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0.1  /  0.03%


NAV on 2019/05/21
NAV on 2019/05/20 289.17
52 week high on 2018/09/05 306.36
52 week low on 2018/05/28 248.91
Total Expense Ratio on 2019/03/31 1.19
Total Expense Ratio (performance fee) on 2019/03/31 0
NAV Incl Dividends
1 month change 1.97% 1.97%
3 month change 3.43% 3.43%
6 month change 4.94% 4.94%
1 year change 12.83% 12.83%
5 year change 8.53% 8.53%
10 year change 7.9% 7.9%
Price data is updated once a day.
  • Sectoral allocations
Fixed Interest 1.10 1.29%
Liquid Assets 0.15 0.18%
Offshore 84.08 98.53%
  • Top five holdings
PGIPC 84.06 98.5%
U-PRESCMM 1.10 1.29%
  • Performance against peers
  • Fund data  
Management company:
Prescient Management Company Ltd. (PIM)
Formation date:
ISIN code:
Short name:
Global--Multi Asset--Income
US Inflation + 1% (ZAR) LAG
Contact details




  • Fund management  
Prescient Interest Bearing Team

  • Fund manager's comment

Prescient Global Income Feeder comment - Sept 18

2018/12/19 00:00:00
September was a month of relative calm after the previous period's significant volatility, particularly with regards to Emerging Markets (EM). Developed world bond markets sold-off during the month with Treasuries and Bunds down -1% and -0.9% respectively. At the same time, gilts ended -1.9% lower with concerns over a hard Brexit still weighing on the market. EM was mixed with the Turkish lira having a very strong month (+8.2%) after its recent significant declines and the Argentinian peso declining -10.7%. Credit markets were generally flat during the month. SA credits had a stronger month with the 5 year CDS coming in from 230bps over at the end of August to 203bps at the end of September. It started the quarter at 206 bps but there were significant moves during the quarter with it peaking at 258bps. The rand was stronger versus the US dollar during the month, which detracted from the Feeder Fund's performance.
Contributors to Performance:
The yield on the Fund and SA credit spread tightening were the biggest contributors to performance.
Detractors from performance:
No significant detractors.
  • Fund focus and objective  
The Fund aims to generate real return in US Dollars and is benchmarked to the US 90 day Treasury Bill rate, converted to Rands.
The investment universe includes fixed, floating, real and nominal money market and bond market
investments, property, derivatives and global currencies. Fund performance can be generated from taking
interest rate views or duration, yield enhancement via credit instruments, asset allocation between income
producing asset classes, the use of derivatives and currency management. Focus is placed on maintaining the high credit quality of the Fund.
Investors seeking a hedge against any rand depreciation while gaining exposure to high yielding offshore
assets that are not available locally. This Fund is suitable to investors with a medium to long-term investment horizon.
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.
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