PORTFOLIOMETRIX BCI BOND FUND OF FUNDS (B1) MANAGED BY: PORTFOLIOMETRIX - AUTHORISED FSP 42383 MINIMUM DISCLOSURE DOCUMENT 31 DECEMBER 2019 INVESTMENT OBJECTIVE The Poroliometrix BCI Bond Fund of Funds offers the potenal for capital growth, together with a regular and high level of income. INVESTMENT UNIVERSE Investments to be included in the porolio may, apart from assets in liquid form, consists of parcipatory interests and other forms of parcipaon of local and global collecve investment schemes, or other similar schemes operated in territories with a regulatory environment which is to the sasfacon of the manager and trustee of a sufficient standard to provide investor protecon at least equivalent to that in South Africa and which is consistent with the porolio’s primary objecve, invesng in liquid form, debentures, bonds, fixed deposits, money market instruments and other interest-bearing securies. The underlying porolios may invest in short, intermediate and long-dated securies and the porolio’s underlying exposure will be predominately bond investments. PERFORMANCE (Net of Fees) -5% 0% 5% 10% 15% 20% 25% 30% % Cumulative Return 01-2018 08-2018 03-2019 12-2019 Date PorolioMetrix BCI Bond Fund of Funds (B1) Fund Benchmark Cumulave (%) 1 Year 3 Years 5 Years 10 Years Since Incepon Fund 9.62 - - - 25.00 Fund Benchmark 10.32 - - - 24.36 Annualised (%) Fund 9.62 - - - 9.29 Fund Benchmark 10.32 - - - 9.07 Incepon date: 27 Jun 2017 Annualised return is the weighted average compound growth rate over the period measured. Risk Stascs Fund 1 Year 3 Years Standard deviaon 3.00% - Maximum drawdown -0.38% - Highest and Lowest Calendar year performance since incepon High 9.62% Low 8.37% MONTHLY RETURNS JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC YTD 2019 2.6 -0.1 0.8 0.8 0.6 1.6 -0.4 1.0 0.6 -0.2 0.3 1.6 9.62 2018 1.7 3.3 1.8 -0.2 -1.5 -0.7 2.0 -1.8 0.7 -1.3 3.8 0.6 8.37 2017 - - - - - - 1.2 1.1 1.2 -1.1 -0.5 4.2 6.04 FUND INFORMATION Porolio Manager: Brandon Zietsman Launch date: 27 Jun 2017 Porolio Value: R 1 927 009 423 NAV Price (Fund Incepon): 103.27 cents NAV Price as at month end: 107.80 cents JSE Code: PMFB1 ISIN Number: ZAE000246039 ASISA Category: SA Interest Bearing Variable Term Fund Benchmark: JSE/ASSA All Bond index (ALBI) Minimum Investment Amount: None #Monthly Fixed Admin Fee: R15 excl. VAT on all direct investor accounts with balances of less than R100 000 Valuaon: Daily Valuaon me: 08:00 (T+1) Transacon me: 14:00 Regulaon 28: No Date of Income Declaraon: 28 February/31 August Date of Income Payment: 2nd working day of Mar/Sep Income Distribuon (cpu) 28 Feb 2018 4.29 31 Aug 2018 4.61 28 Feb 2019 4.51 31 Aug 2019 4.51 FEE STRUCTURE Annual Service Fee: (A) 0.55% - (B1) 0.09% (Incl. VAT) Inial Advisory Fee (Max): 0.00% (Incl. VAT) Annual Advice Fee: 0 - 1.15% (if applicable) Inial Fee: 0.00% (Incl. VAT) Performance Fee: None * Total Expense Rao (TER): Sep 19 : 0.54% (PY: 0.54%) Performance fees incl in TER: Sep 19 : 0.00% (PY: 0.00%) Porolio Transacon Cost: Sep 19 : 0.00% (PY: 0.00%) Total Investment Charge: Sep 19 : 0.54% (PY: 0.54%) All Values (Incl. VAT) RISK PROFILE Low Risk • This porolio has less than 10% equity exposure, if any, resulng in low risk, stable investment returns. • The porolio is not directly exposed to currency risk, but it is exposed to default and interest rate risks. • The porolio is suitable for shorter term investment horizons. PORTFOLIOMETRIX BCI BOND FUND OF FUNDS (B1) | 1 of 2 DATE OF ISSUE: 17 JANUARY 2020
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Relay Scheme Design Using Microprocessor Relays Scheme...Relay Scheme Design Using Microprocessor Relays A report to the System Protection Subcommittee of the Power System Relay Committee
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Relay Scheme Design Using Microprocessor
Relays
A report to theSystem Protection Subcommittee of the
Power System Relay Committee ofthe IEEE Power & Energy Society
Prepared by working group C16June 2014
Presented at PSRC Main Committee Meeting- January 2015
2Title
1/16/2015
Members of the working group
Raaluca Lascu – chair Tony Seegers – vice-chair
Brian Boysen Alla Deronja
Kevin Donahoe Robert Frye
Gene Henneberg Rich Hunt
Don Lukach Bruce Mackie
Cristian Paduraru Don Sevcik
Jim O’Brien Adi Mulawarman
Michael Stojak Michael Thompson
Rich Young Don Sevcik
Past members:
Ken Birt Ken Behrendt
Angela Higdon Vajira Pathirana
3Title
1/16/2015
This paper is intended to supplement to the existing 1999 relay trip circuit design paper to address the use microprocessor relays
� Modern relays are changing the way substations are engineered
� They enable many functions to be carried out through one piece of hardware
� This flexibility and compactness is sometimes the cause of increasing levels of complexity
4Title
1/16/2015
Typical Trip circuit using Electromechanical relays
Considerations When Using Microprocessor Relays
6Title
1/16/2015
Trip circuits� Typical breaker trip circuit using microprocessor relay
� Microprocessor relays can simplify trip circuit design
� Multiple isolated outputs on a single relay can be used to trip multiple breakers
9Title
1/16/2015
Integration, Separation, and Redundancy
� Combining functions into one relay can reduce size of equipment, reduce wiring, and lower cost
� However, it can lead to problems such as measurement or programming errors effecting multiple protection functions
� Thought must be given to creating redundant systems which can function despite total failure of a relay◦ Ex: Duplicate functions using relay from different manufacturer
10Title
1/16/2015
Direct Tripping
Microprocessor Relay
TC-1
52a
PR-101
T
( - )
( + )
Multiple protection
functions, auxiliary
timers, etc. included in
microprocessor relay
logic.
52a
52b
TC-1
01/T
PR
Breaker auxiliary form “a” contact
Breaker auxiliary form “b” contact
Trip Coil 1
Breaker control handle Trip
Protective relay trip contact
11Title
1/16/2015
Dual Relay Tripping
12Title
1/16/2015
Dual Trip Coils with One Relay
13Title
1/16/2015
Dual Trip Coils with Two Relays
14Title
1/16/2015
Dual Trip Coils with Breaker Re-trip
TC-1
52a
PR-1a
01
T
( - )
( + )
( + )
( - )
TC-2
52a
BFR
BFR retrips TC-1 on
breaker failure initiate.
PR-1b trips TC-2 on
backup trip
Microprocessor
Relay
52a
TC-1
TC-2
01/T
PR
PR-1b
BFR
Breaker auxiliary form “a” contact
Trip Coil 1
Trip Coil 2
Breaker control handle Trip
Protective relay trip contact
Protective relay backup trip contact
Breaker failure retrip contact
PR-1b
15Title
1/16/2015
Dual Trip Coils, Relay Cross-Tripping
Probably most common today
16Title
1/16/2015
Dual Breaker Scheme
TC
52a
01
T
( + )
TC
52a
PR-1a01
T
( - )
( + )
Microprocessor
Relay
PR-1b
Protection logic trips
both circuit breaker
coils simultaneously.
( - )
52a
TC
01/T
PR
Breaker auxiliary form “a” contact
Trip Coil
Breaker control handle Trip
Protective relay trip contact
17Title
1/16/2015
There are a few problems
18Title
1/16/2015
Circuit Contacts
� One leading cause of failure is burned and failed output contacts due to inductive DC current
� Must ensure circuit contact being used is properly rated for all possible signals
� Often can assess by calculating L/R rating:Load Inductance
Load Resistance + Cable Resistance to Load
� Relay manufacturers are developing ways to mitigate burnout
L/R rating =
19Title
1/16/2015
Circuit Contacts (cont.)
� Speed of relay contacts must be considered
� Typical closing time is 3 to 8 milliseconds
� Choosing incorrect contacts can lead to leakage or sneak currents
� Extend Seal-in time and/or add arc suppression
20Title
1/16/2015
PRO
� Low CT burden
21Title
1/16/2015
CONBattery Creep
� Upgrading stations typically leads to increased continuous DC system loads
� Once adequate DC supply systems may need to be revisited
22Title
1/16/2015
Sneak Currents
� Sneak currents are unintended design flaws that can result in serious consequences
� With increased complexity, sneak currents are more likely
� With Microprocessors, the sneak circuits have often moved inside
� Systematic testing and inspection is most common way to prevent
� Many sneak conditions are located through trial and error over time in the field
23Title
1/16/2015
Battery System Grounding
� Can use spare input contacts on relay to monitor grounding conditions of DC system
IN 3
13
0 V
dc
IN 4
24Title
1/16/2015
It’s Not All Badthere are a few new perks
25Title
1/16/2015
Trip Circuit Monitoring
� Typical breaker trip circuit using microprocessor relay