On the other end of the scale, the below table shows the funds that have
experienced the largest net outflows over the last year:
Fund flows to 31 May 2015
Sector
Six month
net flows
One year
net flows
One
year
change
Allan Gray Orbis
Global Equity FF
-R1.2 billion
-R688
million
-5.01%
Old Mutual
Global Emerging
Markets Fund
-R241
million
-R169
million
-11.45%
Investec
Worldwide Equity
FF
-R332
million
-R123 million
-3.65%
SIM Global Best
Ideas FF
-R40 million
Sanlam Global
Equity Fund
-R100
million
Source: ProfileData
36
ISSUE 4 – JULY 2015
-R92 million
-R88 million
-13.83%
-8.70%
The Satrix product only launched in
October 2013, but it has very quickly
gained favour. The x-trackers
product has been available for
much longer and already has nearly
R3 billion under management,
making it the seventh biggest fund
in this category.
Another point of interest is that the
Foord Global Equity Feeder Fund
only launched in May last year. The
percentage growth is therefore
irrelevant, but it's noteworthy that
Foord's reputation has allowed
them to grow this fund so quickly.
The Allan Gray Orbis Global Equity
Feeder Fund stands out on this list.
The fund performed poorly in 2014,
but the weak flows are not purely
the result of investors showing their
dissatisfaction. The fund is currently
closed for new investments as Allan
Gray has breached its offshore limit,
so it is unable to accept anything
other than already scheduled
payments.
It is also worth noting that for the
first five months of 2015, the fund
has out-performed its benchmark
and is one of the top performers in
this category for the year-to-date.
While the outflows from the Allan
Gray Orbis Global Equity Feeder
Fund are significant in absolute
terms, they are also only 5% of its
assets. The fund therefore remains
the largest in this category by quite
some margin. ■