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11.19  /  0.57%

1968.04

NAV on 2019/07/18
NAV on 2019/07/17 1956.85
52 week high on 2019/05/03 2058.31
52 week low on 2018/07/20 1844.14
Total Expense Ratio on 2019/03/31 0.72
Total Expense Ratio (performance fee) on 0
NAV Incl Dividends
1 month change -0.23% -0.23%
3 month change -4.16% -4.16%
6 month change 0.04% 2.99%
1 year change 7.54% 12.06%
5 year change 2.45% 4.59%
10 year change 0% 0%
Price data is updated once a day.
  • Sectoral allocations
Derivatives 10.26 6.35%
Gilts 62.97 38.97%
Liquid Assets 7.56 4.68%
Money Market 80.79 50.00%
  • Top five holdings
MM-05MONTH 34.26 21.2%
MM-09MONTH 15.31 9.48%
MM-01MONTH 12.18 7.54%
DERIVATIVB 5.70 3.53%
FUTURES M 4.56 2.82%
  • 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% J400 & 10% Cash
Contact details

Email
clientservices@ipmc.co.za

Website
No website listed.

Telephone
021-673-1340

  • Fund management  
Tony Bell
Tony manages our range of target return, absolute return and managed equity product offerings. He has over 24 years investment experience and was previously the chief investment officer of Syfrets and Nedcor Investment Bank Asset Management (NIBAM). Tony joined the company in 2000 as head of business development, returning to his fund management roots in October 2008.
After assuming responsibility for the target return funds, Tony worked with Fernando Durrell to develop a sophisticated asset allocation framework that is able to adjust to a range of different macro environments. This process, together with active stock and bond selection has had a marked impact on the performance of Vunani Fund Managers’ suite of target return funds. Tony has, in addition, worked with Fernando in developing the absolute return offering.

Tony holds a Masters degree from the University of Stellenbosch. His thesis explored determinants of the price formation process of equities.


  • Fund manager's comment

Triathlon IP comment - Mar 16

2016/06/24 00:00:00
The key driver to financial markets for the first quarter of 2016 has been a combination of a weaker dollar, expectations that interest rates will stay lower for longer and a further downward revision in earnings growth in major developed equity markets. To top it all S&P further downgraded China..s debt. The broad impact of this dynamic was stronger EM currency movements, a rebound of 18% in Brazil..s equity market, a 15% decline in China..s equity market, a solid rally in most bond markets with our own ALBI up 6.6% for the quarter. Commodity markets and commodity stocks in particular, rebounded strongly with the gold sector up 92% and platinum up 74% for the quarter. Most other markets reflected something of a ..V....shaped recovery in performance. Having declined quite markedly from the end of 2015 to around mid-February, they rebounded to end the quarter flat. US stocks have barely changed. The move in the gold price is certainly telling us something. Taking all the data together, it seems fair to suggest that the crisis of confidence in central banks....ability to move markets and the economy, remains intact.
The first quarter of 2016 has been less stellar than previous quarters as a combination of hedge costs and underexposure to mining stocks in general and Anglos in particular detracted from relative performance. The corrective measures put in place in February bore fruit in March.
  • 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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