Momentum Bond Fund
MANAGEMENT Fund Manager's Comment
Conrad Wood, B Com (Economics), CFA
Conrad joined Momentum Asset Management in 1994 (then RMB Asset Management) and has been involved in the management of fixed-income portfolios from the start of his career. He was appointed as head of fixed income in October 2007, also taking that role in the new merged entity in February 2011. Conrad and his team currently oversee the management of R80 billion across various fixed income mandates, including for a number of institutional portfolios. He and his team have managed the Momentum Money Market Fund, the Momentum Maximum Income Fund and Momentum Diversified Yield Fund since their inception.
FUND OBJECTIVES AND FOCUS

In order to achieve these objectives, the investments normally to be included in the Momentum Bond Fund will comprise a combination of securities, non-equity securities, gilts, semi gilts and assets in liquid form. The portfolio will be limited to a combination of gilts and interest bearing securities (including loan stock, semi-gilts financially sound debentures, debenture bonds and notes), cash, and any other assets of a similar nature that offer high returns on capital and income and any other securities that the Act or the Registrar may, from time to time allow, all to be acquired at fair market prices. The manager may from time to time invest in participatory interests or any other form of participation in portfolios of collective investment schemes or other similar collective investment schemes as the Act may allow from time to time, and which are consistent with the portfolio's investment policy. Where the aforementioned schemes are operated in territories other than South Africa, participatory interests or any other form of participation in portfolios of these schemes will be included in the portfolio only where the regulatory environment is, to the satisfaction of the manager and the trustee, of sufficient standard to provide investor protection at least equal to that in South Africa.


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WEBGRAPH
RANKING
SectorSouth African-Interest Bearing-Variable Term
SizeR2,132,083,001
Sector Rank: 12 out of 21
(lump sum over 3 years to 31 July 2017)
Overall Rank: 391 out of 818
(lump sum over 3 years to 31 July 2017)
R1000 invested on 31 July 2014 was worth R 1205 at 31 July 2017
( 6.40% annual compound return)
R100 per month since 31 July 2014 was worth R 3982 at 31 July 2017
( 6.45% annual return compounded monthly)
TECHNICAL OVERVIEW
Formation Date:01 FEB 1995 Holdings:75
Original Price:100 Pricing:Forward
Top Holdings on 31 July 2017
Share (Sector)No.Value% of Fund
DERIVATIVB (Derivatives)0852,113 0.04 %
AIRNAM04 (Namibian Gilt)4,053,0004,236,132 0.20 %
R2048 (Bond)246,314,182244,947,283 11.49 %
CASH (Cash on call)0-165,922,615 -7.78 %
MM-05MONTH (Money Market)046,511,220 2.18 %
TOTAL R130,624,1336.13%

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