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5.73  /  0.45%


NAV on 2021/09/22
NAV on 2021/09/21 1280.43
52 week high on 2021/08/24 1309.89
52 week low on 2020/10/30 1106.36
Total Expense Ratio on 2021/06/30 1.17
Total Expense Ratio (performance fee) on 0
Incl Dividends
1 month change -1.53% -1.53%
3 month change 2.05% 2.05%
6 month change 2.78% 3.99%
1 year change 13.15% 16.18%
5 year change 4.16% 7.72%
10 year change 0% 0%
Price data is updated once a day.
Click and drag to zoom in on timeline.
  • Sectoral allocations
Basic Materials 3.56 1.44%
Bond Funds 26.04 10.56%
Consumer Discretionary 2.90 1.18%
Energy 0.01 0.00%
Financials 3.30 1.34%
Fixed Interest 33.99 13.78%
General Equity 79.58 32.27%
Health Care 0.77 0.31%
Industrials 1.48 0.60%
Liquid Assets 22.36 9.07%
Real Estate 6.84 2.77%
SA Bonds 11.48 4.65%
Spec Equity 36.54 14.81%
Specialist Securities 0.44 0.18%
Technology 2.71 1.10%
Telecommunications 0.43 0.18%
Offshore 14.22 5.76%
  • Top five holdings
U-PQBETA 16.89 6.85%
U-CORMM 16.81 6.81%
U-PSCBND 13.36 5.42%
U-AGBOND 12.69 5.14%
U-FAIRTRE 10.91 4.42%
  • Performance against peers
  • Fund data  
Management company:
IP Management Company
Formation date:
ISIN code:
Short name:
South African--Multi Asset--Medium Equity
CPI + 4%

No website listed.


  • Fund management  
Warren Brown
Key Individual, Head of Multimangement, Warren Brown brings with him extensive experience in Derivatives, Fixed Interest, Equities and Multi management. Starting his career as a derivative analyst at HSBC, he joined Syfrets and became CIO of Community Growth and portfolio manager of their flagship Unit Trust Fund. Warren then joined Old Mutual's Multimanager Symmetry as Head of Fixed Interest. As CEO of Investment Consulting at Vunani Fund Solutions and more recently Independent Actuaries and Consultants, Warren combined his asset management experience with fund solution experience.
Tony Bell
Tony manages our range of target return, absolute return and managed equity product offerings. He has over 24 years investment experience and was previously the chief investment officer of Syfrets and Nedcor Investment Bank Asset Management (NIBAM). Tony joined the company in 2000 as head of business development, returning to his fund management roots in October 2008.After assuming responsibility for the target return funds, Tony worked with Fernando Durrell to develop a sophisticated asset allocation framework that is able to adjust to a range of different macro environments. This process, together with active stock and bond selection has had a marked impact on the performance of Vunani Fund Managers’ suite of target return funds. Tony has, in addition, worked with Fernando in developing the absolute return offering. Tony holds a Masters degree from the University of Stellenbosch. His thesis explored determinants of the price formation process of equities.

  • Fund manager's comment

Multi Asset IP Balanced Fund comment - Sep 19

2019/11/01 00:00:00
Financial markets around the globe continue to reflect vulnerability. Vulnerability in political discourse, in trade discussions, in agreement on climate change, and, most recently, on the strength of the US economy. Large scale protests in Hong Kong speak of a populace that no longer trusts the system of representation. UK Prime Minister Johnson, similarly, prorogues parliament in order to circumvent the normal checks and balances leading up to the October Brexit deadline. And all of this while the Zondo commission in South Africa enters its 180th day. No wonder then that businesses have scaled back on new hires and new capital projects. In looking at the most recent dynamic of the 'repo' market at the Fed, we are concerned, particularly in light of the ever-increasing funding shortfalls that sent overnight rates in the US as high as 10 percent. These global forces have impacted currency, interest rate and equity markets with investors seeking greater safety in cash and bonds over equities. We maintain a conservative asset allocation position, favouring cash and nominal bonds over equities.
  • Fund focus and objective  
The MULTI ASSET IP BALANCED FUND aims to achieve moderate capital appreciation with reasonable volatility. The asset allocation of the fund will be varied according to the manager's view on the macroeconomic outlook as well as the attractiveness of each asset class and may include equities, bonds, money market and property.
Investments to be included in the MULTI ASSET IP BALANCED FUND will, apart from assets in liquid form, consist of securities and financial instruments across the equity, fixed interest and property markets, including exchange traded funds and exchange traded notes as permitted by legislation from time to time.
The portfolio may also include participatory interests or any other form of participation in portfolios of collective investment schemes or other similar schemes in the Republic of South Africa. Where the aforementioned schemes are operating in territories other than South Africa, participatory interests or any other form of participation in these schemes will be included in the portfolio only where the regulatory environment is to the satisfaction of the manager and the trustee as provided for in the legislation from time to time.
The portfolio will comply with all prudential requirements and regulations controlling retirement funds or such other applicable legislation as may be determined for retirement funds.

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