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0.21  /  0.12%


NAV on 2021/09/23
NAV on 2021/09/22 169.13
52 week high on 2021/08/30 170.62
52 week low on 2020/11/02 127.88
Total Expense Ratio on 2021/06/30 1.2
Total Expense Ratio (performance fee) on 2021/06/30 0
Incl Dividends
1 month change 0.16% 0.16%
3 month change 0.89% 0.89%
6 month change 3.57% 6.13%
1 year change 27.55% 30.7%
5 year change 6.89% 10.63%
10 year change 0% 0%
Price data is updated once a day.
Click and drag to zoom in on timeline.
  • Sectoral allocations
Additional 8.93 0.88%
Basic Materials 163.61 16.12%
Consumer Goods 5.96 0.59%
Consumer Services 83.74 8.25%
Financials 177.78 17.51%
General Equity 65.61 6.46%
Health Care 25.90 2.55%
Industrials 90.64 8.93%
Liquid Assets 143.16 14.10%
Offshore 249.73 24.60%
  • Top five holdings
FINANCIALS 177.78 17.51%
BASICMATERIAL 163.61 16.12%
INDUSTRIALS 90.64 8.93%
CONSUMERSRVS 83.74 8.25%
  • 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



  • 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 - Dec 19

2020/02/24 00:00:00
2019 was a quiet year for the Aylett Funds, with the Aylett Balanced Prescient Fund underperforming its benchmark over the year by approximately 5%. 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 around 2.5% 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 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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