CHALLENGING BELIEFS THE SOUTH AFRICAN EXPERIENCE MANAGED VOLATILITY
|
|
- Thomasina Byrd
- 5 years ago
- Views:
Transcription
1 CHALLENGING BELIEFS THE SOUTH AFRICAN EXPERIENCE MANAGED VOLATILITY Grant Watson Saliegh Salaam
2 HIGH RISK = HIGH RETURN? Falling Risk Rising Risk 2 Source: Quantitative Investments, INET Negative returns in rising risk expectation environment Positive returns in falling risk expectation environment
3 LOW VOLATITY HAS OUTPERFORMED IN SOUTH AFRICA 3 Source: Factor Index Weekly MSCI South Africa
4 CHALLENGE High risk does not necessarily equal high returns! Can a low volatility strategy outperform over time? 4
5 PROFITING FROM VOLATILITY 5 Source: Old Mutual Investment Group Dec-09 to Feb-14
6 PROFITING FROM VOLATILITY Falling Risk Rising Risk 6 Negative returns in rising risk environment Positive returns in falling risk environment Source: Quantitative Investments, INET December 2009 to March 2014
7 7 FUND PHILOSOPHY SMOOTHER RETURN PATH
8 CONSISTENTLY LOWER VOLATILITY 8 Source: Old Mutual Investment Group Systematically managing portfolio volatility
9 SOURCES OF OUTPERFORMANCE IN SOUTH AFRICA Diversified sources of long term outperformance 9 Source: BARRA Dec 1992 Apr 2014
10 10 WHAT QUALIFIES AS A BUY? Only low volatility shares? Must all style attributes be present? NO!
11 SCREENING FOR ATTRIBUTES IS NOT VIABLE Percentage of universe that has desired attributes 11 Source: Barra and Old Mutual Investment Group
12 12 EACH SHARE PLAYS A ROLE
13 13 ADDRESSING THE CHALLENGE Higher risk does not necessarily lead to higher returns In the long-term, low volatility portfolios will outperform the market, as capital is being preserved on the downside Value, yield and momentum have the longest track record of outperformance within SA represent good diversification By consistently constructing low volatility portfolios and exposing our portfolios to these three themes, we are able to generate outperformance
14 14 OUR SOLUTION TO MARKET VOLATILITY IS MANAGED VOLATILITY Managed Volatility outperforms the benchmark in the long-term, whilst creating a smoother return path and lower volatility than the benchmark Designed for clients who have total risk as a primary objective Strategy is not highly correlated with the returns of other active equity portfolios Our primary objective is to create portfolios with lower total risk than their benchmarks, whilst managing exposure to value, yield and momentum in order to enhance returns
15 15 HOW WE DO IT Optimally account for interaction between shares to reduce volatility
16 Return TOP RISK ADJUSTED RETURN 25% 20% 15% Old Mutual Managed Vol Return vs Volatility Coronation Coronation Old Mutual Houseview Coronation Aggressive Core Prudential Core Momentum MoM Active Quant Stanlib Core Argon IS Classic Stanlib Enhanced Pure Specialist Kagiso Managed Momentum Kagiso Core Old IS Entrepreneur Prescient Active Investec Mergence Mutual AM Equities Core Index SYmmETRY Quant ELECTUS Multi-Cap Afena Capital Taquanta Active 10% Element Investec RI 5% 0% 9.0% 9.5% 10.0% 10.5% 11.0% 11.5% 12.0% 12.5% 13.0% 13.5% Volatility Consistently lower total risk 16 Source: Old Mutual Investment Group and Alexander Forbes I Dec Feb 2014
17 MARKET LEVEL ?? Bull market Global Financial Crisis ZAR blow out Tech bubble Mexican Peso 1 Banks Asian Crisis Source: FTSE/JSE Alsi, I-Net, MacroSolutions, Old Mutual Investment Group
18 VOLATILITY EXPECTATIONS Expectations of future market volatility at all time low Portfolio well positioned for increase in volatility Source: SAVI, I-Net: Feb-07 to May-14
19 MANAGED VOLATILITY - CURRENT POSITIONING 15% Tilts in each Vol Category 10% 5% 0% -5% -10% -15% Low Vol Tilt Medium Vol Tilt High Vol Tilt High/Medium/Low Ti 19 Source: Quantitative Investments
20 MANAGED VOLATILITY - FUND STRUCTURE Fund Benchmark Contribution to volatility Technology Total risk 9.2% 12.4% Value Momentum Yield Financials Telecom Consumer Services Health Care Consumer Goods Vodacom 5.5% 0.9% 4.1% Billiton 4.9% 3.4% 9.9% Naspers 4.8% 9.2% 8.1% Mondi 4.2% 0.5% 6.2% Sasol 4.2% 6.8% 6.4% Industrial Basic Materials Oil & Gas Active Tilt in % 20 Source: Barra and IMAPS
21 21 WHY MANAGED VOLATILITY? A smoother return path and stable risk-adjusted returns Reduces the risk that an equity component brings to a portfolio and frees-up risk budget Source of diversification - Low correlation with other active equity strategies
22 APPLICATION
23 MANAGED VOLATILITY - APPLICATION 23 Source: Quantitative Investments, INET December 2009 to March 2014
24 APPENDIX
25 MANAGED VOLATILITY - TOP 5 AND BOTTOM 5 ATTRIBUTION TOP 5 CONTRIBUTORS TO RETURN : MAY 2011 TO APRIL 2014 TOP 5 DETRACTORS FROM RETURN : MAY 2011 TO APRIL Old Mutual Investment Group
26 Contribution to Alpha MANAGED VOLATILITY - TOP 5 AND BOTTOM 5 ATTRIBUTION Weights 26 Source: Old Mutual Investment Group, May-11 to Apr-14
27 27 REGULATORY INFORMATION Old Mutual Investment Group (Pty) Limited Physical Address: Mutualpark, Jan Smuts Drive, Pinelands, 7405 Telephone number: Old Mutual Investment Group (Pty) Limited (Reg No 1993/003023/07) is a licensed financial services provider, FSP 604, approved by the Registrar of Financial Services Providers ( to provide intermediary services and advice in terms of the Financial Advisory and Intermediary Services Act 37 of Market fluctuations and changes in rates of exchange or taxation may have an effect on the value, price or income of investments. Since the performance of financial markets fluctuates, an investor may not get back the full amount invested. Past performance is not necessarily a guide to future investment performance. The investment portfolios may be market-linked or policy based. Investors rights and obligations are set out in the relevant contracts. In respect of pooled, life wrapped products, the underlying assets are owned by Old Mutual Life Assurance Company (South Africa) Limited who may elect to exercise any votes on these underlying assets independently of Old Mutual Investment Group. In respect of these products, no fees or charges will be deducted if the policy is terminated within the first 30 days. Returns on these products depend on the performance of the underlying assets. Disclosures: Personal trading by staff is restricted to ensure that there is no conflict of interest. All directors and those staff who are likely to have access to price sensitive and unpublished information in relation to the Old Mutual Group are further restricted in their dealings in Old Mutual shares. All employees of the Old Mutual Investment Group are remunerated with salaries and standard incentives. Unless disclosed to the client, no commission or incentives are paid by the Old Mutual Investment Group to any persons other than its representatives. All inter-group transactions are done on an arms length basis. We outsource investment administration of our local funds to Curo Fund Services (Pty) Ltd, 50% of which is owned by the Old Mutual Investment Group. Disclaimer: The contents of this document and, to the extent applicable, the comments by presenters do not constitute advice as defined in FAIS. Although due care has been taken in compiling this document, Old Mutual Investment Group does not warrant the accuracy of the information contained herein and therefore does not accept any liability in respect of any loss you may suffer as a result of your reliance thereon. The processes, policies and business practices described may change from time to time and Old Mutual Investment Group specifically excludes any obligation to communicate such changes to the recipient of this document. Old Mutual Investment Group has comprehensive crime and professional indemnity insurance. For more detail, as well as for information on how to contact us and on how to access information please visit
MARKET VIEWS AND ASSET ALLOCATION UPDATE PETER BROOKE, BOUTIQUE HEAD, MACROSOLUTIONS
MARKET VIEWS AND ASSET ALLOCATION UPDATE PETER BROOKE, BOUTIQUE HEAD, MACROSOLUTIONS AGENDA Why MacroSolutions Investment views & positioning 2 STRUCTURALLY POSITIONED FOR SUCCESS WHY MACROSOLUTIONS Solutions
More informationEXPLORING NEW INVESTMENT FRONTIERS
@Hywel_D_George EXPLORING NEW INVESTMENT FRONTIERS Markets in context HYWEL GEORGE Source: Google 2017 in context Share of China s population living in extreme poverty 1980 88.3% 2013 1.8% 30s 40s 50s
More informationFinding returns in a low return environment. Siboniso Nxumalo & Feroz Basa
Finding returns in a low return environment Siboniso Nxumalo & Feroz Basa MARKETS ARE AT RECORD LEVELS YET High debt levels 2 HIGHER LEVERAGE HAS NOT DELIVERED GROWTH Credit to Non Financial Sectors %
More informationTinyiko Ngwenya. Economist at Old Mutual Investment #OMTMRW
@oldmutualsa #OMTMRW Tinyiko Ngwenya Economist at Old Mutual Investment Group Tinyiko is an economist in the MacroSolutions Economic Research Unit and is responsible for analysing key macro-economic data
More informationPETER LINLEY HEAD: OLD MUTUAL EQUITIES
PETER LINLEY HEAD: OLD MUTUAL EQUITIES 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 SA GDP STUMBLES ALONG, SO WHY SA EQUITIES? 10 8 6 4 2 0-2 -4 Emerging countries
More informationInvestment Management, Global Best Practice Hywel George
Investment Management, Global Best Practice Hywel George Director of Investments @oldmutualsa #OMTMRW DO GREAT THINGS Source: Google Source: Google Source: Google 1Q65 1Q68 1Q71 1Q74 1Q77 1Q80 1Q83 1Q86
More informationGLOBAL EMERGING MARKETS: IT IS THE STOCKS THAT MATTER ANWAAR WAGNER
GLOBAL EMERGING MARKETS: IT IS THE STOCKS THAT MATTER ANWAAR WAGNER Portfolio Manager at Electus AGENDA Emerging Markets (EM) Crises? EM vs Developed Markets (DM) OM GEM Fund It s the shares that matter
More informationSUSTAINABILITY & LONG TERM INVESTING, THE NEW NORMAL? Jon Duncan
SUSTAINABILITY & LONG TERM INVESTING, THE NEW NORMAL? Jon Duncan Source WEF THE INTERCONNECTIVITY & IMPACT OF POPULATION 1945 population 2.6bn 2010 population 6.93bn 2050 population 11bn Service delivery
More informationShort Extension (130/30) Fund Strategy
Short Extension (130/30) Fund Strategy Richard Hasson Neil Brown Russell Bodill September 2009 Performance through Focus Why Select Equity Investments? Select Equity investment approach High conviction,
More informationHOW SUSTAINABLE IS THE ROAD AHEAD FOR INVESTORS. Peter Brooke
HOW SUSTAINABLE IS THE ROAD AHEAD FOR INVESTORS Peter Brooke SUSTAINABILITY is the ability to continue a defined behavior indefinitely DEFINED BEHAVIOUR DELIVERING CLIENT EXPECTATIONS GROW WEALTH in real
More informationSAVINGS A MACRO ECONOMIC VIEW. July 2018
SAVINGS A MACRO ECONOMIC VIEW July 2018 LOOKING BACK AT MY PREVIOUS MESSAGES AT THIS ANNUAL EVENT South Africa, as a country, saves too little It places a bind on investment and makes us vulnerable to
More informationMACRO-ECONOMIC OVERVIEW. Johann Els Senior Economist at Old Mutual Investment Group
MACRO-ECONOMIC OVERVIEW Johann Els Senior Economist at Old Mutual Investment Group EXECUTIVE SUMMARY Global recovery slow with considerable regional differences Inflation remains low, thus global policy
More informationBEARING FRUIT: INVESTING IN AFRICAN AGRICULTURE TO HELP CLOSE THE FOOD GAP
BEARING FRUIT: INVESTING IN AFRICAN AGRICULTURE TO HELP CLOSE THE FOOD GAP AGRICULTURE fast becoming A sought-after asset class for investors This momentum is driven by a number of compelling factors.
More informationGRAYSWAN SCORECARDS 01 DECEMBER 2017
GRAYSWAN SCORECARDS 01 DECEMBER 2017 Gray Swan Financial Services (Pty) Ltd (Reg No: 2010/009813/07) is an authorised Financial Services Provider (FSP No: 42290). we keep the score, you secure the win
More informationAbout reputation. Mothobi Seseli Chief Executive Officer Argon Asset Management. 06 th November 2015
About reputation Mothobi Seseli Chief Executive Officer Argon Asset Management 06 th November 2015 Asset management universe An African investment firm with global standards Bataung Capital Apr-05 Dec-06
More informationAbsolute Return Manager Watch TM Survey for the month ending April 2018
APRIL 201 2018/04/30 2018/02/01 2018/01/01 2017/05/01 2015/05/01 2013/05/01 2011/05/01 2008/05/01 Month Ending APRIL 2018 2018/01/01 2017/10/01 2017/09/01 2017/02/01 2015/02/01 2011/02/01 2008/02/01 CPI
More informationAbsolute Return Manager Watch TM Survey for the month ending July 2018
JULY 2018 2018/07/31 2018/05/01 2018/01/01 2017/08/01 2015/08/01 2013/08/01 2011/08/01 2008/08/01 Month Ending JULY 2018 2018/04/01 2018/01/01 2017/09/01 2017/05/01 2015/05/01 2011/05/01 2008/05/01 CPI
More informationS.A. Money Market Manager Watch TM Survey for the month ending April 2016
APRIL 2016 2016/04/30 2016/02/01 2016/01/01 2015/05/01 2013/05/01 2011/05/01 2009/05/01 2006/05/01 S.A. Money Market Manager Watch TM Survey for the month ending April 2016 S.A. Money Market Manager Watch
More informationS.A. Money Market Manager Watch TM Survey for the month ending January 2017
JANUARY 2017 31/01/2017 01/11/2016 01/01/2017 01/02/2016 01/02/2014 01/02/2012 01/02/2010 01/02/2007 S.A. Money Market Manager Watch TM Survey for the month ending January 2017 S.A. Money Market Manager
More informationDELIVERING OUTCOMES THAT MATTER PAUL BOYNTON CHIEF EXECUTIVE OF OLD MUTUAL ALTERNATIVE INVESTMENTS (PTY) LTD
DELIVERING OUTCOMES THAT MATTER PAUL BOYNTON CHIEF EXECUTIVE OF OLD MUTUAL ALTERNATIVE INVESTMENTS (PTY) LTD AGENDA The Alternatives Story Old Mutual s Experience Some investment stories OLD MUTUAL ALTERNATIVES
More informationOLD MUTUAL SUPERFUND SUPERFUND CHOICE AND PRESERVER INVESTMENT PORTFOLIOS AND FEES LIST
OLD MUAL SUPERFUND SUPERFUND CHOICE AND PRESERVER INVESTMENT PORTFOLIOS AND FEES LIST AS AT 1 AUGUST 2015 Risk Profile Profile Name TRUSTEE CHOICE INVESTMENT PACKAGE 0.55% Capital : 0.70% per annum, deducted
More informationTHE GENUINE POWER OF OUR INVESTMENT APPROACH IS IN THE INFORMED DEBATE THAT OUR INDEPENDENT ANALYSIS AND MODELLING PROCESS PROVOKES.
OLD MUTUAL EQUITIES THE GENUINE POWER OF OUR INVESTMENT APPROACH IS IN THE INFORMED DEBATE THAT OUR INDEPENDENT ANALYSIS AND MODELLING PROCESS PROVOKES. Peter Linley, Head: Old Mutual Equities OLD MUTUAL
More informationInvestor Platform Fund List
Bond Income Multi Multi Risk expectation Bond Allan Gray Bond Fund Bond Fund GOVI Tracker Fund Multi Manager Bond Fund Momentum Bond Fund Nedgroup Investments Bond Fund Stanlib Bond Fund market Fund Multi
More informationIn thousands Actual (113) 6m MA (198) 12m MA (191) Dec-07 Dec-09 Dec-11 Dec-13 Dec-15 Dec-17
may 2018 400 200 In thousands 0-200 -400-600 Actual (113) 6m MA (198) 12m MA (191) -800 Dec-07 Dec-09 Dec-11 Dec-13 Dec-15 Dec-17 40 30 Eurozone France Italy Portugal Germany Spain Greece Ireland 20 10
More informationMedical-Aid Manager Watch TM Survey for the month ending September 2017
Medical-Aid Manager Watch TM Survey for the month ending September 2017 Objective - The portfolios in this Survey are targeted at Medical Aids and are bound by the restrictions imposed by Regulation 30
More informationWhy Invest in Africa. Senzo Hlangu. 7 June 2011
Why Invest in Africa Senzo Hlangu 7 June 2011 6 Reasons to Invest in Africa INTERNAL FACTORS Best demographics Large, young & growing population EXTERNAL FACTORS Low penetration rates Reduced debt levels
More informationMulti-Manager Watch TM Survey for the month ending November 2016
NOVEMBER 20 2016/11/30 2016/09/01 2016/01/01 2015/12/01 2014/12/01 2013/12/01 2011/12/01 2009/12/01 2006/12/01 Multi-Manager Watch Survey Multi-Manager Watch TM Survey for the month ending November 2016
More informationMedical-Aid Manager Watch TM Survey for the month ending April 2018
Medical-Aid Manager Watch TM Survey for the month ending April 2018 Objective - The portfolios in this Survey are targeted at Medical Aids and are bound by the restrictions imposed by Regulation 30 of
More informationABSOLUTE RETURN FUNDS : THE REAL DEAL?
ABSOLUTE RETURN FUNDS : THE REAL DEAL? Matt Brenzel obo Francois van Wyk: Chief Investment Officer 2011 Best Specialist Fund House Morningstar Award 2011 Best Flexible Asset Allocation Fund AGENDA Background
More informationSOUTH AFRICAN HEDGE FUND SURVEY
SOUTH AFRICAN HEDGE SURVEY Return Statistics Returns MARKET RETURNS 1 month 3 months 6 months p.a. 5 years p.a. Ytd FTSE/JSE All Share Index 2.7% 9.6% 9.0% 30.1% 17.8% 22.2% 7.0% All Bond Index 0.3% 4.6%
More informationMarch R24.8bn INVESTED IN. R20.8bn INVESTED IN PRIVATE EQUITY. R12.4 bn INVESTED IN IMPACT FUNDS
March 2016 R24.8bn INVESTED IN Infrastructure R20.8bn INVESTED IN PRIVATE EQUITY R12.4 bn INVESTED IN IMPACT FUNDS ALTERNATIVE INVESTMENTS 01 When you invest with Africa s largest alternative asset manager,
More informationJULY 2016 RIAN LE ROUX
JULY 2016 RIAN LE ROUX WHO SAVES AND WHY? Households Companies Government As a Nation Forgoing current consumption to enhance future consumption So, HH s save to finance future big expenses & retirement
More informationINVESTMENT OPPORTUNITIES IN AFRICA AND AROUND THE WORLD
INVESTMENT OPPORTUNITIES IN AFRICA AND AROUND THE WORLD OLD MUTUAL GROUP (Established in South Africa in 1845) ASSETS UNDER MANAGEMENT: US$513.9bn* Old Mutual is an international savings, insurance and
More informationGeneral Investor Report as at 31/03/2018
STANLIB TOP40 ETF A 49,24 0,27 13 788 601 The investment objective of the STANLIB TOP40 Exchange Traded Fund is to provide returns that replicate the performance of the FTSE/JSE TOP40 Index ( the index
More informationThe Matrix Review. December 2018
The Matrix Review December 2018 Why Matrix Fund Managers Diversified Business Long funds AUM = R5.9 billion Hedge funds AUM = R3.1 billion Robust investment process across asset classes Evolution Hedge
More informationSOUTH AFRICAN HEDGE FUND SURVEY
SOUTH AFRICAN HEDGE SURVEY Licensed Financial Services Provider Return Statistics Returns MARKET RETURNS 1 month 3 months 6 months p.a. 5 years p.a. Ytd FTSE/JSE All Share Index -1.9% 4.5% 13.6% 19.3%
More informationfebruary 2019
february 2019 Momentum multi-managed life stage portfolios returns for february 2019 Lifestages progression The portfolio range has a lifestage model which allows a member of a retirement fund
More informationKey market performance drivers
Key market performance drivers Monthly charts September 2017 1 Market returns concentration One-year returns ending: September-17 August-17 July-17 NASPERS NASPERS NASPERS ANGLO ANGLO ANGLO STANDARD BANK
More informationGeneral Investor Report as at 30/09/2017
STANLIB TOP40 ETF - A A 49,91 0,27 14 089 053 The investment objective of the STANLIB TOP40 Exchange Traded Fund is to provide returns that replicate the performance of the FTSE/JSE TOP40 Index ( the index
More informationSOUTH AFRICAN HEDGE FUND SURVEY MAY 2014
SOUTH AFRICAN HEDGE SURVEY Return Statistics Returns MARKET RETURNS 1 month 3 months 6 months p.a. 5 years p.a. Ytd FTSE/JSE All Share Index 1.6% 6.2% 12.0% 21.8% 18.7% 20.2% 8.8% All Bond Index 1.2% 3.3%
More informationSOLUTIONS RANGE. Authorised Financial Services Provider (FSP 612)
SOLUTIONS RANGE Authorised Financial Services Provider (FSP 612) MONEY MARKET AND ENHANCED YIELD FUNDS Money Market The fund aims to achieve returns above the STefI Call Index, while minimising the risk
More informationSanlam Employee Benefits
Sanlam Employee Benefits Sanlam Plus Pension & Provident Preservation monthly investment fact sheets March 2017 Sanlam Plus Pension & Provident Preservation March 2017 Member Investment Selection Menu
More informationKey market performance drivers. Monthly charts to 31 March 2018
Key market performance drivers Monthly charts to 31 March 2018 Market concentration One-year returns ending: March-18 February-18 January-18 NASPERS NASPERS NASPERS STANDARD BANK GROUP LTD STANDARD BANK
More informationCore portfolio. our client value proposition. autumn 2017
Core portfolio our client value proposition autumn 2017 What do we mean by good governance? 04 Why partner with Momentum Wealth 04 Why the Core Portfolio range? 06 Glossary 08 Contact us 10 Page 2 of 10
More informationPROFILE RANGE FACTSHEETS RISK/RETURN. Profile. Edge28 CPI +6% Profile. Balanced CPI +5% Profile. Moderate CPI+4% Profile.
MACROSOLUTIONS INVEST WITH PERSPECTIVE Edge28 CPI +6% Balanced CPI +5% Capital CPI +3% Moderate CPI+4% CONSERVATIVE MODERATE RISK/RETURN DYNAMIC PROFILE RANGE FACTSHEETS OCTOBER 2018 MULTI-ASSET CLASS
More informationPROFILE RANGE FACTSHEETS RISK/RETURN. Profile. Edge28 CPI +6% Profile. Balanced CPI +5% Profile. Moderate CPI+4% Profile.
MACROSOLUTIONS INVEST WITH PERSPECTIVE CPI +6% CPI +5% CPI +3% CPI+4% CONSERVATIVE MODERATE RISK/RETURN DYNAMIC PROFILE RANGE FACTSHEETS NOVEMBER 2018 MULTI-ASSET CLASS SOLUTIONS: THE PROFILE RANGE The
More informationSOUTH AFRICAN HEDGE FUND SURVEY
SOUTH AFRICAN HEDGE SURVEY SEPTEMBER 2011 Licensed Financial Services Provider COMMENTS Hedge fund survey commentary New entrant: We welcome Murray Derksen and his Polar Star Fund to the survey. Murray
More informationSOUTH AFRICAN HEDGE FUND SURVEY
SOUTH AFRICAN HEDGE SURVEY DECEMBER 2011 Licensed Financial Services Provider STEPHEN BRIERLEY Head Hedge Fund Manager Research Cell: +27 (0)21 504 7857 Tel: +27 (0)83 258 8198 Email: sbrierley@symmetry.co.za
More informationQuarterly Strategy Note April THE CASE FOR SHORT SELLING IN HEDGE FUNDS by Richard Hasson
Neil Brown & Richard Hasson Co-Heads Quarterly Strategy Note April 2017 THE CASE FOR SHORT SELLING IN HEDGE FUNDS by Richard Hasson Brief Overview of South African Hedge Funds and the Regulatory Environment:
More informationOLD MUTUAL SUPERFUND CHOICE, PRESERVER AND DEFERRED RETIREMENT INVESTMENT PORTFOLIOS AND FEES LIST
OLD MUAL SUPERFUND CHOICE, PRESERVER AND DEFERRED RETIREMENT INVESTMENT PORTFOLIOS AND FEES LIST Name TRUSTEE CHOICE INVESTMENT PACKAGE Old Mutual Absolute Stable Growth Ptfolio 0.55% Capital : 0.70% per
More informationSTANLIB Balanced Cautious Fund
STANLIB Balanced Cautious Fund 4 Why a STANLIB Balanced Cautious Fund? To enhance its balanced range STANLIB has introduced the STANLIB Balanced Cautious Fund to its range of asset allocation portfolios,
More informationSOUTH AFRICAN HEDGE FUND SURVEY
SOUTH AFRICAN HEDGE SURVEY Licensed Financial Services Provider Hedge fund survey commentary INET: New Entrant: Exit: Exit: Exit: We have recently entered into a business relationship with the I-Net Bridge
More informationThe New World of Investing in Exchange Traded Products (ETPs)
The New World of Investing in Exchange Traded Products (ETPs) Presentation at: JSE / Investec / etfsa.co.za ETP Seminar 26 th February 2013 Mike Brown Managing Director etfsa.co.za Agenda What are Exchange
More informationSOUTH AFRICAN HEDGE FUND SURVEY
SOUTH AFRICAN HEDGE SURVEY Licensed Financial Services Provider Hedge fund survey commentary INET: New Entrant: Exit: We have recently entered into a business relationship with the I-Net Bridge Group to
More informationSOUTH AFRICAN HEDGE FUND SURVEY
SOUTH AFRICAN HEDGE SURVEY APRIL 2012 Licensed Financial Services Provider Hedge fund survey commentary INET: New Entrant: Exit: We have recently entered into a business relationship with the I-Net Bridge
More informationPlexCrown Unit Trust Survey: Fourth Quarter 2017
PlexCrown Unit Trust Survey: Fourth Quarter 2017 Overview of retail rand-denominated unit trust and FSB-approved foreign collective investment scheme returns, fund s and management company s for the quarter
More informationAsset Manager Performance Comparison
Cape Peninsula University of Technology Retirement Fund September 2017 DISCLAIMER AND WARNINGS: Towers Watson (Pty) Ltd, a Willis Towers Watson company, is an authorised financial services provider. Although
More informationAsset Manager Performance Comparison
Cape Peninsula University of Technology Retirement Fund August 2017 DISCLAIMER AND WARNINGS: Towers Watson (Pty) Ltd, a Willis Towers Watson company, is an authorised financial services provider. Although
More informationSYGNIA LIMITED PRESENTS 2016 INTERIM RESULTS FOR THE SIX MONTHS ENDED 31 MARCH 2016
SYGNIA LIMITED PRESENTS 2016 INTERIM RESULTS FOR THE SIX MONTHS ENDED 31 MARCH 2016 AGENDA 1. OUR PERFORMANCE 2. SIX MONTHS SINCE LISTING 3. BUSINESS UPDATE INSTITUTIONAL RETAIL 4. FINANCIAL PERFORMANCE
More informationRECM MONEY MARKET FUND (Class A) Minimum Disclosure Document - Period ended 30 September 2018
RECM MONEY MARKET FUND (Class A) FUND FACTS Portfolio Manager ASISA Sector Fund Launch Date Inception Date (Class A) Total Fund Size Fund Size (Class A) Min. Investment (Lump Sum) Min. Investment (Monthly)
More informationMIM SUMMARY OF FUND PERFORMANCE
09/04/2015 08/04/2015 FOR FINANCIAL ADVISERS ONLY MIM SUMMARY OF FUND PERFORMANCE This document was not produced by Old Mutual International. This document was produced by an external user on 09 April
More informationFIXED INCOME UPDATE DAPHNE BOTHA
FIXED INCOME UPDATE DAPHNE BOTHA Portfolio Manager at Futuregrowth AGENDA Product and team overview Fund performance Investment view and strategy Fund structures 2 PRODUCT AND TEAM OVERVIEW 28 Investment
More informationSOUTH AFRICAN HEDGE FUND SURVEY JULY 2014
SOUTH AFRICAN HEDGE SURVEY JULY 2014 Return Statistics Returns MARKET RETURNS 1 month 3 months 6 months p.a. 5 years p.a. Ytd FTSE/JSE All Share Index 0.9% 5.4% 15.5% 28.3% 21.8% 19.5% 12.8% All Bond Index
More informationmonthly fund fact sheets
investments monthly fund fact sheets month ended 31 may 2013 collective investments International Funds Multi-Asset Funds Factor Series Funds Income Funds Best Blend Funds Property Funds Equity Funds Please
More informationWealth Range Model Portfolios. Snapshot review for the period ended June 2018
Wealth Range Model Portfolios Snapshot review for the period ended June 2018 Agenda Cash-Income Solution (Cash+1%) Wealth Preserver Solution (CPI+3%) Wealth Enhancer Solution (CPI+5%) Wealth Accumulator
More informationRECM MONEY MARKET FUND (Class A) Minimum Disclosure Document - Period ended 31 January 2015
RECM MONEY MARKET FUND (Class A) Minimum Disclosure Document - Period ended 31 January 2015 The RECM Money Market Fund is a money market unit trust that provides a sensible cash portfolio with very competitive
More informationRECM MONEY MARKET FUND (Class A) Minimum Disclosure Document - Period ended 30 April 2015
RECM MONEY MARKET FUND (Class A) The RECM Money Market Fund is a money market unit trust that provides a sensible cash portfolio with very competitive fees. The Fund aims to maximise interest income, preserve
More informationMulti-Strategy Retail Hedge Fund
STANLIB Multi-Manager NCIS Multi-Strategy Retail Hedge Fund MULTI-MANAGER WE UNDERSTAND THAT INVESTING CAN BE A RISKY BUSINESS... so we have put together a hedge fund solution to lower your portfolio s
More informationSYGNIA PERFORMANCE MARCH EDITION 01 SYGNIA CONTINUES TO DELIVER TOP PERFORMANCE
SYGNIA PERFORMANCE MARCH 2016. EDITION 01 SYGNIA CONTINUES TO DELIVER TOP PERFORMANCE 2015 saw the tail-end of an extraordinary bull market which started after the co-ordinated relaxation of monetary policies
More informationMomentum Positive Return Fund
investments Momentum Positive Return Fund Capital preservation with cautious equity exposure wealth Momentum Positive Return Capital preservation with cautious equity exposure Introduction The Momentum
More informationFundsAtWork Umbrella Pension and Provident Funds (Namibia) Portfolio Range investment report
FundsAtWork Umbrella Pension and Provident Funds (Namibia) Range investment report march 2013 FundsAtWork Namibia Accumulator This portfolio is focused on maximising long-term capital growth of the assets
More informationFounder 1964 MOMENTUM SMART PASSIVE +4 Open 2012 TRUSTEE CHOICE PORTFOLIO Open
May 2016 Portfolio Number Founder 1964 MOMENTUM SMART PASSIVE +4 Open 2012 TRUSTEE CHOICE PORTFOLIO Open Provider ** MOMENTUM LIFESTAGES Open 1835 MOMENTUM MULTIMANAGER SMOOTH GROWTH FUND (GLOBAL) Open
More informationMARCH 2018 etfsa.co.za MONTHLY SOUTH AFRICAN ETF, ETN AND UNIT TRUST PASSIVE INDEX TRACKING PERFORMANCE SURVEY
MARCH 2018 etfsa.co.za MONTHLY SOUTH AFRICAN ETF, ETN AND UNIT TRUST PASSIVE INDEX TRACKING PERFORMANCE SURVEY Mike Brown, Managing Director, etfsa.co.za The Performance Survey for the period ended 29
More informationAPRIL 2018 etfsa.co.za MONTHLY SOUTH AFRICAN ETF, ETN AND UNIT TRUST PASSIVE INDEX TRACKING PERFORMANCE SURVEY
APRIL 2018 etfsa.co.za MONTHLY SOUTH AFRICAN ETF, ETN AND UNIT TRUST PASSIVE INDEX TRACKING PERFORMANCE SURVEY Mike Brown, Managing Director, etfsa.co.za The Performance Survey for the period ended 30
More informationAN ARABLE INVESTMENT ANSWER: AGRICULTURE, THE NEW ASSET CLASS ON THE BLOCK
AN ARABLE INVESTMENT ANSWER: AGRICULTURE, THE NEW ASSET CLASS ON THE BLOCK CLOSING THE FOOD GAP Duncan Vink Joint Managing Director of UFF Agri Asset Management Return Drivers in Agriculture Population
More informationKey market performance drivers
Key market performance drivers Monthly charts September 2016 1 Market returns concentration One-year returns ending: September-16 August-16 July-16 NASPERS NASPERS NASPERS SIBANYE GOLD LTD SIBANYE GOLD
More informationCLASSIC LIST OF FUNDS
STANLIB Class Fund Charge (VAT excl.) Performance Risk Rating Regulation 28 Compliance STANLIB Money Market Fund *** R 0.50% Conservative STANLIB Institutional Money Market Fund **** B13 0.50% Conservative
More informationOMGB SUMMARY OF FUND PERFORMANCE
Old Mutual International Fund Statistics Template - Page 1 of 7 04/11/2015 03/11/2015 FOR FINANCIAL ADVISERS ONLY Life Contracts issued by Old Mutual Guernsey OMGB SUMMARY OF FUND PERFORMANCE This document
More informationOther Fees/Additional detail TRUSTEE CHOICE INVESTMENT PACKAGE LIFESTAGE INVESTMENT PACKAGE. Smoothing Lifestage Investment Option
OLD MUAL SUPERFUND SUPERFUND CHOICE, PRESERVER AND DEFERRED RETIREMENT INVESTMENT PORTFOLIOS AND FEES LIST AS AT 1 DECEMBER 2017 Risk Name TRUSTEE CHOICE INVESTMENT PACKAGE Old Mutual Absolute Stable Growth
More informationFACT SHEET: LONG-TERM GROWTH PORTFOLIO
FACT SHEET: LONG-TERM GROWTH PORTFOLIO The investment objective of the Long-term Growth Portfolio is to achieve a real return (after deducting management expenses) relative to SA price inflation of 5.5%
More informationLinked Investments Tax-Free Savings Plan
Linked Investments Tax-Free Savings Plan Fund List Click on the relevant tab to view the list. # All fees are exclusive of VAT # No performance Fees are charged on these funds. Please refer to the fund
More informationSTANLIB Classic Retirement Annuity Fund Terms and Conditions
STANLIB Classic Retirement Annuity Fund Terms and Conditions The Classic Retirement Annuity Fund is ideal if you want to save for your retirement. You need flexibility when it comes to making a contribution
More informationKey market performance drivers. Monthly charts to 30 September 2018
Key market performance drivers Monthly charts to 30 September 2018 Market concentration One-year Capped SWIX contributions ending September 2018 Source: StatPro, Power BI and Momentum Investments Active
More informationSTANLIB Classic Preservation Pension Plan Terms and Conditions
STANLIB Classic Preservation Pension Plan Terms and Conditions Saving for your retirement is vital. The Classic Preservation Pension Plan allows you to save the money you receive from an employer pension
More informationInvestment Platform Portfolio List as at 1 December 2016
Investment Platform Portfolio List as at 1 December 2016 GENERAL INFORMATION OVERVIEW FEES (Excl. VAT) Name Hollard Prime Money Market Maximise interest income, preserve the fund s capital and provide
More informationExchange Traded Funds and the Retirement Industry
Exchange Traded Funds and the Retirement Industry Presentation to members of Batseta April 2018 Nerina Visser ETF Strategist & Advisor etfsa.co.za Nerina Visser, CFA Consulting & Advisory Work World Bank
More informationSTANLIB Linked Range. STANLIB Linked Fund Range. STANLIB Linked Fund Range (Retail Growth) Other STANLIB Funds. STANLIB White Labelled Funds
Click on the relevant tab to view the list. STANLIB Linked Fund Range STANLIB ABSA Allan Gray Cadiz Coronation Foord Investec Liberty Marriott Melville Douglas Nedgroup Old Mutual Prescient Prudential
More informationWealth Range Model Portfolios. Snapshot review for the period ended September 2018
Wealth Range Model Portfolios Snapshot review for the period ended September 2018 Agenda Cash-Income Solution (Cash+1%) Wealth Preserver Solution (CPI+3%) Wealth Enhancer Solution (CPI+5%) Wealth Accumulator
More informationQuarterly Strategy Note September 2013
Quarterly Strategy Note September 213 Neil Brown & Richard Hasson Boutique Co-Heads Total Returns to end of August 213 1-month 3-month 6-month 1-year 3-year p.a. 5-year p.a. JSE SWIX (J43) 2.% 1.2% 7.4%
More informationRECM MONEY MARKET FUND (Class A) Minimum Disclosure Document - Period ended 28 February 2018
RECM MONEY MARKET FUND (Class A) The RECM Money Market Fund is a money market unit trust that provides a sensible cash portfolio with very competitive fees. The Fund aims to maximise interest income, preserve
More informationFactor Investing & Smart Beta
Factor Investing & Smart Beta Raina Oberoi VP, Index Applied Research MSCI 1 Outline What is Factor Investing? Minimum Volatility Index Methodology Historical Performance and Index Characteristics Risk
More informationBatseta Seminar. Understanding risk April 2016
Batseta Seminar Understanding risk April 2016 $350bn Global ETP cumulative flow The global ETP inflow 2015 Source: BlackRock ETP Landscape The global ETP inflow by asset class & exposure 2015 The SATRIX
More informationBUSTING THE MYTHS IN MID- AND SMALL CAPS
BUSTING THE MYTHS IN MID- AND SMALL CAPS WARREN JERVIS PORTFOLIO MANAGER ABOUT THE AUTHOR Warren is the portfolio manager of the Old Mutual Mid & Small-Cap Fund, as well as other client portfolios. He
More informationSOUTH AFRICAN HEDGE FUND SURVEY DECEMBER 2009
SOUTH AFRICAN HEDGE FUND SURVEY DECEMBER 2009 COMMENTS DECEMBER 2009 THE HEDGE FUNDS For the months ended 31 December 2009, the SYmmETRY Hedge Index returned +14.1%, Long Short Equity returned +18.9%,
More informationBATSETA Durban Mark Davids Head of Pre-retirement Investments
BATSETA Durban 2016 Mark Davids Head of Pre-retirement Investments Liberty Corporate VALUE Dividend yield Earning yield Key considerations in utilising PASSIVE and Smart Beta solutions in retirement fund
More informationETFs and Your Wealth. etfsa.co.za Investment Seminar. Nerina Visser ETF Strategist & Advisor etfsa.co.za. November 2017
ETFs and Your Wealth etfsa.co.za Investment Seminar November 2017 Nerina Visser ETF Strategist & Advisor etfsa.co.za ETFs what it is NOT Investing in ETFs is NOT Get-rich-quick scheme Trading in individual
More informationMorningstar Rating Analysis of South African Domiciled Asset Managers
Morningstar South Africa Q3 2017 Morningstar Rating Analysis of South African Domiciled Asset Managers 30 September 2017 Authors: Matthew Mellors Matthew Vass Content Morningstar Rating Analysis of South
More informationFor shorter-term periods of 1 year or less, commodity ETFs and ETNs dominate the Performance Survey.
SEPTEMBER 2017 etfsa.co.za MONTHLY SOUTH AFRICAN ETF, ETN AND UNIT TRUST PASSIVE INDEX TRACKING PERFORMANCE SURVEY Mike Brown, Managing Director, etfsa.co.za The Performance Survey for the period ended
More informationCLASSIC LIST OF FUNDS
STANLIB Class Fund Charge (VAT excl.) Performance Risk Rating Regulation 28 Compliance STANLIB Money Market Fund *** R 0.50% Conservative STANLIB Institutional Money Market Fund **** B13 0.50% Conservative
More informationQUARTERLY REPORT TO MEMBERS 2nd Quarter 2011
QUARTERLY REPORT TO MEMBERS 2nd Quarter 211 This is your first-quarter report for the year 211 on the Media24 Retirement Fund and its performance. We have shown the performance of the Media24 portfolios
More information