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Chris Botha
Get ready for the onslaught... High interest will not protect you from ... Plan for your children's future with tru... UNIT TRUSTS:ABSA Balanced Fun... Wall Street bull ascends the throne once... 'South Africa still a good place to inve... Take delivery of service from the comfor... Is the advice you're getting good for yo... Brokers place their bets on the rollerco... |
UNIT TRUSTS:ABSA Balanced FundThe fund is in the managed prudential category. It has 4 411 unitholders and assets of R239-million. Launched in June 1994, it is managed by Chris Botha for Absa Fund Managers.
TARGET MARKET: Investors with a long-term view who are fairly risk averse. CHARGES (incl. VAT): Compulsary: 0.6%. Initial: 5.46%. Annual service fee: 1.14%. MINIMUM INVESTMENT: Lump sum: R1 000. Monthly R100. PAST PERFORMANCE (per Micropal): THREE YEARS Fund: 45.8% Inflation: 28.4% JSE all-share index: 37.6% Sector average: 55.4% Volatility: 2.6
Performance is calculated on a buy-to-sell basis with income reinvested. PAST INCOME DISTRIBUTION: September 1996: 3.43c (74% interest; 26% dividends). March 1997: 3.53c (55% interest; 45% dividends). TOP 10 HOLDINGS: De Beers; Liberty; Richemont; Absa; Anglos; Nedcor; Gencor; Sasol; Imperial; Tiger Oats. TOLL-FREE: 0800 111 456 ABOUT THE FUND MANAGER: AGE: 31 QUALIFICATIONS: BCom Hons; MCom Business Management EXPERIENCE: Over seven years investment experience. Joined Absa 18 months ago and has managed the fund for a year. INVESTMENT ATTITUDE: The fund has, of late, been more active in smaller counters with great success and will continue to seek companies with exciting growth prospects which offer value. VIEW ON PAST PERFORMANCE: The fund has mainly been invested in blue chip shares which have in general performed poorly. In the past two months, performance has improved significantly, mainly because of a more aggressive investment attitude. THE FUTURE: To become more active in the market from a trading point of view without taking on too much risk.
INDEPENDENT ASSESSMENTThis fund is managed according to the prudential guidelines to achieve a lower volatility than full equity exposure. This may, however, also cause performance to be lower than that of equity funds over the long term. The fund is thus suited to conservative investors who wish to reduce volatility, but still require some exposure to equities for upside potential. The fund has underperformed the sector, mainly because of the conservative investment attitude taken when selecting equities with the largest holdings restricted to blue chips and an under exposure to cash. Lucienne Fild 7/97 Top of page
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