Page 249 - Profile's Unit Trusts & Collective Investments - March 2025

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 0.19%
Equity long/short 66.98%
INVESTMENT OBJECTIVE
Equity market neutral 0.00%
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 14.69%
4.5%, over a rolling three-year period. Multi-strategy 18.11%
Multi-Asset Income 0.02%
INVESTMENT POLICY
The portfolio will typically consist of a blend of South African PERFORMANCE
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 opportunities across asset classes,
investment strategies and sectors. The portfolio aims to
preserve capital by not producing a negative return over a
36-month period while maintaining a low correlation to the JSE
All Share Index and the All-Bond Index. Investments of the
portfolio must be allocated to a minimum of five underlying
funds and an allocation to an underlying fund may not exceed
30% of the NAV of the total portfolio. The investment manager
may make foreign investments. The portfolio does not use
leverage but the underlying portfolios may apply leverage.
RISK STATISTICS
DETAILS as at 31 Dec 2024 Alpha
All fees and charges include Vat -0.50%
Beta -0.04
Establishment of CIS portfolio 01/02/2016
Inception Date 01/12/2008 Sharpe ratio 0.57
Fee class inception date 01/02/2016 Standard deviation (%) 0.05%
Portfolio Class B3 Maximum drawdown -0.06%
Fund Size R 562 978 880.00 Sortino ratio 0.88 HEDGE
NAV cents per unit 17 227.00 Information ratio -0.10
Number of participatory interest 13 397.00 Tracking error
Benchmark CPI + 4.5% net of fees 0.05
Risk classification Aggressive Source of risk statistics eVestment as at 31/12/2024 FUNDS
Minimum lump sum R 1 000 000 Risk statistics period (12/2008 - 12/2024)
Minimum monthly investment R 100 000
Annual management fee 0.56% (excl. VAT)
Performance fee 0.21%*
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% 1.59% 1.61% 2.17% -0.36% 1.89% 0.94% 16.19%
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 2024)
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).

Profile’s Unit Trusts & Collective Investments — HEDGE FUNDS 247