|Absa Money Market Fund|
|MANAGEMENT|| Fund Manager's Comment|
|Juan Bekker, SAIFM|
|Juan joined ABAM in January 2008 and is responsible for the management of ABAM's largest fund, the ABSA Money Market Fund. He also manages the ABSA Income Fund along with other segregated fixed interest funds. Juan entered the asset management industry in 1989 when he joined Senbank Portfolio Management Services, in the fixed interest department. In 1994 he joined Liberty Asset Management where he was responsible for managing the Guard Bank Money Market Fund, along with segregated fixed interest funds. In 2001 Liberty Asset Management and Standard Bank Asset Managers merged to form Stanlib Asset Management, here he managed the Stanlib Institutional Money Market Fund, the Botswana Pula Money Market Fund, the Namibia Cash Plus Fund as well as segregated fixed interest funds.|
|Rehana Rungasamy, B Com, SAIFM|
|Rehana joined Absa Asset Management in May 2008 as a Fixed Interest Rate Dealer, where she assumed responsibility for the money market and bond trading. Previously, she worked for Stanlib Asset Management where she fulfilled different roles, starting out as a Trade Processing Manager before joining their Fixed Interest Rate trading desk as a money market Dealer. Rehana holds a Bcom degree specializing in Accounting and Economics from UNISA.
|FUND OBJECTIVES AND FOCUS|
This fund aims to deliver a higher level of income compared to fixed deposits and call deposits over the short to long term within stringent credit and liquidity parameters, while protecting the initial capital and providing immediate liquidity. The Fund achieves this by investing in high quality (of at least A1 rated) short-term money market instruments. The Fund has a maximum weighted term of 90 days.
|Sector||South African-Interest Bearing-Money Market|
|Sector Rank: 21 out of 31 |
(lump sum over 3 years to 30 June 2015)
|Overall Rank: 239 out of 1038 |
(lump sum over 3 years to 31 July 2019)
|R1000 invested on 31 July 2016 was worth R 1241 at 31 July 2019|
( 7.46% annual compound return)
|R100 per month since 31 July 2016 was worth R 4023 at 31 July 2019|
( 7.10% annual return compounded monthly)
|Formation Date:||02 MAY 1997
|Top Holdings on 31 July 2019|
|Share (Sector)||No.||Value||% of Fund|
|CASH (Cash on call)||0||5,207,169,132|| 6.98 %|
|MM-01MONTH (Money Market)||0||25,911,476,538|| 34.71 %|
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