Investors may have voted the Satrix Top 40 as their favourite exchange traded fund (ETF), but the passively managed fund in which they have invested the most is Nedgroup Investments' multi-asset Core Diversified Fund. The unit trust fund recorded 44% growth last year and now has R10.8bn under management. This makes it the largest passively managed fund according to Nedgroup, which compiled a list of the top 10 largest funds for its annual Core Chartbook publication.The Core Diversified Fund, which is a month short of having a 10-year performance history, has delivered returns of 10.6% a year for investors since inception, according to Nedgroup. This, it says, is in line with its target of inflation plus 5% and with returns delivered by the most popular actively managed balanced funds - the Allan Gray Balanced Fund (10.1% a year from September 1 2009 to July 31 2019 according to Morningstar), the Coronation Balanced Fund (10.6%), the Foord Balanced Fund (10%), the Investec ...

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