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9.57  /  0.78%


NAV on 2021/09/22
NAV on 2021/09/21 1213.71
52 week high on 2021/08/19 1264.83
52 week low on 2020/11/02 1066.79
Total Expense Ratio on 2021/06/30 1.49
Total Expense Ratio (performance fee) on 2021/06/30 0
Incl Dividends
1 month change -1.81% -1.81%
3 month change 0.17% 1.22%
6 month change 0.42% 1.47%
1 year change 11.29% 13.06%
5 year change 3.42% 6.06%
10 year change 0% 0%
Price data is updated once a day.
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  • Sectoral allocations
Bond Funds 45.65 6.72%
Derivatives 0.00 0.00%
General Equity 324.60 47.77%
Liquid Assets 15.97 2.35%
Money Market 33.24 4.89%
Real Estate 20.83 3.06%
SA Bonds 85.73 12.61%
Spec Equity 1.61 0.24%
Offshore 151.94 22.36%
  • Top five holdings
PCMGLBCORE 126.78 18.66%
U-COSTOP5 96.23 14.16%
U-ACPEQPR 87.91 12.94%
U-FAIRTRE 72.44 10.66%
U-AYEQUTY 68.02 10.01%
  • Performance against peers
  • Fund data  
Management company:
Boutique Collective Investments (RF) (Pty) Ltd.
Formation date:
ISIN code:
Short name:
South African--Multi Asset--High Equity
ASISA SA Multi Asset High Equity category average



  • Fund management  
Methodical Investment Management

  • Fund manager's comment

Megafin Balanced FoF Comment - Jun 19

2019/09/04 00:00:00
Megafin SCI Balanced Fund of Funds Portfolio Update
Moderately aggressive investors received decent outcomes from portfolio allocations during the second quarter of 2019. The Portfolio managed to deliver positive performance in the second quarter, with year-to-date performance for 2019 remaining encouraging.
The Megafin Balanced FoF’s returned 1.1% for the quarter and has generated a return of 3.4% over the past year.
After disappointing performance in May, global equity markets finished the quarter strongly, largely on the back of comments from the major central banks that they would be willing to provide support in the form of lower interest rates and easing trade tensions between the U.S. and China.
Asset Allocation
Local equity allocations drove performance over the quarter in line with the supportive global environment. Within local equities, Financials contributed the most to performance, while Industrials and Resources also generated positive performance over the quarter. Local bonds contributed positively to performance as yields moved lower across the globe in response to lower future expected interest rates. While global equity allocations generated decent hard currency returns over the quarter, rand strength against major developed currencies meant that these allocations did not contribute meaningfully to portfolio performance. Within global equities, developed market equities outperformed emerging market equities, driven higher by U.S. equity markets which make up a significant portion of global equity indices. Local listed property contributed positively to portfolio performance, which was achieved despite the asset class facing headwinds in the South African environment.
Fund Selection
The contribution from fund selection was mixed over the quarter.
Nedgroup Core Bond delivered strong performance in the second quarter of 2019. The fund's significant allocation to South African government bonds drove performance as bond yields fell across the globe in expectation of lower future interest rates.
CoreShares S&P SA Top 50 was one of the best performing funds over the quarter. This is a passive fund that invests in the largest 50 companies on the JSE, however, they cap their weight to one share to 10% of the fund. The fund’s exposure to resources, especially the gold miners, was a solid contributor to performance over the quarter.
PSG Equity underperformed the market and its peers over the second quarter of 2019. The fund had a few stock specific detractors: Glencore (-16%), Imperial (-14%) and Japan Post Insurance (-16%). Large-cap shares continued to outperform the small and mid-cap shares over the quarter.
No changes were made to the portfolio composition during the quarter.
Investors received a positive return from the Portfolio during the second quarter of 2019. We would encourage clients to take a long-term view when employing capital. While allocations to local and global equities may be volatile in the short term, these allocations are necessary in order to generate returns in excess of inflation.
  • Fund focus and objective  
The Methodical BCI Balanced Fund's primary objective is to deliver long term capital growth with low income at volatility levels that reflect a moderate aggressive risk profile. The portfolio complies with prudential investment guidelines to the extent allowed for by the Act. Currently the maximum equity exposure per the prudential investment guidelines is limited to 75% of the portfolio's net asset value. In order to achieve its objective, the investments normally to be included in the portfolio may comprise a combination of assets in liquid form, money market instruments, interest bearing securities, bonds, debentures, corporate debt, equity securities, property securities, preference shares, convertible equities and non-equity securities.
The manager may invest in participatory interests or any other form of participation in portfolios of South African collective investment schemes as the Act may allow from time to time, and which are consistent with the portfolio's investment policy. The portfolio may from time to time invest in listed and unlisted 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 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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