•  Megafin Sanlam Collective Investments Growth Fund of Funds (B1)

-29.85  /  -2.24%

1331.7

NAV on 2020/10/29
NAV on 2020/10/28 1361.55
52 week high on 2020/08/18 1444.12
52 week low on 2020/03/24 1062.6
Total Expense Ratio on 2020/06/30 1.75
Total Expense Ratio (performance fee) on 2020/06/30 0
NAV
Incl Dividends
1 month change -4.09% -4.09%
3 month change -3.91% -3.7%
6 month change 1.7% 2.63%
1 year change 3.71% 5.27%
5 year change 3.83% 4.95%
10 year change 0% 0%
Price data is updated once a day.
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  • Sectoral allocations
Bond Funds 20.35 12.13%
General Equity 70.28 41.89%
Liquid Assets 3.14 1.87%
Spec Equity 32.24 19.22%
Offshore 41.77 24.90%
  • Top five holdings
PCMGLBCORE 41.77 24.9%
U-ACPEQPR 20.70 12.34%
U-NEDBOND 20.35 12.13%
U-COSTOP5 19.64 11.7%
U-INVGLFA 19.03 11.34%
  • Performance against peers
  • Fund data  
Management company:
Boutique Collective Investments (RF) (Pty) Ltd.
Formation date:
2015/02/09
ISIN code:
ZAE000200978
Short name:
U-MEGRWTH
Risk:
Unknown
Sector:
Worldwide--Multi Asset--Flexible
Benchmark:
ASISA Worldwide Multi Asset Flexible category average
Email
clientservices@bcis.co.za

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

Telephone
021-007-1500

  • Fund management  
Methodical Investment Management


  • Fund manager's comment

Megafin Growth FoF comment - Jun 19

2019/09/04 00:00:00
Megafin SCI Growth Fund of Funds Portfolio Update
After a very strong start to the year, aggressive investors had mixed fortunes during the second quarter of 2019, largely due to rand strength against developed market currencies which detracted from the Portfolio performance.
The Megafin SCI Growth FoF’s returned 0.7% for the quarter and has generated a return of 3.8% over the past year.
After disappointing performance in May, global equity markets finished the quarter strongly, largely on the back of comments from the major central banks that they would be willing to provide support in the form of lower interest rates and easing trade tensions between the U.S. and China.
Asset Allocation
The Portfolio’s significant allocation to global equities delivered decent hard currency returns during the quarter, however, rand strength detracted meaningfully from the performance of these allocations. Within global equities, developed market equities outperformed emerging market equities, driven higher by U.S. equity markets which make up a significant portion of global equity indices. The other material allocation within the Portfolio, local equities, contributed meaningfully to performance in line with the supportive global environment. Within local equities, Financials contributed the most to performance, while Industrials and Resources also generated positive performance over the quarter. A small allocation to local listed property contributed positively to portfolio performance, despite the asset class facing headwinds in the South African environment.
Fund Selection
The contribution from fund selection was mixed over the quarter. Nedgroup Core Bond delivered strong performance in the second quarter of 2019. The fund's significant allocation to South African government bonds drove performance as bond yields fell across the globe in expectation of lower future interest rates.
CoreShares S&P SA Top 50 was one of the best performing funds over the quarter. This is a passive fund that invests in the largest 50 companies on the JSE, however, they cap their weight to one share to 10% of the fund. The fund’s exposure to resources, especially the gold miners, was a solid contributor to performance over the quarter.
PSG Equity underperformed the market and its peers over the second quarter of 2019. The fund had a few stock specific detractors: Glencore (-16%), Imperial (-14%) and Japan Post Insurance (-16%). Large-cap shares continued to outperform the small and mid-cap shares over the quarter.
No changes were made to the portfolio composition during the quarter.
Summary
While equity allocations can be volatile over short time periods, they are necessary in order to generate significant inflation-beating returns over the long term. With strong performance in the first quarter of 2019, the Portfolio has delivered decent rand returns year-to-date, which is encouraging.
  • Fund focus and objective  
The Methodical BCI Worldwide Growth Fund of Funds' has aggressive risk characteristics and investments are diversified across asset classes. The primary objective is to achieve higher than average long-term capital growth. Short term volatility of value will be reflective of the risk profile of the portfolio. Investments to be included in the portfolio will, apart from money market instruments and cash, consists of participatory interests and other forms of participation of local and global 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, investing in equity securities, property securities, non-equity securities, money market instruments, preference shares, listed and unlisted financial instruments, bonds and other interest-bearing instruments and securities.
To the extent that the assets in the portfolio are exposed to exchange rate risk, the manager may enter into financial transactions for the exclusive purpose of hedging such exchange rate risk subject to the conditions and limits as stipulated by the Act. 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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