RCI BCI Flexible Managed Fund
MANAGEMENT Fund Manager's Comment
Alan McConnochie,
FUND OBJECTIVES AND FOCUS

The portfolio is managed with the aim of delivering positive returns over the medium term in excess of CPI plus 4%. We hope to achieve this by actively managing the asset allocation of the portfolio to reduce downside risk. The portfolio invests in a mix of shares listed on recognised exchanges, gilts and liquid assets. The bulk of the portfolio is invested in 20 to 30 shares picked from a pool of the 100 most marketable shares on the Johannesburg Securities Exchange. Up to 25% may be invested in offshore shares, the bulk of which will be in consumer related shares where the demand for their products is largely unaffected by economic conditions. The manager makes the investments decisions based on a combination of market behavioural analysis, fundamental analysis and quantitative analysis.


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WEBGRAPH
RANKING
SectorSouth African-Multi Asset-Flexible
SizeR160,215,572
Sector Rank: 26 out of 47
(lump sum over 3 years to 31 July 2017)
Overall Rank: 608 out of 818
(lump sum over 3 years to 31 July 2017)
R1000 invested on 31 July 2014 was worth R 1131 at 31 July 2017
( 4.19% annual compound return)
R100 per month since 31 July 2014 was worth R 3695 at 31 July 2017
( 1.68% annual return compounded monthly)
TECHNICAL OVERVIEW
Formation Date:10 NOV 2003 Holdings:48
Original Price:100 Pricing:Forward
Top Holdings on 31 July 2017
Share (Sector)No.Value% of Fund
ASTORIA (AltX)594,0356,373,996 3.98 %
ANGLO (Mining)20,2205,708,044 3.56 %
RICHEMONT (Personal Goods)61,2186,498,903 4.06 %
NASPERS-N (Media)7,28020,937,571 13.07 %
CORONAT (General Financial)71,4455,842,772 3.65 %
U-RMBMM (Money Market)194,081195,341 0.12 %
USA C (For Currency)07,563,917 4.72 %
CASH (Cash on call)03,928,241 2.45 %
U-RCIWWFL (International)30,77829,337 0.02 %
U-ITRISTO (Exchange Traded Funds)3,9502,692,526 1.68 %
ALVIVA (Technology Hardware - Equipment)133,7822,822,800 1.76 %
VODACOM (Mobile Telecommunications)10,2251,566,981 0.98 %
TOTAL R64,160,42940.05%

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