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-29.31  /  -0.47%


NAV on 2020/02/28
NAV on 2020/02/27 6313.43
52 week high on 2020/01/20 6562.54
52 week low on 2019/05/24 5760.79
Total Expense Ratio on 2019/12/31 1.9
Total Expense Ratio (performance fee) on 2019/12/31 0.44
NAV Incl Dividends
1 month change -0.98% -0.98%
3 month change 2.34% 2.34%
6 month change 6.55% 7.94%
1 year change 7.16% 9.45%
5 year change 2.52% 4.96%
10 year change 9.59% 11.54%
Price data is updated once a day.
  • Sectoral allocations
Additional 295.63 5.93%
Basic Materials 366.49 7.35%
Consumer Goods 99.83 2.00%
Consumer Services 382.35 7.67%
Financials 700.58 14.06%
General Equity 213.43 4.28%
Industrials 89.59 1.80%
Liquid Assets 1383.64 27.76%
Offshore 1453.00 29.15%
  • Top five holdings
TOTDOMMONMKT 769.43 15.44%
FINANCIALS 700.58 14.06%
CONSUMERSRVS 382.35 7.67%
BASICMATERIAL 366.49 7.35%
ADDITIONAL 295.63 5.93%
  • Performance against peers
  • Fund data  
Management company:
Rezco Collective Investments Limited
Formation date:
ISIN code:
Short name:
South African--Multi Asset--High Equity
FTSE/JSE All Share index
Contact details




  • Fund management  
Rob Spanjaard
Rob has a long-term fascination with investment markets. As a student at UCT, Rob won the national Financial Mail reader stock picking competition. He graduated with a B.Com and CTA before passing the Chartered Accountants’ Board Exam. Rob then worked as a portfolio manager for Momentum Asset Management. In his last year, the unit trust he managed was rated number one in its sector.

Rob left Momentum in 1991 to lead a private equity deal. In 2006, after growing the turnover and profits by 25% per annum for 15 years, and listing the company as Sovereign Foods, Rob decided to return to asset management and sold the business to institutional investors. At that stage, Sovereign Foods was the most profitable company in its industry.

Rob then joined Wally Gray at Rezco with the objective of establishing a consistently high performing unit trust company. The first fund, the Rezco Value Trend Fund, was registered in 2004 and has won numerous best fund awards over that time.
Simon Sylvester
Simon joined Rezco in 2015, with previous experience at Deutsche Bank in London, Cogito Capital and Discovery Invest. Simon qualified from UKZN with a B.Bus Sci (Finance Honours), and holds the CFA and CIPM designations. Simon has a keen interest in stock picking, especially focusing on business strategy and how industries evolve through changing environments.

  • Fund manager's comment

Rezco Value Trend comment - Dec 11

2012/02/22 00:00:00
We believe that the Joint ECB, FED action of last week was extremely significant. It amounted to stealth Quantitative Easing for Europe. This should continue to drive the market higher but expect volatility. The market result is the probability that the end of this year and the first quarter of 2012 will look similar to 2010.
In our note last week we indicated the high likelihood of some ECB action to lower the temperature of the crisis.
The significance of the joint action taken by the Fed and the ECB last week is easy to miss. The swop between the two central banks amounts to an expansion of the Central Banks balance sheets and is therefore Quantitative Easing.
The Euro crisis had two distinct elements to it.
The first was the much publicized sovereign debt squeeze, particularly on Spain and Italy.
The second dimension was the severe strain to the normal functioning of the European credit markets.
o Banks were not wanting to lend to each other or anyone else for that matter. European banks as of last week had parked $ 300 billion at the ECB.
o Banks were having trouble funding dollar assets. Investors particularly, US money market funds, preferred to park their funds in US Treasuries and had lost their appetite for European Banks.
o EU banks ability to issue uncovered bonds has all but dried up.
This second dimension was in our opinion far more serious in that it was starting to drive the real economy towards recession and could easily have evolved into a 2008 type of banking crisis.
The SWOP arranged last week is an elegant solution giving the ECB a tool to keep the pressure on the delinquent governments to act, but at the same time to take the pressure off the banks and thereby the real economy.
The ECB meets this Thursday and we expect further material action to reduce the pressure on the banking system and the real economy.
We expect this stealth Quantitative Easing to ensure a rally in risk assets through the year end and flowing into the first quarter of next year.
  • Fund focus and objective  
The fund is a multiple award winning fund and has achieved exceptional returns complemented with substantially lower volatility. The fund can invest in a variety of asset classes such as shares, bonds, listed property and cash. Equity exposure is currently limited to 75% and foreign exposure is currently limited to 25%. The fund aims to have an long-term average equity exposure of 65%. Meticulous, concentrated share selection enables the Rezco Value Trend Fund to be less correlated to the overall market and enables the fund to generate superior performance for investors. Our stock selection strategy focuses on international and domestic companies with strong earnings growth records, sustainable revenue streams and relatively low borrowings. By identifying companies which combine these features, Rezco is able to undertake in-depth research required to select new shares for the portfolio which can achieve a secure balance between risk and growth.

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