Mandate Overview02 Mar 2020
The objective of the 1nvest SA Bond ETF is to track the S&P South Africa Sovereign Bond 1+ Year Index as closely as possible.
1NVEST SA Bond ETF- Dec 19 - Fund Manager Comment02 Mar 2020
The review of the S&P South Africa Sovereign Bond 1+ Year Index (SPFIZAA) in the last quarter saw no additions or deletions from the index. The fund performed in line with the Index. The R186 Government bond was the largest bond in the fund and its yield increased from 8.09% as at end of June to 8.29% as at end of September. The modified duration of the bond decreased from 5.28 as at end of June to 5.02 as at end of September. The yield of the fund increased from 8.94% to 9.12% over the quarter. The modified duration of the fund decreased from 7.26 to 7.20 over the quarter