RCI BCI Flexible 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
SizeR169,253,445
Sector Rank: 44 out of 46
(lump sum over 3 years to 31 July 2019)
Overall Rank: 961 out of 1038
(lump sum over 3 years to 31 July 2019)
R1000 invested on 31 July 2016 was worth R 945 at 31 July 2019
( -1.87% annual compound return)
R100 per month since 31 July 2016 was worth R 3474 at 31 July 2019
( -2.32% annual return compounded monthly)
TECHNICAL OVERVIEW
Formation Date:10 NOV 2003 Holdings:48
Original Price:100 Pricing:Forward
Top Holdings on 31 July 2019
Share (Sector)No.Value% of Fund
ASTORIA (AltX)587,340998,478 0.59 %
BHP (Mining)19,7407,152,394 4.23 %
A-V-I (Food Producers)43,0363,970,501 2.35 %
DIS-CHEM (Food - Drug Retailers)283,8517,320,517 4.33 %
FUTURES M (Derivatives)03,684 0.00 %
STANBANK (Banks)28,0325,530,433 3.27 %
U-RMBMM (Money Market)119,228119,995 0.07 %
USA C (For Currency)02,076 0.00 %
ASPEN (Pharmaceuticals - Biotechnology)15,5071,555,662 0.92 %
BIDVEST (General Industrials)22,0674,241,057 2.51 %
CASH (Cash on call)021,418,525 12.65 %
NASPERS-N (Software - Computer Services)5,06617,251,199 10.19 %
MTN GROUP (Mobile Telecommunications)64,1316,893,441 4.07 %
TOTAL R76,457,96245.18%

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