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0.03  /  0.03%


NAV on 2021/09/17
NAV on 2021/09/16 111.72
52 week high on 2021/03/09 114.09
52 week low on 2020/10/30 106.53
Total Expense Ratio on 2021/06/30 1
Total Expense Ratio (performance fee) on 2021/06/30 0
Incl Dividends
1 month change -1.2% -1.2%
3 month change 1.24% 1.24%
6 month change -1.65% 2.79%
1 year change 4.01% 8.71%
5 year change 1.75% 7.05%
10 year change 0% 0%
Price data is updated once a day.
Click and drag to zoom in on timeline.
  • Sectoral allocations
Bond Funds 23.88 9.46%
Fixed Interest 133.57 52.90%
General Equity 37.17 14.72%
Managed 8.84 3.50%
Spec Equity 49.02 19.42%
  • Top five holdings
U-INDIVIN 66.19 26.22%
U-PSCINC 65.10 25.78%
U-ASBGBFL 35.18 13.93%
U-CORBOND 23.88 9.46%
U-INVSAEQ 12.33 4.88%
  • Performance against peers
  • Fund data  
Management company:
Prescient Management Company Ltd. (PIM)
Formation date:
ISIN code:
Short name:
South African--Multi Asset--Low Equity
South African Headline CPI + 2% net of fees



  • Fund management  
Assetbase International
James Downie

  • Fund manager's comment

Assetbase CPI+2% Prescient Comment - Dec 19

2020/02/24 00:00:00
With the end of the year dangerously imminent and major geo-political events left unresloved, Mr Trump and Mr Johnson managed to achieve at least paritial solutions to their respective challenges just before the firework displays occured on New Years's Eve. Mr Trump agreed on 'Phase 1'of the trade deal to avert further tariffs due for implementation in January 2020. It seems that the existing tariffs remain in place. Mr Johnson played a game of brinkmanship and managed to call a general election and to score a clear majority for the Conservatives in the UK Parliament, thanks, in part, to a thoroughly dismal showing by his cometitors. This allowed him to make good on his promise to leave the EU on 31 January 2020 thanks to a deal rushed through Westminster with his new majority. What remain foggy in the Brexit saga are the details of the exit deal and where it leaves Northern Ireland but there is some breathing space to work out the minutiae. Share markets surged in December on the back of the certainty created by the deals. The SP500 returned 31.5% for 2019, let by the Nasdaq at 37%, which in turn was led by Apple which went up 89% in the year. World Developed Markets were up about 25% with Emerging Markets and South Africa not so strong at 15% (in USD) and 12% respectively. In SA, Resources were the clear winners, up over 25%, with Industrials (11%) and Financials (1%) more muted. The Rand was actually stronger for the calendar year appreciating 2.5% with 5% apprectiation in December alone. And to cap the good news, and there is quite a bit of it, SA inflation is termporanily anchored below 4% according to the SARB statistics.
  • Fund focus and objective  
The Manager in selecting collective investment schemes for the portfolio will aim to generate positive returns over the short term while outperforming CPI + 2% over a three year rolling period. In order to achieve this objective the Assetbase CPI + 2% Prescient Fund of Funds will, apart from assets in liquid form, consist solely of participatory interest in collective schemes or similar schemes in equity, bond, money market and property markets which will be constructed within a conservative risk framework. The portfolio will have a conservative risk profile with a low exposure to equity as determined by legislation from time to time. The underlying collective investment schemes are permitted to invest in listed and unlisted financial instruments in line with conditions as determined by the Registrar from time to time. The portfolio will predominantly invest in South African markets, but is however permitted to include investments in offshore jurisdictions subject to the investment conditions determined by legislation from time to time.
The portfolio will be subject to the Prudential Investment Guidelines for South African Retirement Funds, being Regulation 28 of the Pension Funds Act, or such other legislation published from time to time.

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