-1.42  /  -0.12%

1148.95

NAV on 2020/10/23
NAV on 2020/10/22 1150.37
52 week high on 2020/08/18 1227.28
52 week low on 2020/03/19 931.22
Total Expense Ratio on 2020/06/30 3.48
Total Expense Ratio (performance fee) on 0
NAV
Incl Dividends
1 month change -0.26% -0.26%
3 month change -0.84% -0.84%
6 month change 3.53% 3.53%
1 year change 6.18% 6.18%
5 year change 0% 0%
10 year change 0% 0%
Price data is updated once a day.
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  • Sectoral allocations
Basic Materials 15.02 27.64%
Consumer Goods 0.76 1.40%
Consumer Services 0.61 1.12%
Financials 2.66 4.90%
Industrials 0.44 0.81%
Liquid Assets 4.80 8.84%
Other Sec 1.06 1.95%
SA Bonds 1.51 2.79%
Spec Equity 1.14 2.10%
Specialist Securities 12.79 23.55%
Technology 5.14 9.46%
Telecommunications 0.60 1.11%
Offshore 7.80 14.35%
  • Top five holdings
U-SYIXSP5 4.59 8.46%
U-SATNAS 4.37 8.05%
U-SATSP50 3.65 6.72%
 HARMONY 2.92 5.38%
 NASPERS-N 2.84 5.23%
  • Performance against peers
  • Fund data  
Management company:
IP Management Company
Formation date:
2018/03/01
ISIN code:
ZAE000251880
Short name:
U-THYGLBL
Risk:
Unknown
Sector:
Global--Multi Asset--Flexible
Benchmark:
95% MSCI and 5% Cash
Email
clientservices@ipmc.co.za

Website
No website listed.

Telephone
021-673-1340

  • Fund management  
Thyme Wealth (Pty) Ltd.


  • Fund manager's comment

Thyme Wealth IP Global comment - Dec 19

2020/02/20 00:00:00
Positive geopolitical developments supported risk-on trades as the year drew to a close. The trade agreement to partially roll back tariffs, increase agricultural purchases, and ensure intellectual property protection was reportedly reached between the US and China and Phase one of the trade agreement is due to be signed in January 2020. The tech heavy Nasdaq gained +3.54% during the last month of 2019, outperforming the S&P500 (+2.86%), whilst the Hang Seng and Shanghai benefitted the most in this risk-on environment, gaining by +7.00%, and +6.20% respectively. The MSCI’s EM USD index was up +7.2% for the month.
Uncertainty around Brexit was eliminated as the UK’s elections delivered a clear victory for the Conservatives, paving the way for Brexit. The UK’s FTSE 100 gained +2.70%, whilst in Europe the German DAX and French CAC40 were slightly positive at +0.10% and +1.23% respectively.
In this risk-on environment, global bonds sold off with the US 10y increasing 14bps to 1.92%. SA Equities ended strongly, up +3.13% for the ALSI, again lead by the gold and platinum sectors. During 2019 the FSE/JSE RESI20 index returned +20.01%, while the INDI25 was up +8.82%. The FINI15 had a negative performance in 2019 of -4.30%. In 2019 bonds gained +10.32% compared to the +7.36% return on cash. Equities gained +12.05%, whilst the Listed Property Index (J253) was down at -7.01% during 2019.
Despite Stage 6 load shedding as Eskom’s electricity generation fleet experienced an unprecedented level of breakdowns, the rand was stronger by 4.5% versus the US dollar USD/ZAR (closing at R14.00/$), by 2.86% against the euro and by 2.17% against the British pound. The rand has been a beneficiary of the external drivers mainly because of its carry appeal. SA risks in 2020 remain elevated, especially with mounting challenges at Eskom and slow policy responses.
The fund has benefitted from the change in classification from Global to World-Wide as it now allows the complete flexibility to vary exposure to different asset classes as economic conditions change. The fund manager is confident that the benchmark will be outperformed over a 3 to 5 year investment horizon.
  • Fund focus and objective  
The fund is a multi-asset flexible fund, investing primarily in foreign markets. The objective of this portfolio is to achieve long term capital appreciation. There will be no limitations on the relative exposure of the portfolio to any asset class or geographical region, but the portfolio will typically have significant exposure to foreign equity and property securities.
Investments to be included in the portfolio will, apart from assets in liquid form, consist of securities and listed and unlisted financial instruments across the equity, fixed interest and property markets, including exchange traded funds and exchange traded notes as permitted by legislation from time to time. The portfolio will typically be 80% exposed to foreign equities, but the Portfolio Manager will have complete flexibility to vary the exposure to different asset classes as economic conditions vary.
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