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0.02  /  0.02%


NAV on 2019/05/21
NAV on 2019/05/20 103.4
52 week high on 2019/04/30 103.64
52 week low on 2018/06/01 102.82
Total Expense Ratio on 2019/03/31 0.59
Total Expense Ratio (performance fee) on 2019/03/31 0
NAV Incl Dividends
1 month change 0.01% 0.68%
3 month change 0.04% 1.94%
6 month change 0.06% 3.98%
1 year change 0.15% 8.16%
5 year change 0.08% 7.65%
10 year change 0.1% 7.05%
Price data is updated once a day.
  • Sectoral allocations
Gilts 719.21 36.85%
Liquid Assets 15.47 0.79%
Money Market 1216.82 62.35%
  • Top five holdings
MM-12MONTH 301.72 15.46%
MM-10MONTH 208.72 10.7%
MM-03MONTH 162.89 8.35%
MM-02MONTH 147.14 7.54%
MM-06MONTH 130.95 6.71%
  • Performance against peers
  • Fund data  
Management company:
Prescient Management Company Ltd. (PIM)
Formation date:
ISIN code:
Short name:
South African--Interest Bearing--Short Term
STeFI Call
Contact details




  • Fund management  
Farzana Bayat
Terri McGregor

  • Fund manager's comment

Prescient Yield Quant Plus Fund Comment- Jul 17

2017/09/14 00:00:00
The 3-month Jibar declined 0.25% in July post the repo rate cut from 7.33% to 7.08% while the 12 month Jibar declined 0.42% from 8.17% to 7.75% over the same period. The forward interest rate curve shifted around 0.25% - 0.35% lower over the month and is currently pricing in almost 0.50% worth of rate cuts in 12 months' time. However, risks to interest rates coming lower stem from the political risks in December, tightening of global monetary policy and a narrowing of rate differentials of SA relative to EM peers.
Fund duration remains short (less than three months) as we do not see value in holding fixed rate assets at levels that have already priced in two additional interest rate cuts. At the end of July, holdings consisted of a mix of yield enhancing assets comprised of bank floating-rate notes, step-up notes, NCD's, credit-linked notes, corporate paper, short-dated fixed and floating rate bonds. Additionally, the Fund is currently yielding 8.4% gross.
Furthermore, it outperformed its benchmark in July and the main contributors to performance emanated from the high funding spreads and the downward shift in the yield curve, which led to some mark to market gains.
  • Fund focus and objective  
The Fund aims to achieve returns above the STeFI Call Index and the average money market fund, while
minimising the risk of any underperformance. Importantly, the Fund is managed conservatively and it aims to maintain capital stability and liquidity.
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