SYm|mETRY Equity Fund of Funds
SYm|mETRY Equity Fund of Funds Inception Date: Benchmark: Fund Size:
May 2011
Fact Sheet
Category:
June 2001
Shareholder Weighted Index (SWIX)
Domestic - Equity - General Low
Low to Moderate
Moderate
Moderate to High
High
1
2
3
4
5
Risk Profile:
R210 million
Description
Fund Managers
This is a domestic general equity fund aimed at outperforming its peer group in
Manager
Portfolio Manager
the long term. The equity mandates have a risk profile similar to that of a typical
Allocation
Tim Allsop & Omri Thomas
30.4%
Ricco Friedrich
25.8%
Neil Brown & Richard Hasson
10.8%
Terence Craig
33.0%
domestic general equity fund and the volatility of the Fund is lower than that associated with a very aggressively managed equity portfolio. Capital depreciation is possible in the short term.
Performance Data
Fund versus benchmark performance over the long term.
500 450 400
Equity Fund of Funds Benchmark
Inflation
350 300
250
200 150
100
50 Jun-01
Nov-02
Apr-04
Sep-05
Feb-07
Jul-08
Dec-09
May-11
Source: Morningstar as at 31/05/2011
Source: Morningstar as at 31/05/2011
Risk Statistics* Fund -35.9% 35 months 62% 15.1%
% performance (p.a.) Tax-exempt Investor Benchmark: SWIX Corporate Investor Private Investor Retirement Fund
1 year 19.8% 22.2% 19.8% 19.8% 19.8%
3 years 6.4% 5.7% 6.3% 6.3% 6.4%
5 years 10.1% 13.1% 10.1% 10.1% 10.1%
Since 7 years inception 18.4% 14.5% 21.4% 16.9% 18.5% 14.5% 18.5% 14.5% 18.5% 14.5%
Maximum drawdown Longest drawdown % positive months Standard deviation
Benchmark* -37.0% 33 months 64% 17.6%
* SA Equity - FTSE/JSE All Share Index * SA Bonds - All Bond Index
* Risk statistics are calculated based on monthly performance data since the Fund’s inception. Over shorter periods losses are possible in this fund, especially during periods of significant market declines.
NAV-NAV fund performance and gross benchmark returns, both including reinvested income. Lump sum basis. Performances are in ZAR and as at 31 May 2011. Due to the Association for Savings & Investment SA code on advertising, no unit trust fund is allowed to report on performance for less than one year.
Distributions
The Fund of Funds is available via IF, Galaxy, OMUT and Max Investments. If invested via a product that is regulated by the Long-term Insurance Act the above tax classes apply. If invested via a unit trust platform, the investor is responsible for declaring and paying any income tax due.
For the last 12 months: 3.85c per unit 31/12/2010: Distribution 3.85c per unit 31/12/2009: Distribution 11.18c per unit
Monthly Performance History 2006 2007 2008 2009 2010 2011
Jan 9.41% 3.23% -9.48% -2.61% -2.52% -2.04%
Feb -0.79% 0.14% 7.18% -8.48% 0.35% 2.14%
Mar 4.62% 5.70% -1.67% 6.92% 5.33% 0.86%
Apr 3.28% 3.62% 0.91% 2.95% 0.59% 1.91%
May -4.00% 0.68% 1.41% 7.98% -3.33% -0.22%
Jun 1.24% -1.38% -6.52% 0.70% -2.15%
Jul -0.75% -0.66% -3.71% 7.08% 5.72%
Aug 3.71% 0.52% 3.40% 4.50% -2.17%
Sep 1.63% 2.82% -9.49% 1.79% 7.34%
Oct 3.87% 4.93% -9.93% 3.80% 2.64%
Nov 4.30% -2.76% -1.79% -0.79% 0.11%
Tel: 021 509 6566 Fax: 021 503 4079 Website: www.symmetry.co.za Email: [email protected]
1
Dec 5.31% -3.12% 4.90% 2.54% 4.60%
Year 36.1% 14.1% -23.7% 28.3% 17.0%
SYm|mETRY Equity Fund of Funds
May 2011
Fact Sheet
Asset Class Holdings
Top 10 Equity Holdings
110 100 90 80
Domestic Assets Equities Resources Financials Industrials Cash & Other
70 60 50 40
100.0% 97.3% 33.2% 18.6% 45.5% 2.7%
30 20 10
Holding
Sector
MTN Group Limited
Telecommunications
8.2%
Sasol Limited
Oil & Gas
7.3%
Anglo American plc
Basic Materials
5.9%
Old Mutual plc
Financials
4.2%
Standard Bank Group Limited
Financials
4.2%
AngloGold Ashanti Limited
Basic Materials
3.7%
BHP Billiton plc
Basic Materials
3.6%
British American Tobacco plc
Consumer Goods
3.0%
Naspers Limited
Consumer Services
2.9%
Gold Fields Limited
Basic Materials
Total
% of Fund
2.7% 45.7%
0
Diversification While SYm|mETRY researches, appoints and monitors the underlying managers, the managers have flexibility to decide which underlying shares to buy and in what proportions. SYm|mETRY carefully blends managers with complementary investment styles to achieve a well-diversified but dynamic mix of shares. The Fund invests in shares within the Shareholder Weighted Index (SWIX), a broad-based index of highly liquid shares, which allows for active stock selection.
Fund Commentary The local equity market ended the month weaker in line with the majority of its peers globally. Investors globally were averse to risk on the back of mixed macro data from the US and continued concerns about the debt crisis in the EU zone. The US came out with sluggish consumer numbers, which were well below what the market was expecting, coupled with weak unemployment numbers. In Europe, there is still no finality on the Greek debt crisis as political wrangling among the EU members on what measures to take to tackle the problem is overshadowing any effort to resolve the matter. Locally, there was a sharp decline in resources stocks generally, which weighed on the market, particularly coal, gold and platinum mining shares. The oil & gas sector also saw sharp declines with Sasol bearing the brunt of a weaker oil price. The price of Brent crude in US dollars fell by 7.8% during the month; however, it has risen 23% and 58% year to date and over the past 12 months respectively. Industrials were better at 0.7%, buoyed by consumer goods and healthcare stocks, with financials following at 0.4% — although banks were up a marginal 0.1%. The SYm|mETRY Equity Fund of Funds outperformed the SWIX in May, with all four managers in the solution registering returns ahead of the SWIX. An overweight position in British American Tobacco, which is one of the biggest holdings for Abax, was a big positive contributor. An underweight exposure by all our managers in Impala Platinum had the biggest positive impact on performance. Overweight positions in Trencor Limited and Investec were other positive contributors to the Fund. The latter was boosted by better than expected results and an improving business outlook.
Minimum Investments • Monthly: R500 • Lump sum: R10 000 • Ad hoc: R500
Charges 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. Note: Reduced charges only apply to nonretirement investments. Total expense ratio (TER) annualised: 1.65%. This includes all the underlying fees: • Service fee: 0% p.a. • Underlying funds’ service fees: 1.54% (certain managers may charge performance fees). This fee is accrued daily and paid on a monthly basis. • Other charges incurred by the underlying funds are deducted from their portfolios. • As the weightings of the underlying funds may change from time to time the total fees may vary.
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. SYm|mETRY Multimanager is a division of Old Mutual Life Assurance Company (South Africa) Limited, reg no: 1999/004643/06, Licensed Financial Services Provider.
Tel: 021 509 6566 Fax: 021 503 4079 Website: www.symmetry.co.za Email: [email protected]
2
May 2011
Fact Sheet
Category:
June 2001
Shareholder Weighted Index (SWIX)
Domestic - Equity - General Low
Low to Moderate
Moderate
Moderate to High
High
1
2
3
4
5
Risk Profile:
R210 million
Description
Fund Managers
This is a domestic general equity fund aimed at outperforming its peer group in
Manager
Portfolio Manager
the long term. The equity mandates have a risk profile similar to that of a typical
Allocation
Tim Allsop & Omri Thomas
30.4%
Ricco Friedrich
25.8%
Neil Brown & Richard Hasson
10.8%
Terence Craig
33.0%
domestic general equity fund and the volatility of the Fund is lower than that associated with a very aggressively managed equity portfolio. Capital depreciation is possible in the short term.
Performance Data
Fund versus benchmark performance over the long term.
500 450 400
Equity Fund of Funds Benchmark
Inflation
350 300
250
200 150
100
50 Jun-01
Nov-02
Apr-04
Sep-05
Feb-07
Jul-08
Dec-09
May-11
Source: Morningstar as at 31/05/2011
Source: Morningstar as at 31/05/2011
Risk Statistics* Fund -35.9% 35 months 62% 15.1%
% performance (p.a.) Tax-exempt Investor Benchmark: SWIX Corporate Investor Private Investor Retirement Fund
1 year 19.8% 22.2% 19.8% 19.8% 19.8%
3 years 6.4% 5.7% 6.3% 6.3% 6.4%
5 years 10.1% 13.1% 10.1% 10.1% 10.1%
Since 7 years inception 18.4% 14.5% 21.4% 16.9% 18.5% 14.5% 18.5% 14.5% 18.5% 14.5%
Maximum drawdown Longest drawdown % positive months Standard deviation
Benchmark* -37.0% 33 months 64% 17.6%
* SA Equity - FTSE/JSE All Share Index * SA Bonds - All Bond Index
* Risk statistics are calculated based on monthly performance data since the Fund’s inception. Over shorter periods losses are possible in this fund, especially during periods of significant market declines.
NAV-NAV fund performance and gross benchmark returns, both including reinvested income. Lump sum basis. Performances are in ZAR and as at 31 May 2011. Due to the Association for Savings & Investment SA code on advertising, no unit trust fund is allowed to report on performance for less than one year.
Distributions
The Fund of Funds is available via IF, Galaxy, OMUT and Max Investments. If invested via a product that is regulated by the Long-term Insurance Act the above tax classes apply. If invested via a unit trust platform, the investor is responsible for declaring and paying any income tax due.
For the last 12 months: 3.85c per unit 31/12/2010: Distribution 3.85c per unit 31/12/2009: Distribution 11.18c per unit
Monthly Performance History 2006 2007 2008 2009 2010 2011
Jan 9.41% 3.23% -9.48% -2.61% -2.52% -2.04%
Feb -0.79% 0.14% 7.18% -8.48% 0.35% 2.14%
Mar 4.62% 5.70% -1.67% 6.92% 5.33% 0.86%
Apr 3.28% 3.62% 0.91% 2.95% 0.59% 1.91%
May -4.00% 0.68% 1.41% 7.98% -3.33% -0.22%
Jun 1.24% -1.38% -6.52% 0.70% -2.15%
Jul -0.75% -0.66% -3.71% 7.08% 5.72%
Aug 3.71% 0.52% 3.40% 4.50% -2.17%
Sep 1.63% 2.82% -9.49% 1.79% 7.34%
Oct 3.87% 4.93% -9.93% 3.80% 2.64%
Nov 4.30% -2.76% -1.79% -0.79% 0.11%
Tel: 021 509 6566 Fax: 021 503 4079 Website: www.symmetry.co.za Email: [email protected]
1
Dec 5.31% -3.12% 4.90% 2.54% 4.60%
Year 36.1% 14.1% -23.7% 28.3% 17.0%
SYm|mETRY Equity Fund of Funds
May 2011
Fact Sheet
Asset Class Holdings
Top 10 Equity Holdings
110 100 90 80
Domestic Assets Equities Resources Financials Industrials Cash & Other
70 60 50 40
100.0% 97.3% 33.2% 18.6% 45.5% 2.7%
30 20 10
Holding
Sector
MTN Group Limited
Telecommunications
8.2%
Sasol Limited
Oil & Gas
7.3%
Anglo American plc
Basic Materials
5.9%
Old Mutual plc
Financials
4.2%
Standard Bank Group Limited
Financials
4.2%
AngloGold Ashanti Limited
Basic Materials
3.7%
BHP Billiton plc
Basic Materials
3.6%
British American Tobacco plc
Consumer Goods
3.0%
Naspers Limited
Consumer Services
2.9%
Gold Fields Limited
Basic Materials
Total
% of Fund
2.7% 45.7%
0
Diversification While SYm|mETRY researches, appoints and monitors the underlying managers, the managers have flexibility to decide which underlying shares to buy and in what proportions. SYm|mETRY carefully blends managers with complementary investment styles to achieve a well-diversified but dynamic mix of shares. The Fund invests in shares within the Shareholder Weighted Index (SWIX), a broad-based index of highly liquid shares, which allows for active stock selection.
Fund Commentary The local equity market ended the month weaker in line with the majority of its peers globally. Investors globally were averse to risk on the back of mixed macro data from the US and continued concerns about the debt crisis in the EU zone. The US came out with sluggish consumer numbers, which were well below what the market was expecting, coupled with weak unemployment numbers. In Europe, there is still no finality on the Greek debt crisis as political wrangling among the EU members on what measures to take to tackle the problem is overshadowing any effort to resolve the matter. Locally, there was a sharp decline in resources stocks generally, which weighed on the market, particularly coal, gold and platinum mining shares. The oil & gas sector also saw sharp declines with Sasol bearing the brunt of a weaker oil price. The price of Brent crude in US dollars fell by 7.8% during the month; however, it has risen 23% and 58% year to date and over the past 12 months respectively. Industrials were better at 0.7%, buoyed by consumer goods and healthcare stocks, with financials following at 0.4% — although banks were up a marginal 0.1%. The SYm|mETRY Equity Fund of Funds outperformed the SWIX in May, with all four managers in the solution registering returns ahead of the SWIX. An overweight position in British American Tobacco, which is one of the biggest holdings for Abax, was a big positive contributor. An underweight exposure by all our managers in Impala Platinum had the biggest positive impact on performance. Overweight positions in Trencor Limited and Investec were other positive contributors to the Fund. The latter was boosted by better than expected results and an improving business outlook.
Minimum Investments • Monthly: R500 • Lump sum: R10 000 • Ad hoc: R500
Charges 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. Note: Reduced charges only apply to nonretirement investments. Total expense ratio (TER) annualised: 1.65%. This includes all the underlying fees: • Service fee: 0% p.a. • Underlying funds’ service fees: 1.54% (certain managers may charge performance fees). This fee is accrued daily and paid on a monthly basis. • Other charges incurred by the underlying funds are deducted from their portfolios. • As the weightings of the underlying funds may change from time to time the total fees may vary.
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. SYm|mETRY Multimanager is a division of Old Mutual Life Assurance Company (South Africa) Limited, reg no: 1999/004643/06, Licensed Financial Services Provider.
Tel: 021 509 6566 Fax: 021 503 4079 Website: www.symmetry.co.za Email: [email protected]
2
