NAV on 2020/10/29
|NAV on 2020/10/28
|52 week high on 2020/08/17
|52 week low on 2020/03/24
|Total Expense Ratio on 2020/03/31
|Total Expense Ratio (performance fee) on 2020/03/31
Prescient Management Company Ltd. (PIM)
MSCI World Total Return Index
Prescient Equity Team
Prescient Global Equity Feeder comment - Sep 19
The trade war continued into September and this together with muted US inflation pressures of below 2% may have been the reasons for the Fed cutting interest rates by 0.25%. The Fed focus is currently more on maximum employment. Meanwhile, markets are still pricing in further cuts in the Fed funds rate. The Fund returned -1.4% relative to a benchmark return of 2.2% for the MSCI World Total Return Index in USD during September. Top performing countries over the quarter included Belgium (+3.62%), Japan (+2.3%) and Netherlands (+1.97%), while Hong Kong (-12.67%), United Kingdom (-10.64%) and Singapore (-7.21%) lagged over the quarter. Sectors delivering good returns for the quarter included Utilities (+5.77%), Real Estate (+3.58%) and Consumer Staples (+3.55%). Energy (-6.69%), Materials (-4.11%) and Health Care (-1.58%) performed poorly relative to other sectors over the quarter.
The South African rand strengthened marginally by 0.4% moving from 15.20 to 15.13 against the greenback over the month and lost -6.9% over the quarter.
Contributors to performance: Top contributors to returns included Suncor Energy Inc (+8.98%), Kroger Co/The (+8.87%), Franklin Resources Inc (+10.82%), Asml Holding Nv (+11.49%) and Blackrock Inc (+6.31%).
Detractors from performance: Top detractors from returns include Netflix Inc (-8.9%), Airbus Se (-5.63%), S&P Global Inc (-5.85%) and Micron Technology Inc (-5.35%).
The Fund is an actively managed global equity fund that aims to outperform MSCI World Index in Rands over time.
The Fund is fully invested in equities and is structured to minimise the risk of underperforming the benchmark by investing in a diversity of risk premia and blending those strategies to reduce relative market risk over time. The equity selection process targets those shares that offer value and is supported by positive market sentiment.
Investors seeking growth and protection against Rand depreciation through a benchmark aware global equity fund. This Fund is suitable to investors with a long-term investment horizon who wants to invest in Rands.
These portfolios typically exhibit more volatility and potential for capital losses due to higher exposure to
equities and exposure to offshore markets where currency fluctuations may result in capital losses. These
portfolios typically target returns in the region of 5% - 6% above inflation over the long term.