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-0.95  /  -0.09%

1097.6

NAV on 2019/11/14
NAV on 2019/11/13 1098.55
52 week high on 2019/10/31 1115.89
52 week low on 2019/01/07 985.73
Total Expense Ratio on 2019/09/30 2.09
Total Expense Ratio (performance fee) on 0
NAV Incl Dividends
1 month change 2.28% 2.28%
3 month change 4.62% 6.24%
6 month change 4.28% 5.9%
1 year change 6.62% 9.65%
5 year change 1.96% 4.03%
10 year change 0% 0%
Price data is updated once a day.
  • Sectoral allocations
Financials 57.60 58.54%
Fixed Interest 10.53 10.70%
Liquid Assets -3.51 -3.57%
Spec Equity 5.48 5.57%
Offshore 28.29 28.76%
  • Top five holdings
U-NEDFLXI 10.53 10.7%
 SIRIUS 7.52 7.64%
 STOR-AGE 6.74 6.85%
CCFUND 6.38 6.48%
 FAIRVEST 6.04 6.14%
  • Performance against peers
  • Fund data  
Management company:
IP Management Company
Formation date:
2014/11/03
ISIN code:
ZAE000195855
Short name:
U-TRUNPRO
Risk:
Unknown
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 - Sep 19

2019/11/01 00:00:00
September was another successful month for the True North IP Enhanced Property Fund as it returned +2.1%. The fund has returned +10.1% for the year-to-date - this is 4.7% ahead of the benchmark and 8.8% ahead of the SA Listed Property Index.
It was an excellent month for a number of our long-held core holdings, as MAS Real Estate, Fairvest and Sirius Real Estate returned more than 10%. Furthermore, two smaller holdings, Attacq and Capital and Regional, returned 11.8% and 17.6% respectively in the month. Refining the portfolio
Most of the SA Listed Property market reported either full or half year results during September, which gave us the opportunity to refine our portfolio. The outcome was a number of changes, but we are comfortable that we now hold only the select few local property shares that should generate good shareholder returns in what remains a very tough local property market. On a see-though basis the fund has only 27% exposure to properties in SA and continues to be significantly invested in offshore markets.
  • 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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