•  Southern Charter BCI Worldwide Flexible Fund of Funds (A)

-1.25  /  -0.78%


NAV on 2020/10/22
NAV on 2020/10/21 161.39
52 week high on 2020/08/17 167.95
52 week low on 2020/03/24 126.18
Total Expense Ratio on 2020/06/30 2.03
Total Expense Ratio (performance fee) on 2020/06/30 0.04
Incl Dividends
1 month change 1.02% 1.02%
3 month change 1.64% 1.64%
6 month change 5.61% 6.25%
1 year change 11.39% 12.83%
5 year change 4.39% 5.45%
10 year change 0% 0%
Price data is updated once a day.
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  • Sectoral allocations
Bond Funds 8.64 13.97%
Fixed Interest 4.25 6.87%
General Equity 1.72 2.78%
Liquid Assets 0.27 0.44%
Spec Equity 35.46 57.37%
Specialist Securities 11.48 18.57%
  • Top five holdings
U-INVGLFA 9.19 14.87%
U-NEDGEFF 8.67 14.03%
U-CORBOND 8.64 13.97%
U-SYIXSP5 7.69 12.44%
U-CORGSIN 5.40 8.74%
  • Performance against peers
  • Fund data  
Management company:
Boutique Collective Investments (RF) (Pty) Ltd.
Formation date:
ISIN code:
Short name:
Worldwide--Multi Asset--Flexible
CPI plus 5% p.a.



  • Fund management  
Ursula Maritz
Started as an economist at OMAM. Fund management experience across institutional and retail mandates. After 15 years at OMAM joined Foord Asset Management as a fixed income fund manager. Global multi-management experience with Mercer (New Zealand) as an asset consultant. Joined SMMI in 2005 with responsibility for SA asset allocation process, fund manager research and fund management of wrap funds and unit trusts with 18 years investment experience.
Mark Thompson

  • Fund manager's comment

Southern Char BCI Flexible FoF Comment - Dec 19

2020/01/28 00:00:00
The SA economy contracted by 0.6% in 3Q19, after growing by 3.1% in the second quarter of the year and shrinking by 3.2% in the first quarter. Eskom shocked the nation by implementing stage 6 load shedding for the first time in history, not boding well for economic growth in the short to medium term. But December 2019 served to prove that no matter what the domestic situation, a globally accommodating environment will strengthen the rand. Thus, we saw the rand appreciate by 4.7% against the US dollar, as the phase one trade deal between China and the US helped catalyse a rally in emerging market stocks and currencies. SA government bonds benefited from the EM rally as the benchmark R186 government bond yields dropped 0.2% during the month to end the year at 8.3%, an impressive real yield given Stats SA’s announcement of a decade-low 3.6% inflation rate during the month.
For the year 2019, the ALSI and ALBI gained 12.1% and 10.3% respectively. SA listed property returned 1.9% and cash returned 7.3%. The MSCI World Index rewarded South African investors with a lucrative 24.1% total return in rand terms. The rand strengthened by 2.7% against the greenback. Platinum shares were again leading the way, up another 20% the month to cap a year in which their share prices tripled, Impala Platinum and Northam Platinum returned a staggering 291% and 186% in 2019 respectively, which bode well for the fund. SA Property shares had another forgettable year, returning a meagre total return of 1.9% including 9% of dividends. Valuers have started adjusting assumptions on future market rental growth downwards across all sectors, which has led to write-downs in property valuations. There is a risk of further writedowns given weak property fundamentals and limited transactional evidence, hence the fund remains underweight local property.
  • Fund focus and objective  
The Fund is actively managed and reflects our best unconstrained asset allocation strategy.
The Southern Charter BCI Worldwide Flexible Fund of Funds primary objective is to generate moderate to high long term total returns. The fund aims to provide investors with capital growth of 5 % above inflation over a 2 year rolling period, by investing in a combination of asset classes including local and international equities, fixed interest, property and cash. The manager shall have maximum flexibility in terms of asset allocation and shall not be precluded from continually varying the underlying exposure to both local and offshore assets such as equities, non-equity securities, bonds, preference shares, property, fixed interest and money market portfolios and assets in liquid form. This fund is NOT Regulation 28 compliant and therefore will reflect our best unconstrained asset allocation strategy. It is ideal for investors with discretionary funds and who are willing to have a high exposure to offshore assets.

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