure that the aggregate value of the assets comprising the portfolio shall consist of securities and assets in liquid form of the aggregate value required from time to time by the Act.For the purpose of this portfolio, the manager shall reserve the right to close the portfolio to new investors on a date determined by the manager. This will be done in order to be able to manage the portfolio in accordance with its mandate. The manager may, once a portfolio has been closed, open that portfolio again to new investors on a date determined by the manager.The trustee shall ensure that the investment policy set out in this supplemental deed is adhered to.
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