1.5 /
0.29%
5.2526
NAV (ZAR) on 2024/09/13
NAV (ZAR) on 2024/09/12 |
5.2376 |
52 week high on 2024/08/27 |
5.2839 |
52 week low on 2023/10/04 |
4.7455 |
Total Expense Ratio on 2024/06/30 |
1.6 |
Total Expense Ratio (performance fee) on 2024/06/30 |
0 |
Here is a list of JSE shares held in this Unit Trust. These tables reflect changes in holdings over two quarters, but do not show where a fund has completely sold a holding during the latest quarter.
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The fund strives for long-term capital growth as well as some level of capital protection. Through the use of a quantitative risk model, the fund aims to profit from a rising share market and protect against capital losses in a weak market. The fund invests across shares, bonds and cash - moving from shares into fixed-interest investments when the fund's value drops below a predetermined 'floor'. When markets start to move up, the fund increases its holdings in shares, tapping into these growth opportunities. The fund aims to protect at least 90% of the net investment over a 12-month period. The fund is ideally suited to the more risk averse investor whose priority is capital preservation but who still wants to participate in upside market growth. It suits investors who want: * Protection of invested capital * The level of capital protection to follow markets upwards * Active equity management This is a moderate risk fund (risk rating 3). The risk management model aims to protect the portfolio value at a forward 'floor' level. The model will adjust the portfolio's asset allocation dynamically to protect capital. This form of portfolio protection is not a guarantee, but clearly a protective strategy only. The protective strategy is effective over typical 12-month rolling periods. Short-term fund value fluctuations can occur. Derivatives will be used tactically to manage and limit downside risk, and to capture or lock in gains as and when they occur. Dynamic Floor Technology Equities are the key driver of long-term after tax returns in excess of inflation, but they introduce short-term capital risk. The manager therefore uses dynamic floor technology to reduce the risk of loss in the fund, whilst still allowing the fund to benefit from positive equity performance. In other words, dynamic asset allocation decisions are driven by a quantitative process that reduces exposure to riskier assets in a declining or volatile equity market in favour of more stable assets like cash. The opposite would apply in a rising equity market. Furthermore, as positive returns are generated above a certain level, so the floor is raised in order to protect these returns from future losses. The floor is typically set at 10% below current fund value, with a one-year time horizon. It does not represent a guarantee but reflects a target maximum loss in any one year whilst still giving the fund uncapped upside potential.