Old Mutual Flexible Fund
MANAGEMENT Fund Manager's Comment
Arthur Karas, BCom, CFA, Portfolio Manager
Arthur joined MacroSolutions as Portfolio Manager in October 2011. Arthur is responsible for the domestic equity portfolios of the dynamic funds, including the Old Mutual Flexible Fund. Prior to joining MacroSolutions, Arthur was the Chief Investment Officer at Hermes Asset Management where he was responsible for the investment process and strategy, equity research and portfolio management. Before joining at Hermes, he served as a senior portfolio manager and an equity analyst at various prominent investment houses, including Quaystone Asset Management, Syfrets and BoE. Arthur has 25 years of investment experience.
Peter Brooke, Head of MacroSolutions, (BBuSc Finance (Hons), Portfolio Manager
Peter is an award-winning analyst who has extensive experience in the investment arena. He worked at a stockbroker for 10 years as an analyst and equity strategist, after which he was the Head of Research and Head of Equities for Cazenove South Africa. Peter joined Old Mutual in May 2005 and has been the Head of MacroSolutions since 2007. Peter has specific responsibility for third-party funds, including the Profile range. He also manages two unit trust funds, Old Mutual Maximum Return Fund of Funds and Old Mutual Flexible Fund. The Old Mutual Edge28 Life Fund is also part of his portfolio. Having analysed countries and companies, Peter can integrate top-down and bottomup drivers and valuations to create an optimal portfolio.

The fund aims to deliver long-term equity-like returns, but at lower levels of volatility than equity. The fund will predominantly invest in shares, but the portfolio manager can invest in less risky asset classes when they offer better value. This fund is suited to investors who want high long-term capital growth, but also want some protection against short-term fluctuations of the equity market. The fund is suitable for long-term savings outside a retirement fund.

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SectorSouth African-Multi Asset-Flexible
Sector Rank: 19 out of 46
(lump sum over 3 years to 31 July 2019)
Overall Rank: 674 out of 1038
(lump sum over 3 years to 31 July 2019)
R1000 invested on 31 July 2016 was worth R 1100 at 31 July 2019
( 3.24% annual compound return)
R100 per month since 31 July 2016 was worth R 3731 at 31 July 2019
( 2.31% annual return compounded monthly)
Formation Date:20 AUG 1996 Holdings:119
Original Price:209.51 Pricing:Forward
Top Holdings on 31 July 2019
Share (Sector)No.Value% of Fund
ANGLO (Mining)307,885123,409,545 2.32 %
BATS (Tobacco)254,486126,530,439 2.38 %
PEPKORH (General Retailers)5,520,24098,757,094 1.86 %
DERIVATIV (Derivatives)025,737 0.00 %
ABSA (Banks)1,011,493178,386,906 3.36 %
ACADIANGLOEQU (Equities)2,203,826356,277,206 6.71 %
R2035 (Bond)201,600,000192,046,334 3.62 %
ASPEN (Pharmaceuticals - Biotechnology)641,41064,346,251 1.21 %
KAP (General Industrials)15,286,40586,215,324 1.62 %
CASH (Cash on call)0106,668,038 2.01 %
MM-08MONTH (Money Market)0156,383,153 2.94 %
ZPLP (Preference Shares)991,23770,377,827 1.33 %
U-OMGLOB (International)05 0.00 %
NASPERS-N (Software - Computer Services)57,904197,179,912 3.71 %
MTN GROUP (Mobile Telecommunications)1,192,690128,202,248 2.41 %
TOTAL R1,884,806,01935.48%

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