NAV on 2021/02/26
|NAV on 2021/02/25
|52 week high on 2021/02/16
|52 week low on 2020/03/19
|Total Expense Ratio on 2020/12/31
|Total Expense Ratio (performance fee) on
Personal Trust International
JSE All Share Total Return Index
Personal Trust Equity comment - May 2016
The Personal Trust Equity Fund performance has not benefited from an underweight position in Naspers during the quarter. Holdings remained fairly static, however weightings were reduced slightly in selling down Standard Bank to index weight; British American Tobacco was also marginally reduced from a substantial overweight relative to index. The portfolio remains well positioned if a debt downgrade does materialise for South Africa.
The performance this quarter was hampered by an underweight position in Naspers relative to the JSE All Share Index. However the investment strategy, while embracing active asset management principles, implies taking at least a five year view; moving away from the current obsession of quarterly performance and implementing sound long term strategies. The fund and in particular the top ten holdings still reflect the investment philosophy which favours high quality, highly liquid companies with consistent long term track records and which embrace the themes of equities that exhibit a strong Rand hedge and SA consumer centric bias. The Equity Fund will reflect the guiding principles of the Investment Councils model portfolio and investment process.
Fund Objective - To provide returns in excess of the JSE All Share Index over the long-term with lower than average risk of capital loss.
*Alternate, more efficient vehicle for clients with individual share portfolios due to CGT deferral
*Suitable for investors seeking full exposure to the SA equity market
*Focus on high quality businesses with good long-term prospects
*Caters for clients who have a high risk profile with a long-term investment horizon
*Suitable for investors who are looking for outperformance of the South African equity market in varying market conditions. May underperform the market in the short-term in search of long-term gains.