re·cm is a licensed financial services provider, fsp number 18834
TRANSCRIPT
RE·CM is a licensed Financial Services Provider, FSP number 18834
RE·CM is a licensed Financial Services Provider, FSP number 18834
RE·CM is a licensed Financial Services Provider, FSP number 18834
Piet Viljoen - 8 May 2012
RE:CM Investment Presentation
RE·CM is a licensed Financial Services Provider, FSP number 18834
Agenda
RE:CM Update
Investment Philosophy & Process
RE:CM Global Flexible Fund
RE:CM Fund Returns
Market Views
Our Competitive Advantages
RE·CM is a licensed Financial Services Provider, FSP number 18834
Apr-0
3
Aug-0
3
Dec-0
3
May
-04
Sep-0
4
Jan-
05
May
-05
Sep-0
5
Jan-
06
May
-06
Sep-0
6
Jan-
07
May
-07
Sep-0
7
Jan-
08
May
-08
Sep-0
8
Jan-
09
May
-09
Sep-0
9
Jan-
10
May
-10
Sep-1
0
Jan-
11
May
-11
Sep-1
1
Jan-
1210.00
15.00
20.00
25.00
30.00
35.00
RE:CM Global Flexible Fund
10.00
15.00
20.00
25.00
30.00
35.00
Apr 03 Apr 05 Nov 06 Dec 08 May 11
RE·CM is a licensed Financial Services Provider, FSP number 18834
RE:CM Global Flexible Fund: Portfolio Breakdown
31 March 2008 31 March 2010 31 March 2012
Equity 63.5% 67.8% 66.6%SA 52.7% 53.7% 25.5%Offshore 10.8% 14.1% 41.1%
Bonds 2.3% 5.2% 3.5%SA 1.9% 5.2% 3.5%Offshore 0.4% 0.0% 0.0%
Property 0.3% 0.0% 2.6%SA 0.3% 0.0% 2.6%Offshore 0.0% 0.0% 0.0%
Cash 30.3% 26.0% 26.0%SA 26.2% 19.7% 16.5%Offshore 4.1% 6.3% 9.5%
Other 3.6% 0.8% 1.1%Prefs 3.6% 0.8% 1.1%Commodity 0.0% 0.2% 0.2%
Global as % of Total 15.3% 20.4% 53.2%
Asset Allocation
RE·CM is a licensed Financial Services Provider, FSP number 18834
RE:CM Global Flexible Fund: Portfolio Breakdown
Top 10 Holdings
As at 31 March 2012
Top 10 Holdings
Business % of TotalSun International 5.1Microsoft 4.1Johnson & Johnson 3.8Carrefour 3.7Amplats 3.1BP 3.1Berkshire Hathaway 3.0Discovery 2.5Wellpoint 2.0Vividend Income Fund 1.8
Top 10 Holdings
Business % of TotalSun International 4.7Discovery 4.7Imperial 3.5Adcock Ingram 3.4Old Mutual 3.1Metropolitan 3.0Telkom SA 2.9Remgro 2.8Harmony Gold 2.7Brait SA 2.5
Top 10 Holdings
Business % of TotalDiscovery 4.1MET LTD 4.1Tiger Brands 4.0Omnia 3.1Pick n Pay 3.1Richemont Dr 3.0Standard Bank 2.9Harmony 2.8Afrox 2.7JD Group 2.5
As at 31 March 2010As at 31 March 2008
RE·CM is a licensed Financial Services Provider, FSP number 18834
RE:CM Fund Returns Net of Fees
Total 1 Year 3 Years 5 Years Since Inception DateRE:CM Global Flexible Fund 12.0% 14.3% 7.4% 15.7% 07/04/2003CPIX + 8% p.a. 14.1% 13.2% 14.9% 13.7%
As at 31 March 2012
RE:CM Flexible Equity Fund 7.1% 18.1% 5.9% 16.7% 02/03/2005FTSE/JSE All Share Index 7.5% 21.3% 7.2% 17.4%
RE:CM Global Fund (USD) 8.0% 20.5% 5.7% 6.2% 31/03/2006MSCI World (USD) 1.1% 20.9% -0.1% 2.4%
RE:CM Global Feeder Fund 20.9% 10.6% 4.2% 4.2% 01/03/2007MSCI World (ZAR) 14.8% 12.2% 0.9% 0.9%
RE:CM Australia Equity Fund 0.5% n/a n/a 4.1% 25/03/2010ASX 300 (AUD) -6.3% n/a n/a -1.4%
RE:CM Money Market Fund 5.6% n/a n/a 5.5% 01/10/2010STEFI Call Rate 5.3% n/a n/a 5.4%
Nedgroup Investments Managed Fund 8.4% 14.4% 7.1% 14.9% 01/06/2004*Ranking vs all SA Unit Trusts 395/653 222/575 195/455 120/274
*Fund Inception Date 1 November 1997
RE·CM is a licensed Financial Services Provider, FSP number 18834
Long-term Price-to-Book Multiple of the SA Market
8
RE·CM is a licensed Financial Services Provider, FSP number 18834
P/B Ratio – Emerging Markets vs Developed Markets
RE·CM is a licensed Financial Services Provider, FSP number 18834
South African Resource Sector Relative to the All Share Index, Since Inception of RE:CM
RE·CM is a licensed Financial Services Provider, FSP number 18834
Rand Valuation
Source: J.P. Morgan Chase and Co.
* Based on U.S. and South African Consumer Prices Copyright: BCA Research 2012
RE·CM is a licensed Financial Services Provider, FSP number 18834
Our Competitive Advantages
Patience
Size
Fees
RE·CM is a licensed Financial Services Provider, FSP number 18834
RE·CM is a licensed Financial Services Provider, FSP number 18834
Thank You
RE·CM is a licensed Financial Services Provider, FSP number 18834
Regarding Capital Management (Pty) LtdRegistration No. 2004/007733/07
(“RE·CM”)
Regarding Capital Management (“RE:CM”) is a licensed Category I and Category II Financial Services Provider in terms of section 8 of the Financial Advisory and Intermediary Services Act 37, 2002 (licence number 18834). Accordingly, RE:CM is authorised to provide advisory and/or render discretionary intermediary services.
There are risks associated with investments in financial products, including market, credit & currency risks. As performance of the financial markets fluctuates and is not guaranteed, the investor may not get back the full amount invested. Past performance is not necessarily an indication of future performance. All returns are rand returns, unless otherwise stated. All performance data is calculated by RE:CM unless otherwise stated.
Regarding Capital Management (Pty) LtdP O Box 45040Claremont, 7735South AfricaTel: (021) 657 3440www.recm.co.za