Management Company Switched - Official Announcement08 Nov 2011
The fund switched Management Company from Metropolitan Collective Investments Ltd to Momentum Collective Investments Limited on 01 Nov 2011
Fund Name change - Official Announcement08 Nov 2011
The Metropolitan Income Plus Portfolio will change it's name to Momentum Opportunity Income Fund, effective from 01 November 2011
Metropolitan Income Plus comment - Mar 11 - Fund Manager Comment24 May 2011
The fund produced 2.38% for the first quarter of 2011, 0.96% ahead of the STEFl benchmark and 1.50% ahead of the average fund in the Fixed Income Varied Specialist Unit Trust category.
On a rolling 12-month basis, the fund has achieved 8.83% against a March published Headline Inflation rate of 3.7%, giving a real return of 5.13%
Metropolitan Income Plus comment - Dec 10 - Fund Manager Comment16 Feb 2011
The fund returned 1.31% (0.26% below the STEFI Composite benchmark) for the quarter ending December 2011. The fund finished the calendar year at 8.92%, ahead of the STEFI Composite benchmark by 1.98%. The December reading of CPI at 3.5% gives the fund a real return of 5.42% for the year. The fund continues to take opportunistic duration positions in domestic bonds as well as short-term positions in domestic and offshore credit. On the currency front, the fund continues to maintain a short ZAR bias in line with the view that the domestic currency is within its lower range and that significant strength below 6.70 will be short-lived. Equity volatility remains low and has indeed reached a new short-term low of 15.38% (VIX Index), constraining trading opportunities.