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9.71  /  0.2%

4825.17

NAV on 2021/09/17
NAV on 2021/09/16 4815.46
52 week high on 2021/09/17 4825.17
52 week low on 2020/09/22 2725.23
Total Expense Ratio on 2021/06/30 1.7
Total Expense Ratio (performance fee) on 0
NAV
Incl Dividends
1 month change 3.56% 3.56%
3 month change 9.18% 9.18%
6 month change 11.32% 12.54%
1 year change 75.07% 76.99%
5 year change 2.6% 4.02%
10 year change 7.7% 8.55%
Price data is updated once a day.
Click and drag to zoom in on timeline.
  • Sectoral allocations
Additional 2.54 0.86%
Basic Materials 19.53 6.62%
Consumer Discretionary 52.58 17.82%
Consumer Goods 0.00 0.00%
Consumer Services 0.00 0.00%
Financials 62.10 21.05%
General Equity 1.20 0.41%
Industrials 48.47 16.43%
Liquid Assets 0.62 0.21%
Specialist Securities 7.77 2.64%
Technology 7.69 2.61%
Offshore 92.49 31.36%
  • Top five holdings
O-CONTGLE 69.93 23.71%
 LEWIS 19.70 6.68%
 CAXTON 15.35 5.21%
 NOVUS 12.70 4.3%
 NAMPAK 12.08 4.09%
  • Performance against peers
  • Fund data  
Management company:
Flagship Private Asset Management (Pty) Limited
Formation date:
2005/05/04
ISIN code:
ZAE000159877
Short name:
U-OSBFLEX
Risk:
Unknown
Sector:
South African--Multi Asset--Flexible
Benchmark:
Multi-Asset Flexible Sector Average
Email
info@flagshipsa.com

Website
http://www.flagshipsa.com

Telephone
021-794-3140

  • Fund management  
Niall Brown
Niall was a director, and for a number of years, head of research at HSBC Securities (formerly Simpson McKie Inc).He was subsequently chief investment officer of HSBC Asset Management (South Africa) and was also the portfolio manager for the Nedbank Entrepreneur Fund which was the top performing smaller companies fund during his tenure. After an 18-year career at HSBC and its predecessor firms, he left the group in December 2000. From 2001 to 2004 he managed a private investment company with great success before deciding to return to the business of managing third-party funds. This led to the formation of Osborne Capital, which subsequently merged with Hermes Asset Management.


  • Fund manager's comment

Flagship IP Flexible Value comment - Dec 20

2021/02/03 00:00:00
The fund advanced 10.5% in December to end the year on a very positive note. Key contributors over the month were Hulamin (+80%), York (+58%), African Rainbow Capital (+46%), Nampak (+29%) and Caxton (+22%). The fund’s offshore equities also had a good month gaining just over 5% in dollar terms. However the rand’s unexpected 5% rally during December negated the USD gains and the net result was a zero sum game in rand terms. The year-end euphoria was not limited to equities, as commodity prices saw further broad based gains. Iron ore was a feature, but oil, copper and many others pushed notably higher. Precious metals also benefited from dollar weakness, higher forecast global inflation and investment demand. The gold price was up nearly 7% and our long held positive view on platinum was finally rewarded as this unloved precious metal rose 11% in USD over the month.
So, after a terrible first few months of the year as the pandemic struck, with the fund price down in excess of 35% at one stage, we ended the year with a small 2.6% negative return - still disappointing and moderately below benchmark as value funds in general underperformed, but a great deal better than looked possible just two months ago. We expect value stocks to continue their recent outperformance after languishing for most of the last 12 years since the Global Financial Crisis. As required by legislation, we confirm that the fund has adhered to its policy objective and strategy.
  • Fund focus and objective  
The Flagship IP Flexible Value Fund aims to outperform both the JSE All Share Index and competing funds over the medium to long term. We rely on fundamental research to identify investments which are trading at a discount to their intrinsic value and to determine which asset classes are the most attractive. The fund will typically have a very different equity profile from that of the All Share Index. Risk is reduced through the fund's value oriented approach.
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