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-0.97  /  -0.08%


NAV on 2021/09/17
NAV on 2021/09/16 1159.82
52 week high on 2021/08/19 1177.71
52 week low on 2020/11/02 1068.15
Total Expense Ratio on 2021/06/30 1.51
Total Expense Ratio (performance fee) on 2021/06/30 0
Incl Dividends
1 month change -1.21% -1.21%
3 month change 0.67% 1.28%
6 month change 1.24% 2.45%
1 year change 5.19% 7.42%
5 year change 1.69% 5.81%
10 year change 0% 0%
Price data is updated once a day.
Click and drag to zoom in on timeline.
  • Sectoral allocations
Bond Funds 30.50 13.88%
Derivatives 0.00 0.00%
Fixed Interest 38.37 17.46%
General Equity 21.26 9.68%
Liquid Assets 2.75 1.25%
Managed 26.84 12.22%
Money Market 7.99 3.64%
SA Bonds 33.70 15.34%
Spec Equity 14.43 6.57%
Offshore 43.86 19.96%
  • Top five holdings
PCMGLBCORE 41.83 19.04%
U-METHBON 30.50 13.88%
U-METHEPR 26.84 12.22%
U-CORSTRI 20.73 9.44%
U-INDIVIN 17.64 8.03%
  • Performance against peers
  • Fund data  
Management company:
Boutique Collective Investments (RF) (Pty) Ltd.
Formation date:
ISIN code:
Short name:
South African--Multi Asset--Low Equity
ASISA SA Multi Asset Low Equity Average



  • Fund management  
Methodical Investment Management

  • Fund manager's comment

Megafin Stable FoF comment - Jun 19

2019/09/04 00:00:00
Megafin SCI Stable Fund of Funds Portfolio Update Conservative investors generated decent returns during the second quarter of 2019. Income generating assets such as cash and bonds delivered decent outcomes during the quarter. Local equities contributed positively to portfolio performance, while global equity allocations faced a headwind from a stronger rand over the quarter.
The Megafin SCI Stable FoF’s returned 1.1% for the quarter and has generated a return of 4.8% 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 bonds, which make up the bulk of the Portfolio, drove performance over the quarter as yields moved lower across the globe in response to lower future expected interest rates. Local cash also contributed to the stable performance profile of the Portfolio, generating a positive return for end investors from this portion of the Portfolio. Local equity allocations generated decent returns for investors in line with the supportive global environment. A small allocation to global equities generated a decent return for investors in hard currencies, however, due to rand strength over the quarter these allocations did not contribute meaningfully to portfolio performance. Although it is not a significant allocation within the Portfolio, local listed property contributed positively to portfolio performance, this 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.
Coronation Strategic Income delivered decent performance in the second quarter of the year. Significant allocations to local corporate bonds drove returns over the quarter, in line with strong performance from global bond markets, as yields lowered in response to lower future expected interest rates.
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.
We are pleased that investors received a positive return from their portfolio during the second quarter of 2019. The diversified structure of the Portfolio contributed positively to outcomes, as all local asset classes generated decent returns. We will continue to follow a valuation-driven approach when allocating to different asset classes. This will allow the Portfolio to generate inflation-beating returns in a variety of market environments.
  • Fund focus and objective  
The Methodical BCI Stable Fund's objective is to generate long term capital growth and to generate income at moderate volatility levels. The portfolio has moderately conservative (cautious) risk qualities. The portfolio complies with prudential investment guidelines to the extent allowed for by the Act. However, to provide a limited level of capital protection, the portfolio's equity exposure may not exceed 40% 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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