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2.97  /  0.33%


NAV on 2021/09/21
NAV on 2021/09/20 910.779
52 week high on 2021/08/17 944.8513
52 week low on 2020/11/03 823.6158
Total Expense Ratio on 2021/06/30 2.44
Total Expense Ratio (performance fee) on 2021/06/30 0
Incl Dividends
1 month change -2.99% -2.99%
3 month change 4% 4%
6 month change 4.29% 4.29%
1 year change 5.23% 5.23%
5 year change 7.77% 7.77%
10 year change 10.27% 10.28%
Price data is updated once a day.
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  • Sectoral allocations
Bond Funds 5.01 2.25%
General Equity 60.37 27.12%
Liquid Assets 2.30 1.04%
Offshore 154.94 69.60%
  • Top five holdings
O-ANINTFX 150.66 67.68%
U-INVMANE 60.37 27.12%
U-SLBOND 5.01 2.25%
  • Performance against peers
  • Fund data  
Management company:
Ci Collective Investments (RF) Prop Ltd.
Formation date:
ISIN code:
Short name:
Worldwide--Multi Asset--Flexible
CPI for all urban areas + 5% p.a. over a rolling 5 year period


011 463 5656

  • Fund management  
Lance Vogel
Dr. Lance Vogel is the Group Chief Strategist of the Analytics Group. Dr Vogel was head of the Investec Analytics business for 3 years, responsible for the management of the funds, the asset allocation and the manager selection. Prior to that he was with Peregrine Structuring, SBC Warburg and JD Anderson. He has a wealth of experience in derivatives research, product development and portfolio construction. Lance was rated by Financial Mail and Finance Week as one of the top three derivatives analysts for three years running. Before a career change took him into the world of finance, he was Chief Scientist at the Atomic Energy Corporation.
Portfolio Analytics (Pty) Ltd

  • Fund manager's comment

Analytics Flexible FoF comment - Sep 12

2012/11/22 00:00:00
QE 3 is now behind us and the European Central Bank has given the markets a glimpse of its bond buying bazooka but uncertainty still dominates. Spain is dragging its heels on a request for a bailout, Greece is now close to asking for a third bailout, Europe is reeling under austerity measures and officials in Washington still refuse to do their jobs as the US election approaches. The chatter and noise back in South Africa has been no less strident with 'Marikana-gate' highlighting the deeply rooted social and economic woes that continue to fester, but these sores are now on the surface as opposed to being conveniently covered with a loose-fitting plaster. The sensible counter to all of this uncertainty for investors has been to hide in high-quality 10-year government bonds, to also seek equity safe-haven status in the US equity market and locally to shun apparently attractively valued resource shares for the comfort of non-cyclical, defensive positions. The SA bond market has also been a haven for yield-starved investors. In another defensive strategy, global corporates have been hoarding cash on balance sheets, locally and offshore, since deploying that capital into this sea of policy uncertainty may turn out to be a poor business decision until more clarity emerges. Unfortunately we have to wait until after the US elections and until after the ANC's Mangaung conference for any hope of policy direction. Another wake-up call for South Africa has just arrived in the form of a Moody's downgrade of a number of local institutions and investment opportunities. Although not unexpected, this downgrade demands focus from our authorities and leaders. The current account deficit has widened significantly, and trade imbalances are persistent as we suffer the backlash from a reduced global demand for our goods and services. Our response will be closely watched, and so Finance Minister Gordhan's medium term budget speech later this month will be a litmus test for the government. The FTSE/JSE All Share Index returned 1.6% for the month of September, with Resources returning 5.7%, and Financials and Industrials returning 0.2% and 0.8%, respectively.
  • Fund focus and objective  
The investment objective of the portfolio is to provide investors with high long-term capital growth. The portfolio may create some income, but it will not be a primary objective for this portfolio.
Investments to be included in the portfolio will, apart from assets in liquid form consist solely of participatory interest in local and global portfolios of collective investment schemes registered in the Republic of South Africa or of participatory interest in collective investment schemes or other similar schemes operated in territories with a regulatory environment which is to the satisfaction of the manager and the trustee of a sufficient standard to provide investor protection which is at least equivalent to that in South Africa. The portfolio will invest in a wide spectrum markets, including equity, bond, money and property markets and may have exposure to financial instruments, subject to prevailing regulations. The asset allocation in the portfolio will be actively managed and the assets will be shifted between the markets and asset classes to reflect changing economic and market conditions. The manager shall have the maximum flexibility to vary assets between the various markets, asset classes and countries to reflect the changing economic and market conditions.
The Manager will be permitted to invest on behalf of the portfolio in offshore investments as legislation permits. Nothing in this Supplemental Deed shall preclude the manager from varying the ratios of securities or assets in liquid form in changing economic environment or market conditions, or to meet the requirements in terms of legislation and from retaining cash or placing cash on deposit in terms of the Deed and this Supplemental Deed.
The Trustee shall ensure that the investment policy set out in this Supplemental Deed is carried out. For the purpose of this portfolio, the manager shall reserve the right to close the portfolio to new investors on a date determined by the manager. This will be done in order to be able to manage the portfolio in accordance with its mandate. The manager may, once a portfolio has been closed, open that portfolio again to new investors on a date determined by the manager.

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