NewFunds Volatility Managed Defensive Equity ETF  
South African--Multi Asset--Flexible
 
Focus and Objective
The Portfolio will track and replicate the NewFunds/Absa Volatility Managed SA Defensive Equity Index, an index which allows an Investor to gain full market exposure to a universe of 30 liquid, JSE-listed equity securities selected on a factor specification to low volatility characteristics demonstrated in their performance. The Portfolio will comprise of both equity securities and cash (assets in liquid form), the proportion of which will be determined by the risk management process (the concurrent target volatility control mechanism and drawdown management process). The target volatility control mechanism aims to increase the proportion allocated to equity securities during periods of low volatility; and in turn increases the proportion allocated to cash during periods of high volatility. Specifically, where volatility rises and exceed the target threshold of 8%, the proportion allocated to cash will be increased. Where such volatility decreases, the proportion allocated to equity securities will be increased. The drawdown management process aims to increase allocation to cash during periods where the drawdown of the equity basket approaches 15% i.e. where there is a 15% fall from the most recent price peak. In all instances the trade threshold is set at 10%.

Management
NewFunds (Pty) Ltd.
 
Comparative Performance
 
 
Technical Overview
Formation Date: 27 Feb 2019
JSE Code: NFEDEF
Benchmark: NewFunds/Absa Volatility Managed SA Defensive Equity Index
Holdings: n/a
Unit Holders: n/a
Original Price: n/a
Pricing System: Forward
Minimum Lump Sum: n/a
Minimum Monthly: n/a
Risk Rating: Low Medium

Fees
TER: n/a
Annual: %
Performance: n/a
 
Top Holdings on 30 Sep 2019
Share No Units Value (Rm) % of Fund
U-TRACI3M 388 253 10.02 22.76%
AB INBEV 786 1.14 2.58%
BATS 1 885 1.06 2.41%
GROWPNT 32 871 0.76 1.72%
RICHEMONT 6 293 0.70 1.60%
Totals   13.68 31.06%

 
Asset Allocation
 
Sectoral Breakdown
NewFunds Volatility Managed Defensive Equity ETF
Price
 
Performance to 12 Dec 2019
R1 000 Lumpsum (NAV-NAV Incl. Dividends)
Period Return Value(R) Inflation(R)
3 Months -0.63% 993.70 1 003.50
6 Months -4.14% 958.60 1 013.30
 
R100 per Month (NAV-NAV Incl. Dividends)
Period Return Value(R) Inflation(R)
3 Months -0.52% 298.96 300.62
6 Months -1.79% 593.76 603.63
* Values for periods greater than one year are annualised
 
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