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Home / News / Mi-Plan IP Inflation Plus funds Changes

Mi-Plan IP Inflation Plus funds Changes

Following a successful ballot, the investment policy of certain Mi-Plan IP Inflation Plus funds have changed, effective 24 January 2024.

      1. The funds have been renamed.
        The funds have been renamed as shown in the table below.

        Previous name New name
        Mi-Plan IP Inflation Plus 3 Fund MiPlan IP Balanced Defensive Fund
        Mi-Plan IP Inflation Plus 5 Fund MiPlan IP Balanced Fund
        Mi-Plan IP Inflation Plus 7 Fund MiPlan IP Balanced Plus Fund
      2. The investment objectives of the funds have been amended.
        The investment objectives of the funds have been amended as shown in the table below.

        Fund Previous New
        Mi-Plan IP Inflation Plus 3 Fund The portfolio will follow a conservative investment approach with its primary objective being to obtain a return of at least CPIX Plus 3% per annum over a rolling three-year period. The Fund aims to achieve stable capital appreciation with low volatility.
        Mi-Plan IP Inflation Plus 5 Fund The portfolio will follow a moderate investment approach with its primary objective being to obtain a return of at least CPIX Plus 5% per annum over a rolling three-year period. The Fund aims to achieve moderate capital appreciation with reasonable volatility.
        Mi-Plan IP Inflation Plus 7 Fund The portfolio will follow an aggressive investment approach with its primary objective being to obtain a return of at least CPIX Plus 7% per annum over a rolling three-year period. The Fund aims to achieve aggressive capital appreciation with reasonable volatility.
      3. The benchmarks of the funds have changed.
        The benchmarks of the funds have changed as highlighted in the below table.

        Fund Previous New
        Mi-Plan IP Inflation Plus 3 Fund CPI + 3% South African – Multi Asset – Low Equity sector average
        Mi-Plan IP Inflation Plus 5 Fund CPI + 5% South African – Multi Asset – Medium Equity sector average
        Mi-Plan IP Inflation Plus 7 Fund CPI + 7% South African – Multi Asset – High Equity sector average