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0.02  /  0.02%

103.33

NAV on 2019/11/14
NAV on 2019/11/13 103.31
52 week high on 2019/07/31 103.75
52 week low on 2018/12/03 102.96
Total Expense Ratio on 2019/09/30 0.48
Total Expense Ratio (performance fee) on 2019/09/30 0
NAV Incl Dividends
1 month change -0.02% 0.63%
3 month change -0.03% 1.91%
6 month change 0.04% 3.99%
1 year change 0.14% 8.24%
5 year change 0.1% 7.95%
10 year change 0.12% 7.16%
Price data is updated once a day.
  • Sectoral allocations
Gilts 1046.15 54.19%
Liquid Assets 11.27 0.58%
Money Market 873.21 45.23%
  • Top five holdings
MM-06MONTH 320.92 16.62%
MM-03MONTH 131.96 6.83%
MM-02MONTH 87.21 4.52%
MM-10MONTH 80.78 4.18%
MM-08MONTH 55.79 2.89%
  • Performance against peers
  • Fund data  
Management company:
Prescient Management Company Ltd. (PIM)
Formation date:
2003/07/01
ISIN code:
ZAE000121885
Short name:
U-PSCCSH
Risk:
Unknown
Sector:
South African--Interest Bearing--Short Term
Benchmark:
STeFI Call
Contact details

Email
info@prescient.co.za

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

Telephone
+27-21-700-3600

  • Fund management  
Farzana Bayat
Terri McGregor
Prescient Interest Bearing Team


  • Fund manager's comment

Prescient Yield Quant Plus Fund Comment- Sep 19

2019/10/17 00:00:00
The US Fed cut interest rates in September, which was in line with consensus. Markets are pricing in a further 3 to 4 cuts by 2021. Locally, the Monetary Policy Committee (MPC) members unanimously decided to leave the repo rate unchanged at 6.5% and stated, 'The implied path of policy rates over the forecast period generated by the Quarterly Projection Model indicated no changes to the repo rate.' Forward rate agreements are now pricing a lower chance of a cut over the next 12 months, having moved out by 17bps after the MPC statement.
The release of the Medium Term Budget Policy Statement (MTBPS) has been delayed to the 30th of October, which won't give Moody's much time to analyse details proposed by the budget for the year ahead, before their rating review announcement on the 1st of November. These will be key events driving the month ahead. The Fund is still earning an attractive real yield of between 3.5% and 4%, with a strong focus on high quality, shorter term liquid assets. We remain cognisant of the looming risks and will again wait for an opportunity to increase the duration in the Fund.
The Fund outperformed its benchmark in September as well as over the last twelve months. The bulk of the performance came from good quality paper held in the portfolio, which generated yield over and above the benchmark.
  • 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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