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  •  BCI UBAM MultiFunds Flexible Allocation Feeder Fund (A)

-2.87  /  -1.87%


NAV on 2021/09/22
NAV on 2021/09/21 156
52 week high on 2021/08/20 158.73
52 week low on 2020/12/23 138.37
Total Expense Ratio on 2021/06/30 0.84
Total Expense Ratio (performance fee) on 2021/06/30 0
Incl Dividends
1 month change -1.95% -1.95%
3 month change 2.99% 2.99%
6 month change 3.54% 3.54%
1 year change 3.2% 3.2%
5 year change 0% 0%
10 year change 0% 0%
Price data is updated once a day.
Click and drag to zoom in on timeline.
  • Sectoral allocations
Liquid Assets 0.91 0.23%
Offshore 390.36 99.77%
  • Top five holdings
UBAMFLEXA 390.36 99.77%
  • Performance against peers
  • Fund data  
Management company:
Boutique Collective Investments (RF) (Pty) Ltd.
Formation date:
ISIN code:
Short name:
Global--Multi Asset--Flexible
ASISA Global Multi Asset Flexible category average



  • Fund management  
Marcus Szemruk
Marcus Szemruk holds a BSC. In Banking and Finance from Loughborough University and holds the Securities Institute Certificate in Investement Management (CertIM). Marcus has worked in the financial services industry since 1999. Marcus joined ACPI in 2005 initially as a member of the Multi-Manager team researching external hedge fund strategies. From 2008 he has been additionally responsible for all external long-only manager research. He has been the portfolio manager of the ACPI Balanced UCITS Fund since December 2008. He previously worked at a London based fund of hedge funds and was an analyst at Philips and Drew and USB Global Asset Management.

  • Fund manager's comment

Anchor BCI ACPI Glbl Blncd Feeder comment - Sep 19

2019/10/16 00:00:00
Although markets recovered modestly from August’s decline in September, continued weakness in macroeconomic data and geopolitical newsflow meant the month ’s gains were capped and sentiment remained muted. Nevertheless, we witnessed a significant degree of rotation within equity markets with style factors coming heavily to the fore of market price action. Value and cyclically orientated equites recovered from their heavily oversold levels , whilst growth and defensive equities markedly underperformed as bond yields stepped moderately higher.
At end-September and during the early days of October, there were further signs that the world’s manufacturing sector is now firmly in a recession, with 78% of the global economy now contracting on a purchasing power parity (PPP) basis. The US gauge is even weaker than the rest of the world at 47.8 vs 48.8, respectively, which is perhaps ironic when looking at the performance of relative equity markets YTD. We have also seen signs of spill over into the all-important services side of the economy during the first week of October, with non-manufacturing gauges showing a marked deterioration from recent months.
In summary, we continue to steer the Balanced Fund’s porfolio towards generating an attractive rate of yield and fairly priced growth from across the equity and fixed income sensitivities of the portfolio, garnered from a broad array of global markets from which we consider investments. We are increasingly reliant on certain areas of the fixed income market to embed an attractive yield element to the aggregate portfolio.
  • Fund focus and objective  
The BCI UBAM Multifunds Flexible Allocation Feeder Fund aims to capture investment opportunities by investing in a diversified range of global asset classes through an underlying feeder portfolio. The portfolio will apart from assets in liquid form, invest solely in the participatory interests of the UBAM Multifunds Flexible Allocation, a subfund of UBAM, a variable investment company (“SICAV”), established under the laws of the Grand-Duchy of Luxembourg. The underlying portfolio invests in money market instruments, bonds as well as participatory interests of underlying portfolios of collective investment schemes or other similar schemes operated in territories with an equivalent regulatory supervision environment as the underlying portfolio.

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