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11.26  /  0.46%


NAV on 2021/09/17
NAV on 2021/09/16 2414.49
52 week high on 2021/09/01 2484.07
52 week low on 2020/11/02 2250.28
Total Expense Ratio on 2021/06/30 1.09
Total Expense Ratio (performance fee) on 0
Incl Dividends
1 month change -1.81% -1.81%
3 month change 0.82% 1.73%
6 month change 0.25% 2.22%
1 year change 5.39% 9.53%
5 year change 1.59% 5.37%
10 year change 5.38% 8.89%
Price data is updated once a day.
Click and drag to zoom in on timeline.
  • Sectoral allocations
Basic Materials 52.58 9.84%
Consumer Discretionary 34.99 6.55%
Energy 0.09 0.02%
Financials 37.97 7.11%
Fixed Interest 16.86 3.16%
Health Care 4.77 0.89%
Industrials 16.58 3.10%
Liquid Assets 44.24 8.28%
Real Estate 2.89 0.54%
SA Bonds 166.99 31.26%
Spec Equity 102.00 19.09%
Specialist Securities 4.98 0.93%
Technology 34.30 6.42%
Telecommunications 9.75 1.82%
Offshore 5.25 0.98%
  • Top five holdings
U-MIGLMAC 71.05 13.3%
U-PERSARE 30.95 5.79%
 NASPERS-N 27.90 5.22%
U-MIPENIN 16.86 3.16%
 ANGLO 13.73 2.57%
  • Performance against peers
  • Fund data  
Management company:
MI-PLAN (Pty) Ltd.
Formation date:
ISIN code:
Short name:
South African--Multi Asset--Medium Equity
CPI plus 5% (before costs)



  • Fund management  
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

MI-PLAN IP Inflation Plus 5 comment - Sep 19

2019/11/01 00:00:00
Financial markets around the globe further 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 HK speak of a populace that no longer trusts the system of representation. Prime Minister Johnson, similarly, prorogues parliament in order to circumvent the normal checks and balances leading up to the October deadline. And all of this while the Zondo commission 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% last week. 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  
To achieve returns of at least 5% annualised in excess of inflation (CPI) over rolling 3 year periods whilst simultaneously controlling the risk of underperforming CPI over any rolling 12 month period. The Mi-Plan IP Inflation Plus 5 Fund is a risk-managed balanced portfolio comprising a range of domestic and foreign asset classes. The fund also forms part of Mi-Plan's range of risk-controlled portfolios in a time-based process designed to integrate the portfolio construction or asset allocation framework with our proprietary financial planning software called MIPLAN.

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