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-12.34  /  -1.14%

1086.23

NAV on 2020/02/27
NAV on 2020/02/26 1098.57
52 week high on 2020/01/31 1131.33
52 week low on 2019/04/09 1037.42
Total Expense Ratio on 2019/12/31 2.09
Total Expense Ratio (performance fee) on 0
NAV Incl Dividends
1 month change -2.95% -2.95%
3 month change -2.01% -2.01%
6 month change 3.2% 4.81%
1 year change 4.13% 7.09%
5 year change 0.74% 2.78%
10 year change 0% 0%
Price data is updated once a day.
  • Sectoral allocations
Financials 56.07 54.52%
Fixed Interest 10.53 10.24%
Liquid Assets 7.64 7.43%
Spec Equity 3.25 3.16%
Offshore 25.35 24.65%
  • Top five holdings
U-NEDFLXI 10.53 10.24%
 SIRIUS 8.61 8.37%
CCFUND 6.69 6.51%
 STOR-AGE 6.18 6.01%
 VUKILE 6.12 5.95%
  • Performance against peers
  • Fund data  
Management company:
IP Management Company
Formation date:
2014/11/03
ISIN code:
ZAE000195855
Short name:
U-TRUNPRO
Risk:
Medium - High
Sector:
South African--Real Estate--General
Benchmark:
75% FTSE/JSE All Property Index (J803T); 25% FTSE EPRA NAREIT Developed Index (Net TR)
Contact details

Email
clientservices@ipmc.co.za

Website
No website listed.

Telephone
021-673-1340

  • Fund management  
Wim Prinsloo


  • Fund manager's comment

True North IP Enhanced Property comment - Dec 19

2020/02/20 00:00:00
The True North IP Enhanced Property Fund returned 14.8% for its investors in 2019 - an outstanding result against the poor returns of the SA listed property market. We are proutd to report that the fund has outperformed its benchmark by 8.9% p.a. over the past 3 years and it is the top-performing Sa Real Estate Fund over this period.
Our fund's strong result in 2019 was mostly due to its high allocation towards businesses that operate outside of South Africa, with long-held favourites Sirius Real Estate (Germany), Storagevault (Canada), Safestore (UK) and Interxion (Europe) all gaining more than 50% during the year. A common denominator amongst these holdings is the excellent fundamentals of their underlying property portfolios. Furthermore, they are all smaller, nimble companies that are enhancing shareholder value through well-executed acquisitions and developments.
We are also relatively pleased by the performance of most of our SA-focussed holdings, with Spear Reit (+10%), Equites (+11%), and storage Reit (+28%) squeezing out positive returns during the year.
We believe that all of the ingredients remain intat to continue delivering best-in-class retunrs for our investors in the year ahead.
  • Fund focus and objective  
The TRUE NORTH IP ENHANCED PROPERTY FUND is a moderate to high risk, flexible property fund. The objective of this portfolio is to achieve capital appreciation over the medium to long term.
Investments to be included in the TRUE NORTH IP ENHANCED PROPERTY FUND will, apart from assets in liquid form, consist of securities and financial instruments across the listed property markets. The portfolio will typically be highly exposed to the larger capitalized property stocks with exposure to smaller property companies that offer better growth opportunities over the longer term.
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.
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