The combination of rising inflation and low interest rates threatens to erode the real value of capital saved in a bank account.
Investors would be wise to consider alternatives, such as unit trusts that aim to offer varying levels of protection, interest income and even exposure to growth assets.
When you invest in a unit trust from Old Mutual, you are investing in a liquid investment and you have ready access to your funds as there is no contractual term. In addition, you can transact and manage your unit trust portfolio online, 24/7, by registering for our Secure Services.
We have several attractive, low-risk alternatives available that aim to deliver a better-than-cash return over time. In addition to generating a regular income, these funds also aim to deliver other benefits such as protection against market volatility or inflation, depending on the fund selected.
Fund
Old Mutual Money
Market Fund
Old Mutual Interest Plus
Fund
Benchmark
STeFI
STeFI
Old Mutual Income Fund
Old Mutual Enhanced
Income Fund
Old Mutual Real
Income Fund
80% STeFI
20% ALBI
110% STeFI Call
Deposit Index
CPI
Old Mutual Capital
Builder Fund
Standard Bank Call
Rate for amounts of
R1m
Old Mutual Symmetry
Enhanced Income Fund of Funds
STeFI
* Performance figures take annual charges into account.
Capital protection aim
Protect capital over the short term; no negative months
No capital losses over any monthly period
No negative quarters
Protect capital over rolling 6 months
Protect capital over rolling 12 months
Positive 3-month performance periods
No negative performance over
12 months
Performance vs benchmark over one year to
31 March 2015*
5.9% vs 6.1%
6.1% vs 6.1%
5.7% vs 7.4%
5.9% vs 5.9%
9.9% vs 3.2%
Performance vs benchmark over three years to
31 March 2015*
5.4% vs 5.6%
5.7% vs 5.6%
6.2% vs 6.3%
6.5% vs 5.5%
10.1% vs 5%
5.4% vs 4% 7.6% vs 3.6%
7.3% vs 6.1% 6.6% vs 5.6%

We have identified a selection of low-risk unit trusts that offer investors who are seeking an income, capital protection and high liquidity alternatives to their savings and cheque accounts.
Old Mutual Investment Group boutique: Futuregrowth Asset Management
Portfolio manager: Michael van Rensburg
For investors seeking price stability and maximum liquidity, this unit trust offers a combination of high interest income and capital protection through investing in money market instruments with a maturity of less than 12 months. The fund offers investors exposure to money market deposits with major banks and other fixed income instruments.
Aiming to preserve capital and offer a regular income, it diversifies across a wide range of money market securities from different institutions — providing easy access to investments usually only available to large institutional investors. Investors in this unit trust benefit from the preferential rates that are enjoyed by Old Mutual Investment Group’s fixed income specialist boutique, Futuregrowth Asset Management.
Old Mutual Investment Group boutique: Futuregrowth Asset Management
Portfolio manager: Michael van Rensburg
Compared to money market unit trusts, this fund aims to provide yield enhancement and fill the gap between money market and income funds at a marginally higher risk exposure.
The maximum average duration of the Old Mutual Interest Plus Fund is 365 days versus the 90-day term to maturity for money market and two-year duration for income funds.
This fund suits risk-averse investors with a short-term investment horizon who want yields in excess of money market investments, but also require high liquidity from their investment and cannot tolerate the higher risk associated with income funds.
The fund aims to deliver returns in excess of those offered by money market funds and similar levels of liquidity, without significantly increasing risk.
Old Mutual Investment Group boutique: Futuregrowth Asset Management
Portfolio manager: Wikus Furstenberg
The fund aims to offer a high level of income, together with relative capital stability. It aims to pay out a high regular income without putting the investor’s money at undue risk. It invests in local interest-bearing investments, including fixed and floating rate bonds and money market instruments, and its average duration will always be less than two years, which contributes to its relative capital stability.
It can be used as a secure parking bay in times of stock market instability as well as a means of phasing money into an equity
(share) fund over a period of time. The fund aims not to lose capital over any quarter.
Old Mutual Investment Group boutique: Futuregrowth Asset Management
Portfolio manager: Wikus Furstenberg
The fund aims to offer a relatively high, sustainable level of income and seeks opportunities for capital gains. Income is derived from a range of interest-bearing assets, including exposure to listed property shares, when appropriate. Income is paid in the form of quarterly distributions and can be supplemented with regular automatic withdrawals. Capital growth is generated by exposure to bonds and property shares.
The fund aims to protect capital over rolling 6 months.

We have identified a selection of low-risk unit trusts that offer investors who are seeking an income, capital protection and high liquidity alternatives to their savings and cheque accounts.
Old Mutual Investment Group boutique: MacroSolutions
Portfolio manager: John Orford
The fund aims to provide both a growing income and some level of capital appreciation. It actively seeks opportunities to protect the capital in the fund against inflation. This should result in the income being paid out on an ever-rising capital base.
The fund aims for inflation protection by investing across the full spectrum of fixed interest investments and through selective exposure to equities and listed property. The fund’s portfolio is limited to a combined exposure of 35% to listed property and equities, but can invest up to a maximum of 25% in either of these asset classes.
Old Mutual Investment Group boutique: Customised Solutions
Portfolio managers: John Gilchrist & Tassius Chigariro
The fund aims to achieve capital protection and stable, tax-efficient growth in excess of cash returns. The fund invests in a broad spectrum of asset classes, including cash, fixed income, listed property and equities. Although equities generally account for between 65% and 75% of the portfolio, derivatives are used to reduce this to an effective equity exposure of 0% to 40%. The fund invests primarily in the shares of large cap companies.
The balance of the portfolio is held in cash and money market instruments, but listed property and bonds will be included when the risk-return relationships on these asset classes are compelling.
Old Mutual Multi-Managers
Senior Investment Professional: Ameer Amod
This multi-managed domestic fixed interest fund suits investors seeking high levels of income, with a possibility of capital appreciation over the long term. It aims to produce returns superior to those of domestic income unit trust funds in the medium to long term.
In order to achieve this, the investment mandate allows investment managers to invest in the entire spectrum of interest-bearing securities and listed property. As a multi-manager fund it offers the added advantage of manager diversification and the associated reduced volatility.

Head: Fund Specialist
Cell: +27 82 821 9155
Email: fred.liebenberg@omwealth.co.za
JOHANNESBURG:
Fund Specialist
Cell: +27 84 045 0446
Email: thabo.nkalakatha@omwealth.co.za
Fund Specialist
Cell: +27 79 070 6006
Email: tumelo.matsose@omwealth.co.za
PRETORIA:
Fund Specialist
Cell: +27 83 300 0133
Email: dinesh.appavoo@omwealth.co.za
FREESTATE:
Fund Specialist
Cell: +27 83 408 0528
Email: brian.vermeulen@omwealth.co.za
CAPE TOWN:
Fund Specialist
Cell: +27 82 926 6955
Email: sean.dubuisson@omwealth.co.za
Fund Specialist
Cell: +27 82 414 3412
Email: paul.glendining@omwealth.co.za
Fund Specialist
Cell: +27 82 728 8732
Email: sue.brooks@omwealth.co.za
DURBAN:
Fund Specialist
Cell: +27 83 292 7860
Email: imtiaz.shaik@omwealth.co.za
Fund Specialist
Cell: +27 71 302 0731
Email: vivian.govender@omwealth.co.za
PORT ELIZABETH:
Fund Specialist
Cell: +27 74 762 8724
Email: brendan.capstick@omwealth.co.za

Old Mutual Unit Trusts provides both retail and corporate clients with access to a comprehensive range of unit trusts managed by Old Mutual Investment
Group’s investment professionals.
The boutiques offer investors a comprehensive range of investment solutions covering traditional and alternative asset classes and a variety of investment philosophies, including active asset allocation, value-style investing, absolute returns and private equity — to name but a few.
As an investment, unit trusts are a contemporary and transparent product, designed to meet the needs of individuals and businesses alike. They are cost and tax efficient, enabling investors to make use of annual interest and capital gains tax exemptions.
Diversification: Our range of investments offers access to the full spectrum of assets, from money market and income funds to asset allocation and specialist equity funds.
Institutional exposure: We have influence in the fixed interest space and offer access to quality instruments at competitive prices. We also have the power to negotiate, which gives us early access to assets. This benefit we pass on to our clients.
Old Mutual Investment Group offers the boutiques the support of a comprehensive range of world-class services, which are quite simply beyond the reach of smaller asset managers, such as:
IT systems and infrastructure;
Administration;
Compliance;
Marketing;
Research and analysis;
Trading; and
Distribution teams.
Liquidity: Unit trusts offer a high degree of liquidity, as there is no contractual term and they can be sold with almost immediate effect. In the case of the
Old Mutual Money Market Fund, if you bank with Standard Bank, you can access your cash the same day.
The boutique structure therefore offers clients the best of both worlds — access to specialist investment houses focused solely on performance, backed by a large, well-governed and managed investment firm.
Preferential fees: We offer rebates to corporate clients with
R10 million or more to invest. Please ask your financial adviser for details.
Reliability: Old Mutual Unit Trusts is one of the oldest and most trusted asset managers in South Africa.
Old Mutual Investment Group has a strong, dynamic transformation agenda to ensure the socio–economic advancement of previously disadvantaged individuals, in line with the requirements of the South African government’s
Black Economic Empowerment (BEE) policies.
Online portfolio management: You can register for Old Mutual Unit Trusts’
Secure Services where you can view and manage your investment portfolio and transact online.
The Old Mutual Investment Group is a multi-boutique investment business, with more than R571bn (31/12/2014) of South African–based assets under management. Our global reach via our UK-listed parent company,
Old Mutual plc, gives us access to international investment expertise and global best practice.
We offer a seamless investment process:
Complete the Old Mutual Unit Trusts Buying Form
Provide the required supporting documents that are relevant to your business. These are detailed in the form appended to the
Buying Form.
You may either hand these to your adviser, who will complete the process for you, or you may fax or email them to our service centre:
All forms are available on www.omut.co.za
Helpline 0860 234 234 Fax +27 21 509 7100
Internet www.omut.co.za
Source: Morningstar
Unit trusts are generally medium-to long-term investments. Past performance is no indication of future performance. Shorter term fluctuations can occur as your investment moves in line with the markets. Fluctuations or movements in exchange rates may cause the value of underlying international investments to go up or down. Unit trusts can engage in borrowing and scrip lending. The fund’s TER reflects the percentage of the average Net Asset Value of the portfolio that was incurred as charges, levies and fees related to the management of the portfolio. A higher TER does not necessarily imply a poor return, nor does a low TER imply a good return. The current TER cannot be regarded as an indication of future TERs. A schedule of fees, charges and maximum adviser fees is available from Old Mutual Unit Trust Managers Ltd (OMUT).
You may sell your investment at the ruling price of the day (calculated at 15h00 on a forward pricing basis and 17h00 at month-end for Old Mutual RAFI ® 40 Tracker Fund, Old Mutual Top 40 Fund and the
SYm|mETRY Equity Fund of Funds). The Old Mutual Money Market Fund unit price aims to be static but investment capital is not guaranteed. The total return is primarily made up of interest (declared daily at
13h00), but may also include any gain/loss on any particular instrument. In most cases this will merely have the effect of increasing or decreasing the daily yield, but in an extreme case it can have the effect of reducing the capital value of the Fund. Specialist equity funds may hold a greater risk as exposure limits to a single security may be higher. A feeder fund is a portfolio that, apart from assets in liquid form, consists solely of participatory interests in a single portfolio of a collective investment scheme. A fund of funds unit trust invests only in other collective investment schemes, which may levy their own charges.
Certain funds may be capped to be managed in accordance with their mandates. Different classes of units apply to these portfolios and are subject to different fees and charges. Full details of the awards are available from the Management Company.
The portfolio performance is calculated on a NAV-NAV basis and does 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. Past performance is not necessarily an indication of future performance.
Old Mutual South Africa is a member of the Association for Savings & Investment South Africa (ASISA).