How to read the tables

You will find your fund listed alphabetically in its category by looking in the Fund Name column. Note that there are two pages for Money Market Funds. The one listed with the other sectors under Latest Retail Prices is consistent with the data for all other sectors and shows Hist Yield. The other, under the separate menu item Money Market Fund Yields, shows the effective annual yields (EAYs) for each fund instead of historic yields. EAYs are calculated by each fund over 7 days to give a indication of current yields.

The Net Asset Value (NAV) Price is calculated by taking the total market value of all assets in the unit portfolio including any income (interest or dividends) that has accrued and has not yet been distributed to unitholders and less all expenses payable from the fund such as the annual management fee. This amount is divided by the number of units in issue to obtain the price.

The Date column gives the date of the price shown which was the latest price available from the fund manager at the time of going to press.

The Initial Costs column shows the maximum amount (including VAT) expressed as a percentage of your investment you could pay in upfront charges.

The Hist Yield (Historic Yield) column shows any distributions (income earned by the assets in the fund) announced in the past 12 months as a percentage of the current price (NAV). An asterisk (*) means that an estimate has been used for a recent dividend because the actual dividend amount is not yet available. This also has a tiny effect on performance figures.

The Fund Size column shows the amount of money (in millions) invested in the fund. An asterisk (*) means the manager has not supplied data and the figure from the last quarter-end has been used.

The Total Expense Ratio or TER column shows the portion of your investment in a fund which has been used to pay the fund's operating costs over the past year, including annual management and performance fees; trading costs, such as taxes and brokerage costs; trustee and custody fees; audit fees and bank charges; liquidity costs; and in the case of funds of funds, the cost of investments in underlying funds.

The TER Date shows the date on which the TER was calculated.

In the case of funds that charge PERFORMANCE FEES, this fee for the past year is also shown separately as a percentage of the TER, as performance fees may vary significantly from one year to the next.

The PlexCrown ratings column shows at a glance how a fund has fared over time compared to the other funds in its category on a risk-adjusted return basis. The ratings incorporate not only returns and standard risk measures but also measures of downside risk and managerial skill. The PlexCrowns range from one to five with the top-performing funds being allocated the highest rating. A full description of the PlexCrown ratings is provided at www.plexcrown.co.za, or info@plexcrown.co.za or telephone 021 970 2400.

The performance figures of your unit trust are given for each of four periods (six months one year three years and five years). The first figure shows what R100 would be worth if you had invested it in that fund for that period - that is six months, one year and so on. This figure is worked out without taking the initial costs into consideration. The performance figures also assume you re-invested any income you made on the funds on the ex-div date. The second figure shows how the fund is ranked in terms of this performance in relation to other funds. So if it is ranked fourth and there are only four funds in the category it is the worst-performing fund in that category. The performance figures of some funds are not published despite the fact that the fund has been existence for more than six months. If a fund has been reclassified (for example moved from the Growth Funds to the General Equity category) its performance history is scrapped and started afresh in the new category.

The Volatility column shows you how risky the fund is - the higher the figure the higher the volatility or risk. ProfileData uses the standard deviation of monthly returns over a 36-month period - accepted internationally as the optimum period. This figure is annualised to give an indication of the level of fluctuation which can be expected (based on history) over a year in normal market conditions.

Disclaimer: Although all reasonable efforts have been made by ProfileData, PlexCrown Fund Ratings and Personal Finance to ensure the accuracy of the data supplied, no warranty is given regarding the accuracy and completeness of the information or its suitability for any purpose. Use of the data for any purpose whatsoever shall be entirely at your own risk. No claims for loss or damage arising from reliance on the information by any party whatsoever shall be entertained.

Information supplied by:
ProfileData & FinSwitch
Telephone: 011 728 5510
Email: unittrust@profile.co.za

 
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