Page 244 - Profiles's Unit Trusts & Collective Investments - September 2024

Novare Mayibentsha Focused Qualified Fund of Hedge Funds - B3

Novare Mayibentsha Focused Qualified Fund of Hedge Funds - B3
Novare Mayibentsha Focused Qualified Fund of Hedge Funds - B3
INVESTMENT MANAGER STRATEGY ALLOCATION
Novare Investments (Pty) Limited Cash 0.13%
Equity long/short 56.55%
INVESTMENT OBJECTIVE
Equity market neutral 6.63%
The portfolio is a qualified investor hedge fund of funds. The
long-term return objective of the portfolio is to achieve CPI Fixed income arbitrage 20.41%
+ 4.5%, over a rolling three-year period. Multi-strategy 15.63%
Unit Trusts 0.64%
INVESTMENT POLICY
A collective investment scheme(“CIS”) can be described as PERFORMANCE
an investment vehicle that allows investors to pool their
money in to a portfolio, sharing in the risk and return of the
portfolio in proportion to their participatory interest in the
portfolio. The portfolio has a moderate to aggressive
risk/return profile. It is suitable for investors with a medium
to long-term investment horizon that seek moderate capital
growth with reasonable levels of income, whilst being mindful
of capital preservation. The portfolio will typically consist of a
blend of South African domiciled hedge funds with a focus on
actively traded strategies (predominantly equity long/short)
while maintaining low volatility in monthly returns. The
investment manager follows a multi-manager, multi-strategy
approach, with the aim of diversifying the assets of the
portfolio amongst strategies and investment styles. The
investment manager will aim to capitalise on investment op-
portunities across asset classes, investment strategies and
sectors. The portfolio aim stop reserve capital by not RISK STATISTICS
producing a negative return over a 36-month period while Alpha
maintaining a low correlation to the JSE All Share Index and -0.86%
the All Bond Index. The use of leverage in the portfolio will Beta 0.00
be limited by means of a Value at Risk (VaR) limit of 30% of Sharpe ratio 0.53
the Net Asset Value (NAV), measured at 99% confidence Standard deviation (%) 4.57%
FUNDS DETAILS as at 30 Jun 2024 Maximum drawdown -5.93%
level of a month period.
Sortino ratio
0.81
All fees and charges include Vat
Information ratio
-0.18
HEDGE Establishment of CIS portfolio 01/02/2016 Tracking error eVestment as at 30/06/2024
Inception Date
4.78%
01/12/2008
Fee class inception date
01/02/2016
Source of risk statistics
Portfolio Class
Risk statistics period
(12/2008 - 06/2024)
B3
Fund Size
NAV cents per unit R 543 258 010.38
16 114.75
Number of participatory interest 13 250.72
Benchmark CPI + 4.5% net of fees
Risk classification Aggressive
Minimum lump sum R 1 000 000
Minimum monthly investment R 100 000
Annual management fee 0.56% (excl. VAT)
Performance fee 0.00%*
Income declaration Bi-annual (June,
December)
Transaction cut-off time 14:00 every business day
Portfolio Valuation 17h00 last business day
of the month
Accounting period dates 01 July - 31 December
01 January - 30 June
PERFORMANCE FIGURES
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec YTD
2024 1.16% 1.02% 0.59% 0.78% 2.00% 1.75% 7.50%
2023 2.39% -0.22% -0.75% 0.54% -1.77% 1.48% 2.02% 1.18% 0.48% -0.64% 3.10% 1.40% 9.49%
2022 -0.14% -0.38 0.15% 1.61% 1.77% -1.22% 2.17% 0.17% -0.87% 1.14% 2.00% 0.50% 7.03%
2021 2.36% 1.98% 0.66% 1.51% 1.12% 0.77% -0.04% 0.45% 0.66% 0.09% -0.43% 2.87% 12.63%
2020 1.19% -1.76% -4.25% 6.18% 0.75% 2.42% 1.94% 0.70% -0.56% 0.53% 3.57% 2.44% 13.56%
2019 1.66% 0.90% 0.89% 0.96% 0.14% 0.61% -0.23% -0.41% -0.61% 0.76% 0.70% 1.08% 6.60%
Highest calendar annual performance since launch 16.19% (in 2009)
Lowest calendar annual performance since launch -2.88% (in 2016)
*The portfolio charges a performance fee of 13.16% of the amount by which it outperforms the hurdle rate (CPI + 4.5% net of fees).
242 Profile’s Unit Trusts & Collective Investments — HEDGE FUNDS