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0.42  /  0.42%


NAV on 2019/09/13
NAV on 2019/09/12 99.83
52 week high on 2019/05/03 105.03
52 week low on 2019/08/14 93.07
Total Expense Ratio on 2019/06/30 0.37
Total Expense Ratio (performance fee) on 2019/06/30 0
NAV Incl Dividends
1 month change 5.29% 5.29%
3 month change -1.19% -1.19%
6 month change -2.47% 3.69%
1 year change -2.73% 3.41%
5 year change -0.15% 2.96%
10 year change -0.08% 1.47%
Price data is updated once a day.
  • Sectoral allocations
Basic Materials 31.26 4.25%
Consumer Goods 13.31 1.81%
Consumer Services 19.02 2.58%
Derivatives 355.18 48.28%
Financials 50.04 6.80%
Gilts 268.14 36.45%
Health Care 6.78 0.92%
Industrials 13.92 1.89%
Liquid Assets -251.27 -34.15%
Money Market 221.59 30.12%
Technology 3.57 0.49%
Telecommunications 4.18 0.57%
  • Top five holdings
FUTURES M 354.26 48.15%
MM-03MONTH 44.27 6.02%
MM-02MONTH 40.64 5.52%
MM-09MONTH 31.85 4.33%
MM-11MONTH 27.55 3.74%
  • Performance against peers
  • Fund data  
Management company:
Prescient Management Company Ltd. (PIM)
Formation date:
ISIN code:
Short name:
South African--Equity--General
FTSE/JSE Shareholder Weighted All Share Total Return Index
Contact details




  • Fund management  
Fazila Manjoo

  • Fund manager's comment

Prescient Core Equity comment - Mar 19

2019/05/24 00:00:00
Despite a broadly flat to slightly negative March, the first quarter of the 2019 calendar year was largely positive for the listed South African equity market. The FTSE/JSE Capped SWIX gained 3.85% over the quarter, whilst the better rand hedged and larger cap JSE Top 40 Index gained an impressive 8.45%, which was the largest quarterly gain since 2017Q3. This was primarily led by the resource and industrial sectors, the FTSE/JSE Africa Resources and the FTSE/JSE Africa Industrials Indices gained 16.18% and 8.80% respectively. During a quarter that saw the country experience crippling electricity outages, heightened uncertainty over its sovereign debt investment grade rating, a record breaking tax revenue shortfall and last but not least an announcement by President Ramaphosa to nationalize SA's central bank, the South African rand weakened by -1.08% against the US dollar and with that, the FTSE/JSE Financial Index lost -0.44% over the quarter.
The FTSE/JSE SWIX Index was rebalanced during the month. The most notable changes were the inclusion of Stor-Age Property REIT Ltd (SSS) and the corresponding exclusions of Montauk Holdings Ltd (MNK) and Texton Property Fund (TEX). Although we take subtle stock tilts from the benchmark, the investment process for the Fund is designed to limit the active stock specific risk whilst also maintaining broad sector neutrality. Low risk performance enhancement strategies are employed to generate modest systematic alpha over the benchmark index. The low risk enhancements that are utilised as part of the Fund's investment process continued to add value. The Fund returned +6.23% (gross of fees), which was 0.22% ahead of the benchmark index for the quarter.
Contributors to Performance: The positions that contributed the most to the absolute performance of the Fund for the month were Naspers (+9.42%), British American Tobacco (+18.72%) and MTN Group (+10.12%).
Detractors from Performance: The largest detractors were Absa Group Limited (-15.78%), Aspen (-33.32%) and Nedbank (-11.66%).
  • Fund focus and objective  
The fund will invest in selected shares across all industry groups as well as across the range of large and mid-cap shares. The portfolio will seek enhancement opportunities by focusing on cost-effective and financially sound equity selection. 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 the Registrar from time to time.
The portfolio is permitted to invest in listed and unlisted financial instruments in line with the conditions as determined by legislation 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.
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