THE GLOBAL EQUITY FUND PICTURE
Looking at the global equity general category specifically, the below table
shows the funds that have enjoyed the highest net inflows over the
last 12 months:
Fund flows to 31 May 2015
Sector
Six month
net flows
One year
net flows
One
year
change
Old Mutual
Global Equity
Fund
R1.1 billion
R1.7 billion
36.32%
BCI Best Blend
Global Equity FoF
R1.1 billion
R1.0 billion
124.80%
Coronation
Global
Opportunities
Equity [ZAR] FF
-R190 million
R961 million
21.38%
Absa
International
Fund
R252 million
R291 million
122.88%
R261 million
12.14%
DB x-trackers
MSCI World Index
ETF
Satrix MSCI
World Equity
Index FF
-R36 million
R235 million
257.38%
Investec Global
Opportunity
Equity FoF
R228 million
R222 million
26.36%
Investec Global
Opportunity
Equity FoF
R40 million
R160 million
2.87%
Foord Global
Equity FF
R27 million
R123 million
1566.09%
Source: ProfileData
The Old Mutual Global Equity Fund
has been the stellar performer in
this category over the last five years
and it's therefore not surprising that
it is attracting the largest share of
new assets. It has now overtaken
the Nedgroup Investments offering
as the second largest fund in this
category, although it is still only
a little more than half the size of
the Allan Gray Orbis Global Equity
Feeder Fund.
The funds flowing into the BCI Best
Blend Global Equity FoF are less
easy to explain on a performance
basis, as it is delivered returns
both below the benchmark and
the category average. The inflows
have all been over the last two
months, which would indicate
that it is a large tranche from an
institutional client.
It is noteworthy
that two index
trackers make
this list...
…inflows are
almost entirely
from retail
investors.
The Coronation Global
Opportunities Equity [ZAR] Fund is
another top performer over the last
five years. It has grown its assets
to now just behind the Nedgroup
Investments Fund and may soon
move ahead of it as the third largest
fund in this category.
It is noteworthy that two index
trackers make this list. There is
hardly any institutional money in
either the DB x-trackers MSCI World
Index ETF or the Satrix MSCI World
Equity Index Feeder Fund, which
means that these inflows are almost
entirely from retail investors.
ISSUE 4 – JULY 2015
35