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-0.14  /  -0.12%


NAV on 2019/09/13
NAV on 2019/09/12 112.69
52 week high on 2019/03/29 113.86
52 week low on 2018/10/25 106.01
Total Expense Ratio on 2019/06/30 1.17
Total Expense Ratio (performance fee) on 2019/06/30 0
NAV Incl Dividends
1 month change 1.35% 1.35%
3 month change 2.03% 2.03%
6 month change -0.74% 3.13%
1 year change 2.19% 10.23%
5 year change -0.54% 7.65%
10 year change 0.14% 8.13%
Price data is updated once a day.
  • Sectoral allocations
Derivatives -1.40 -0.32%
Gilts 344.19 78.04%
Liquid Assets 42.73 9.69%
Money Market 55.51 12.59%
  • Top five holdings
MM-08MONTH 16.22 3.68%
MM-09MONTH 14.35 3.25%
MM-07MONTH 8.79 1.99%
MM-06MONTH 6.05 1.37%
MM-12MONTH 6.03 1.37%
  • Performance against peers
  • Fund data  
Management company:
Prescient Management Company Ltd. (PIM)
Formation date:
ISIN code:
Short name:
South African--Interest Bearing--Variable Term
BEASSA All Bond Index
Contact details




  • Fund management  
Guy Toms
Guy is Prescient's Chief Investment Strategist and one of its co-founders. After graduation, Guy worked as a bond analyst and manager, and as derivatives specialist at asset management houses including Colonial Mutual, Cape Gilt Investments and Southern Life. At Investec, Guy worked as a bond manager and was responsible for all derivative exposure in the pension funds. He then joined District Securities Bank where he was later appointed a Bank Director, before leaving to establish Prescient Investment Management with Herman Steyn
Sanveer Hariparsad

  • Fund manager's comment

Prescient Bond Quant Plus Comment - Mar 19

2019/05/24 00:00:00
At its policy meeting in March, the US Fed indicated that it would not hike rates at all in 2019 whereas it was previously indicating two rate hikes. In addition, the committee decided it will stop its balance sheet reduction programme by September this year. This dramatic turnaround in policy has fuelled market expectations that the Fed will actually cut rates with time. The Fed's dovish policy stance and the 'risk on' environment was generally supportive of EM bond markets over the quarter and as such masked the effects of a deterioration in the SA fiscal position presented in the budget. Also, Moody's did not downgrade South Africa as expected on its scheduled review date in March, which resulted in a rally of the domestic bonds. The All Bond Index (ALBI) gained +3.81% for the quarter. The yield curve steepened as yields on the short end fell by more than those on the long end.
The Fund was at neutral duration compared to the ALBI. Holdings consisted of credit exposure through banks and State Owned Corporations, in both the bond and cash markets, to take advantage of the additional pick-up in yield. Credit exposure and the resulting yield pick-up contributed positively to performance. There were no detractors from performance.
  • Fund focus and objective  
The Fund aims to generate returns above the JSE All Bond Index over time, utilising active bond management combined with strategies which aim to reduce risk over time.
The Fund invests in cash and high-quality capital market instruments. A number of techniques are used to
generate returns, including duration management, yield enhancements via credit exposure and risk
management strategies, where these strategies are designed to provide downside protection.
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