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Discovery Equity Fund Summary Fact Sheet
South African--Equity--General
 
Technical Overview
Formation Date: 5 Nov 2007
Holdings: 34
Original Price: 100
Pricing System: Forward
 
Price (A - Class)
 
Management
Grant Irvine-Smith, BSc Eng (Civil), MBA, CFA
Portfolio manager Grant focuses on the investment process, risk management and index products within Investec Asset Management's investment team. He is also the portfolio manager for the Investec Index Fund unit trust. Grant joined Investec Asset Management in 2000 where he spent a brief period on the dealing desk. Prior to that Grant worked for Murray & Roberts as section engineer on a complex bridge project, the first of its kind in South Africa. The project was recognised for Engineering Excellence by the Engineering Council of South Africa. Grant then contracted in London on various engineering projects, before returning to South Africa to study towards his Master of Business Administration (MBA) qualification. Grant graduated as a gold medallist from the University of Cape Town with an MBA in 1999. In addition he holds a Bachelor of Science (Engineering) (Civil) degree from the University of the Witwatersrand and is a Chartered Financial Analyst charter holder.
 
Terry Seaward
 
Ranking
Sector: South African-Equity-General
Fund Size: R2 050 268 719 (as at 31 Mar 2020)
Sector Rank: 20 out of 175
(lump sum over 1 years to 30 Jun 2020)
Overall Rank: 656 out of 1320
(lump sum over 1 years to 30 Jun 2020)
R1000 invested on 30 Jun 2019 was worth R1 031.64 on 30 Jun 2020 (3.16% annual compound return)
R100 per month since 30 Jun 2019 was worth R1 252.73 on 30 Jun 2020 (7.92% annual return compounded monthly)
 
Please note that domestic fund performance figures are calculated on a NAV-NAV basis including dividends reinvested on the reinvestment date, ETFs are reinvested on the ex-div date.
   
Focus and Objective
Investment Strategy The fund is biased in favour of value investment. The result of this approach is a relatively concentrated equity fund, comprising mostly of out-of-favour stocks. Consequently, the fund may behave very differently to the overall market with a defensive and above average yield. The fund may invest in all JSE listed companies as well as interest bearing securities, debenture stock, preference shares, liquid assets, participatory units in collective investment schemes and foreign investments. Fund Objective The fund will target returns in excess of the benchmark or peer group median, measured over rolling three-year periods, calculated on a total return basis with dividends reinvested. Investment Philosophy Stock prices do not always reflect the value of companies due to factors such as investor sentiment, the impact of news flow and other short-term considerations. The fund's contrarian approach focuses its research on exploiting these extremes. For example, the asset managers will assess which companies' intrinsic business values are higher than the price at which shares in that company can be purchased. This process combines a qualitative review of the business with the quantitative depth gained from the financial metrics.
 
Latest Fund Manager Comment / News
The Discovery Equity Fund is a collective investment scheme that aims to give investors  ...more
 
News Archive
Click here for complete news archive for this fund.
 
Top Holdings on 31 Mar 2020
Share No Units Value (Rm) % of Fund
O-IINVGST 658 703 295.05 14.39%
O-IINTEQU 603 213 264.06 12.88%
NASPERS-N 89 229 227.86 11.11%
ANGLO 566 007 172.22 8.40%
PROSUS 87 236 107.72 5.25%
Totals   1 066.91 52.04%
 
Comparative Performance
 
Portfolio Structure as at 31 Mar 2020
Click here for complete portfolio for this fund.
 
Dividend Data
Click here for Dividend History for this fund.
 
Fees and Charges
Click here for fees and charges for this fund.
 
Sectoral Information
Click here for Sectoral Information for this fund.
 


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