MONITOR THIS FUND
Become an Insider Gold member to monitor your funds.

0.24  /  0.04%

572.84

NAV on 2019/11/20
NAV on 2019/11/19 572.6
52 week high on 2019/03/19 588.48
52 week low on 2018/12/10 512.77
Total Expense Ratio on 2019/09/30 0.66
Total Expense Ratio (performance fee) on 2019/09/30 0
NAV Incl Dividends
1 month change 2.29% 2.29%
3 month change 6.4% 6.4%
6 month change 4.59% 4.59%
1 year change 10.62% 17.38%
5 year change 1% 5.8%
10 year change 6.36% 10.46%
Price data is updated once a day.
  • Sectoral allocations
Basic Materials 4.34 3.51%
Consumer Goods 1.79 1.45%
Consumer Services 1.02 0.83%
Derivatives 117.15 94.73%
Financials 3.16 2.56%
Gilts 52.13 42.15%
Industrials 0.16 0.13%
Liquid Assets -107.23 -86.70%
Money Market 47.65 38.54%
Technology 2.92 2.36%
Telecommunications 0.59 0.48%
  • Top five holdings
DERIVATIV 107.37 86.82%
MM-09MONTH 15.09 12.2%
MM-07MONTH 11.22 9.08%
FUTURES M 9.78 7.91%
MM-06MONTH 6.68 5.4%
  • Performance against peers
  • Fund data  
Management company:
Prescient Management Company Ltd. (PIM)
Formation date:
2003/07/01
ISIN code:
ZAE000063426
Short name:
U-PSCEQU
Risk:
Unknown
Sector:
South African--Equity--Large Cap
Benchmark:
FTSE/JSE Africa Top 40 Index
Contact details

Email
info@prescient.co.za

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

Telephone
+27-21-700-3600

  • Fund management  
Justin Sage
Rasebolelo Maleka
Prescient Equity Team


  • Fund manager's comment

Prescient Equity Top 40 Fund Comment - Sep 19

2019/10/17 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 Prescient Equity Top 40 Fund returned -5.15% gross of fees, ahead of the benchmark index which returned -5.22% 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%), BHP Group PLC (+3.13%) and FirstRand Ltd (+6.18%).
Detractors from Performance: The largest detractors were Naspers Ltd (-2.46%), AngloGold Ashanti Ltd (-17.93%) and Compagnie Financière Richemont (-3.17%).
  • Fund focus and objective  
The Fund is an enhanced equity index fund. Returns are then enhanced by taking advantage of low risk arbitrage opportunities in the market and other quantitative techniques. Addditional benefits are gained from efficient implementation of cashflows, dividend reinvestments, management of corporate actions and index rebalancing. Tracking error to the index is minimised in the process.
NEWSLETTERS WEB APP SHOP PORTFOLIO TOOL TRENDING CPD HUB

Follow us:

Search Articles:Advanced Search
Click a Company: