BASTION ABSOLUTE RETURN
FUND OF FUNDS Facts Sheet: 31 August 2012
Dual Fund Objectives:
1. To outperform inflation over any rolling three years
2. To preserve capital over any rolling 12 months.
Fund Manager:
Koos le Roux, B Com, CTA, MBA
Investment professional since 1980.
ASISA Classification:
Domestic Asset Allocation Targeted Absolute & Real Return Category
Fund statistics:
Starting date: 1 Oct 2007
Size: R17 million
Underlying Funds
ABSA
Absolute
Return 20%
Prudential
Inflation Plus
25%
Cadiz
Inflation Plus
11%
Money
Market 4%
Coronation
Balanced
Defensive
18%
Nedgroup
Stable 22%
Performances (Annualized)
1 year
2 years
Since start
Bastion (net of TER*)
14.3%
12.0%
7.7%
Money Market (STeFI)
5.7%
5.8%
8.1%
Inflation (CPI)
4.7%
5.0%
6.3%
Benchmark (STeFI + 3% pa)
8.7%
8.8%
11.1%
Administrative matters
Original buying price
100.0 cents
Benchmark:
Short Term Fixed Interest Index (“STeFI”) plus 3% per annum
Risk Rating: Low/Moderate
Asset Allocation
Foreign FI 7%
Equities 21%
Foreign
equities 11%
Property 7%
Cash 20%
Inflation LB
16%
Bonds 18%
Fees & Expenses
(No Performance Fee)
Annual Management Fee
Maximum (VAT
inclusive)
1.14%
FAIS Conflict of Interest Disclosure: The above fee may be earned thus:
Bastion (Investment Manager)
0.74%
Metropolitan (CIS Manager)
0.40%
Distributor (if any)
0.29%
*Total Expense Ratio (“TER”)
2.45%
Dates of income declaration
31 Dec & 30 June
Annual Management Fee
1.14%
Dates of income payment
7 January & 7 July
Underlying funds (net of rebates) & Other Costs
1.31%
Income payments
2011: 2.03c
Valuation time
08:30 (T + 1)
Transaction time
15:00
Minimum lump sum investment
R5 000
Minimum monthly investment
R500
Maximum (Metropolitan) Initial Fee*
0.00%
Maximum upfront commission*
3.42%
*Only for direct business with Metropolitan, otherwise LISP fees apply.
Bastion Wealth Management (Pty) Ltd
26 NassauCrescent, Stellenberg, Durbanville 7550.
Telephone: +27 21 919 3120; Fax: +27 86 510 9227; Cell: +27 83 455
5318 : [email protected]; Web: www.bastionwealth.co.za
Bastion is a licensed category 2 financial services provider (FSP 883)
*The TER is the total expenses related to the management of the fund and
the underlying funds expressed as a percentage of the average Net Asset
Value of the fund. It has been calculated using data from 1 July 2011 to 30
June 2012. A high TER does not imply poor return, neither does a low TER
imply a good return. The above-mentioned TER cannot be regarded as
indicative of future TER’s.
The Fund-of–Funds product carries an additional layer of costs because it
invests in other unit trusts. In return it offers significant benefits:
A high quality product with potentially attractive returns in that a
professional portfolio manager is able to invest in what he considers to be the
most appropriate funds of the top SA investment management houses .
 A dilution of risk by diversifying across a number of unit trusts with different
Managers, different investment styles, and different strategies.
 Flexibility: the manager can readily switch from poor to better performers.
Lower fees thanks to the Metropolitan connection.
Custodian: Standard Executors & Trustees: Tel (021) 401-2286. MET Collective Investments Limited Parc du Cap Mispel Road Bellville, PO Box 925 Bellville 7535 Tel (021) 940-5981 Fax (021) 940-5885 Call
Centre, Tel: 0860 100 279 Registration No 1991/03741/06. Collective Investment Schemes (CIS) in securities are generally medium to long term investments. The value of participatory interests may go down
as well as up and past performance is not necessarily a guide to the future. All CIS are traded at ruling prices and can engage in borrowing and scrip lending. A schedule of fees and charges and maximum
commissions is available on request. Commission may be paid and if so, would be included in the overall costs. A fund of fund portfolio is a portfolio that invests in portfolios of collective investment schemes,
which levy their own charges, which could result in a higher fee structure for these portfolios. Forward pricing is used. Fluctuations or movements in exchange rates may cause the value of underlying
international investments to go up or down. MET Collective Investments Ltd reserves the right to close and reopen certain portfolios from time to time in order to manage them more efficiently. The Fund may
borrow up to 10% of the market value of the portfolio to bridge insufficient liquidity. Different classes of participatory interests apply to certain portfolios, which are subject to different fees and charges.
Performance figures quoted are from Morningstar/MoneyMate, as at the date of this factsheet for a lump sum investment, using NAV-NAV prices with income distributions reinvested. MET Collective
Investments Ltd is the Manager of the MET Collective Investments Scheme, and a full member of the Association for Savings and Investment SA. Although reasonable steps have been taken to ensure the
validity and accuracy of the information in this document, MET Collective Investments Ltd does not accept any responsibility for any claim, damages, loss or expense, howsoever arising, out of or in connection
with the information in this document, whether by a client, investor or intermediary. This document should not be seen as an offer to purchase any specific product and is not to be construed as advice or
guidance in any form whatsoever. Investors are encouraged to obtain independent professional investment and taxation advice before investing with or in any of MET Collective Investments Ltd’s product.