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0.91  /  0.22%


NAV on 2021/09/17
NAV on 2021/09/16 420.69
52 week high on 2021/08/18 431.51
52 week low on 2020/10/30 355.55
Total Expense Ratio on 2021/06/30 1.37
Total Expense Ratio (performance fee) on 2021/06/30 0
Incl Dividends
1 month change -2.29% -2.29%
3 month change 0.68% 1.4%
6 month change 2.21% 2.95%
1 year change 14.93% 17.28%
5 year change 3.32% 5.36%
10 year change 0% 0%
Price data is updated once a day.
Click and drag to zoom in on timeline.
  • Sectoral allocations
General Equity 37.65 6.06%
Liquid Assets 0.85 0.14%
Managed 582.97 93.80%
Offshore 0.00 0.00%
  • Top five holdings
U-SBENCB 117.97 18.98%
U-INVOPPO 71.47 11.5%
U-NDCORDI 62.39 10.04%
U-EFFPRUD 56.76 9.13%
U-BALBLUA 53.73 8.65%
  • 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
CPI + 5% p.a.



  • Fund management  
Andrea Brand
Select Manager

  • Fund manager's comment

Select Manager Flexible Growth FoFcomment - Jun 07

2007/10/03 00:00:00
Global Market Overview Global equity markets displayed a significant degree of volatility during June, with few developed markets posting positive returns. This resulted in the MSCI AC World $ index losing 0.3% over the month. In contrast, some emerging markets posted very solid returns, such a Russia, which rose 6.6% assisted by the stronger oil price. The MSCI Emerging market $ index ended 4.4% higher for the month.
In the currency markets, the dollar ended lower against most major currencies. It lost 1.4% against the pound, closing above the 2 dollar-to-the-pound level. In the commodity markets, oil prices rose sharply whilst most precious metals closed slightly lower. Brent Crude ended 6.6% higher during the month, which brings the rise to 23.2% for the year-to-date.
Concerns about the health of the US economy eased over the past three months as incoming data pointed to a notably improved growth rate, this despite a still weak housing market. The rest of the world continues to grow strongly, with emerging Asia and the Euro-area leading the charge and growth forecasts still being revised upwards. Consequently, across the globe there is ongoing concern about inflation and central banks are still hiking interest rates. These include Australia, New Zealand, the UK and EU. Global interest rate risks remain skewed to the upside as growth is strong and underlying inflation risks have risen. However, we do not believe policymakers will tighten so aggressively as to risk a serious growth downturn in 2008.
Last month we noted that with real yields rising, one of the large positive drivers for equities is slowly diminishing, namely excess liquidity. This is not to say equity markets can't rally further. With earnings still solid, public participation in equity markets still relatively low and fair valuations, equity markets could likely continue its rally for longer. It is however important to note that early warning signs are starting to appear and even greater vigilance is necessary.
  • Fund focus and objective  
The portfolio is managed in compliance with prudential investment guidelines for retirement funds in South Africa to the extent allowed for by the Act and its equity exposure will be maximum 75% of its net asset value. Investments to be included in the portfolio will, apart from assets in liquid form, consists of participatory interests and other forms of participation of local and global collective investment schemes, or other similar schemes operated in territories with a regulatory environment which is to the satisfaction of the manager and trustee of a sufficient standard to provide investor protection at least equivalent to that in South Africa and which is consistent with the portfolio's primary objective, investing in equity securities, property securities, nonequity securities money market instruments, preference shares, listed and unlisted financial instruments, bonds and other interest bearing instruments and securities.

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