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NAV on 2019/10/15
NAV on 2019/10/14 100
52 week high on 2018/10/17 100
52 week low on 2018/10/17 100
Total Expense Ratio on 2019/06/30 0.42
Total Expense Ratio (performance fee) on 2019/06/30 0
NAV Incl Dividends
1 month change 0% 0.6%
3 month change 0% 1.86%
6 month change 0% 3.79%
1 year change 0% 7.81%
5 year change 0% 7.55%
10 year change 0% 6.83%
Price data is updated once a day.
  • Sectoral allocations
Gilts 469.59 19.02%
Liquid Assets 96.12 3.89%
Money Market 1903.36 77.09%
  • Top five holdings
MM-02MONTH 359.67 14.57%
MM-03MONTH 335.18 13.58%
MM-01MONTH 289.60 11.73%
MM-06MONTH 238.88 9.68%
MM-08MONTH 144.65 5.86%
  • Performance against peers
  • Fund data  
Management company:
Prescient Management Company Ltd. (PIM)
Formation date:
ISIN code:
Short name:
South African--Interest Bearing--Money Market
SteFI Call
Contact details




  • Fund management  
Farzana Bayat
Terri McGregor

  • Fund manager's comment

Prescient Money Market comment - Mar 19

2019/05/24 00:00:00
The Monetary Policy Committee unanimously kept the repo rate unchanged at 6.75% last month. From the meeting, mention was made that upside risks remain locally with administered prices and the oil price named as specific concerns. Meanwhile, global factors countered these to some degree with downside risks of lower global inflation amidst the revision lower for the global growth outlook, and thus the accommodative monetary policies in place. The National Energy Regulation Agency (NERSA) granted Eskom tariff increases of 9.4%, 8.1% and 5.22% for years through 2019-2021 respectively.
Towards month-end, the rand weakened with most other emerging market currencies as Turkey implemented additional foreign exchange controls to prevent the lira from depreciating further. After waiting on tenterhooks for an extended period, Moody's eventually refrained from publishing any review on SA. With the low inflation prints over the previous three months, the forward rates priced in the market, continued to show no move in rates over the next 12 months. The Fund outperformed its benchmark in March as well as over the last twelve months. The bulk of the performance came from good quality credit held in the portfolio, which generated yield over and above the benchmark.
  • Fund focus and objective  
The investment objective of the portfolio is to maximise interest income and preserve the portfolio's capital and provide liquidity. The investors can obtain undivided participation in a diversified portfolio of money market instruments as defined in CISCA and the regulations thereto from time to time. The primary performance objective of the portfolio is to obtain as high a level of current income as is consistent with capital preservation and liquidity. Capital gains will be of an incidental nature.
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