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Select a fund to view frequently asked questions and information on each fund

GLOBAL

Equity

Flexible

Property

BALANCED

Conservative

Moderate

Aggressive

INCOME

Income

MI-PLAN IP SARASIN EQUISAR FEEDER FUND

A global equity fund ideal for investors seeking exposure to foreign markets

Who is the fund aimed at?

The Mi-Plan IP Sarasin Equisar Feeder fund is suitable for use by investors with a longer term investment horizon who are comfortable with shorter term volatility as well as the risk associated with a fund mandated to achieve real long term growth.

What are the investment objectives of the fund?

The objective of the Mi-Plan IP Sarasin Equisar Feeder fund is to offer investors the opportunity for offshore diversification and exposure to global equity markets. The objective of the underlying fund is to achieve long term capital growth through an internationally diversified portfolio of equities and other instruments.

What is a feeder fund?

A feeder fund invests directly into its underlying offshore fund. The client does not make use of their foreign exchange allowance.

What is the underlying fund?

The Sarasin IE Global Equity Opportunities Fund.

How does the manager select its stock?

In recognition of the limitations of geographically determined asset allocations in today’s global economy, the fund’s assets are allocated by global themes which track long term worldwide growth trends that are largely independent of any region or market. The fund then invests in companies that fit these themes.

Who are the fund managers?

Vunani Fund Managers: Tony Bell

Feeder fund: Alex Hunter and Guy Monson

What is the fund’s geographic allocation?

Can I invest in Rands or must I apply for foreign exchange allowance?

This fund is priced in Rands even though the investments in the fund are made on offshore markets.

Why should I invest now?

The fund allows investors to get exposure to foreign markets while investing in Rands. It should be noted that the South African Reserve bank limits collective investment scheme providers to invest no more than 40% of their retail assets under management in offshore markets. This may result in the fund closing for new investments in the future.

What are the fees?

The annual management fee of the fund is 0.75% (excl VAT).

For more details regarding the fees of this fund, please view the factsheet.

Where can I get a factsheet or a minimum disclosure document?

The factsheet can be obtained from the Mi-Plan website here

How can I access the fund?

The Mi-Plan IP Sarasin Equisar Feeder Fund is available on the ABSA Investment Management Services, Glacier, Investec, Momentum and PSG platforms.

Furthermore, to invest directly, click here.

The fund has a minimum investment requirement of a R10 000 lump sum or a minimum monthly payment of R500.

How good is the performance?

 

1 Year Annualised Return

2 Year Annualised Return

3 Year Annualised Return

4 Year Annualised Return

5 Year Annualised Return

%

Rank

%

Rank

%

Rank

%

Rank

%

Rank

Mi-Plan IP Sarasin Equisar Feeder Fund B5

18.04

9 / 71

9.58

14 / 64

14.87

12 / 52

9.85

17 / 43

12.99

15 / 38

Global Multi Asset Flexible sector average

13.52

 

6.98

 

12.56

 

8.63

 

12.09

 

Source: Financial Express 31 October 2019

* Returns are annualised if period is longer than 12 months.

Annualised returns is the weighted average compound growth rate over the performance period measured.

Fund returns shown are based on NAV-NAV unit pricings calculated from INET for a lump-sum investment with income distribution reinvested (after fees and cost).

For updated figures, please review the fund factsheet.

How do I contact Mi-Plan about the fund?

You can call us on 021 657 5960 or email info@miplan.co.za

 

Collective Investment Schemes are generally medium to long term investments. The value of participatory interests or the investment may go down as well as up. Past performance is not necessarily a guide to future performance. Collective investment schemes 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 the manager. Fund invest in portfolios of other Collective Investment Schemes that levy their own charges, which could result in a higher fee structure for the fund. The Manager does not provide any guarantee either with respect to the capital or the return of a portfolio. The Manager retains full legal responsibility for the Fund, regardless of Co-Naming arrangements. Transaction cut-off time is 14:30 daily. Each portfolio may be closed for new investments. Valuation time is 15:00 (17h00 at quarter end). Prices are published daily and available newspapers countrywide, as well as on request from the Manager. IP Management Company (RF) Pty Ltd is the authorised Manager of the Scheme – contact 021 673 1340 or clientservices@ipmc.co.za. Standard Bank is the trustee / custodian – contact compliance-IP@standardbank.co.za. Additional information including application forms, the annual report of the Manager and detailed holdings of the portfolio as at the last quarter end are available, free of charge, from clientservices@ipmc.co.za. IP Management Company is a member of ASISA. A statement of changes in the composition of the portfolio during the reporting period is available on request. The portfolio may include foreign investments and the following additional risks may apply: liquidity constraints when selling foreign investments and risk of non-settlement of trades; macroeconomic and political risks associated with the country in which the investment is made; risk of loss on foreign exchange transactions and investment valuation due to fluctuating exchange rates; risk of foreign tax being applicable; potential limitations on availability of market information which could affect the valuation and liquidity of an investment. All of these risks could affect the valuation of an investment in the fund.

 

For all disclosures please go to www.mi-plan.co.za.

If you would like to print this advert, please click here.

MI-PLAN IP GLOBAL MACRO FUND

A global multi-asset flexible fund ideal for investors wanting exposure to foreign markets and are comfortable with short-term volatility

Who is the fund aimed at?

The Mi-Plan IP Global Macro fund is a global multi-asset flexible fund suitable for investors:

  • With a longer term investment horizon who are comfortable with shorter term volatility and risk associated with a fund mandated to achieve long term capital growth.
  • As part of their long term growth assets as determined by their financial analysis.
  • Seeking actively managed exposure to global equity opportunities whilst seeking to mitigate downside risk that undermines the long term growth objective.

What are the investment objectives of the fund?

Mi-Plan IP Global Macro fund’s objective is to achieve capital appreciation over the medium to long term. There will be no limitations on the relative exposure of the portfolio to any asset class.

What does the fund invest in?

The Mi-Plan IP Global Macro Fund is a global multi-asset flexible fund, investing primarily in foreign markets and can invest in equities, fixed interest and cash.

What investment philosophy does Mi-Plan follow?

The fund follows a philosophy that alpha is generated from being able to assess the degree to which the rate of change in earnings growth differs from current consensus earnings estimates and is progressively discounted into each company’s share price. To assess this, the manager uses seven key inputs, namely: industry, X Factor, Brand, 4P’s (product, position, price, people), distribution, economic leverage and free cash flow impact on RoIC (return on invested capital). In reviewing each of these factors for each company, an understanding is arrived at that provides both a qualitative and quantitative assessment of how earnings growth rates may evolve. This approach, combined with some inference as to the market’s assessment of earnings growth prospects, completes the picture. Portfolio construction and drawdown risk management play a key role in the ultimate portfolio composition. Asset allocation and stock selection vary according to the manager’s macroeconomic view and the attractiveness of each asset class.

Is the fund always fully invested?

No. The benefit of a flexible fund is that the fund manager does not have to invest 100% of the fund in equities if the manager feels other asset classes are more suitable.

Who is the fund manager?

Tony Bell – Having started out as an accountant, Tony moved to Southern Life Asset Management and soon became assistant General Manager of Investments. His move to Syfrets Managed Assets created the opportunity for Tony to become Chief Investment Officer at Nedcor Investment Bank. As CIO of PeregrineQuant and more recently Vunani Fund Managers Tony brings a wealth of experience especially in running the overall asset allocation of the fund. His MBA thesis “Portfolio Management – an Alternative Approach” which was awarded with distinction reflects Tony’s interest in understanding how the macro environment affects markets and asset class returns.

Who is Mi-Plan?

Mi-Plan exists to create and preserve wealth through the application of critical thinking. Established in 2006, we assist our clients to manage their money to achieve their desired outcomes through understanding their future income objectives and then creating and managing the wealth required to meet those plans.

For more information about Mi-Plan visit: www.mi-plan.co.za

What is the fund’s risk profile and time horizon?

The fund is suitable for use by investors with a long-term investment horizon who are comfortable with shorter term volatility as well as the risk associated with a fund mandated to achieve real long-term growth. The fund is also suitable for investors as a part of their long-term growth assets as determined by their financial analysis. Also, investors who seek actively managed exposure to global equity opportunities whilst seeking to mitigate downside risk that undermines the long-term growth objective.

Why should I invest now?

The fund allows investors to get exposure to foreign markets while investing in Rands. It should be noted that the South African Reserve bank limits collective investment scheme providers to invest no more than 40% of their retail assets under management in offshore markets. This may result in the fund closing for new investments in the future.

What are the fees?

The annual management fee for the fund is 1% (excl. VAT).

For more details regarding the fees of this fund, please view the factsheet.

Where can I get a factsheet or a minimum disclosure document?

The factsheet can be obtained from the MiPlan website.

How can I access the fund?

The Mi-Plan IP Global Macro Fund is available on the ABSA Investment Management Services, Allan Gray, Glacier, Investec, Momentum, Old Mutual, PPS and Stanlib platforms.

Furthermore, to invest directly, click here.

The fund has a minimum investment requirement of a R10 000 lump sum or a minimum monthly payment of R500.

How good is the performance?

 

1 Year Annualised Return

2 Year Annualised Return

3 Year Annualised Return

4 Year Annualised Return

5 Year Annualised Return

%

Rank

%

Rank

%

Rank

%

Rank

%

Rank

Mi-Plan IP Global Macro Fund B5

12.30

16 / 41

11.82

3 / 38

15.82

3 / 35

11.52

2 / 32

15.84

1 / 29

Global Multi Asset Flexible sector average

11.06

 

5.42

 

9.59

 

6.85

 

9.84

 

Source: Financial Express 31 October 2019

* Returns are annualised if period is longer than 12 months.

Annualised returns is the weighted average compound growth rate over the performance period measured.

Fund returns shown are based on NAV-NAV unit pricings calculated from INET for a lump-sum investment with income distribution reinvested (after fees and cost).

For updated figures, please review the fund factsheet.

How do I contact Mi-Plan about the fund?

You can call us on 021 657 5960 or email info@miplan.co.za

 

Collective Investment Schemes are generally medium to long term investments. The value of participatory interests or the investment may go down as well as up. Past performance is not necessarily a guide to future performance. Collective investment schemes 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 the manager. Fund invest in portfolios of other Collective Investment Schemes that levy their own charges, which could result in a higher fee structure for the fund. The Manager does not provide any guarantee either with respect to the capital or the return of a portfolio. The Manager retains full legal responsibility for the Fund, regardless of Co-Naming arrangements. Transaction cut-off time is 14:30 daily. Each portfolio may be closed for new investments. Valuation time is 15:00 (17h00 at quarter end). Prices are published daily and available newspapers countrywide, as well as on request from the Manager. IP Management Company (RF) Pty Ltd is the authorised Manager of the Scheme – contact 021 673 1340 or clientservices@ipmc.co.za. Standard Bank is the trustee / custodian – contact compliance-IP@standardbank.co.za. Additional information including application forms, the annual report of the Manager and detailed holdings of the portfolio as at the last quarter end are available, free of charge, from clientservices@ipmc.co.za. IP Management Company is a member of ASISA. A statement of changes in the composition of the portfolio during the reporting period is available on request. The portfolio may include foreign investments and the following additional risks may apply: liquidity constraints when selling foreign investments and risk of non-settlement of trades; macroeconomic and political risks associated with the country in which the investment is made; risk of loss on foreign exchange transactions and investment valuation due to fluctuating exchange rates; risk of foreign tax being applicable; potential limitations on availability of market information which could affect the valuation and liquidity of an investment. All of these risks could affect the valuation of an investment in the fund.

 

For all disclosures please go to: www.mi-plan.co.za

If you would to print this advert, please click here.

MI-PLAN IP GLOBAL PROPERTY FEEDER FUND

A global property fund ideal for investors seeking exposure to globally listed real estate

Who is the fund aimed at?

The Mi-Plan IP Global Property Feeder fund is suitable for investors with a long term investment horizon who are comfortable with shorter term volatility as well as the risk associated with a fund mandated to achieve long term growth.

What are the investment objectives of the fund?

The objective of the Mi-Plan IP Global Property Feeder fund is to offer investors the opportunity for offshore diversification and exposure to global listed real estate. The investment objective of the underlying portfolio is to achieve long term capital growth.

What is a feeder fund?

A feeder fund invests directly into its underlying offshore fund. The client does not make use of their foreign exchange allowance.

What is the underlying fund?

The Sarasin IE Global Real Estate Equity Fund.

What does the fund invest in?

The objective of the Mi-Plan IP Global Property Feeder Fund is to offer investors the opportunity for offshore diversification and exposure to global listed real estate. The investment objective of the underlying portfolio is to achieve long term capital growth.

How does the manager select its stock?

The fund initially has a top down asset allocation process to decide on the geographic and sector tilts. It then checks that valuations are not already pricing in the expectations which lead to the fund’s geographic and sector tilts. The focus is on quality and tradability. A liquidity screen is used to eliminate poorly tradeable stocks. Detailed research is undertaken in companies that are likely to benefit from long term trends such as the strength of global trade hubs, the growing problem of data obesity, valuable voids and the evolution and modernisation of retail. The fund performs fundamental analysis for each of the companies selected and look at corporate characteristics such as quality of assets, location, active and strong management with well defined strategy, solid balance sheet, scale advantage and resilient earnings. The fund ends up with a “Buy” list of high conviction stocks and construct a portfolio of around 50 stocks.

Who are the fund managers?

Vunani Fund Managers: Tony Bell

Feeder fund: Simon Rivett-Carnac, Raymond Lahaut & Phil Collins

What is the fund’s geographic allocation?

Can I invest in Rands or must I apply for foreign exchange allowance?

This fund is priced in Rands even though the investments in the fund are made on offshore markets.

Why should I invest now?

The fund allow investors to get exposure to foreign markets while investing in Rands. It should be noted that the South African Reserve bank limits collective investment scheme providers to invest no more than 40% of their retail assets under management in offshore markets. This may result in the fund closing for new investments in the future.

What are the fees?

The annual management fee is 0.50% (excl. VAT).

For more details regarding the fees of this fund, please view the factsheet

How can I access the fund?

The Mi-Plan IP Global Property Feeder Fund is available on the Allan Gray, Glacier, Investec, Momentum and, Stanlib platforms.

Furthermore, to invest directly, click here.

The fund has a minimum investment requirement of a R10 000 lump sum or a minimum monthly payment of R500.

Where can I get a factsheet or a minimum disclosure document?

The factsheet can be obtained from the Mi-Plan website.

How good is the performance?

 

1 Year Annualised Return

2 Year Annualised Return

3 Year Annualised Return

4 Year Annualised Return

5 Year Annualised Return

%

Rank

%

Rank

%

Rank

%

Rank

%

Rank

Mi-Plan IP Global Property Feeder Fund B5

12.13

19 / 20

7.19

17 / 18

9.32

10 / 12

5.22

7 / 9

10.41

5 / 7

Global Real Estate sector average

20.37

 

11.43

 

11.32

 

6.53

 

10.86

 

Source: Financial Express 31 October 2019

* Returns are annualised if period is longer than 12 months.

Annualised returns is the weighted average compound growth rate over the performance period measured.

Fund returns shown are based on NAV-NAV unit pricings calculated from INET for a lump-sum investment with income distribution reinvested (after fees and cost).

For updated figures, please review the fund factsheet.

How do I contact Mi-Plan about the fund?

You can call us on 021 657 5960 or email info@miplan.co.za

 

Collective Investment Schemes are generally medium to long term investments. The value of participatory interests or the investment may go down as well as up. Past performance is not necessarily a guide to future performance. Collective investment schemes 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 the manager. Fund invest in portfolios of other Collective Investment Schemes that levy their own charges, which could result in a higher fee structure for the fund. The Manager does not provide any guarantee either with respect to the capital or the return of a portfolio. The Manager retains full legal responsibility for the Fund, regardless of Co-Naming arrangements. Transaction cut-off time is 14:30 daily. Each portfolio may be closed for new investments. Valuation time is 15:00 (17h00 at quarter end). Prices are published daily and available newspapers countrywide, as well as on request from the Manager. IP Management Company (RF) Pty Ltd is the authorised Manager of the Scheme – contact 021 673 1340 or clientservices@ipmc.co.za. Standard Bank is the trustee / custodian – contact compliance-IP@standardbank.co.za. Additional information including application forms, the annual report of the Manager and detailed holdings of the portfolio as at the last quarter end are available, free of charge, from clientservices@ipmc.co.za. IP Management Company is a member of ASISA. A statement of changes in the composition of the portfolio during the reporting period is available on request. The portfolio may include foreign investments and the following additional risks may apply: liquidity constraints when selling foreign investments and risk of non-settlement of trades; macroeconomic and political risks associated with the country in which the investment is made; risk of loss on foreign exchange transactions and investment valuation due to fluctuating exchange rates; risk of foreign tax being applicable; potential limitations on availability of market information which could affect the valuation and liquidity of an investment. All of these risks could affect the valuation of an investment in the fund.

 

For all disclosures please go to www.mi-plan.co.za

If you would like to print this advert, please click here.

MI-PLAN IP INFLATION PLUS 3

A low-equity fund ideal for low-risk investors requiring a growing regular income

Who is the fund aimed at?

The Mi-Plan IP Inflation Plus 3 fund is regulation 28 compliant fund and is aimed at retirees who are ideally looking for a multi-asset strategy with diversified exposure to both, local and foreign asset classes with the following risk profiles and time horizons in mind:

FUND RISK PROFILE MINIMUM TIME HORIZON
Mi-Plan IP Inflation Plus 3 Conservative 2-3 years

What are the investment objectives of the fund?

Mi-Plan IP Inflation Plus 2-3: To achieve returns of at least 3% annualised in excess of inflation (CPI) over rolling 3 year periods whilst simultaneously controlling the risk of underperforming CPI over any rolling 12 month period.

What does the fund invest in?

The fund invests in a mix of domestic and foreign asset classes, namely equities, fixed interest and cash. The fund complies with Regulation 28 limits and ASISA limits and are subject to a maximum of 75% equity, 25% listed property, 40% offshore assets and 10% in hedge funds as prescribed by the South African Reserve Bank.

What investment philosophy does Mi-Plan follow?

The fund follows a philosophy that alpha is generated from being able to assess the degree to which the rate of change in earnings growth differs from current consensus earnings estimates and is progressively discounted into each company’s share price. To assess this, the manager uses seven key inputs, namely: industry, X Factor, Brand, 4P’s (product, position, price, people), distribution, economic leverage and free cash flow impact on RoIC (return on invested capital). In reviewing each of these factors for each company, an understanding is arrived at that provides both a qualitative and quantitative assessment of how earnings growth rates may evolve. This approach, combined with some inference as to the market’s assessment of earnings growth prospects, completes the picture. Portfolio construction and drawdown risk management play a key role in the ultimate portfolio composition. Asset allocation and stock selection vary according to the manager’s macroeconomic view and the attractiveness of each asset class.

Who is the fund manager?

Tony Bell – Having started out as an accountant, Tony moved to Southern Life Asset Management and soon became assistant General Manager of Investments. His move to Syfrets Managed Assets created the opportunity for Tony to become Chief Investment Officer at Nedcor Investment Bank. As CIO of PeregrineQuant and more recently Vunani Fund Managers Tony brings a wealth of experience especially in running the overall asset allocation of the fund. His MBA thesis “Portfolio Management – an Alternative Approach” which was awarded with distinction reflects Tony’s interest in understanding how the macro environment affects markets and asset class returns.

Who is Mi-Plan?

Mi-Plan exists to create and preserve wealth through the application of critical thinking. Established in 2006, we assist our clients to manage their money to achieve their desired outcomes through understanding their future income objectives and then creating and managing the wealth required to meet those plans.

For more information about Mi-Plan visit: www.mi-plan.co.za

What are the fees?

The annual management fee for the fund is 0.75% (excl. VAT).

For more details regarding the fees of this fund, please view the factsheet.

How can I access the fund?

The Mi-Plan IP Inflation Plus 3 fund is available on the ABSA Investment Management Services, Allan Gray, Glacier, Investec, Momentum, Old Mutual, PPS, PSG and Stanlib platforms.

Furthermore, to invest directly, click here.

The fund has a minimum investment requirement of a R10 000 lump sum or a minimum monthly payment of R500.

Where can I get a factsheet or a minimum disclosure document?

The factsheet can be obtained from the Mi-Plan website.

How good is the performance?

 

1 Year 

Annualised Return

2 Year Annualised Return

3 Year Annualised Return

4 Year Annualised Return

5 Year Annualised Return

%

Rank

%

Rank

%

Rank

%

Rank

%

Rank

Mi-Plan IP Inflation Plus 3 B5

7.20

90 / 151

5.52

29 / 146

6.25

63 / 132

5.26

52 / 112

6.75

28 / 94

South African Multi Asset Low Equity sector average

7.42

 

4.18

 

6.00

 

5.22

 

6.11

 

Source: Financial Express 31 October 2019

* Returns are annualised if period is longer than 12 months.

Annualised returns is the weighted average compound growth rate over the performance period measured.

Fund returns shown are based on NAV-NAV unit pricings calculated from INET for a lump-sum investment with income distribution reinvested (after fees and cost).

For updated figures, please review the fund factsheet.

How do I contact Mi-Plan about the fund?

You can call us on 021 657 5960 or email info@miplan.co.za

 

Collective Investment Schemes are generally medium to long term investments. The value of participatory interests or the investment may go down as well as up. Past performance is not necessarily a guide to future performance. Collective investment schemes 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 the manager. Fund invest in portfolios of other Collective Investment Schemes that levy their own charges, which could result in a higher fee structure for the fund. The Manager does not provide any guarantee either with respect to the capital or the return of a portfolio. The Manager retains full legal responsibility for the Fund, regardless of Co-Naming arrangements. Transaction cut-off time is 14:30 daily. Each portfolio may be closed for new investments. Valuation time is 15:00 (17h00 at quarter end). Prices are published daily and available newspapers countrywide, as well as on request from the Manager. IP Management Company (RF) Pty Ltd is the authorised Manager of the Scheme – contact 021 673 1340 or clientservices@ipmc.co.za. Standard Bank is the trustee / custodian – contact compliance-IP@standardbank.co.za. Additional information including application forms, the annual report of the Manager and detailed holdings of the portfolio as at the last quarter end are available, free of charge, from clientservices@ipmc.co.za. IP Management Company is a member of ASISA. A statement of changes in the composition of the portfolio during the reporting period is available on request. The portfolio may include foreign investments and the following additional risks may apply: liquidity constraints when selling foreign investments and risk of non-settlement of trades; macroeconomic and political risks associated with the country in which the investment is made; risk of loss on foreign exchange transactions and investment valuation due to fluctuating exchange rates; risk of foreign tax being applicable; potential limitations on availability of market information which could affect the valuation and liquidity of an investment. All of these risks could affect the valuation of an investment in the fund.

 

For all disclosures please go to www.mi-plan.co.za

If you would like to print this advert, click here

MI-PLAN IP INFLATION PLUS 5

A medium-equity fund ideal for moderate-risk investors requiring a growing regular income

Who is the fund aimed at?

The Mi-Plan IP Inflation Plus 5 fund is regulation 28 compliant fund and is aimed at retirees/discretionary investors who are ideally looking for a multi-asset strategy with diversified exposure to both, local and foreign asset classes with the following risk profiles and time horizons in mind:

FUND RISK PROFILE MINIMUM TIME HORIZON
Mi-Plan IP Inflation Plus 5 Moderate 3-5 years

What are the investment objectives of the fund?

Mi-Plan IP Inflation Plus 4-5: To achieve returns of at least 5% annualised in excess of inflation (CPI) over rolling 3 year periods whilst simultaneously controlling the risk of underperforming CPI over any rolling 12 month period.

What does the fund invest in?

The fund invests in a mix of domestic and foreign asset classes, namely equities, fixed interest and cash. The fund complies with Regulation 28 limits and ASISA limits and are subject to a maximum of 75% equity, 25% listed property, 40% offshore assets and 10% in hedge funds as prescribed by the South African Reserve Bank.

What investment philosophy does Mi-Plan follow?

The fund follows a philosophy that alpha is generated from being able to assess the degree to which the rate of change in earnings growth differs from current consensus earnings estimates and is progressively discounted into each company’s share price. To assess this, the manager uses seven key inputs, namely: industry, X Factor, Brand, 4P’s (product, position, price, people), distribution, economic leverage and free cash flow impact on RoIC (return on invested capital). In reviewing each of these factors for each company, an understanding is arrived at that provides both a qualitative and quantitative assessment of how earnings growth rates may evolve. This approach, combined with some inference as to the market’s assessment of earnings growth prospects, completes the picture. Portfolio construction and drawdown risk management play a key role in the ultimate portfolio composition. Asset allocation and stock selection vary according to the manager’s macroeconomic view and the attractiveness of each asset class.

Who is the fund manager?

Tony Bell – Having started out as an accountant, Tony moved to Southern Life Asset Management and soon became assistant General Manager of Investments. His move to Syfrets Managed Assets created the opportunity for Tony to become Chief Investment Officer at Nedcor Investment Bank. As CIO of PeregrineQuant and more recently Vunani Fund Managers Tony brings a wealth of experience especially in running the overall asset allocation of the fund. His MBA thesis “Portfolio Management – an Alternative Approach” which was awarded with distinction reflects Tony’s interest in understanding how the macro environment affects markets and asset class returns.

Who is Mi-Plan?

Mi-Plan exists to create and preserve wealth through the application of critical thinking. Established in 2006, we assist our clients to manage their money to achieve their desired outcomes through understanding their future income objectives and then creating and managing the wealth required to meet those plans.

For more information about Mi-Plan visit: www.mi-plan.co.za

How can I access the fund?

The Mi-Plan IP Inflation Plus 5 fund is available on the ABSA Investment Management Services, Allan Gray, Glacier, Investec, Momentum, Old Mutual, PPS, PSG and Stanlib platforms.

Furthermore, to invest directly, click here.

The fund has a minimum investment requirement of a R10 000 lump sum or a minimum monthly payment of R500.

What are the fees?

The annual management fee for the fund is 0.75% (excl. VAT).

For more details regarding the fees of this fund, please view the factsheet.

Where can I get a factsheet or a minimum disclosure document?

The factsheet can be obtained from the Mi-Plan website.

How good is the performance?

 

1 Year 

Annualised Return

2 Year Annualised Return

3 Year Annualised Return

4 Year Annualised Return

5 Year Annualised Return

%

Rank

%

Rank

%

Rank

%

Rank

%

Rank

Mi-Plan IP Inflation Plus 5 B5

7.13

56 / 92

3.45

23 / 84

5.10

53 / 77

3.97

42 / 68

5.75

20 / 59

South African Multi Asset Medium Equity sector average

7.61

 

2.62

 

5.34

 

4.03

 

5.24

 

Source: Financial Express 31 October 2019

* Returns are annualised if period is longer than 12 months.

Annualised returns is the weighted average compound growth rate over the performance period measured.

Fund returns shown are based on NAV-NAV unit pricings calculated from INET for a lump-sum investment with income distribution reinvested (after fees and cost).

For updated figures, please review the fund factsheet.

How do I contact Mi-Plan about the fund?

You can call us on 021 657 5960 or email info@miplan.co.za

 

Collective Investment Schemes are generally medium to long term investments. The value of participatory interests or the investment may go down as well as up. Past performance is not necessarily a guide to future performance. Collective investment schemes 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 the manager. Fund invest in portfolios of other Collective Investment Schemes that levy their own charges, which could result in a higher fee structure for the fund. The Manager does not provide any guarantee either with respect to the capital or the return of a portfolio. The Manager retains full legal responsibility for the Fund, regardless of Co-Naming arrangements. Transaction cut-off time is 14:30 daily. Each portfolio may be closed for new investments. Valuation time is 15:00 (17h00 at quarter end). Prices are published daily and available newspapers countrywide, as well as on request from the Manager. IP Management Company (RF) Pty Ltd is the authorised Manager of the Scheme – contact 021 673 1340 or clientservices@ipmc.co.za. Standard Bank is the trustee / custodian – contact compliance-IP@standardbank.co.za. Additional information including application forms, the annual report of the Manager and detailed holdings of the portfolio as at the last quarter end are available, free of charge, from clientservices@ipmc.co.za. IP Management Company is a member of ASISA. A statement of changes in the composition of the portfolio during the reporting period is available on request. The portfolio may include foreign investments and the following additional risks may apply: liquidity constraints when selling foreign investments and risk of non-settlement of trades; macroeconomic and political risks associated with the country in which the investment is made; risk of loss on foreign exchange transactions and investment valuation due to fluctuating exchange rates; risk of foreign tax being applicable; potential limitations on availability of market information which could affect the valuation and liquidity of an investment. All of these risks could affect the valuation of an investment in the fund.

 

For all disclosures please go to www.mi-plan.co.za

If you would like to print this advert, please click here.

MI-PLAN IP INFLATION PLUS 7

A medium-equity fund ideal for high-risk retired/discretionary investors requiring a growing capital growth on their investment

Who is the fund aimed at?

The Mi-Plan IP Inflation Plus 7 fund is regulation 28 compliant fund and is aimed at retirees/discretionary investors who are ideally looking for a multi-asset strategy with diversified exposure to both, local and foreign asset classes with the following risk profiles and time horizons in mind:

FUND RISK PROFILE MINIMUM TIME HORIZON
Mi-Plan IP Inflation Plus 7 Aggressive >5 years

What are the investment objectives of the fund?

Mi-Plan IP Inflation Plus 6-7: To achieve returns of at least 7% annualised in excess of inflation (CPI) over rolling 3 year periods whilst simultaneously controlling the risk of underperforming CPI over any rolling 12 month period.

What does the fund invest in?

The fund invests in a mix of domestic and foreign asset classes, namely equities, fixed interest and cash. The fund complies with Regulation 28 limits and ASISA limits and are subject to a maximum of 75% equity, 25% listed property, 40% offshore assets and 10% in hedge funds as prescribed by the South African Reserve Bank.

What investment philosophy does Mi-Plan follow?

The fund follows a philosophy that alpha is generated from being able to assess the degree to which the rate of change in earnings growth differs from current consensus earnings estimates and is progressively discounted into each company’s share price. To assess this, the manager uses seven key inputs, namely: industry, X Factor, Brand, 4P’s (product, position, price, people), distribution, economic leverage and free cash flow impact on RoIC (return on invested capital). In reviewing each of these factors for each company, an understanding is arrived at that provides both a qualitative and quantitative assessment of how earnings growth rates may evolve. This approach, combined with some inference as to the market’s assessment of earnings growth prospects, completes the picture. Portfolio construction and drawdown risk management play a key role in the ultimate portfolio composition. Asset allocation and stock selection vary according to the manager’s macroeconomic view and the attractiveness of each asset class.

Who is the fund manager?

Tony Bell – Having started out as an accountant, Tony moved to Southern Life Asset Management and soon became assistant General Manager of Investments. His move to Syfrets Managed Assets created the opportunity for Tony to become Chief Investment Officer at Nedcor Investment Bank. As CIO of PeregrineQuant and more recently Vunani Fund Managers Tony brings a wealth of experience especially in running the overall asset allocation of the fund. His MBA thesis “Portfolio Management – an Alternative Approach” which was awarded with distinction reflects Tony’s interest in understanding how the macro environment affects markets and asset class returns.

Who is Mi-Plan?

Mi-Plan exists to create and preserve wealth through the application of critical thinking. Established in 2006, we assist our clients to manage their money to achieve their desired outcomes through understanding their future income objectives and then creating and managing the wealth required to meet those plans.

For more information about Mi-Plan visit: www.mi-plan.co.za

What are the fees?

The annual management fee for the fund is 0.75% (excl. VAT).

For more details regarding the fees of this fund, please view the factsheet.

How can I access the fund?

The Mi-Plan IP Inflation Plus 7 fund is available on the ABSA Investment Management Services, Allan Gray, Glacier, Investec, Momentum, Old Mutual, PPS, PSG and Stanlib platforms.

Furthermore, to invest directly, click here.

The fund has a minimum investment requirement of a R10 000 lump sum or a minimum monthly payment of R500.

Where can I get a factsheet or a minimum disclosure document?

The factsheet can be obtained from the Mi-Plan website.

How good is the performance?

 

1 Year 

Annualised Return

2 Year Annualised Return

3 Year Annualised Return

4 Year Annualised Return

5 Year Annualised Return

%

Rank

%

Rank

%

Rank

%

Rank

%

Rank

Mi-Plan IP Inflation Plus 7 B5

6.43

66 / 92

4.07

12 / 84

6.47

15 / 77

4.03

40 / 68

6.24

14 / 59

South African Multi Asset Medium Equity sector average

7.61

 

2.62

 

5.34

 

4.03

 

5.24

 

Source: Financial Express 31 October 2019

* Returns are annualised if period is longer than 12 months.

Annualised returns is the weighted average compound growth rate over the performance period measured.

Fund returns shown are based on NAV-NAV unit pricings calculated from INET for a lump-sum investment with income distribution reinvested (after fees and cost).

For updated figures, please review the fund factsheet.

How do I contact Mi-Plan about the fund?

You can call us on 021 657 5960 or email info@miplan.co.za

 

Collective Investment Schemes are generally medium to long term investments. The value of participatory interests or the investment may go down as well as up. Past performance is not necessarily a guide to future performance. Collective investment schemes 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 the manager. Fund invest in portfolios of other Collective Investment Schemes that levy their own charges, which could result in a higher fee structure for the fund. The Manager does not provide any guarantee either with respect to the capital or the return of a portfolio. The Manager retains full legal responsibility for the Fund, regardless of Co-Naming arrangements. Transaction cut-off time is 14:30 daily. Each portfolio may be closed for new investments. Valuation time is 15:00 (17h00 at quarter end). Prices are published daily and available newspapers countrywide, as well as on request from the Manager. IP Management Company (RF) Pty Ltd is the authorised Manager of the Scheme – contact 021 673 1340 or clientservices@ipmc.co.za. Standard Bank is the trustee / custodian – contact compliance-IP@standardbank.co.za. Additional information including application forms, the annual report of the Manager and detailed holdings of the portfolio as at the last quarter end are available, free of charge, from clientservices@ipmc.co.za. IP Management Company is a member of ASISA. A statement of changes in the composition of the portfolio during the reporting period is available on request. The portfolio may include foreign investments and the following additional risks may apply: liquidity constraints when selling foreign investments and risk of non-settlement of trades; macroeconomic and political risks associated with the country in which the investment is made; risk of loss on foreign exchange transactions and investment valuation due to fluctuating exchange rates; risk of foreign tax being applicable; potential limitations on availability of market information which could affect the valuation and liquidity of an investment. All of these risks could affect the valuation of an investment in the fund.

For all disclosures please go to www.mi-plan.co.za.

If you would like to print this advert, please click here.

MI-PLAN IP ENHANCED INCOME

A conservative-risk fund ideal for investors seeking to earn a reasonable level of income with low risk of capital loss

Who is the fund aimed at?

The Mi-Plan Enhanced Income fund is suited for investors who are:

  • Aiming for higher returns than are available through cash or bank deposits over a 12-36 month period.
  • Seeking actively managed exposure to the full spectrum of the fixed interest and high yielding universe of assets.
  • Not wanting to personally choose between money market, bond, income, or preference dividend funds but rather believing in the ability of a good asset manager to do this job.

The fund does not suit investors whose time horizon is less than 12 months and who are uncomfortable with price fluctuations over this shorter term.

What are the investment objectives of the fund?

The objective of the portfolio is to provide a return in excess of Money Market portfolios, for investors seeking to earn a reasonable level of income with low risk of capital loss.

What does the fund invest in?

Categorised within the ASISA South African Multi-Asset Income sector, the Mi-Plan Enhanced Income fund enjoys a flexible mandate where the manager will scour opportunities to invest within a range of interest bearing and yield instruments, including vanilla bonds, inflation-linked bonds, fixed deposits, money market instruments, property shares (up to 25%), preference shares and other high yield stocks (up to 10%). The funds objective is to provide a return in excess of Money Market, for investors seeking to earn a reasonable level of income with low risk of capital loss.

How does the manager select its instruments?

The funds bond style bias is yield enhancing with occasional forays into duration positioning. Most bond managers devote too much of their research time trying to predict the direction of interest rates. Given the potential rewards from correct duration bets, this is perhaps an understandable practice; however it is more than offset by the difficulties of getting it right reliably. Seemingly less ambitious strategies actually have higher information ratios.The managers preferred disposition is to neutralize duration and bucket duration, while maximizing, through quadratic techniques, a combination of yield and convexity. That said, the manager will adopt the required mental fortitude to take contrarian duration bets when valuation has become demonstrably skewed, usually as a result of widespread utopian or dystopian forecasts. Inferred bond risk premia reliably show when these circumstances exist.

Who are the fund managers?

Rowan Williams-Short, has more than 27 years of experience in investments while being the fund manager of the Mi-Plan IP Enhanced Income fund since its inception on 26 March 2012. Rowan currently heads Fixed Interest at Vunani Fund Managers where previously he was CIO at each of Prudential Portfolio Managers (South Africa), African Harvest Fund Managers and Nedgroup Investments (United Kingdom).

Rowan has an MSc in Mathematical Statistics from the University of British Columbia and holds the CFA charter. He is a Fellow and a Governor of the South African Institute of Financial Markets. In America, he is an active volunteer for the CFA exam program.

How is the fund currently invested across asset classes?

The fund is currently conservatively positioned, with about 49% in a range of floating rate bonds, 31% in fixed-rate bonds, 12% in money market instruments and approximately 7% in high yielding equity and preference shares. Within the bonds, more than 71% have AA+ ratings or better. The fund is well diversified, holding 70 different instruments across 30 issuers, with the single biggest exposure is to RSA, at 20.7% as at 31 October 2019. For a full breakdown of Asset Allocation and Credit Rating allocation see table below:

Asset Allocation*

 

Ratings Spread*

Cash

1%

 

AAA

23%

NCDs

11%

 

A- To AA+

48%

FRN’s

49%

 

Below A-

5%

Bonds

31%

 

Cash, NCDs

13%

ILBs

1%

 

Equities, prefs, n/r

11%

Preference Shares

3%

 

*Data as at 31 October 2019, Vunani Fund Managers

Equities

4%

 

 

 

*Data as at 31 October 2019, Vunani Fund Managers

 

How has the fund been allocated across asset classes through time?

The Mi-Plan IP Enhanced Income fund has been actively managed since inception across a range of interest bearing and yield instruments asset classes, as seen below:


*Data as at 31 October 2019, Vunani Fund Managers

What is the current yield to maturity of the fund?

The current positioning is providing the fund with a gross yield of 9.61% as at 31 October 2019, which is attractive compared with cash and other asset classes.

What is the current modified duration of the fund?

The Mi-Plan IP Enhanced Income fund has a low modified duration of 1.03 (as at 31 October 2019).

Who is Mi-Plan?

Mi-Plan exists to create and preserve wealth through the application of critical thinking. Established in 2006, we assist our clients to manage their money to achieve their desired outcomes through understanding their future income objectives and then creating and managing the wealth required to meet those plans.

What are the fees?

The annual management fee for the fund is 0.75% (excl. VAT).

For more details regarding the fees of this fund, please view the factsheet.

How can I access the fund?

The Mi-Plan IP Enhanced Income Fund is available on the ABSA Investment Management Services, Allan Gray, Glacier, Investec, Momentum, Old Mutual, PPS, PSG and, Stanlib platforms.

Furthermore, to invest directly, click here.

The Mi-Plan IP Enhanced Income Fund has a minimum investment requirement of a R10 000 lump sum or a minimum monthly payment of R500.

Where can I get a factsheet or a minimum disclosure document?

The factsheet can be obtained from the Mi-Plan website.

How good is the performance?

 

1 Year 

Annualised Return

2 Year Annualised Return

3 Year Annualised Return

4 Year Annualised Return

5 Year Annualised Return

%

Rank

%

Rank

%

Rank

%

Rank

%

Rank

MI-PLAN IP Enhanced Income A1

11.88

8 / 85

10.68

4 / 77

10.42

4 / 71

10.05

7 / 66

9.53

6 / 58

South African Multi Asset Income sector average

8.69

 

7.73

 

7.57

 

7.58

 

7.47

 

Source: Financial Express 31 October 2019

* Returns are annualised if period is longer than 12 months.

Annualised returns is the weighted average compound growth rate over the performance period measured.

Fund returns shown are based on NAV-NAV unit pricings calculated from INET for a lump-sum investment with income distribution reinvested (after fees and cost).

For updated figures, please review the fund factsheet.

How do I contact Mi-Plan about the fund?

You can call us on 021 657 5960 or email info@miplan.co.za

 

Collective Investment Schemes are generally medium to long term investments. The value of participatory interests or the investment may go down as well as up. Past performance is not necessarily a guide to future performance. Collective investment schemes 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 the manager. Fund invest in portfolios of other Collective Investment Schemes that levy their own charges, which could result in a higher fee structure for the fund. The Manager does not provide any guarantee either with respect to the capital or the return of a portfolio. The Manager retains full legal responsibility for the Fund, regardless of Co-Naming arrangements. Transaction cut-off time is 14:30 daily. Each portfolio may be closed for new investments. Valuation time is 15:00 (17h00 at quarter end). Prices are published daily and available newspapers countrywide, as well as on request from the Manager. IP Management Company (RF) Pty Ltd is the authorised Manager of the Scheme – contact 021 673 1340 or clientservices@ipmc.co.za. Standard Bank is the trustee / custodian – contact compliance-IP@standardbank.co.za. Additional information including application forms, the annual report of the Manager and detailed holdings of the portfolio as at the last quarter end are available, free of charge, from clientservices@ipmc.co.za. IP Management Company is a member of ASISA. A statement of changes in the composition of the portfolio during the reporting period is available on request. The portfolio may include foreign investments and the following additional risks may apply: liquidity constraints when selling foreign investments and risk of non-settlement of trades; macroeconomic and political risks associated with the country in which the investment is made; risk of loss on foreign exchange transactions and investment valuation due to fluctuating exchange rates; risk of foreign tax being applicable; potential limitations on availability of market information which could affect the valuation and liquidity of an investment. All of these risks could affect the valuation of an investment in the fund. 

 

For all disclosures please go to www.mi-plan.co.za

If you would like to print this advert, click here.