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0.14  /  0.08%


NAV on 2021/07/28
NAV on 2021/07/27 175.55
52 week high on 2021/07/28 175.69
52 week low on 2020/11/02 159.82
Total Expense Ratio on 2021/03/31 1.91
Total Expense Ratio (performance fee) on 2021/03/31 0.09
Incl Dividends
1 month change 1.37% 1.83%
3 month change 1.83% 2.3%
6 month change 4.32% 5.48%
1 year change 7.93% 11.14%
5 year change 2.82% 6.77%
10 year change 5.49% 8.93%
Price data is updated once a day.
Click and drag to zoom in on timeline.
  • Sectoral allocations
Bond Funds 28.40 3.81%
Fixed Interest 213.09 28.59%
General Equity 90.27 12.11%
Liquid Assets 1.44 0.19%
Managed 244.28 32.77%
Spec Equity 167.87 22.52%
  • Top five holdings
U-BCIBSTF 204.10 27.38%
U-BCIINCP 174.52 23.41%
U-ANCBOND 40.18 5.39%
U-SELEEEF 39.74 5.33%
U-CORSTRI 38.57 5.17%
  • Performance against peers
  • Fund data  
Management company:
Boutique Collective Investments (RF) (Pty) Ltd.
Formation date:
ISIN code:
Short name:
South African--Multi Asset--Low Equity
CPI + 3% p.a.



  • Fund management  
SBRO Fonds Bestuurders
Willie Botha

  • Fund manager's comment

S BRO Defensive FoF comment- Sep 13

2013/11/27 00:00:00
Risk-on was the theme for the month of September as investors clamoured for risky assets after the Fed decided to hold off on their tapering strategy until they had better assurances from economic growth and performance indicators. Global markets were boosted by the news and had an exceptional month. The MSCI World Index and the MSCI Emerging Markets Index returned 4.82% and 6.23% respectively, while MSCI Africa ex SA returned 5.42% in dollars. German, Japanese and French markets delivered close to and over 8% in dollar terms, while the S&P 500 returned 3%. Local markets began the month on a cautious note as labour unrest began to take hold of the key export sectors in motoring and gold mining. This did not fail to hamper the All Share rally, which reached a new high of 44,000 index points. The All Share delivered 5.08%, which was driven by industrials (4.25%) and financials (6.32%) while resources returned 1.96%. Large caps delivered 5.66%, while mid-caps and small-cap shares returned 4.91% and 6.23% respectively. Investors benefitted from a rally in local bonds and listed property, with the All Bond index up 3.9%, Inflation-linked bonds up 2.91% and local listed property up a stellar 6.71% on the back of improving fundamentals, a stronger rand and lower bond yields. The rand ended the month stronger against the dollar at R10, while flat against the Euro (R13.55) and weaker against the sterling (R16.25).
  • Fund focus and objective  
The S-BRO BCI Defensive Fund of Funds is a conservative managed fund of funds. The objective of this portfolio is to provide the investor with a high level of income combined with stable medium to long term real capital growth and will seek to follow an investment policy which will reflect a spread of investments aiming at income and capital growth normally associated with the investment structure of a conservative retirement fund. It will invest in a broad range of participatory interests and other forms of participation in collective investment schemes or similar schemes. To provide a limited level of capital growth, the portfolio's equity exposure may be as high as 40% of the portfolio's net asset value. This fund comply with Regulation 28.

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