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3.46  /  0.47%


NAV on 2021/09/15
NAV on 2021/09/14 733.1921
52 week high on 2021/08/17 777.2895
52 week low on 2020/10/30 571.2214
Total Expense Ratio on 2021/06/30 1.55
Total Expense Ratio (performance fee) on 2021/06/30 0
Incl Dividends
1 month change -4.61% -4.61%
3 month change -1.86% -1.86%
6 month change -2.26% -2.26%
1 year change 19.41% 19.9%
5 year change 4.2% 5.51%
10 year change 7.12% 8.69%
Price data is updated once a day.
Click and drag to zoom in on timeline.
  • Sectoral allocations
Basic Materials 34.70 4.15%
Consumer Discretionary 29.06 3.48%
Derivatives 475.02 56.88%
Energy 0.04 0.00%
Financials 28.15 3.37%
Fixed Interest 164.39 19.68%
General Equity 172.07 20.60%
Health Care 5.38 0.64%
Industrials 16.81 2.01%
Liquid Assets -153.82 -18.42%
Spec Equity 42.21 5.05%
Technology 18.56 2.22%
Telecommunications 2.60 0.31%
  • Top five holdings
DERIVATIV 453.96 54.35%
U-CIDIVIN 164.39 19.68%
U-ADVALPH 134.89 16.15%
U-ADVEQID 42.21 5.05%
U-CIENGEQ 37.18 4.45%
  • Performance against peers
  • Fund data  
Management company:
Ci Collective Investments (RF) Prop Ltd.
Formation date:
ISIN code:
Short name:
South African--Equity--General
FTSE/JSE All Share Index


011 463 5656

  • Fund management  
Portfolio Analytics (Pty) Ltd

  • Fund manager's comment

Analytics Managed Equity comment - Sep 12

2012/11/22 00:00:00
QE 3 is now behind us and the European Central Bank has given the markets a glimpse of its bond buying bazooka but uncertainty still dominates. Spain is dragging its heels on a request for a bailout, Greece is now close to asking for a third bailout, Europe is reeling under austerity measures and officials in Washington still refuse to do their jobs as the US election approaches. The chatter and noise back in South Africa has been no less strident with 'Marikana-gate' highlighting the deeply rooted social and economic woes that continue to fester, but these sores are now on the surface as opposed to being conveniently covered with a loose-fitting plaster. The sensible counter to all of this uncertainty for investors has been to hide in high-quality 10-year government bonds, to also seek equity safe-haven status in the US equity market and locally to shun apparently attractively valued resource shares for the comfort of non-cyclical, defensive positions. The SA bond market has also been a haven for yield-starved investors. In another defensive strategy, global corporates have been hoarding cash on balance sheets, locally and offshore, since deploying that capital into this sea of policy uncertainty may turn out to be a poor business decision until more clarity emerges. Unfortunately we have to wait until after the US elections and until after the ANC's Mangaung conference for any hope of policy direction. Another wake-up call for South Africa has just arrived in the form of a Moody's downgrade of a number of local institutions and investment opportunities. Although not unexpected, this downgrade demands focus from our authorities and leaders. The current account deficit has widened significantly, and trade imbalances are persistent as we suffer the backlash from a reduced global demand for our goods and services. Our response will be closely watched, and so Finance Minister Gordhan's medium term budget speech later this month will be a litmus test for the government. The FTSE/JSE All Share Index returned 1.6% for the month of September, with Resources returning 5.7%, and Financials and Industrials returning 0.2% and 0.8%, respectively.
  • Fund focus and objective  
The investment objective of the portfolio is to provide investors with long-term capital. Income will be of secondary importance.
The portfolio will invest in assets in liquid form and in equity securities, across all economic groups and industry sectors of the JSE Securities Exchange South Africa as well as across the range of large, mid and smaller cap shares and such other financial instruments as may be permitted by prevailing regulations. The portfolio may also invest in preference shares and collective investment schemes in property as well as any other securities that the Act may allow from time to time. Apart from the above, the portfolio may also invest in participatory interests of portfolios of collective investment schemes registered in the Republic of South Africa or of participatory interests in collective investment schemes or other similar schemes operated in territories with a regulatory environment which is to the satisfaction of the manager and the trustee of a sufficient standard to provide investor protection which is at least equivalent to that in South Africa.
The portfolio may from time to time invest in financial instruments, in accordance with the provisions of the Act, and the Regulations thereto, as amended from time to time, in order to achieve the portfolio's investment objective. The manager may also include unlisted forward currency, interest rate and exchange rate swap transactions for efficient portfolio management purposes.
The Manager will be permitted to invest on behalf of the portfolio in offshore investments as legislation permits. Nothing in this Supplemental Deed shall preclude the manager from varying the ratios of securities or assets in liquid form in changing economic environment or market conditions, or to meet the requirements in terms of legislation and from retaining cash or placing cash on deposit in terms of the Deed and this Supplemental Deed.
The Trustee shall ensure that the investment policy set out in this Supplemental Deed is carried out.
For the purpose of this portfolio, the manager shall reserve the right to close the portfolio to new investors on a date determined by the manager. This will be done in order to be able to manage the portfolio in accordance with its mandate. The manager may, once a portfolio has been closed, open that portfolio again to new investors on a date determined by the manager.

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