The investment objective of the Fund is to provide sustainable capital appreciation over the medium to long term. The portfolio will typically hold, subject to regulatory limits, between 16 and 25 equity securities. The portfolio shall have no exposure to other asset classes, and shall explicitly exclude fixed interest, listed property and foreign investments.

This fund is suitable for the sophisticated investor who understands the risks of being exposed to Equity.


A combination of fundamental analysis and technical analysis is used for sector weightings and share selection. The fundamental process encompasses a top down and bottom up analysis. The top down process evaluates global and domestic socio – macroeconomic issues. The bottom up process evaluates qualitative and quantitative company specific issues such as management, product diversity and a wide range of financial ratios. Technical analysis is used to determine short, medium and long term price trends with potential resistance and support levels. This research is used to assist with the timing of buying and selling of sectors and shares and is used to support the fundamental decision making process.





ASISA Category: SA Equity – General
Benchmark: FTSE / JSE SWIX 40 Index
Inception (A Class):
05 December 2012
Inception (B2 & c Class): 11 December 2012
Minimum lump sum investment (Class A & C): R10,000
Minimum lump sum investment (Class B2): R10 M
Minimum monthly investment (A & C Class): R1000
Minimum monthly investment (B2 Class): N/A
Max Initial Manager Fee (A, B2 & C Class): 0%
Max Initial Adviser Fee (A, B2 & C Class): 2.00% (excl. VAT)
Annual Service Charge (A & C Class):
0.75% p.a. (excl. VAT)
Annual Service Charge (Class B2):
1.00% p.a. (excl. VAT)
Maximum Annual Advisor Fee (Class C): 1.14% p.a. (Incl. VAT)
Dates of income declarations: 31 Mar
Date of income payment: 2nd day of the following month or next business day if the 2nd does not fall on a business day
Valuation time: 15h00 (QE: 17h00)
Transaction time: 14h30
Fund prices at: 15h00
Custodian: Standard Bank of South Africa


Fund Class Currency ISIN Bloomberg
Class A ZAR ZAE000173449 MITHCEA:SJ
Class B2 ZAR ZAE000173654 MITHCEB:SJ
Class C ZAR ZAE00020225 MITHCEC:SJ


Name: IP Management Company (Pty) Limited

Address: 1st Floor, Mariendahl House, Newlands on Main, Main Road, Newlands 7700

PO Box 23271, Claremont. 7735, Cape Town, South Africa

Telephone: +27 21 673 1340

Fax: +27 86 557 4848

IP Management Company (RF) Pty Limited Abridged Annual Report | 31 March 2020


Roeloff Horne

Director and Head of Portfolio Management (SA)

Roeloff is a Key Individual and the Head of SA Portfolio Management MitonOptimal. He is responsible for managing the outcome of the Local Multi-Asset Funds and Portfolios in conjunction with the investment management team. 

Member of the Association for Savings & Investment SA

The funds are owned by IP Management Company (Pty) Limited, an authorised Management Company registered according to the Collective Investment Schemes Act and regulated by the Financial Sector Conduct Authority. It is an ordinary member of the Association for Savings & Investments SA (ASISA). Should you have any further queries or complaints please contact: IP Management Company (Pty) Limited Call Centre, P O Box 23271, Claremont, 7735, Email: dealing@mitonoptimal.com. Collective Investments are generally medium to long-term investments. The value of participatory interests may go down as well as up and past performance is not necessarily a guide to the future. A fund of funds collective investments may invest in other collective investments, which levy their own charges, which could result in a higher fee structure for these portfolios. Collective Investment prices are calculated on a net asset value basis and auditor’s fees, bank charges and trustee fees are levied against the portfolio. Graphs and performance figures are sourced from Financial Express for lump sum investments including income distribution, at NAV to NAV basis and do not take any initial fees into account. Income is reinvested on the ex-dividend date. Actual investment performance will differ based on the initial fees applicable, the actual investment date and the date of reinvestment of income. The performance fee FAQ document is kept as a public document at IP Management Company (Pty) Limited. MitonOptimal South Africa (Pty) Limited is regulated by the Financial Service Conduct Authority, FSP 28160.

Great Westerford, Suite 202,
South Wing, 2nd Floor, 240 Main Road,
Rondebosch, 7700, South Africa

Go to MitonOptimal Group

MitonOptimal South Africa (Pty) Limited is an Authorised Financial Services Provider Licence No. 28160, regulated by the Financial Sector Conduct Authority (FSCA) - Registration No. 2005/032750/07.
MitonOptimal Portfolio Management (Pty) Limited is an Authorised Financial Services Provider Licence No. 734, regulated by the FSCA – Registration No. 2000/000717/07.