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7.54  /  3.19%


NAV on 2021/02/25
NAV on 2021/02/24 228.77
52 week high on 2020/09/02 248.42
52 week low on 2020/03/17 178.04
Total Expense Ratio on 2020/09/30 1.82
Total Expense Ratio (performance fee) on 2020/09/30 0
Incl Dividends
1 month change -0.57% -0.57%
3 month change 5.94% 5.94%
6 month change -0.4% -0.4%
1 year change 17.54% 18.01%
5 year change 7.94% 8.21%
10 year change 10.06% 10.21%
Price data is updated once a day.
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  • Sectoral allocations
Derivatives 0.16 0.14%
Liquid Assets 0.06 0.06%
Technology 1.91 1.71%
Offshore 109.51 98.09%
  • Top five holdings
ISEMASIA 8.11 7.26%
XIAOMI 5.84 5.23%
ISTOXX600TL 5.03 4.51%
MICROSOFT 4.89 4.38%
ISMSCICHINA 4.85 4.35%
  • Performance against peers
  • Fund data  
Management company:
Boutique Collective Investments (RF) (Pty) Ltd.
Formation date:
ISIN code:
Short name:
Worldwide--Multi Asset--Flexible
70% MSCI World Equity index + 30% SteFI Call deposit



  • Fund management  
Consilium AM

  • Fund manager's comment

Consilium Worldwide Flexible comment - Jun 12

2012/08/28 00:00:00
The portfolio gained 0.7% month-on-month (i.e. June 2012) in USD terms. This compares to +2.1% and +1.8% gains for the global equity benchmark and the S&P500, respectively. In local currency terms (i.e. SA Rand) our portfolio generated a 2.94% loss for June 2012. This was due to Rand strengthening during the reporting period.
Prior to the month-end EU Summit, markets exhibited 'positive expectation' fatigue and traded flat An agreement reflecting Germany's willingness to show compromise was in itself a positive surprise leading to a month-end fillip to equity indicies in the developed world. Volatility remains elevated. Markets seem reluctant to put in new lows beyond that of levels seen in April in spite of policy uncertainty around Europe and we ask whether the investment world is now more willing to recognise the incremental risk reduction implied by viewing these small steps more holistically.
The holding in Xstata was disposed of entirely, whilst additions were made to the Sky Deutschland holding. New holdings introduced to the portfolio were Air Asia Bhd (Malaysia listing) and for the first time the fund made a small purchase of a US (Regional) Bank, SunTrust Banks Inc. June was a rather quiet month for corporate activity albeit that the VirnetX Markman (patent) ruling saw the stock advance by +20% whilst Zooplus AG (German listing) fell 20% following a block share disposal in response to what we believe was a kneejerk reaction to a shift in the company's marketing strategy.
  • Fund focus and objective  
The Consilium BCI Worldwide Flexible Fund is a worldwide flexible portfolio that aims to provide investors with high long term total returns. The portfolio may invest in global and local equity securities, government -, corporate- and inflation linked bonds, debentures, non-equity securities, property shares, property related securities, preference shares, money market instruments and assets in liquid form. The portfolio may also invest in participatory interests and other forms of participation in portfolios of collective investment schemes or other similar schemes operated in territories with a regulatory environment which is to the satisfaction of the manager and trustee of a sufficient standard to provide investor protection at least equivalent to that in South Africa and which is consistent with the portfolio's primary objective.
The portfolio may from time to time invest in listed and unlisted financial instruments, in accordance with the provisions of the Act, and the Regulations thereto, as amended from time to time, in order to achieve the portfolio's investment objective. The manager may also include forward currency, interest rate and exchange rate swap transactions for efficient portfolio management purposes. The manager shall have the maximum flexibility to vary assets between the various markets, asset classes and countries to reflect the changing economic and market conditions.
The Trustee shall ensure that the investment policy set out in this Supplemental Deed is carried out. For the purpose of this portfolio, the 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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