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
SizeR344,587,488
Sector Rank: 128 out of 133
(lump sum over 3 years to 31 July 2017)
Overall Rank: 960 out of 991
(lump sum over 3 years to 31 July 2017)
R1000 invested on 29 February 2016 was worth R 920 at 28 February 2019
( -2.75% annual compound return)
R100 per month since 29 February 2016 was worth R 3199 at 28 February 2019
( -7.78% annual return compounded monthly)
TECHNICAL OVERVIEW
Formation Date:19 AUG 1991 Holdings:33
Original Price:100 Pricing:Forward
Top Holdings on 31 July 2017
Share (Sector)No.Value% of Fund
MONDILTD (Forestry - Paper)47,58014,729,341 4.27 %
AB INBEV (Beverages)18,61117,791,558 5.16 %
NASPERS-N (Media)27,13978,493,316 22.78 %
FIRSTRAND (Banks)345,23122,633,344 6.57 %
LIFEHC (Health Care Equipment - Services)453,59711,974,961 3.48 %
BIDVEST (General Industrials)89,82118,579,474 5.39 %
CASH (Cash on call)030,301,628 8.79 %
VODACOM (Mobile Telecommunications)74,4889,832,416 2.85 %
TOTAL R204,336,03859.29%

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