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0.4  /  0.29%


NAV on 2019/12/13
NAV on 2019/12/12 138.38
52 week high on 2019/03/19 139.38
52 week low on 2019/08/15 129.76
Total Expense Ratio on 2019/09/30 1.22
Total Expense Ratio (performance fee) on 2019/09/30 0
NAV Incl Dividends
1 month change 0.92% 0.92%
3 month change 3.21% 3.21%
6 month change 4.14% 4.14%
1 year change 3.86% 8.76%
5 year change 5.15% 8.74%
10 year change 0% 0%
Price data is updated once a day.
  • Sectoral allocations
Basic Materials 88.27 11.92%
Consumer Goods 11.68 1.58%
Consumer Services 44.51 6.01%
Derivatives 20.25 2.73%
Financials 159.05 21.48%
Fixed Interest 99.52 13.44%
Gilts 14.89 2.01%
Health Care 4.79 0.65%
Industrials 47.47 6.41%
Liquid Assets 10.04 1.36%
Money Market 44.23 5.97%
Other Sec 6.22 0.84%
Telecommunications 18.65 2.52%
Offshore 170.77 23.07%
  • Top five holdings
 REINET 78.59 10.62%
U-PRESCMM 57.29 7.74%
 RBPLAT 32.68 4.41%
U-INVMM 31.67 4.28%
  • Performance against peers
  • Fund data  
Management company:
Prescient Management Company Ltd. (PIM)
Formation date:
ISIN code:
Short name:
South African--Multi Asset--High Equity
60% SWIX, 20% ALBI, 15% MSCI, 5% SteFI
Contact details




  • 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 Balanced Prescient Fund Comment - Sep 19

2019/10/24 00:00:00
We should start the fact sheet by illustrating our concerns about the state of the markets by way of a story about a truck driver who stops every few miles to bang on the side of his rig with a sledgehammer. A cop asks him what he is doing. “This is a 40-ton truck” the driver says “but I am carrying 41 tons of canaries. Got to keep them flying” (Source: Grant’s Interest Rate Observer ).
This story does a good job of describing how we see the developed market Central Bank Governors and Treasuries dealing with the low growth of their respective economies. Thirty per cent of sovereign debt now trades at negative yields. It was not long ago that Greek bonds were trading at double-digit yields… they now trade at below 2 per cent.
In times of such uncertainty, one should tread carefully because we may wake up one day and discover the Governors have run out of either canaries or sledgehammers!
In this environment, we prefer to own South African assets, many of which trade at record lows. Over the last six months, we have continued to add small and mid-cap stocks to the portfolio. These are companies that dominate their markets, are hard to replace, have strong balance sheets and have management teams that have faced tough times before. While the growth outlook for South Africa looks uncertain, we continue to believe our challenges are not hard to fix. It may be too optimistic to hope for the required changes to be made quickly but we won’t wait for a Reserve Bank Governor or the government to assist us before we invest. If we apply a reasonable margin of safety into our thinking we may look back and see this as one of the most significant buying opportunities.
We acknowledge that there is a risk we may be too early…but at least we don’t lie awake at night hoping to hear the sound of the sledgehammer.
  • Fund focus and objective  
The Aylett Balanced Prescient Fund will aim to deliver a reasonable level of income and moderate capital growth over time for investors though investing in a broad range of asset classes in a balanced manner. The Manager will invest in a diversified range of equities, bonds, preference shares, money, property markets and listed and unlisted financial instruments as determined by the Registrar from time to time. Asset allocation will be managed actively and the Fund will seek to capture value opportunities by switching between asset classes and also focus on equity selection opportunities. The fund endeavors to deliver lower volatility over time. The portfolio will predominately invest in South African markets, but is however permitted to include investments in offshore jurisdictions subject to the investment conditions determined by legislation from time to time.The portfolio will be subject to the Prudential Investment Guidelines for South African Retirement Funds, being Regulation 28 of the Pension Funds Act, or such other legislation published from time to time.The portfolio may apart from assets in liquid form also include participatory interests or any other form of participation in portfolios of collective investment schemes or other similar schemes. Where the aforementioned schemes are operated in territories other than in South Africa, participatory interests or any other form of participation in these schemes will be included in the portfolio only where the regulatory environment is to the satisfaction of the manager and trustee and is of a sufficient standard to provide investor protection at least equivalent to that in South Africa.Nothing in the supplemental deed shall preclude the manager from varying the ratios of securities, to maximise capital growth and investment potential in changing economic environments or market conditions or to meet the requirements, if applicable, of any exchange formally recognised in terms of legislation and from retaining cash or placing cash on deposit in terms of the Deed and any Supplemental Deeds thereto; provided that the manager shall ensure that the aggregate value of the assets comprising the portfolio shall consist of securities of the aggregate value required from time to time by the Act. The Trustee shall ensure that the investment policy set out in this supplemental deed, the Deed and in all Supplemental Deeds thereto is carried out.For the purpose of this portfolio, the manager in consultation with the Investment Manager shall reserve the right to close the portfolio to new investors on a date determined by the manager. This will be done in order to be able to manage the portfolio in accordance with its mandate. The manager may, once a portfolio has been closed, open that portfolio again to new investors on a date determined by the manager.

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