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0.02  /  0.02%


NAV on 2019/09/13
NAV on 2019/09/12 101.35
52 week high on 2019/06/28 101.81
52 week low on 2019/01/02 100.75
Total Expense Ratio on 2019/06/30 0.48
Total Expense Ratio (performance fee) on 2019/06/30 0
NAV Incl Dividends
1 month change 0.08% 0.75%
3 month change -0.02% 2.01%
6 month change 0.19% 4.3%
1 year change 0.32% 8.6%
5 year change 0% 0%
10 year change 0% 0%
Price data is updated once a day.
  • Sectoral allocations
Gilts 998.68 76.30%
Liquid Assets 82.97 6.34%
Money Market 227.16 17.36%
  • Top five holdings
MM-30MONTH 57.80 4.42%
MM-35MONTH 49.01 3.74%
MM-31MONTH 44.21 3.38%
MM-33MONTH 30.28 2.31%
MM-34MONTH 20.60 1.57%
  • Performance against peers
  • Fund data  
Management company:
Prudential Portfolio Managers Unit Trusts Ltd.
Formation date:
ISIN code:
Short name:
South African--Interest Bearing--Short Term
STeFI Composite
Contact details




  • Fund management  
Roshen Harry
Roshen Harry is a Portfolio Manager at Prudential Investment Managers, with 10 years’ experience. Having joined the group in May 2006, he is co-Portfolio Manager of Prudential’s Enhanced Income Fund, High Interest Fund and Money Market Fund.
Sandile Malinga
Sandile joined our fixed interest team in November 2013. He has joint portfolio management responsibility for our Prudential High Interest Fund, and provides analytical and econometric support to our fixed interest investment process. Sandile also has some fixed interest and derivative dealing responsibilities.

  • Fund manager's comment

Prudential Income Fund comment - Mar 19

2019/05/28 00:00:00
At the second Monetary Policy Committee (MPC) meeting of the year, the South African Reserve Bank (SARB) announced that it would keep interest rates unchanged at 6.75%, in line with market expectations. GDP for 2018 came in at 0.8% (y/y), slightly higher than expected; however the SARB indicated that this may be revised down to 0.7% (y/y). The SARB also lowered its growth forecast for 2019 from 1.7% to 1.3% and from 2.0% to 1.8% for 2020. Inflation for February was relatively subdued at 4.1% (y/y), marginally firmer than the 4.0% (y/y) posted in January. Meanwhile, ratings agency Standard & Poor's revised its outlook for Eskom from negative to stable.
The BEASSA All Bond Index returned 1.3%, inflation-linked bonds (the Composite ILB Index) delivered -0.8%, and cash as measured by the STeFI Composite Index returned 0.6%.
The fund has returned 8.8% over the past 12 months, compared to the Prudential Money Market Fund's 7.4% return and the Prudential High Interest Fund's 7.6% return over the same period.
  • Fund focus and objective  
The Fund invests in a flexible mix of non-equity securities in the South African market. It is suitable for short-to-medium term investors looking for an actively managed interest-bearing fund. Compared to traditional money market and enhanced cash funds, the Fund can have a longer weighted average duration (maximum 24 months) with no limit on the maximum maturity period for any one instrument. The Fund is managed to comply with regulations governing retirement fund investments (Regulation 28).
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