Prudential Equity comment - Sep 14 - Fund Manager Comment24 Dec 2014
The FTSE/JSE All Share (ALSI) declined 2.6% on a total return basis in September 2014. Small Caps (-0.6%) outperformed Large Caps (-2.6%) and Mid Caps (-2.8%).
The best-performing sectors were Pharmaceuticals & Biotechnology (+8.7%), Beverages (+7.3%) and Real Estate Investment & Services (+4.4%). The worst were Gold
Mining (-17.5%), Industrial Metals (-13.6%) and Platinum Mining (-13.5%).
The Equity Fund realised a total return of -1.2% for the month. The key contributors to the Fund’s performance this month came from the positions in AVI Ltd (up 14.6%), IShares S&P 100 Index (up 6.1%) and British American Tobacco (up 1.8%). On the other hand, the detractors came from the positions in Naspers (down 7.9%), Lonmin (down 16.3%) and BHP Billiton (down 4.5%).
This brings the one year after fees performance of the Fund to 16.5%, outperforming its benchmark of 13.9% and the overall market total return of 15.4% (before fees).
Prudential Equity comment - Jun 14 - Fund Manager Comment28 Aug 2014
The FTSE/JSE All Share (ALSI) gained 2.8% on a total return basis in June 2014. Large Caps (3.0%) outperformed Mid Caps (1.7%) and Small Caps (-0.1%).
The best-performing sectors were Fixed Line Telecommunications (+18.1%), Technology, Hardware & Equipment (+16.5%) and Household Goods (+10.7%). The worst were Non-life insurance (-8.9%), Industrial Engineering (-8.4%) and Automobiles &Parts (-8.3%).
The Equity Fund realised a total return of 1.6% for the month. The key contributors to the Fund’s performance this month came from the positions in Sasol (up 6.2%), Naspers (up 7.3%) and BHP Billiton (up 4.1%). On the other hand, the detractors came from the positions in African Bank (down 19.2%), iShares STOXX Euro 600 Bank (down 4.1%) and Lonmin (down 7.3%).
This brings the one year after fees performance of the Fund to 29.2%, with the Fund outperforming its benchmark of 28.6% and marginally underperforming the overall market total return of 32.7% (before fees).
Prudential Equity comment - Mar 14 - Fund Manager Comment03 Jun 2014
The FTSE/JSE All Share (ALSI) gained 1.8% on a total return basis in March 2014. Mid Caps (3.9%) outperformed Small Caps (2.8%) and Large Caps (1.5%).
The best-performing sectors were Food and Drug Retailers (+13.1%), General Retailers (+12.9%) and Non-life Insurance (+12.9%). The worst were Technology Hardware and Equipment (-38.8%), Industrial Metals (-12.3%) and Media (-10.5%).
The Equity Fund realised a total return of 2.2% for the month. The key contributors to the Fund's performance this month came from the positions in MTN Group (up 12.9%), Sasol (up 7.8%) and Barclays Africa (up 15.9%). On the other hand, the detractors came from the positions in Lonmin (down 7.2%), BHP Billiton (down 3.3%) and Naspers (down 10.6%).
This brings the one year after fees performance of the Fund to 26.7%, with the Fund outperforming both its benchmark of 20.8% and the overall market total return of 23.6% (before fees).