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7.37  /  0.6%

1238.57

NAV on 2021/09/21
NAV on 2021/09/20 1231.2
52 week high on 2021/08/23 1263.67
52 week low on 2020/10/30 1130.97
Total Expense Ratio on 2021/06/30 0.85
Total Expense Ratio (performance fee) on 2021/06/30 0
NAV
Incl Dividends
1 month change -1.99% -1.99%
3 month change 2.63% 2.63%
6 month change 3.42% 4.74%
1 year change 4.72% 8.44%
5 year change 3.31% 7.83%
10 year change 0% 0%
Price data is updated once a day.
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  • Sectoral allocations
Basic Materials 96.54 5.56%
Consumer Discretionary 51.57 2.97%
Derivatives 1.25 0.07%
Energy 1.97 0.11%
Financials 51.16 2.95%
Fixed Interest 146.24 8.42%
Health Care 2.88 0.17%
Industrials 11.52 0.66%
Liquid Assets 33.04 1.90%
Managed 257.34 14.82%
Real Estate 33.10 1.91%
SA Bonds 400.53 23.06%
Specialist Securities 110.17 6.34%
Technology 31.61 1.82%
Telecommunications 14.54 0.84%
Offshore 493.30 28.41%
  • Top five holdings
U-CAMUINT 207.22 11.93%
U-CISAINC 146.24 8.42%
U-NEWGOLD 110.17 6.34%
VANALLWORLD 104.35 6.01%
O-USPROTE 103.39 5.95%
  • Performance against peers
  • Fund data  
Management company:
H4 Collective Investments (RF) Pty Ltd.
Formation date:
2013/05/22
ISIN code:
ZAE000178356
Short name:
U-H4STABL
Risk:
Unknown
Sector:
South African--Multi Asset--Low Equity
Benchmark:
15% STeFI 3-Month, 55% BEASSA All Bond Index, 20% FTSE/JSE All Share (J203T), 10% MSCI All Country World USD Net Return Index (Gross of Fees)
Email
info@h4ci.co.za

Website
http://www.peregrine.co.za/

Telephone
021-670-9100

  • Fund management  
Yolanda B Naude


  • Fund manager's comment

H4 Stable Comment - Dec 19

2020/02/19 00:00:00
Note: Given this fund’s objective, the manager recommends a minimum time horizon of two years for it to achieve its strategic objective. The H4 Stable Fund (‘the fund’) delivered 0.8% in Q4-2019, and has delivered 11.4% versus 6.2% for its SA CPI +2% p.a. benchmark over the past year. In terms of the major asset classes to which the fund was exposed during the quarter, the local equity market (measured by the FTSE/JSE All Share Index) gained 4.6%, slightly behind the FTSE/JSE Capped Top 40 Index (to which the fund is exposed) which was up 5.2%. Local bond prices (All Bond Index) ended the quarter up 1.7% despite the Moody’s rating agency’s announcement of a downgrade in the country’s rating outlook from Stable to Negative; while the local listed property market (FTSE/JSE SA Listed Property Index) gained 0.6%. Global equities (MSCI All Country World Index in US dollars) delivered 9% during Q4-2019’s renewed risk-on phase; while global listed property (MSCI World REITs Index in US dollars) was flat. During the quarter the rand strengthened 8.4% versus the US dollar; detracting significantly from the performance of global assets when measured in rand terms.
There were no marked asset allocation changes in the fund during the quarter. The manager essentially used net inflows to increase the fund’s offshore exposure and further trimmed domestic preference shares into strength. In terms of foreign currency exposure, the manager initiated a new zero cost currency hedge during August on a portion of the fund’s offshore exposure in order to protect it from possible marked rand strength. This protection was in place until mid-December 2019. At quarter-end, the fund held a diversified mix of assets which the manager deems appropriate for the current investment climate. Sizeable asset class exposures included domestic money market and enhanced cash, local and (limited) global government bonds, domestic and global equity, domestic and US protected equity, South African preference shares, as well as limited exposure to global and domestic listed property. The fund continues to adhere to its policy.
  • Fund focus and objective  
The portfolio's investment universe comprises primarily of listed equity securities, fixed interest securities, listed real estate and assets in liquid form. The portfolio is allowed to invest in listed and unlisted financial instruments for the purpose of efficient portfolio management only. It is permitted to invest in offshore investments as legislation permits. The portfolio will be broadly diversified across asset classes and will be managed in accordance with prudential guidelines governing pension funds (i.e. it is Regulation 28 compliant).
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