Old Mutual Absolute Smooth Growth Portfolio

01 November 2014

General Information

Status Open
Fund category: Life Fund, Bonus Funds
Management company: Old Mutual Life Fund
Asset Manager(s): Old Mutual Investment Group (SA)
Sector Insurance----Smoothed
Benchmark CPI
Launch Date 01 April 2008
Fund Value ZAR 1,000,000,000.00 as at 30 Jun 2014
Risk Rating
Low Risk  High Risk
Performance Target CPI plus 6% pa (gross of fees with the execption of a capital charge, over a rolling 3-year period)
Status is provided by the management company. This does not provide an indication of the availability of the fund within an Old Mutual product and may differ from the status of the fund within a product. The displayed risk rating may differ from the risk rating provided by the management company, where deemed appropriate.

Please note this fund is only available through Max Investments Retirement Annuity Wrapper only.

Fund Description

The Absolute Smooth Growth Portfolio is a life fund that uses enhanced smoothing technology to deliver stable, inflation-beating returns to its investors in the most efficient manner. Returns are awarded in the form of monthly bonuses, declared at the beginning of each month.

The investment returns earned on the underlying investment mandate are smoothed and passed on to investors by way of bonuses declared monthly in advance. Therefore, returns are known at the start of each month.

This smoothing mechanism significantly reduces the short-term volatility typically associated with market-related investments. A Bonus Smoothing Reserve (BSR) is maintained which absorbs the impact of the peaks and troughs experienced with investing in the market, while delivering real returns to investors in the medium to long term.

Perfromance Target
CPI + 6% p.a., gross of fees with the exception of a capital charge, over a rolling 3-year period.

The Absolute Smooth Growth Portfolio offers a 50% guarantee on capital, contributions and declared returns. These guarantees apply on benefit payment and other specified events, and are backed by Old Mutual's shareholders capital.

(Old Mutual reserves the right to remove the non-guaranteed element in poor markets, by declaring a negative bonus.)

Fees and Charges
Investment admin fee:
Refer Fee section

Capital Charge:

Disinvestments/Switches for Investment Frontiers and Galaxy product solutions
Withdrawals from the ASGP will only be allowed on two days during the year (the first business day of April and the first business day of October) subject to a notice period of one month (by 28/29 February and 31 August respectively)

Disinvestments/Switches for Max Investments and Max Income Product solutions
Withdrawals from the ASGP will be allowed at anytime. A Market Value Adjuster will apply if applicable.


Latest Buy Price: ZAR 269.57 29 Oct 2014
Latest Sell Price: ZAR 269.57 29 Oct 2014
Highest Sell Price: ZAR 269.57 29 Oct 2014

Prices are those of the tax-exempt fund class.

Price Performance

Daily Performance Figures as at 29 October 2014

1 Year 3 Years 5 Years
18.89% 16.22% 14.00%
Fund performance results are calculated on the sell-to-sell fund performance of the tax-exempt fund class, net of asset management fees and including reinvested income. Figures are calculated on a lump sum investment basis in the currency of the fund and are annualised.

Month-End Performance Figures

These details are not available for this fund.

Asset Management Fees

Buy / Sell Spread Fee: N/A
Annual Fee: 0.75%
Performance Fee: 0.6% - 1.05%
Total Expense Ratio: 2.46

Fees are those of the tax-exempt class and include VAT. Fees are those levied when investing in the fund through an Old Mutual product and do not include product administration charges and adviser fees.

Asset Split as at 31 December 2013

Holding Name Percentage
Foreign Alternative Investment Strategies
Foreign Bonds
Foreign Equities
Local Alternative Investment Strategies
Local Bonds
Local Equities
Local Property

Top Holdings as at 30 June 2008

Holding Name Sector Percentage
SASOL Oil & Gas Producers 8.00%
MTN GROUP Mobile Telecommunications 7.80%
ANGLO Mining 7.20%
BHPBILL Mining 6.30%
IMPLATS Mining 5.60%
STANBANK Banks 4.00%
RICHEMONTX Personal Goods 4.00%
AMPLATS Mining 3.80%
OLDMUTUAL Life Insurance 3.60%
REMGRO General Industrials 3.40%


Whilst every effort has been made to ensure the accuracy and completeness of the content shown on this site, the information provided is not intended to construe advice or a recommendation, guidance or proposal regarding any financial product and the use of this site and the online services is entirely at the user's own risk. Old Mutual Life Assurance Company (SA) Limited and/or any of their respective affiliates, Old Mutual Investment Services (Pty) Ltd and Profile Group (Pty) Ltd shall not be responsible for any loss, damage (whether direct, indirect, special or consequential) and/or expense or any nature whatsoever, which may be suffered as a result of, or which may be attributable to the use of or reliance upon any information, links or services.

Information is subject to copyright.

Copyright in all information supplied via this service is owned by Profile Group (Pty) Ltd and/or its subsidiaries, and is protected by both national and international intellectual property laws. Accordingly, any unauthorised copying, reproduction, retransmission, distribution, dissemination, sale, publication, broadcast or other circulation or exploitation of this material will constitute an infringement of that copyright. No part of the information supplied via this service may be reproduced or transmitted in any form or by any means, electronic or mechanical, without permission in writing from Profile Group (Pty) Ltd.