AMI SeriesInvesting

Quarterly Investor Report 2020-Q4

AMI Big50 ex-SA ETF

The Big50 had a relatively flat year, as it weathered the wave of elections that dominated headlines for 2019. Our Oil and Gas constituents namely SEPLAT and ALEXANDRIA MINERAL OILS have seen a recent surge as commodities continue to rise on tensions in the middle East. With AFTCA having been signed by all 54 nations and the United Kingdom Leaving the EU, Africa has a good standing to participate more meaningfully on the World stage, in terms of trade and industry.  We have seen Ghana and Ivory coast the two largest Cocoa famers in the world, forming a cartel to control the prices of the commodity enjoyed world-over. One constituent with a combined weighting of 1.73% have been replaced with constituents with a combined weighting of 0.92%.

The portfolio re-balanced in the month of December 2019.

New additions: Cleopatra Hospital (0.92%).

Removals: Egyptian Intl.Pharms. (Epico) (1.73%).

Fund factsheet: https://cloudatlasinvesting.com/ami-big50-ex-sa-etf/big-50-ex-sa-etf-factsheet/

Risk rating: Medium | Closing price: R 11.97 | Closing NAV R 10.12 Number of units: 1,922,842 | Total Expense Ratio as targeted: 0.85% |

Distribution: ZAR cents 0.00

 

AMI Real Estate ex-SA ETF

The Africa property market has contracted as 2019 comes to an end, although property is usually regarded as a safe haven during economic uncertainty as risk – aversion from low yielding assets was experienced in 2019 leading to a decline in the performance of the portfolio. During December AMIRE peaked at R34.49c settling the year at R30.19c. Major weights in terms of constituents are GRIT REAL ESTATE INCOME GROUP LIMITED (Mauritius) and TALAAT MOUSTAFA GROUP (Egypt) collectively making up over 35% of the portfolio. With the fund size being what it is the manager is seeking to close or make dormant the portfolio.

The portfolio re-balanced in the month of December 2019.

New additions: N/A

Removals: New Africa Properties (12.99%)

Fund factsheet: https://cloudatlasinvesting.com/ami-real-estate-ex-sa-etf-factsheet/

Risk rating: Low | Closing price: R 29.54 | Closing NAV R 38.01 Number of units: 28,960 | Total Expense Ratio as targeted: 0.85% | Distribution: ZAR cents 0.00