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2.12  /  0.87%


NAV on 2021/09/22
NAV on 2021/09/21 240.89
52 week high on 2021/08/17 251.08
52 week low on 2020/10/30 194.51
Total Expense Ratio on 2021/06/30 1.79
Total Expense Ratio (performance fee) on 2021/06/30 0
Incl Dividends
1 month change -2.55% -2.55%
3 month change 0.89% 2.59%
6 month change 2.04% 3.76%
1 year change 21.62% 25.02%
5 year change 5.37% 8.03%
10 year change 8.55% 10.6%
Price data is updated once a day.
Click and drag to zoom in on timeline.
  • Sectoral allocations
Bond Funds 131.93 14.31%
Fixed Interest 8.75 0.95%
General Equity 189.56 20.56%
Liquid Assets 0.34 0.04%
Real Estate 61.47 6.67%
Spec Equity 381.09 41.33%
Specialist Securities 149.03 16.16%
  • Top five holdings
U-CORRESO 99.51 10.79%
U-INVGLFA 92.80 10.06%
U-SATXDIV 82.45 8.94%
U-INVSAEQ 82.00 8.89%
U-PRUCOVA 80.43 8.72%
  • 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
60% FTSE JSE Swix J403T, 15% ALBI index, 10% FTSE JSE Listed Property J253T,5% JPM INT Bond Index, 10% MSCI World index



  • 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 Charter BCI Growth FoF coment - 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 with a value bias. By focusing on macro themes, the Fund looks to exploit valuation discrepancies in asset classes when they occur. The allocation to equities will be max 75%, with a neutral weighting of 65%.

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