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Manager's Commentary
Camissa Balanced Fund  |  South African-Multi Asset-High Equity
Reg Compliant
3.0454    +0.0020    (+0.066%)
NAV price (ZAR) Thu 12 Mar 2026 (change prev day)


Asset Allocation: Quarterly Comparison
 
 
 

 

 

Change
Quarter Ended
Quarter Ended
RSA Equity
2.05% 
30.63% 
28.58% 
Int Equity
0.32% 
35.80% 
35.48% 
RSA Bonds
1.11% 
26.48% 
25.37% 
Int Bonds
-2.53% 
0.00% 
2.53% 
RSA Real Estate
0.56% 
1.86% 
1.30% 
Int Real Estate
-1.11% 
1.99% 
3.10% 
RSA Cash
0.51% 
2.27% 
1.76% 
Int Cash
-0.90% 
0.98% 
1.88% 
Asset Allocation: Two Year Quarterly History
Asset Class4Q 20253Q 20252Q 20251Q 20254Q 20243Q 20242Q 20241Q 2024
RSA Equity30.63%28.58%32.44%34.49%36.94%38.87%39.67%37.15%
Int Equity35.80%35.48%39.92%36.16%35.29%33.82%31.47%33.55%
Total Equity66.43%64.06%72.36%70.65%72.23%72.69%71.14%70.70%
RSA Bonds26.48%25.37%23.02%17.76%17.99%17.87%18.84%24.99%
Int Bonds-2.53%------
Total Bonds26.48%27.90%23.02%17.76%17.99%17.87%18.84%24.99%
RSA Real Estate1.86%1.30%1.28%1.37%1.44%1.39%1.42%1.46%
Int Real Estate1.99%3.10%1.19%1.49%1.41%1.25%1.51%1.57%
Total Real Estate3.85%4.40%2.47%2.86%2.85%2.64%2.93%3.03%
RSA Cash2.27%1.76%0.53%8.07%6.58%6.74%6.99%0.82%
Int Cash0.98%1.88%1.62%0.66%0.35%0.06%0.10%0.46%
Total Cash3.24%3.64%2.15%8.73%6.93%6.80%7.09%1.28%
Total100.00%100.00%100.00%100.00%100.00%100.00%100.00%100.00%
RSA Total61.24%57.01%57.26%61.69%62.95%64.87%66.92%64.42%
Int Total38.76%42.99%42.74%38.31%37.05%35.13%33.08%35.58%
Top Holdings: Quarterly Comparison
 
 
 

 

 

Change
Quarter Ended
Quarter Ended
VALTERRA-0.94% 3.33% 4.27% 
CASH0.97% 2.23% 1.25% 
MTN GROUP0.07% 2.21% 2.14% 
BONDS0.25% 2.78% 2.53% 
Camissa Global Flexible4.76% 18.79% 14.03% 
R20322.09% 15.93% 13.84% 
R2040-3.80% 3.06% 6.86% 
KAGLBLEQUITY-11.46% 9.46% 20.92% 
PROSUS-0.60% 2.97% 3.57% 
Camissa Global Equity Feeder - B5.33% 9.61% 4.28% 
NORTHAM-0.95% 0.95% 1.90% 
Sectoral Allocation: Quarterly Comparison
 
 
 

 

 

Change
Quarter Ended
Quarter Ended
Automobiles and Parts
-0.05% 
0.10% 
0.15% 
Banks
0.08% 
0.76% 
0.68% 
Bond
-0.88% 
26.42% 
27.30% 
Cash on call
0.84% 
2.23% 
1.39% 
Chemicals
0.25% 
1.79% 
1.54% 
Closed End Investments
0.02% 
0.24% 
0.22% 
Construction and Materials
-0.05% 
0.83% 
0.88% 
Consumer Services
-0.03% 
0.51% 
0.54% 
Derivatives
0.01% 
0.00% 
-0.01% 
Equities
-11.46% 
9.46% 
20.92% 
Flexible
4.76% 
18.79% 
14.03% 
Food Producers
0.12% 
0.77% 
0.65% 
For Currency
-0.07% 
0.94% 
1.01% 
General Equity
-0.12% 
0.00% 
0.12% 
General Industrials
0.02% 
0.48% 
0.46% 
Industrial Metals and Mining
-0.04% 
1.83% 
1.87% 
Industrial Support Services
-0.02% 
0.12% 
0.14% 
International
5.33% 
9.61% 
4.28% 
Investment Banking and Brokerage Services
0.15% 
3.12% 
2.97% 
Oil, Gas and Coal
0.27% 
1.76% 
1.49% 
Open End and Miscellaneous Investment Vehicles
0.00% 
0.00% 
0.00% 
Personal Care, Drug and Grocery Stores
-0.02% 
0.22% 
0.24% 
Pharmaceuticals and Biotechnology
-0.07% 
0.19% 
0.26% 
Precious Metals and Mining
-1.89% 
4.28% 
6.17% 
Preference Shares
0.00% 
0.07% 
0.07% 
Real Estate Investment Trusts
0.56% 
1.86% 
1.30% 
Retailers
-0.05% 
1.25% 
1.30% 
Software and Computer Services
0.98% 
6.75% 
5.77% 
Telecommunications Service Providers
0.07% 
2.21% 
2.14% 
Travel and Leisure
0.05% 
1.52% 
1.47%