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0.61  /  0.26%


NAV on 2019/09/13
NAV on 2019/09/12 233.66
52 week high on 2019/03/19 244.42
52 week low on 2019/05/28 224.19
Total Expense Ratio on 2019/06/30 0.9
Total Expense Ratio (performance fee) on 2019/06/30 0
NAV Incl Dividends
1 month change 1.7% 1.7%
3 month change 0.58% 0.58%
6 month change -3.7% 4.18%
1 year change 0.03% 8.22%
5 year change -1.16% 5.28%
10 year change 1.04% 6.14%
Price data is updated once a day.
  • Sectoral allocations
Derivatives 40.22 5.79%
Financials 26.96 3.88%
Fixed Interest 114.59 16.51%
Gilts 263.88 38.01%
Liquid Assets -6.08 -0.88%
Money Market 108.74 15.66%
Other Sec 64.94 9.35%
Real Estate 43.94 6.33%
Offshore 37.06 5.34%
  • Top five holdings
U-PFLEXFI 67.70 9.75%
U-PSCPROP 43.94 6.33%
FUTURES M 39.89 5.74%
MM-02MONTH 38.44 5.54%
PECEIDFTRUST 37.06 5.34%
  • Performance against peers
  • Fund data  
Management company:
Prescient Management Company Ltd. (PIM)
Formation date:
ISIN code:
Short name:
South African--Multi Asset--Medium Equity
Headline CPI + 3%
Contact details




  • Fund management  
Guy Toms
Guy is Prescient's Chief Investment Strategist and one of its co-founders. After graduation, Guy worked as a bond analyst and manager, and as derivatives specialist at asset management houses including Colonial Mutual, Cape Gilt Investments and Southern Life. At Investec, Guy worked as a bond manager and was responsible for all derivative exposure in the pension funds. He then joined District Securities Bank where he was later appointed a Bank Director, before leaving to establish Prescient Investment Management with Herman Steyn
Bastian Teichgreeber

  • Fund manager's comment

Prescient Positive Return Quant + Comment - Mar 19

2019/05/24 00:00:00
What a difference a quarter makes! The Federal Reserve indicated that it was less likely to raise interest rates this year whilst markets were pricing in probabilities of potential rate cut rates., Added to this, trade war concerns between China and the US also receded. This, along with attractive initial valuations across asset classes, led capital to flow back into developed and emerging market equities.
The Top40 Index started the year below 47000 and charged through 50000 by the end of the March 2019. Bonds, property and currency were flat over the quarter, while preference shares returned 7%. As a result of this exposure in the portfolio resulted in a gain of 4.2% over the quarter. The portfolio was previously positioned to participate in Top40 equity from 47000 to the 50500 level. Given the option expiry in March and the strong rally in equities, the option terms were extended and the portfolio was structured to participate from the 50 000 to the 52500 level on the Top40 Index. This reduced the downside risk of the portfolio and locked in some of the quarter's gains. The Positive Return Fund has managed to achieve d CPI + 4% over the last twelve month period.
Contributors to performance:
Local equities where the largest contributor to performance with the asset class rallying by more than 6% for the quarter. The fixed interest backbone of the fund also contributed significantly over the quarter.
Detractors from performance:
The only detractor was the cost of protection, while bonds and property exposure were both unchanged over the quarter.
  • Fund focus and objective  
The Fund aims to return CPI + 4% per annum over the medium term by generating consistent positive returns while protecting capital over rolling 12-month periods.
The Fund invests in cash, capital market instruments and equities with an active asset allocation overlay. The equity component of the Fund is protected to reduce the risk of capital loss. The Fund is thus structured to optimise returns in positive market cycles and to protect capital during negative periods/cycles.
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