JM Busha MET Real Return Fund

JM Busha MET Real Return Fund
31 October 2014
Portfolio Performance
Portfolio Objective
3 year cumulative performance graph based to 100
In selecting securities for this portfolio, the manager shall seek to
secure consistent real capital growth for the investor and, where
possible, positive returns regardless of stock market trends.
Portfolio Information
Launch Date:
Portfolio Size (31/10/2014):
NAV Price (Fund Inception):
NAV Price (31/10/2014):
JSE Code:
ISIN Number:
Classification:
Benchmark:
SA - Multi Asset - Low Equity
CPI + 4%
Minimum Lump Sum:
Minimum Monthly:
Valuation:
Valuation Time:
Dealing Cut-Off Time:
Monthly (%)
Oct'14 Sep'14 Aug'14 Jul'14 Jun'14 May'14 Apr'14 Mar'14 Feb'14 Jan'14 Dec'13 Nov'13
Fund
1.71
Benchmark
0.33
Fund*
1.71
-1.70
-0.82
1.35
0.73
0.41
0.79
1.91
3.02
0.69
1.16
0.61
0.51
0.79
1.63
1.47
-1.70
-0.82
1.34
0.73
0.41
0.79
1.91
Cumulative (%)
-3.40
1.69
-1.26
0.97
0.72
0.33
0.51
3.02
-3.40
1.69
-1.26
Annualised (%)
Fund
B’mark
Fund*
Cash
Inflation
Fund
B’mark
Fund*
Cash
Inflation
1 year
4.32
10.14
4.32
5.73
5.92
4.32
10.14
4.32
5.73
5.92
2 years
16.94
21.37
16.94
11.20
12.23
8.14
10.17
8.14
5.45
5.94
3 years
34.99
33.09
34.99
17.43
18.34
10.52
10.00
10.52
5.50
5.77
5 years
58.56
56.62
58.56
33.15
29.07
9.66
9.39
9.66
5.89
5.24
7 years
77.66
101.11
77.66
63.01
52.82
8.56
10.50
8.56
7.23
6.25
Inception
114.67
125.32
114.67
78.81
64.11
9.91
10.57
9.91
7.46
6.32
Fund* - JM Busha MET Real Return A (incl. ABIL RF)
Asset Allocation (%)
R 5,000
R 300
Daily
15h00
14h00
Income Declaration: 30 Jun/31 Dec
Income Payment:
2nd working day of Jul/Jan
Distribution (cpu)
Jun`13
Dec`13
Jun`14
Dividend
0.520
0.690
0.550
Interest
2.100
2.140
1.890
Total
2.620
2.830
2.440
1.210
4.240
5.450
2013 Total:
Portfolio Costs
Initial Fee – MetCI (incl. VAT):
Initial Fee – Adviser (incl. VAT):
Annual Management Fee (incl. VAT):
Performance Fee:
Portfolio Holdings
No
Regulation 28
15.43
10.31
7.46
7.36
7.30
3.97
3.90
3.23
2.57
2.29
Compliant:
No
Intended Maximum Limits:
Equity
40.00%
Property
25.00%
Equity & Property
65.00%
Foreign
25.00%
Africa
5.00%
Cash
100.00%
Debt
0.00%
Portfolio Risk & Term
MET Collective Investments
0%
0%
1.25%
Total Expense Ratio (TER) (incl. VAT): 1.43%
Top Holdings (%)
SA National Roads Agency Ltd 9.25% 310734
Eskom ILB 29/06/2015
Transnet 8.90% 141127
Republic of South Africa 6.75% 31/03/2021
ABSA 8.80% 110926
Anglo American plc
Sasol Ltd
Sabmiller Plc
Airports Company SA Ltd 11.68% 300423
BHP Billiton
Equity Allocation (%)
2 October 2006
R 13.21 million
100.00 (cpu)
147.65 (cpu)
MJBR
ZAE000084828
Interest Bearing Allocation (%)
Portfolio Mandate
Fund Managers
Policy
The JM Busha Real Return Fund is a specialist portfolio that may consist of financially sound equity securities,
non-equity securities, property shares, property related securities and assets in liquid form and may make use
of derivatives to reduce volatility and risk. In selecting securities for this portfolio, the manager shall seek to
secure consistent real capital growth for the investor and, where possible, positive returns regardless of stock
market trends. The use of derivative strategies may be pursued actively and will only be limited by the
statutory limitations placed on the inclusion of financial instruments in portfolios. Nothing in this Supplemental
Deed shall preclude the manager from varying the ratios of securities or assets in liquid form in changing
economic environment or market conditions, or to meet the requirements in terms of legislation and from
retaining cash or placing cash on deposit in terms of the Deed and this Supplemental Deed.
Limits & Constraints
• Maximum exposure of 25% to offshore investments plus a maximum of 5% in Africa.
• The portfolio’s maximum net equity (incl. International) will never exceed 40% of the portfolio’s market value.
• Maximum property exposure (incl. international) of 25%.
Disclosures
Please note that in most cases where the FSP is a related party to JM Busha Asset Managers (Pty) Ltd and/or MET Collective
Investments (RF) (Pty) Ltd, JM Busha Asset Managers (Pty) Ltd and/or the distributor earns additional fees apart from the FSP’s
client advisory fees. It is the FSP’s responsibility to disclose additional fees to you as the client. Such fees are paid out of the
portfolio’s service charge and range anything between (excl VAT):
Service Fees
JM Busha
Distributor/LISP
Total (Maximum)
Up to 0.35%
Up to 0.75%
Up to 0.00%
Up to 1.10%
Chief Investment Officer
JM Busha Asset Managers
Start Date with Fund: 02 Oct 2006
Contact & Other Information
Scheme
MET Collective Investments Scheme
Custodian/Trustee
Standard Bank of South Africa Limited
Telephone:
+27 (0)21 441 4100
Management Company
FAIS Conflict of Interest Disclosure
MetCI
Joseph Makamba-Busha
BSc, MSc, MPhil
Performance Fees
none
MET Collective Investments (RF) (Pty) Ltd
268 West Avenue, Centurion, 0157
PO Box 7400, Centurion, 0046
Facsimile:
+27 (0)12 675 3889
Call Centre:
0860 111 899
Email:
[email protected]
Web:
www.metci.co.za
Registration No.:
1991/003741/07
The Total Expense Ratio (TER) has been calculated using data from 01 October 2013 until 30 September 2014. The TER is
disclosed as the percentage of the average Net Asset Value of the portfolio that was incurred as charges, levies and fees
related to the management of the portfolio and underlying portfolios. The TER is calculated quarterly but may additionally be
re-calculated with effect from any significant portfolio restructurings and/or fee changes occurring. A higher TER ratio does not
necessarily imply a poor return, nor does a low TER imply a good return. The current TER cannot be regarded as an
indication of future TER’s.
Performance figures quoted are from Morningstar, at the date of this fact sheet, for a lump sum investment, using NAV-NAV
prices with income distributions reinvested. CPI/Inflation figures are lagged by one month. Performance data may not be
displayed for recently launched funds as regulations governing the content of this factsheet preclude the publication of
performance data for any fund/class that is less than 6 months old.
Collective Investment Schemes (CIS) in securities are generally medium- to long-term investments. The value of participatory
interests may go down as well as up and past performance is not necessarily a guide to the future. All CIS are traded at ruling
prices and can engage in borrowing and scrip lending. A schedule of fees and charges and maximum commissions is
available on request from MET Collective Investments (RF) (Pty) Ltd. Commission may be paid and if so, would be included in
the overall costs. Forward pricing is used. Fluctuations or movements in exchange rates may cause the value of underlying
international investments to go up or down. MET Collective Investments (RF) (Pty) Ltd reserves the right to close and reopen
certain portfolios from time to time in order to manage them more efficiently. The fund may borrow up to 10% of the market
value of the portfolio to bridge insufficient liquidity. Different classes of participatory interests apply to certain portfolios, which
are subject to different fees and charges. The exposure limit to a single security, in certain specialist equity portfolios, can be
greater than is permitted for other portfolios in terms of the Collective Investments Schemes Control Act. MET Collective
Investments (RF) (Pty) Ltd’s portfolios are valued daily at 15h00. Instructions must reach MET Collective Investments (RF)
(Pty) Ltd before 14h00 to ensure same-day value. MET Collective Investments (RF) (Pty) Ltd is the Manager of the MET
Collective Investments Scheme, and a full member of the Association for Savings and Investment SA. The Standard Bank of
South Africa Limited (PO Box 54, Cape Town, 8000) is the trustee of MET Collective Investments Scheme. Although
reasonable steps have been taken to ensure the validity and accuracy of the information in this document, MET Collective
Investments (RF) (Pty) Ltd does not accept any responsibility for any claim, damages, loss or expense, howsoever arising, out
of or in connection with the information in this document, whether by a client, investor or intermediary. This document should
not be seen as an offer to purchase any specific product and is not to be construed as advice or guidance in any form
whatsoever. Investors are encouraged to obtain independent professional investment and taxation advice before investing
with or in any of MET Collective Investments (RF) (Pty) Ltd’s products.
JM Busha Asset Managers (Pty) Ltd
JM Busha House, 28 Bompas Road, Dunkeld West, 2198
MET Collective Investments
FSP No:
730
Fax:
+27 (0)11 325 2047
SmartAccess:
0861 60 00 60
Email:
[email protected]
Tel:
+27 (0)11 325 2027
Web:
www.jmbusha.co.za

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