1NVEST Swix 40 ETF  
South African--Equity--Large Cap
 
Focus and Objective
The investment policy of the portfolio shall be to replicate the FTSE/JSE Swix 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
Rademeyer Vermaak, M Eng.(Electronic), CFA
Rademeyer started his career in 2004 at Liquid Capital Markets in London, UK, where as a quantitative analyst he was responsible for the pricing and risk management of listed derivatives. He progressed to the Quantitative Investment team at Liquid Capital Markets, where he was involved in the research and trading of quantitative investment models. Rademeyer subsequently set up Radian Consulting as a quantitative investment and derivatives risk management consultancy where he consulted on derivatives risk management at Barclays Capital, RBS Sempra Commodities, Lloyds Bank Corporate Markets and Dresdner Kleinwort Investment Bank. More recently, he was a founding partner, Head of Quantitative Research and fund manager of the Mansard CTA quantitative fund at Mansard Capital in London. Upon his return from the UK in 2012, Rademeyer joined Fairtree Capital as quantitative fund manager and risk manager.

 
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): ETFSWX
Benchmark: FTSE/JSE SWIX 40 Index (J400T)
Holdings: 43
Unit Holders: 1
Original Price: 572
Pricing System: Forward
Income Decl: 14/04,14/07,20/10,19/01
Income Pay: 20/04,20/07,26/10,25/01
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)
17 Oct 2023 16.34c
18 Jul 2023 10.98c
18 Apr 2023 11.16c
17 Jan 2023 7.93c
18 Oct 2022 21.81c
19 Jul 2022 12.72c
19 Apr 2022 10.62c
18 Jan 2022 5.61c
19 Oct 2021 18.51c
13 Jul 2021 4.90c
12 Apr 2021 9.56c
13 Jan 2021 2.12c
12 Oct 2020 5.75c
10 Jul 2020 9.58c
8 Apr 2020 4.47c
8 Jan 2020 5.06c

Fees
TER, Class-A (30 Jun 2023): 0.29%
Perf Fee TER, Class-A (30 Jun 2023): 0%
Annual, Class-A: 0.288%
Performance, Class-A: n/a
 
Top Holdings on 30 Sep 2023
Share No Units Value (Rm) % of Fund
NASPERS-N 42 295 127.97 8.58%
FIRSTRAND 1 647 751 105.23 7.05%
STANBANK 440 522 80.93 5.42%
ANGLO 131 687 69.17 4.64%
MTN GROUP 593 577 66.99 4.49%
Totals   450.28 30.17%

 
Asset Allocation
 
Sectoral Breakdown
1NVEST Swix 40 ETF - A Class
Price - A Class
 
Performance to 1 Dec 2023
R1 000 Lumpsum (NAV-NAV Incl. Dividends)
Period Return Value(R) Inflation(R)
3 Months 1.71% 1 017.10 1 020.80
6 Months 2.12% 1 021.20 1 034.60
1 Year 1.90% 1 019.00 1 064.50
3 Years 9.14% 1 299.90 1 219.90
5 Years 8.13% 1 478.40 1 309.30
10 Years 6.89% 1 947.10 1 713.00
 
R100 per Month (NAV-NAV Incl. Dividends)
Period Return Value(R) Inflation(R)
3 Months 7.52% 315.30 303.90
6 Months 3.65% 612.91 613.27
1 Year 1.83% 1 211.97 1 245.44
3 Years 5.07% 3 895.79 3 995.64
5 Years 7.11% 7 222.84 6 969.45
10 Years 5.80% 16 290.79 15 531.13
* Values for periods greater than one year are annualised
 
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