1NVEST Top 40 ETF  
South African--Equity--Large Cap
 
Focus and Objective
The investment policy of the portfolio shall be to replicate the FTSE/JSE Top 40 Index as closely as possible by, apart from holding assets in a liquid form -
Buying only securities included in the Index, in the weightings in which they have been Included in the Index; and

Selling only securities which are excluded from the Index from time to time as a result of corporate actions or quarterly Index reviews, so as to ensure that at all times the portfolio holds securities included in the Index in the same weightings as they are included in the Index; or

Trading in derivative instruments, as permissible in terms of the Act, to replicate the Index.

The sole purpose of buying and selling securities in the portfolio is to ensure Index tracking and not a profit motive. The manager will therefore not buy or sell securities based on economic, financial, investment judgement or any market analysis. The objective of the portfolio is solely full Index replication. The composition of the portfolio will be adjusted quarterly or at any other time that the Index provider, FTSE/JSE affect changes to the index.

The portfolio shall hold securities purely for the economic rights and benefits attaching thereto and, accordingly, if there is a takeover bid or other corporate actions occurs in relation to any entity the securities of which are included in the portfolio, the portfolio shall not surrender any securities held by the portfolio which may be subject to such takeover bid or other corporate action, unless such surrender is mandatory in terms of any applicable law or under the rules of a regulatory authority or body having jurisdiction over the portfolio and/or the applicable securities. However if any takeover or corporate action results in an entity previously included in the Index no longer qualifying for inclusion in the Index, any securities in such entity held by the portfolio, shall be disposed of by the portfolio and the proceeds derived from such disposal shall be applied in effecting the appropriate adjustments to the portfolio so as to ensure same tracks the Index.

The portfolio's ability to replicate the price and income performance will be affected by the cost and expenses incurred by the portfolio.

Management
Ryan Basdeo, BCom, (Taxation), MBA (Wits), Registered Security Trader
After beginning his career as a financial accountant in the employee benefits industry, Ryan joined STANLIB Asset Management in their Institutional Pricing team in 2008. He got experience in the Offshore Trades Processing team from 2010, before moving on to Alternative Investments as market maker for the ETFs and executing trades for the index-tracking funds, as well as assistance with portfolio management. He was appointed a Portfolio Manager in 2017. Ryan has a BCom in Taxation degree, is a JSE Registered Securities Trader, as well as a Registered Bond Trader and has been awarded a MBA from Wits Business School.
 
Comparative Performance - A Class
 
 
Technical Overview
Formation Date: 18 Oct 2010
JSE Code (A): ETFT40
Benchmark: FTSE/JSE Top 40 Index
Holdings: 42
Unit Holders: 1
Original Price: 2689
Pricing System: Forward
Income Decl: 31/03,30/06,30/09,31/12
Income Pay: 21/04,14/07,13/10,05/01
Minimum Lump Sum: R1 000
Minimum Monthly: R300
Risk Rating: High
 
Dividend Yield A Class
Vertical lines represent dividends.
 
Dividend History - A Class (last 3 years)
30 Sep 2019 16.25c
30 Jun 2019 16.25c
31 Mar 2019 16.25c
8 Jan 2019 16.25c
9 Oct 2018 57.24c
10 Jul 2018 26.45c
10 Apr 2018 41.29c
22 Dec 2017 9.60c
3 Oct 2017 55.09c
27 Jun 2017 12.66c
31 Mar 2017 43.96c
31 Dec 2016 16.48c
30 Sep 2016 42.69c
30 Jun 2016 39.21c
31 Mar 2016 11.24c

Fees
TER, Class-A (30 Sep 2019): 0.28%
Perf Fee TER, Class-A (30 Sep 2019): 0%
Annual, Class-A: 0.288%
Performance, Class-A: n/a
 
Top Holdings on 30 Sep 2019
Share No Units Value (Rm) % of Fund
NASPERS-N 77 993 179.00 16.89%
BHP 377 429 122.72 11.58%
RICHEMONT 921 226 102.88 9.71%
ANGLO 229 011 80.55 7.60%
STANBANK 231 209 40.39 3.81%
Totals   525.54 49.59%

 
Asset Allocation
 
Sectoral Breakdown
1NVEST Top 40 ETF - A Class
Price - A Class
 
Performance to 12 Dec 2019
R1 000 Lumpsum (NAV-NAV Incl. Dividends)
Period Return Value(R) Inflation(R)
3 Months -2.79% 972.10 1 003.50
6 Months -5.23% 947.70 1 013.30
1 Year 10.75% 1 107.50 1 037.30
3 Years 6.73% 1 215.80 1 143.70
5 Years 5.87% 1 330.20 1 280.10
 
R100 per Month (NAV-NAV Incl. Dividends)
Period Return Value(R) Inflation(R)
3 Months 0.61% 301.22 300.62
6 Months -1.49% 594.80 603.63
1 Year 0.51% 1 203.34 1 222.97
3 Years 2.72% 3 755.31 3 837.73
5 Years 3.89% 6 633.74 6 753.49
* Values for periods greater than one year are annualised
 
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