Investec Managed Fund
MANAGEMENT Fund Manager's Comment
Gail Daniel, BA (Maths, Eco - Phsyc), BA (Hons) (Economics), MBA
Gail is the head of equities and a director of Investec Asset Management, South Africa. She joined the company in 1991, where she worked on the dealing desk and contributed her analytical skills to the investment team. One year later, Gail joined the investment team and moved wholly into investments where she took responsibility for a selection of institutional fund portfolios and later, the Investec Managed Fund unit trust. She managed the Investec Worldwide Fund unit trust since its inception in 1995 until October 2000, when she was promoted to head of equities in South Africa. Gail continued to manage retail funds, including the flagship Investec Managed Fund unit trust. Gail holds a Master of Business Administration (MBA) degree from the University of Cape Town Graduate School of Business. She also graduated from the University of the Witwatersrand in 1990 with a Bachelor of Arts degree in Mathematics, Economics and Psychology, and gained her Honours in Economics from the University of South Africa in 1991.

The Investec Managed Fund aims to provide investors with stable growth of capital over the long term. The objective is to achieve returns well in excess of the fund's peer group average, measured over three to five year periods. The fund invests in a mix of South African equities, bonds and money market instruments, as well as international equity and fixed interest investments. Regulation 28 currently limits equity exposure to 75% of the fund (90% with listed property) and international exposure to 25% (for retirement funds exempted from the 15% limit). The allocation of assets is actively managed with a strong bias towards equities. Fund features -A balanced fund for investors who don't want to actively manage their own asset allocation -Flexible investment style and stock selection process

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SectorSouth African-Multi Asset-High Equity
Sector Rank: 16 out of 148
(lump sum over 3 years to 31 July 2019)
Overall Rank: 396 out of 1038
(lump sum over 3 years to 31 July 2019)
R1000 invested on 31 July 2016 was worth R 1172 at 31 July 2019
( 5.44% annual compound return)
R100 per month since 31 July 2016 was worth R 3924 at 31 July 2019
( 5.53% annual return compounded monthly)
Formation Date:10 FEB 1994 Holdings:42
Original Price:105 Pricing:Forward
Top Holdings on 31 July 2019
Share (Sector)No.Value% of Fund
BHP (Mining)1,346,404485,728,707 3.16 %
RICHEMONT (Personal Goods)2,001,290239,234,207 1.56 %
MRPRICE (General Retailers)1,223,971242,970,483 1.58 %
FUTURES M (Derivatives)054,358,720 0.35 %
FIRSTRAND (Banks)3,712,845254,515,525 1.65 %
INVESGLOFOCU (Equities)5,971,5743,215,515,292 20.90 %
R2040 (Bond)949,800,000930,536,061 6.05 %
CASH (Cash on call)03,104,303,702 20.18 %
MM-02MONTH (Money Market)0535,901,370 3.48 %
O-IINVGST (Offshore Intern)2,630,9441,152,313,867 7.49 %
U-NEWLD (Exchange Traded Funds)2,208,442414,038,706 2.69 %
NASPERS-N (Software - Computer Services)156,083533,728,940 3.47 %
TOTAL R11,163,145,58072.56%

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