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0.46  /  0.45%

102.73

NAV on 2019/11/18
NAV on 2019/11/15 102.27
52 week high on 2019/04/23 107.18
52 week low on 2019/08/27 94.41
Total Expense Ratio on 2019/09/30 0.41
Total Expense Ratio (performance fee) on 2019/09/30 0
NAV Incl Dividends
1 month change 0% 0%
3 month change 0% 0%
6 month change 0% 0%
1 year change 0% 0%
5 year change 0% 0%
10 year change 0% 0%
Price data is updated once a day.
  • Sectoral allocations
Basic Materials 10.68 3.04%
Consumer Goods 7.48 2.13%
Consumer Services 8.73 2.48%
Derivatives 28.25 8.03%
Financials 29.49 8.38%
Gilts 143.66 40.84%
Health Care 8.10 2.30%
Industrials 7.49 2.13%
Liquid Assets -17.19 -4.89%
Money Market 115.11 32.72%
Technology 8.30 2.36%
Telecommunications 1.70 0.48%
  • Top five holdings
MM-06MONTH 28.73 8.17%
DERIVATIV 25.71 7.31%
MM-03MONTH 14.75 4.19%
MM-09MONTH 13.01 3.7%
MM-07MONTH 10.91 3.1%
  • Performance against peers
  • Fund data  
Management company:
Prescient Management Company Ltd. (PIM)
Formation date:
2019/01/30
ISIN code:
ZAE000268157
Short name:
U-COCAPRE
Risk:
Unknown
Sector:
South African--Equity--General
Benchmark:
FTSE/JSE Capped All Share index
Contact details

Email
info@prescient.co.za

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

Telephone
+27-21-700-3600

  • Fund management  
Prescient Investment Management


  • Fund manager's comment

Prescient Core Capped Equity Comment - Sep 19

2019/10/24 00:00:00
The third quarter of 2019 delivered varied returns across global equity markets. The MSCI World, which has approximately 60% US weighting, and S&P500 Indices returned +0.08% and +1.19% in US dollars respectively following two consecutive rate cuts by the Fed. However, the global economic slowdown, rising trade war tensions and the strengthening US dollar have hampered emerging markets as evidenced by the MSCI Emerging Markets Index losing - 5.11% in US dollars over the quarter. For Britain, the domestic political turbulence and Brexit uncertainty hindered the FTSE 100 over the quarter, resulting in a dispiriting return of -3.52% in US dollars.
On shore, the economic burden of debt-ridden State-Owned Enterprises, faltering economic growth as well as the global market risk sentiment caused the rand to retract by -7.45% during the quarter. Consequent to this and escalating uncertainty surrounding the debt-relief bill and the National Health Insurance, the financial sector was the laggard of the quarter with the FTSE/JSE Africa Financial 15 Index losing -9.26%. From a broader market perspective, the FTSE/JSE Capped SWIX All Share and FTSE/JSE Top 40 Indices delivered -5.11% and -5.22% in ZAR respectively. This is the worst third-quarter performance since Q3 2011 on the back of a brilliant start to 2019. However, platinum miners and gold producers proved to be more resilient in the risk-off environment, with the likes of Northam (+40.88%), Impala (+36.60%) and Harmony (+36.42%) partially counteracting the underperformance of the JSE. The headlining market event of the quarter was the unbundling by Naspers Ltd. (NPN) of its internet company, Prosus NV (PRX). Both NPN and PRX had a strong start after the September 11th unbundling, however, they finished the month down -2.46% and -7.95% respectively.
The low risk enhancements that are utilised as part of the Prescient Core Capped Equity Fund's investment process continued to add value for the quarter. The Fund returned -4.92% gross of fees, ahead of the benchmark index that returned -5.11% over the quarter.
Contributors to Performance: The positions that contributed the most to the absolute performance of the Fund for the month of September were AngloGold American PLC (+7.36%), FirstRand Ltd (+6.18%), and Capitec Bank Holdings Ltd (+17.59%).
Detractors from Performance: The largest detractors were Sasol Ltd (-12.12%), Prosus NV (-7.95%) and AngloGold Ashanti Ltd (-17.93%).
  • Fund focus and objective  
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