Monday, 23 May 2011 - 20:00
Sharenet is pleased to announce the launch of our new publication, The Sharenet Daily. We have built on the success of our Daily Equity Report, while adding more content and helpful information. The result is a publication that gives readers a quick, easy to read and informative synopsis of market activity, company results and news on the JSE for the day, as well as an overview of what transpired on important overseas markets.
The Sharenet Daily includes helpful charts that give a graphical impression of events, and our news content is sourced from a number of contributors, including Reuters. In addition, Sharenet's popular price information is available in our Spot Price format which provides a snapshot of the JSE and world indices, currencies and commodities.
All the JSE trading statistics; major movers; latest dividends; upcoming AGM dates and more are provided to insure that you keep abreast of market developments. The Sharenet Daily is published at 8pm each day on the website and also distributed via email for your convenience. As always, we welcome your comments, feedback and suggestions at email@example.com
More on the latest ETF
We discussed ETF's – exchange traded funds – last week. Today the JSE announced that approval has been granted for the listing of another variation in the ETF theme. NewFunds Collective Investment Scheme, operated by Absa Capital, which is behind the popular Newgold fund, has now also launched their new MAPPS brand.
ETF’s are gaining in popularity which may start to be self-defeating for the general public. What started off as fairly straightforward will soon see a plethora of variation and choice and hence increased complexity.
MAPPS stands for Multi-Asset Passive Portfolio Solutions. The idea has been to create a fund which can attract pension fund money. All pension investments, including retirement annuity funds must comply with the so-called regulation 28 of the Pension Fund Act.
This regulation states inter alia that a fund must have at all times a maximum of 75% invested into shares.
Their 2 funds will be the MAPPS Protect and the MAPPS Growth. The Protect portfolio will invest into underlying securities in the following ratio:
• 40% into shares that are included into the Swix 40 index
• 15% into government issued nominal bonds
• 35% into government issued inflation linked bonds
• 10% into liquid assets (money market)
While the aim is to provide investment results that will match the price and yield of this composite portfolio, the unit trust cannot guarantee this. The name “protect” may be unfortunate because there does not appear to be any specific downside protection.
According to Newfund's back testing of the fund from January 2006 to March 2006, the fund would have lost 25%.
The MAPPS Growth will access the same underlying components, but in a different ratio. This portfolio will run at the maximum allowable exposure to listed shares, i.e. 75%. The ratios will be:
• 75% into shares included in the SWIX 40 index
• 10% into government issued bonds
• 10% into government issued inflation linked bonds
• 5% into liquid assets (money market)
The Swix 40 index is the shareholder weighted total return index. It ranks shares by market capitalisation, but adjusts for the free float, therefore reducing the weighting for foreign shareholding, cross holdings and strategic holdings.
The fees start at 1%, dropping to 0,8% for investments from R1m to R5million.
While the funds will be traded on the JSE, the net asset value will be published daily.
This together with a market maker will ensure that the traded price will always be close to the sum of the underlying investments.
A fund such as this provides a ready and available benchmark for all pension funds. It definitely enhances the available options available to investors.
A few seats remaining
For investors in Cape Town wanting to join our investment presentation in the Southern Suburbs on the 7th June, please mail Myrna on Myrna@seedinvestments.co.za
Ian de Lange
021 9144 966
Mon, 23 May 2011
World Markets (Spot Prices)
|JSE Top 40||17:00||28123.95||-428.50||-1.50%|
|JSE Indust 25||17:00||27180.63||-477.15||-1.73%|
|Rand / Dollar||19:59||7.0128||0.1066||1.54%|
|Rand / Pound||19:55||11.2694||0.0964||0.86%|
|Rand / Euro||19:55||9.8569||0.0948||0.97%|
|Rand / NZD||19:58||5.5461||0.0580||1.06%|
|Rand / AUD||19:55||7.3800||0.0197||0.27%|
|Yen / Dollar||19:58||81.7700||0.0100||0.01%|
|Euro / Dollar||19:55||0.7118||0.0045||0.64%|
|Dollar / Euro||19:58||1.4054||-0.0080||-0.57%|
|Pound / Dollar||19:55||0.6208||0.0047||0.76%|
Click here for the Sharenet Spot Price page
The JSE Today
|Index Name||RP||Move||% Move|
|Financial & Ind. 30||30,233.81||-540.20||-1.76%|
|Oil & Gas ||26,267.76||-627.86||-2.33%|
|Oil & Gas Producers ||14,123.69||-337.59||-2.33%|
|Basic Materials ||29,694.04||-329.13||-1.10%|
|Forestry & Paper ||14,548.09||-153.70||-1.05%|
|Industrial Metals ||27,582.99||-719.78||-2.54%|
|General Industrials ||74,542.68||-1301.02||-1.72%|
|Consumer Goods ||27,268.63||-442.79||-1.60%|
|Automobiles & Parts ||3,158.92||-11.32||-0.36%|
|Health Care ||32,121.18||-183.85||-0.57%|
|Food Producers ||46,131.32||-767.79||-1.64%|
|Index Name||RP||Move||% Move|
|Personal Goods ||428.47||-9.79||-2.23%|
|Consumer Services ||52,246.02||-1241.62||-2.32%|
|General Retailers ||40,044.45||-716.94||-1.76%|
|Travel & Leisure ||3,617.27||-41.80||-1.14%|
|Support Services ||2,405.62||6.59||0.27%|
|Non-life Insurance ||30,313.79||-446.18||-1.45%|
|Life Insurance ||15,669.39||-223.21||-1.40%|
|General Financial ||2,221.77||-46.19||-2.04%|
|SHARIAH TOP40 ||3,104.85||-39||-1.25%|
|FTSE/JSE SHARIAH ALL||3,166.40||-39||-1.23%|
|FTSE JSE Fledgling ||4,559.68||4||0.10%|
|FTSE/JSE Alt X ||1,023.44||-23||-2.19%|
|SA LISTED PROPERTY ||369.13||-0.62%|
|CAPPED PROPERTY ||309.13||-0.73%|
|FTSE/JSE RAFI 40||6,540.43||-100||-1.50%|
|Capped Top 40||14,676.60||-228||-1.53%|
|Capped All Share||15,786.16||-229||-1.43%|
Click here for the Sharenet Index Summary page
Latest Consensus Changes**
|SHF||STEINHOFF INTERNATIONAL H...||BUY||19 May|
|EMI||EMIRA PROPERTY FUND||HOLD||19 May|
|FSR||FIRSTRAND LIMITED||BUY||19 May|
|NPN||NASPERS LIMITED||BUY||19 May|
|MDC||MEDI-CLINIC CORPORATION L...||HOLD||19 May||
|Expected||Company Name||Fin. Date|
|24 May 2011||CROOKES||March 2011 (Final)|
|24 May 2011||MEDCLIN||March 2011 (Final)|
|24 May 2011||SANTOVA||February 2011 (Final)|
|24 May 2011||STEFSTOCK||February 2011 (Final)|
|24 May 2011||VUKILE||March 2011 (Final)|
|AECI 5.5%P||11-05-20||11-06-03||11-06-15||R 0.3121|
|DORBYL 5.5||11-05-20||11-06-17||11-05-27||R 0.0550|
|CMHP||Combined Motor Holdings Ltd||25/05/2011||Confirmed|
|CMH||Combined Motor Holdings Ltd||25/05/2011||Confirmed|
|CMP||Cipla Medpro South Africa Ltd||25/05/2011||Confirmed||
Stock Exchange News Service
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