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48.04  /  1.25%

3851.6

NAV on 2021/02/25
NAV on 2021/02/24 3803.56
52 week high on 2021/02/25 3851.6
52 week low on 2020/03/23 2375.11
Total Expense Ratio on 2020/12/31 1.17
Total Expense Ratio (performance fee) on 2020/12/31 0
NAV
Incl Dividends
1 month change 9.95% 9.95%
3 month change 15.14% 15.14%
6 month change 20.16% 20.16%
1 year change 9.87% 14.34%
5 year change 7.15% 10.36%
10 year change 8.15% 11.09%
Price data is updated once a day.
Click and drag to zoom in on timeline.
  • Sectoral allocations
Additional 7.47 0.31%
Basic Materials 662.91 27.85%
Consumer Goods 59.29 2.49%
Consumer Services 138.55 5.82%
Financials 618.47 25.99%
General Equity 49.72 2.09%
Health Care 88.25 3.71%
Industrials 141.42 5.94%
Liquid Assets 120.62 5.07%
Telecommunications 33.98 1.43%
Offshore 459.30 19.30%
  • Top five holdings
BASICMATERIAL 662.91 27.85%
FINANCIALS 618.47 25.99%
INDUSTRIALS 141.42 5.94%
CONSUMERSRVS 138.55 5.82%
HEALTHCARE 88.25 3.71%
  • Performance against peers
  • Fund data  
Management company:
Prescient Management Company Ltd. (PIM)
Formation date:
2006/07/03
ISIN code:
ZAE000081154
Short name:
U-AYEQUTY
Risk:
Unknown
Sector:
South African--Equity--General
Benchmark:
JSE All Share TRI
Email
info@prescient.co.za

Website
http://www.prescient.co.za

Telephone
+27-21-700-3600

  • Fund management  
Walter Aylett
Walter founded Aylett & Company in 2005. This followed a period at Coronation Fund Managers for whom he had worked for seven years - first as Head of Research and then as Portfolio Manager. He managed several of their key Pension Funds and the Optimum Growth Fund. Walter successfully managed this worldwide flexible fund from its inception. Prior to that Walter had been at Syfrets Managed Assets for four years where he had the privilege of jointly managing the highly rated Prime Select Fund with well respected Tim Allsop.
Aylett & Co


  • Fund manager's comment

Aylett Equity comment - Dec 19

2020/02/24 00:00:00
2019 was a quiet year for the Aylett Funds, with the Aylett Equity Prescient Fund underperforming its benchmark over the year by approximately 4%. We’re not surprised by this after the outperformance in 2018.
We did make a few stock-specific mistakes which took the shine off an otherwise acceptable year. We refer you to previous factsheets for a more detailed discussion of what we got wrong.
There were however some success stories; our large position in Reinet performed well during the last quarter by adding just over 2% to the fund’s performance as the market began to appreciate the rational capital allocation by Reinet management and to recognize the value of the underlying portfolio. Considerable research time has been applied to the Reinet investment, and it is pleasing to see the results.
We continue to allocate capital to South African exposed mid and small cap stocks. The market seems focused on the short-term prospects of these businesses, which reflect the weak and uncertain economy in South Africa, but we believe these assets are not easy to replicate, and their competitive positions are strong. Short-term results and share prices may be declining, but the long-term value remains intact.
Buying as share prices fall allows us to build positions at increasingly lower prices, but in the short-term, this hurts performance. While painful, this has been the pattern for many of our more successful past investments and is typical of our approach. It is not a contrarian strategy, but an investment philosophy based on being rational allocators of capital.
There is a lot of latent value in the fund and we are particularly excited about the prospects of our large positions, namely Reinet, Royal Bafokeng Platinum and Transaction Capital. As discussed above, the mid and small-cap stocks being added to the fund are good businesses being bought cheap.
We look forward to reporting back to clients over the next few years on the prospects of the portfolio.
  • Fund focus and objective  
The fund's objective is to provide long-term growth in both capital and income.
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