First Avenue SCI Focused Quality Equity Fund
MANAGEMENT Fund Manager's Comment
Hlelo Giyose
FUND OBJECTIVES AND FOCUS

The objective of this portfolio is to provide investors with steady compounding of capital overtime through a concentration of holdings in companies of the highest quality. Growth of income is more important than level of income. The portfolio will invest in assets in liquid form and in shares across all economic groups and industry sectors of the JSE Securities Exchange South Africa as well as across the range of large, mid and smaller cap shares and such other financial instruments as may be permitted by the prevailing regulations. This will be a highly focused quality equity portfolio concentrating on a maximum of 20 securities of the highest quality. The portfolio may also invest in collective investment schemes in property as well as any other securities that the Act may allow from time to time. When investing in derivatives, the manager will adhere to the prevailing regulations.


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WEBGRAPH
RANKING
SectorSouth African-Equity-General
SizeR348,004,866
Sector Rank: 133 out of 137
(lump sum over 3 years to 31 July 2017)
Overall Rank: 1015 out of 1038
(lump sum over 3 years to 31 July 2019)
R1000 invested on 31 July 2016 was worth R 845 at 31 July 2019
( -5.45% annual compound return)
R100 per month since 31 July 2016 was worth R 3278 at 31 July 2019
( -6.15% annual return compounded monthly)
TECHNICAL OVERVIEW
Formation Date:19 AUG 1991 Holdings:33
Original Price:100 Pricing:Forward
Top Holdings on 31 July 2019
Share (Sector)No.Value% of Fund
MONDILTD (Forestry - Paper)47,58015,080,957 4.33 %
AB INBEV (Beverages)18,61123,185,212 6.66 %
TRUWTHS (General Retailers)211,47414,803,180 4.25 %
STANBANK (Banks)122,01323,996,297 6.90 %
LIFEHC (Health Care Equipment - Services)516,55811,591,562 3.33 %
BIDVEST (General Industrials)89,82117,007,606 4.89 %
CASH (Cash on call)02,697,605 0.78 %
NASPERS-N (Software - Computer Services)27,13992,802,353 26.67 %
VODACOM (Mobile Telecommunications)74,4888,913,979 2.56 %
TOTAL R210,078,75160.37%

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