| Old Mutual Mining and Resources Fund |
| MANAGEMENT | Fund Manager's Comment |
| Ian Woodley, B Eng (Hons), MBA, CFA |
| Ian joined Old Mutual Investment Group South Africa (OMIGSA) in April 2011. He is responsible for the diversified mining companies and non-mining companies such as steel, forestry and paper.
He also manages the Mining and Resources and Gold Unit Trust Funds.
As a qualified engineer, he started his career on the mines, before becoming a mining analyst. After that he moved to Stanlib (then Liberty), where he headed up their mining research and managed a number of retail and institutional mining and equity funds for over 11 years.
Apart from managing resources funds, his later roles at Stanlib included Member of Exco, Head of Equities, Head of Research, Pension Fund Manager, and General Equity Fund Manager. Most recently, Ian was head of Stanlib's Specialist Equity franchise, responsible for R10.7 billion in assets under management. |
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| FUND OBJECTIVES AND FOCUS |
The fund aims to offer superior returns over the medium to longer term. It invests in mining and resources companies showing above average prospects for growth. Up to 15% of the portfolio may be invested offshore. The fund aims to achieve its performance objectives through well-researched and superior share selection. Up to 15% of the portfolio may be invested offshore.
The fund is for investors wishing to invest a portion of their total portfolio in a higher risk sector of the market and who believe mining and resources shares offer strong growth opportunities.
This is an aggressive risk fund (risk rating 5). This fund is riskier than a diversified general equity investment because its assets are concentrated in the mining sector of the stock exchange. In addition, this fund may hold a greater risk as exposure limits to a single security may be higher than that of a general equity fund. The fund is exposed to share price movements, which are affected by the performance of individual companies, general market conditions as well as political and economic changes. Risk is reduced through a diversified portfolio of shares. Poor performance of one share may be offset by stronger performance of other shares.
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