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3.18  /  1.38%

230.34

NAV on 2021/09/22
NAV on 2021/09/21 227.156
52 week high on 2021/08/31 231.098
52 week low on 2020/10/30 141.697
Total Expense Ratio on 2021/06/30 1.46
Total Expense Ratio (performance fee) on 0
NAV
Incl Dividends
1 month change 1.39% 1.39%
3 month change 6.73% 8.33%
6 month change 18.27% 20.56%
1 year change 51.38% 56.69%
5 year change -10.96% -5.92%
10 year change -0.02% 5.09%
Price data is updated once a day.
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  • Sectoral allocations
Liquid Assets 8.20 0.88%
Real Estate 924.19 99.12%
  • Top five holdings
 NEPIROCK 183.86 19.72%
 GROWPNT 176.28 18.91%
 REDEFINE 94.24 10.11%
 RESILIENT 84.03 9.01%
 FORTRESSA 70.65 7.58%
  • Performance against peers
  • Fund data  
Management company:
Momentum Collective Investments Limited
Formation date:
2004/09/01
ISIN code:
ZAE000057535
Short name:
U-RMBPROP
Risk:
Unknown
Sector:
South African--Real Estate--General
Benchmark:
FTSE/JSE Capped Property index
Email
ci.Clientservice@momentum.co.za

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

Telephone
0860-111-899 (Client Services)

  • Fund management  
Pelo Manyeneng


  • Fund manager's comment

Momentum Real Growth Property comment - Sept 18

2018/12/03 00:00:00
Portfolio positioning
The Momentum Real Growth Equity Fund performed well since inception, establishing a good long-term performance record, measured relative to its own equity benchmark as well as the category peer group. The portfolio did well on a relative basis in difficult and volatile market conditions, delivering 0.1% for the quarter, which was above the peer group average. Over the 12 months ending September 2018 the portfolio registered a return of 4.7%, outperforming the peer group average.
This multi-strategy portfolio is exposed to differentiated investment strategies via five investment managers, namely Aylett, Blue Alpha, Sentio, Steyn and Laurium. These boutique investment managers each have a bottom-up investment approach, backed by fundamentally focused research. While all the investment managers contributed to the long-term delivery of the portfolio, Aylett and Blue Alpha were the main contributors to returns for the last quarter and Aylett and Sentio for the last year.
Aylett's outperformance for the year was primarily due to industry selection, specifically being overweight diversified metals, -mining, -materials and —financials and a large underweight in consumer discretionary excluding retail. Having no exposure to Steinhoff relative to the index also added to returns. The style agnostic manager, Sentio, added to the portfolio's return, benefitting from positive share selection, specifically being overweight Foschini, and underweight Steinhoff, Aspen, British American Tobacco and Tiger Brands.
The Momentum Real Growth Equity Fund had overweight positions to financials and resources at the end of September 2018. The portfolio has a significant underweight to industrials, with a large underweight position to consumer discretionary excluding retailing. The largest contributors to performance for the year ended September 2018 were overweight positions to BHP, Anglo American, ABSA and underweight positions to Steinhoff and MTN. Naspers was the largest share allocation in the portfolio at an 8.7% allocation) and the largest underweight, given the 22.7% allocation in the SWIX benchmark. Other shares with large holdings include Sasol, Anglo American, BHP, Reinet and Old Mutual.
  • Fund focus and objective  
The Momentum Property Fund aims to maximise income yield and longterm capital growth through investments in listed property stocks, predominately listed on the FTSE/JSE.
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