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0.02  /  0.02%

101.11

NAV on 2021/09/17
NAV on 2021/09/16 101.09
52 week high on 2020/09/30 101.36
52 week low on 2021/01/04 100.2
Total Expense Ratio on 2021/06/30 0.73
Total Expense Ratio (performance fee) on 0
NAV
Incl Dividends
1 month change 0.35% 0.35%
3 month change 0.03% 1.02%
6 month change 0.08% 2.04%
1 year change -0.11% 3.98%
5 year change -0.12% 6.9%
10 year change 0% 0%
Price data is updated once a day.
Click and drag to zoom in on timeline.
  • Sectoral allocations
Liquid Assets 10.37 7.11%
Money Market 94.54 64.79%
SA Bonds 41.00 28.10%
  • Top five holdings
MM-19MONTH 14.13 9.68%
MM-35MONTH 13.07 8.96%
MM-04MONTH 10.11 6.93%
MM-24MONTH 10.03 6.87%
MONEYMARK 10.01 6.86%
  • Performance against peers
  • Fund data  
Management company:
IP Management Company
Formation date:
2011/12/28
ISIN code:
ZAE000139010
Short name:
U-FAIRCAS
Risk:
Unknown
Sector:
South African--Interest Bearing--Short Term
Benchmark:
STeFI composite index (net of fees) over rolling 2 year period
Email
clientservices@ipmc.co.za

Website
No website listed.

Telephone
021-673-1340

  • Fund management  
Albert Botha
Albert Botha is Head of Fixed Income Portfolio Management at Ashburton Investments. Albert studied at the University of Stellenbosch, majoring in Actuarial Science, Economics and Financial Risk Management.


  • Fund manager's comment

IP Interest Plus Fund comment - Dec 19

2020/02/20 00:00:00
The fourth quarter saw strong gains from most asset classes as certain risks subsided over the period. These risks included:
* Risks of an escalation in trade wars between mainly the US and China subsided as the 2 nations signed a 'phase 1'trade deal. * Risk of a 'hard Brexit'subsided as election results came out as expected. * Fears of a global recession subsided as both fiscal and monetary stimulus kicked in. * Inflation remained low, allowing more monetary stimulus. * MostDeveloped Economies expanded their balance sheets (QE).
'Risk-on'assets thus outperformed defensives with the S&P 500 Index up 9.1% for the quarter and a very decent 31.5% for the year. On the other side the more defensive City World Bond Index underperformed for the quarter. The US outperformed most other markets (including EM) as their economy performed better than most, adding to overall dollar strenth.
  • Fund focus and objective  
The fund is a specialist income portfolio with moderate risk limits that seeks diversity, reasonable yield enhancement, moderate liquidity and relatively low volatility through constrained interest rate positions. The fund shall at all times run in accordance with the limits, instructions and guidelines contained within Regulation 28 governing the behaviour of pension funds.
The MitonOptimal IP Interest Plus Fund is an actively managed income fund which targets yields that will be higher than those of call accounts and money market funds over time. To achieve this, the portfolio invests in a range of cash, money market instruments, fixed deposits and other income securities. It adds performance by actively participating in the credit market, along with extending the maximum and average instrument maturity.
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