Top 10 shares in Ninety One’s Equity Fund

Ninety One

The top 10 shareholdings in Ninety One’s Equity Fund include Naspers, FirstRand, ABSA, Impala Platinum, and British American Tobacco.

Ninety One describes this fund as an “equity-only fund for investors seeking capital growth over the long term”.

“The fund aims to provide a total return – the combination of income and capital growth – by investing in equities.”

An equity fund, also known as a mutual fund or a stock fund, invests mainly in stocks and can be actively or passively managed.

Ninety One allocates 76.7% to local assets and the other 23.3% to foreign assets. It largely invests in equities, with some property and cash/money market investments.

The fund also largely invests in the financial sector (24.3%), with basic materials (24.1%) and technology (14.7%) trailing close behind.

The Ninety One Equity Fund is actively managed by Chris Freund, Hannes van den Berg, and Rehana Khan.

The fund aims to outperform its benchmark, which is a combination of the FTSE/JSE Capped Shareholder Weighted All Share Index (87.5%) and the MSCI World Index (12.5%).

Since the fund’s inception, it has managed to outperform its benchmark, achieving a 14.5% annualised return compared to the benchmark’s 13.8%. 

Over the last five years, the fund has achieved an annualised return of 7.6%, compared to the benchmark’s 5.9%.

The total expense ratio associated with this fund is 1.75%, which includes a performance fee of 0.75% of the net asset value of the fund class. Combined with the 0.2% transaction cost, this fund’s total investment charge is 1.95%.

Top shares in Ninety One’s Equity Fund

The Ninety One Equity Fund’s latest fact sheet revealed the top 10 shareholdings on 31 December 2022. 

The top 10 shares account for 42.9% of the fund’s value.

CompanyPercentage of portfolio
Naspers Ltd8.8
FirstRand Ltd 5.9
ABSA Group Ltd4.7
Impala Platinum Holdings Ltd 3.9
British American Tobacco Plc3.6
Cie Financiere Richemont SA ADR/ GDR 3.5
Anglo American Plc 3.4
BHP Group Ltd3.1
Capitec Bank Holdings Ltd3.0
Glencore Plc3.0

*Note that the fact sheet used for this article was for the ‘A’ class units of the Ninety One Equity Fund.