Flagship Private Asset Management, whose Worldwide Flexible Fund has been the top-rated fund in its category over the past three and five years, has opened its Domestic Flexible Fund to external business.
The fund, launched on September 1 2005 and with R295-million under management, is currently ranked second out of 51 funds in the domestic flexible category, with a 12-month return of 37,25%.
Previously for in-house investors, the fund is managed by Winston Floquet, chairperson and chief investment officer of Flagship since 2001. His 38-year experience in equity, bonds and futures includes spells as chief executive of Martin & Co and manager of the local equity and research businesses for Fleming Martin and JP Morgan.
He has managed the Flagship Worldwide Flexible Fund, winner of three consecutive Personal Finance Raging Bull awards and four S&P awards, since October 2001.
Floquet says 93% of the Flagship Domestic Flexible Fund is currently invested in equities of which 10% is in offshore holdings — a maximum of 15% is permitted offshore. The fund’s top-10 holdings at March 30 were Eland Platinum, Remgro, Sasol, Grindrod, Digicore, Aquarius Platinum, Net 1 UEPS Technologies, Reunert, Gold Fields and Raubex.
Simon Hudson, MD of Flagship, says the fund’s benchmark is the FTSE/JSE all-share index.
“The primary aim is to offer long-term capital growth with an acceptable level of risk to the more aggressive investor. The fund aims to maximise returns over the medium to long term and achieves this through flexible asset allocation strategies taking active decisions in accordance with current and projected economic and market conditions.
“Out-performance is targeted through aggressive asset allocation and focused stock selection based on in-house proprietary models and extensive internal and external research. The fund utilises limited derivative products when necessary.”
The Flagship Domestic Flexible Fund has a minimum investment level of R5 000. It attracts annual fees of 1,75% excluding value-added tax. There are no performance fees.