Old Mutual Balanced Fund
MANAGEMENT Fund Manager's Comment
Warren van der Westhuizen, CFA, BCom (Hons in Financial Analysis - Portfolio Management), BCom (Economics)
Warren is a portfolio manager and a member of MacroSolutions equity portfolio team. In addition to this, he is responsible for analysing the boutique s internal systems to source investment ideas. He also undertakes research and analysis on behalf of the equity team. He was a performance analyst at Old Mutual Investment Group for approximately three years, prior to joining the boutique in 2005.
Graham Tucker, BSc (Hons in Actuarial Science), CFA
Graham joined Old Mutual in 2000 and is the portfolio manager of MacroSolutions' range of balanced funds. Before assuming this responsibility in 2014, he was portfolio manager on a number of aggressive funds, including Edge28. In addition, Graham is MacroSolutions' quantitative strategist, risk manager and a member of the asset allocation group. He is quantitatively driven and adds value through his ability to thoroughly test ideas prior to implementation. Prior to joining MacroSolutions, Graham was a quantitative analyst in the Quantitative Research Unit (QRU). There he gained experience in the various risk and data systems within Old Mutual Investment Group, and assisted the team leader with the optimisation procedures for the unit's aggressive equity offering.
FUND OBJECTIVES AND FOCUS

This fund aims to achieve long-term inflation-beating growth. The fund has a growth asset bias and will invest more heavily in shares. The portfolio manager actively allocates to other asset classes to take advantage of changing market conditions and to manage the fund's volatility. This fund is suitable for investors wanting moderate to high long-term growth, with less volatility in the short term than pure equity. It is suitable as a standalone retirement investment. The fund is exposed to all sectors of the market (shares, bonds - property) and may invest up to 25% of its portfolio offshore in line with Treasury guidelines. Derivatives may be used for risk management purposes. The fund complies with retirement fund legislation. It is therefore suitable as a stand-alone fund in retirement products where Regulation 28 compliance is specifically required.


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WEBGRAPH
RANKING
SectorSouth African-Multi Asset-High Equity
SizeR18,270,903,708
Sector Rank: 35 out of 95
(lump sum over 3 years to 31 July 2017)
Overall Rank: 435 out of 818
(lump sum over 3 years to 31 July 2017)
R1000 invested on 31 July 2014 was worth R 1190 at 31 July 2017
( 5.98% annual compound return)
R100 per month since 31 July 2014 was worth R 3930 at 31 July 2017
( 5.63% annual return compounded monthly)
TECHNICAL OVERVIEW
Formation Date:01 MAR 1994 Holdings:217
Original Price:214.29 Pricing:Forward
Top Holdings on 31 July 2017
Share (Sector)No.Value% of Fund
SASOL (Chemicals)1,158,706496,134,735 2.72 %
BATS (Tobacco)667,045553,313,828 3.03 %
NASPERS-N (Media)274,229946,364,279 5.18 %
DERIVATIV (Derivatives)041,291 0.00 %
OLDMUTUAL (Life Insurance)13,787,359523,919,642 2.87 %
FOREIGNUT (Foreign Invest)03,739,453,416 20.47 %
R2032 (Bond)734,311,871687,186,818 3.76 %
NETCARE (Health Care Equipment - Services)9,885,105248,610,391 1.36 %
REMGRO (General Industrials)1,572,439371,095,604 2.03 %
CASH (Cash on call)0509,683,251 2.79 %
MM-09MONTH (Money Market)0400,112,775 2.19 %
ZPLP (Preference Shares)2,870,964183,167,503 1.00 %
U-OMGLOB (International)16,241,234428,599,656 2.35 %
U-NEWPLAT (Exchange Traded Funds)0205,395,157 1.12 %
MTN GROUP (Mobile Telecommunications)3,043,136415,692,378 2.28 %
TOTAL R9,708,770,72453.15%

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