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NAV on 2021/09/23
NAV on 2021/09/22 100
52 week high on 2020/09/29 100
52 week low on 2020/09/29 100
Total Expense Ratio on 2021/06/30 0.59
Total Expense Ratio (performance fee) on 2021/06/30 0
Incl Dividends
1 month change 0% 0.32%
3 month change 0% 0.94%
6 month change 0% 1.89%
1 year change 0% 3.83%
5 year change 0% 6.6%
10 year change 0% 6.18%
Price data is updated once a day.
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  • Sectoral allocations
Liquid Assets 3532.46 21.52%
Money Market 12700.70 77.36%
SA Bonds 184.88 1.13%
  • Top five holdings
MM-01MONTH 3194.39 19.46%
MM-02MONTH 2173.89 13.24%
MM-04MONTH 1700.29 10.36%
MM-03MONTH 1148.26 6.99%
MM-09MONTH 984.85 6%
  • Performance against peers
  • Fund data  
Management company:
Old Mutual Unit Trust Managers (RF) (Pty) Ltd.
Formation date:
ISIN code:
Short name:
South African--Interest Bearing--Money Market
Alexander Forbes Short Term Fixed Interest (STeFI) Index



  • Fund management  
Michael van Rensburg
Michael started his career on the Money Market desk of the Department of Post and Telecommunications. As a Money Market Manager his primary functions were the daily management of cash flows and the investment of surplus funds. He was also responsible for the start-up of the Commercial Paper Bill program and the successful implementation of the counterparty credit limits. After three years on the Money Market desk he moved to the Capital Market as a market maker for Telkom long-term debt. He subsequently joined ABSA where he worked as a market maker for their Treasury Division. Prior to joining Old Mutual Asset Managers, Michael worked for Sanlam Asset Managers as head of Fixed Income Trading.Michael currently heads up Old Mutual Asset Manager's Fixed Income Trading desk. In addition, he also manages the Old Mutual Money Market Fund, the Namibia Money Fund as well as a number of aggressive bond funds.

  • Fund manager's comment

Old Mutual Money Market comment - Dec 19

2020/02/24 00:00:00
Following a rather disappointing Medium-Term Budget Policy Statement (MTBPS) there was a notable weakening in the local rates market. This, together with a weak SA growth environment and fresh rounds of black-outs implemented by Eskom, increased the likelihood of an SA sovereign ratings downgrade next year. This led to an increase in money market yields last quarter. On a more positive note, however, domestic inflation remains low and supportive of a rate cut, which is in line with most other central banks around the world.
Due to the inherent risks in the economy, the forward rate agreement (FRA) curve is currently predicting rates to remain unchanged over the next 12 months. At present, 12 negotiable certificate of deposit (NCD) mid-rates are at 7.65%, up 5 basis points (bps) from the beginning of the quarter – with the spread between 12 months and 3 months JIBAR now at just over 90bps. We are mindful of the potential threats to the economy and, consequently, will look to add to our fixed rate exposure at levels that we deem appropriate for the risk being taken. That said, we continue to be buyers of SA Treasury Bills as these securities are currently trading at a premium and are offering attractive spreads relative to bank NCDs. Additionally, we remain buyers of longerdated floating rate assets as these instruments help in managing the interest rate risk and running yield of the funds.
  • Fund focus and objective  
The fund aims to deliver a regular income and to outperform bank deposits over time, while preserving capital. The fund has never experienced a negative return over any calendar month since inception.
This fund is suited to investors who want a liquid investment that delivers a regular income and/or maximum capital protection, but who understand that their investment is unlikely to keep pace with inflation if held in the long term.
The fund invests in money market securities with a maturity of less than 13 months. The fund's average maturity may not exceed 90 days.
The fund is not required to be Regulation 28 compliant in terms of its Deed, but the fund manager is mandated to comply with Regulation 28 on a day-to-day basis.

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