OLD MUTUAL TOp 40 FUND
March 2011
OLD MUTUAL top 40 FUND FUND INFORMATION 1 2 RISK RATING
FUND PERFORMANCE as at 31/03/2011 3
4
% PERFORMANCE (p.a.)
5
FUND OBJECTIVE The fund aims to provide long-term capital growth by tracking the performance of the top 40 companies listed on the JSE Securities Exchange (JSE). WHO IS THIS FUND FOR? This fund is suitable for investors who want to grow capital over
Fund (Class A) Fund (Gross)* Benchmark Tax-exempt Investor Corporate Investor Private Investor Retirement Fund
5-Yr
7-Yr
10-Yr
Since Inception
14.4 15.2 15.4 14.4 14.3 14.3 14.4
3.3 4.5 4.7 3.3 3.3 3.3 3.3
11.3 12.2 12.5 11.3 11.1 11.1 11.2
18.5 19.4 19.9 18.5 18.4 18.4 18.5
15.7 16.9 17.3 15.7 15.5 15.5 15.6
14.4 15.7 16.0 14.4 14.2 14.2 14.3
Old Mutual Top 40 Fund Class A (5-Year Annualised Rolling)
can tolerate stock market volatility.
RECOMMENDED MINIMUM INVESTMENT TERM
INVESTMENT MANDATE The fund tracks the FTSE/JSE Top 40 Index as closely as possible
and invests in shares included in the index. The portfolio is tailored
to match the performance of the FTSE/JSE Top 40 Index, but other
securities will be held to offset high inflows and index fluctuations. BENCHMARK: FTSE/JSE Top 40 Index ASISA CATEGORY: Domestic – Equity – Large Cap
RISK STATISTICS (5 YEARS Annualised)
FUND
benchmark
Annual Standard Deviation
19.4%
19.5%
Risk/Return Profile Class A (5 Years Annualised)
FUND MANAGER(S):
14%
Craig Chambers (OMIGSA – Dibanisa Fund Managers)
13%
Annual Growth
LAUNCH DATE: 31/01/2001 SIZE OF FUND: R312m DISTRIBUTIONS (Quarterly)*: Date
3-Yr
* Gross returns are shown to illustrate the fund’s index tracking ability before fees.
the long term by tracking the FTSE/JSE Top 40 Index. The investor
1-Yr
Benchmark 12%
11%
Fund
Dividend Interest Total
31/03/2011 3.21c
0.21c
3.42c
31/12/2010 0.93c
0.05c
0.98c
30/09/2010 3.80c
0.23c
4.03c
30/06/2010 0.99c
0.07c
1.06c
* Class A fund distributions
10% 19%
MINIMUM INVESTMENTS:
Monthly: R500 • Lump sum: R10 000 • Ad hoc: R500
Resources Industrials Financials Liquid Assets
INITIAL CHARGES:
48.7% 31.7% 17.6% 2.0%
There is no initial administration charge for investment transactions of R500 and above. Initial adviser fee will be between 0% and 3.42%. Investment transactions below the R500 fund minimum incur a 2.28% administration charge.
ONGOING: Annual service fee: 0.68% p.a. The fee is accrued daily and paid to the management company on a monthly basis. Other charges incurred by the fund, and deducted from its portfolio, are included in the TER.
Total expense ratio (TER): 0.72% (Class A) TER is a historic measure and includes the annual service fee.
10 YEARS
In association with
21%
FUND COMPOSITION
OTHER INVESTMENT CONSIDERATIONS
FUND MANAGERS
20% Annual Volatility
CURRENT PRINCIPAL HOLDINGS HOLDING
SECTOR
BHP Billiton Plc Anglo American Plc SABMiller Plc MTN Group Limited Sasol Ltd Richemont Standard Bank Group Ltd Naspers Ltd Impala Platinum Holdings Ltd AngloGold Ashanti Limited
Basic Resources Basic Resources Food & Beverages Telecommunications Oil & Gas Household Goods Banks Media Basic Resources Basic Resources
Funds are also available via Fairbairn Capital and MAX Investments. Helpline 0860 234 234 Fax +27 21 509 7100 Internet www.omut.co.za Email [email protected]
% OF FUND 15.5 12.1 7.7 6.6 6.4 5.3 4.2 3.8 3.2 3.2
OLD MUTUAL top 40 FUND FUND MANAGER INFORMATION
FUND COMMENTARY as at 31/03/2011
CRAIG CHAMBERS
The fund tracks the FTSE/JSE Top 40 Index and its shareholdings mirror the shares that make up this benchmark. At month-end the benchmark sector allocation was as follows:
QUALIFICATIONS: CFA Charterholder
• Resources
: 47.07%
Postgraduate degree: Business
• Financials
:
15.75%
• Property
:
1.42%
• Industrials
:
35.79%
Administration BCom CURRENT RESPONSIBILITY: As head of the Dibanisa Fund Managers boutique, Craig is responsible for oversight and management of the boutique capability, boutique strategy, marketing, financials and oversight of all investment professionals.
Cash exposure is kept as low as possible to give investors the full benefit of being invested in equities. Investment flows are matched with the corresponding market transactions on a daily basis to ensure that the performance of the fund is in line with its benchmark. Futures contracts are used, when appropriate, to minimise trading costs. The FTSE/JSE Top 40 Index was up by 2.2% over the quarter. The resources sector was
PREVIOUS EXPERIENCE:
up 2.8%, the industrial sector was down 0.3%, and the financial sector was up 0.7%.
Prior to his tenure at Dibanisa Fund Managers, he spent four years at SCMB Asset Managers as a unit trust fund manager.
The fund’s performance was in line with the benchmark index’s return.
The above portfolio performance is calculated on a NAV-NAV basis and does not take any initial fees into account. Income is reinvested on the ex-dividend date. Actual investment performance will differ based on the initial fees applicable, the actual investment date and the date of reinvestment of income. Lump sum basis. Performances are in ZAR and as at 31 March 2011. Sources: Morningstar and OMIGSA (estimated inflation figure for month of March 2011). Unit trusts are generally medium- to long-term investments. Past performance is no indication of future growth. It is important that you are prepared for some shorter term fluctuations as your investment moves in line with the markets. Fluctuations or movements in exchange rates may cause the value of underlying international investments to go up or down. Unit trusts can engage in borrowing and scrip lending. A schedule of fees and charges and maximum commissions is available from the company/intermediary. You can easily sell your investment at the ruling price of the day (calculated at 15h00 on a forward pricing basis and 17h00 at month-end for Old Mutual RAFI® 40 Tracker Fund and Old Mutual Top 40 Fund). The Old Mutual Money Market Fund unit price aims to be static but investment capital is not guaranteed. The total return is primarily made up of interest (declared daily at 13h00), but may also include any gain/loss on any particular instrument and this may result in a capital loss in extreme cases. Specialist equity funds may hold a greater risk as exposure limits to a single security may be higher. A feeder fund portfolio is a portfolio that, apart from assets in liquid form, consists solely of units in a single portfolio of a collective investment scheme. A fund of funds unit trust invests only in other collective investment schemes, which may levy their own charges. Certain funds may be capped in order to be managed in accordance with their mandates. Different classes of units apply to these portfolios and are subject to different fees and charges. Old Mutual is a member of the Association for Savings & Investment SA.
10 YEARS
FUND MANAGERS In association with
Funds are also available via Fairbairn Capital and MAX Investments. Helpline 0860 234 234 Fax +27 21 509 7100 Internet www.omut.co.za Email [email protected]
OLD MUTUAL top 40 FUND FUND INFORMATION 1 2 RISK RATING
FUND PERFORMANCE as at 31/03/2011 3
4
% PERFORMANCE (p.a.)
5
FUND OBJECTIVE The fund aims to provide long-term capital growth by tracking the performance of the top 40 companies listed on the JSE Securities Exchange (JSE). WHO IS THIS FUND FOR? This fund is suitable for investors who want to grow capital over
Fund (Class A) Fund (Gross)* Benchmark Tax-exempt Investor Corporate Investor Private Investor Retirement Fund
5-Yr
7-Yr
10-Yr
Since Inception
14.4 15.2 15.4 14.4 14.3 14.3 14.4
3.3 4.5 4.7 3.3 3.3 3.3 3.3
11.3 12.2 12.5 11.3 11.1 11.1 11.2
18.5 19.4 19.9 18.5 18.4 18.4 18.5
15.7 16.9 17.3 15.7 15.5 15.5 15.6
14.4 15.7 16.0 14.4 14.2 14.2 14.3
Old Mutual Top 40 Fund Class A (5-Year Annualised Rolling)
can tolerate stock market volatility.
RECOMMENDED MINIMUM INVESTMENT TERM
INVESTMENT MANDATE The fund tracks the FTSE/JSE Top 40 Index as closely as possible
and invests in shares included in the index. The portfolio is tailored
to match the performance of the FTSE/JSE Top 40 Index, but other
securities will be held to offset high inflows and index fluctuations. BENCHMARK: FTSE/JSE Top 40 Index ASISA CATEGORY: Domestic – Equity – Large Cap
RISK STATISTICS (5 YEARS Annualised)
FUND
benchmark
Annual Standard Deviation
19.4%
19.5%
Risk/Return Profile Class A (5 Years Annualised)
FUND MANAGER(S):
14%
Craig Chambers (OMIGSA – Dibanisa Fund Managers)
13%
Annual Growth
LAUNCH DATE: 31/01/2001 SIZE OF FUND: R312m DISTRIBUTIONS (Quarterly)*: Date
3-Yr
* Gross returns are shown to illustrate the fund’s index tracking ability before fees.
the long term by tracking the FTSE/JSE Top 40 Index. The investor
1-Yr
Benchmark 12%
11%
Fund
Dividend Interest Total
31/03/2011 3.21c
0.21c
3.42c
31/12/2010 0.93c
0.05c
0.98c
30/09/2010 3.80c
0.23c
4.03c
30/06/2010 0.99c
0.07c
1.06c
* Class A fund distributions
10% 19%
MINIMUM INVESTMENTS:
Monthly: R500 • Lump sum: R10 000 • Ad hoc: R500
Resources Industrials Financials Liquid Assets
INITIAL CHARGES:
48.7% 31.7% 17.6% 2.0%
There is no initial administration charge for investment transactions of R500 and above. Initial adviser fee will be between 0% and 3.42%. Investment transactions below the R500 fund minimum incur a 2.28% administration charge.
ONGOING: Annual service fee: 0.68% p.a. The fee is accrued daily and paid to the management company on a monthly basis. Other charges incurred by the fund, and deducted from its portfolio, are included in the TER.
Total expense ratio (TER): 0.72% (Class A) TER is a historic measure and includes the annual service fee.
10 YEARS
In association with
21%
FUND COMPOSITION
OTHER INVESTMENT CONSIDERATIONS
FUND MANAGERS
20% Annual Volatility
CURRENT PRINCIPAL HOLDINGS HOLDING
SECTOR
BHP Billiton Plc Anglo American Plc SABMiller Plc MTN Group Limited Sasol Ltd Richemont Standard Bank Group Ltd Naspers Ltd Impala Platinum Holdings Ltd AngloGold Ashanti Limited
Basic Resources Basic Resources Food & Beverages Telecommunications Oil & Gas Household Goods Banks Media Basic Resources Basic Resources
Funds are also available via Fairbairn Capital and MAX Investments. Helpline 0860 234 234 Fax +27 21 509 7100 Internet www.omut.co.za Email [email protected]
% OF FUND 15.5 12.1 7.7 6.6 6.4 5.3 4.2 3.8 3.2 3.2
OLD MUTUAL top 40 FUND FUND MANAGER INFORMATION
FUND COMMENTARY as at 31/03/2011
CRAIG CHAMBERS
The fund tracks the FTSE/JSE Top 40 Index and its shareholdings mirror the shares that make up this benchmark. At month-end the benchmark sector allocation was as follows:
QUALIFICATIONS: CFA Charterholder
• Resources
: 47.07%
Postgraduate degree: Business
• Financials
:
15.75%
• Property
:
1.42%
• Industrials
:
35.79%
Administration BCom CURRENT RESPONSIBILITY: As head of the Dibanisa Fund Managers boutique, Craig is responsible for oversight and management of the boutique capability, boutique strategy, marketing, financials and oversight of all investment professionals.
Cash exposure is kept as low as possible to give investors the full benefit of being invested in equities. Investment flows are matched with the corresponding market transactions on a daily basis to ensure that the performance of the fund is in line with its benchmark. Futures contracts are used, when appropriate, to minimise trading costs. The FTSE/JSE Top 40 Index was up by 2.2% over the quarter. The resources sector was
PREVIOUS EXPERIENCE:
up 2.8%, the industrial sector was down 0.3%, and the financial sector was up 0.7%.
Prior to his tenure at Dibanisa Fund Managers, he spent four years at SCMB Asset Managers as a unit trust fund manager.
The fund’s performance was in line with the benchmark index’s return.
The above portfolio performance is calculated on a NAV-NAV basis and does not take any initial fees into account. Income is reinvested on the ex-dividend date. Actual investment performance will differ based on the initial fees applicable, the actual investment date and the date of reinvestment of income. Lump sum basis. Performances are in ZAR and as at 31 March 2011. Sources: Morningstar and OMIGSA (estimated inflation figure for month of March 2011). Unit trusts are generally medium- to long-term investments. Past performance is no indication of future growth. It is important that you are prepared for some shorter term fluctuations as your investment moves in line with the markets. Fluctuations or movements in exchange rates may cause the value of underlying international investments to go up or down. Unit trusts can engage in borrowing and scrip lending. A schedule of fees and charges and maximum commissions is available from the company/intermediary. You can easily sell your investment at the ruling price of the day (calculated at 15h00 on a forward pricing basis and 17h00 at month-end for Old Mutual RAFI® 40 Tracker Fund and Old Mutual Top 40 Fund). The Old Mutual Money Market Fund unit price aims to be static but investment capital is not guaranteed. The total return is primarily made up of interest (declared daily at 13h00), but may also include any gain/loss on any particular instrument and this may result in a capital loss in extreme cases. Specialist equity funds may hold a greater risk as exposure limits to a single security may be higher. A feeder fund portfolio is a portfolio that, apart from assets in liquid form, consists solely of units in a single portfolio of a collective investment scheme. A fund of funds unit trust invests only in other collective investment schemes, which may levy their own charges. Certain funds may be capped in order to be managed in accordance with their mandates. Different classes of units apply to these portfolios and are subject to different fees and charges. Old Mutual is a member of the Association for Savings & Investment SA.
10 YEARS
FUND MANAGERS In association with
Funds are also available via Fairbairn Capital and MAX Investments. Helpline 0860 234 234 Fax +27 21 509 7100 Internet www.omut.co.za Email [email protected]
