You are currently viewing our desktop site, do you want to download our app instead?
Moneyweb Android App Moneyweb iOS App Moneyweb Mobile Web App

NEW SENS search and JSE share prices

More about the app

0.96  /  0.44%

219.33

NAV on 2021/09/22
NAV on 2021/09/21 218.37
52 week high on 2021/04/19 224.0241
52 week low on 2020/10/30 216.6616
Total Expense Ratio on 2021/06/30 2.62
Total Expense Ratio (performance fee) on 2021/06/30 0
NAV
Incl Dividends
1 month change -0.79% -0.79%
3 month change 0.04% 0.96%
6 month change -1.51% 0.73%
1 year change 0.73% 4.79%
5 year change 0.53% 4.47%
10 year change 4.38% 7.42%
Price data is updated once a day.
Click and drag to zoom in on timeline.
  • Sectoral allocations
General Equity 85.50 22.73%
Liquid Assets 0.78 0.21%
Managed 274.15 72.89%
Real Estate 15.71 4.18%
Spec Equity 0.00 0.00%
  • Top five holdings
U-NOBLFLX 227.58 60.51%
U-PRUOPTI 34.77 9.24%
U-SANASIX 30.98 8.24%
U-INVMAN 24.00 6.38%
U-INVOPPO 22.57 6%
  • Performance against peers
  • Fund data  
Management company:
Boutique Collective Investments (RF) (Pty) Ltd.
Formation date:
2005/06/13
ISIN code:
ZAE000151940
Short name:
U-NOBBALA
Risk:
Unknown
Sector:
South African--Multi Asset--Medium Equity
Benchmark:
CPI plus 3%
Email
clientservices@bcis.co.za

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

Telephone
021-007-1500

  • Fund management  
Piet de Jongh
Pieter van Zyl


  • Fund manager's comment

Noble PP STANLIB Balanced Fund of Funds - Mar 19

2019/05/30 00:00:00
World Economy
US Federal Reserve officials scaled back their projected interest rate increases this year to zero and said they would end the drawdown of the central bank’s bond holdings in September after holding policy steady. The S&P500 index closed the quarter 13% better than it started and within just 5% of all-time highs set ahead of the September meltdown. Investors are banking on a slowing in US interest rate and a mature solution to the threatened trade war between the US and China. The Chinese PMI index rose to a six-month high of 50.5 in March, ahead of economists’ forecasts. Its recovery will ease fears that China’s economy was losing steam after the country posted 6.4% growth for the final three months of 2018 - its slowest expansion in a decade. UK Prime Minister Theresa May said she would ask the EU for a further delay for Brexit beyond April 12 to give her time to sit down with the opposition Labour Party in a bid to break the impasse over Britain’s departure from the bloc.
SA Economy
The South African Reserve Bank left the repurchase rate unchanged at 6.75% as the Monetary Policy Committee indicated that there was little evidence of demand-side pressures to the economy. The JSE All Share Index ended up 7% for the quarter. Moody's released a credit opinion on SA in which it said SA's economic and fiscal performance was in line with other countries that had a Baa3 rating ( the lowest investment-grade ranking). Petrol will increase by R1.34 per litre from April. Also kicking in is the General Fuel Levy, which rises by 5c/l and the Road Accident Fund Levy, by 15c/l. South Africans will also pay 9.41% more for electricity at the end of April, as announced by NERSA. The seasonally-adjusted Absa Purchasing Managers' Index fell for a third consecutive month in March, a survey showed. SA’s trade balance improved in February to +R4 billion, after a very substantial deficit of -R13 billion in January 2019. During March, exports of vehicles surged R8.5 billion while machinery imports declined by R4.2 billion. In the first quarter of 2019 the new car market was down 8.7% compared with 2018. In March, SA new vehicle exports leapt 23.7% from the corresponding month in 2018.
Trends and Opportunities
- The consensus US GDP growth estimate for 2019 is currently 2.4%. - SA headline inflation is expected to average 4.8% in 2019, before increasing to 5.3% in 2020 and moderating to 4.7% in 2021. - SARB revised down its growth forecast for 2019 to 1.3% from 1.7%. 'The intelligent investor is a realist who sells to optimists and buys from pessimists.' ... -Benjamin Graham, Author of The Intelligent Investor.
The commentary gives the views of the portfolio manager at the time of writing. Any forecasts or commentary included in this document are not guaranteed to occur.
  • Fund focus and objective  
The Noble PP BCI Balanced Fund of Funds is a moderate managed fund of funds. The primary investment objective of the portfolio is to provide investors with a moderate level of income and capital growth. The investment policy reflects a spread of investments aimed at income and capital growth normally associated with the investment structure of a retirement fund with a moderate risk profile.
The portfolio complies with prudential investment guidelines to the extent allowed for by the Act, subject to a maximum equity exposure of 60% of the portfolio's total assets.
Investments to be included in the portfolio will, apart from money market instruments and cash, consist of participatory interests and other forms of participation of local and global collective investment schemes, or other similar schemes operated in territories with a regulatory environment which is to the satisfaction of the manager and trustee of a sufficient standard to provide investor protection at least equivalent to that in South Africa and which is consistent with the portfolio's primary objective, investing in equity securities, property securities, non-equity securities, money market instruments, preference shares, listed and unlisted financial instruments, bonds and other interest-bearing instruments and securities.
To the extent that the assets in the portfolio are exposed to exchange rate risk, the manager may enter into financial transactions for the exclusive purpose of hedging such exchange rate risk subject to the conditions and limits as stipulated by the Act. 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.
INSIDER SUBSCRIPTIONS APP VIDEOS RADIO / LISTEN LIVE SHOP OFFERS WEBINARS NEWSLETTERS TRENDING PORTFOLIO TOOL CPD HUB

Follow us: