Page 253 - Profile's Unit Trusts & Collective Investments - March 2025

Argon BCI Absolute Return Fund

Argon BCI Absolute Return Fund
Argon BCI Absolute Return Fund
Sector: South African—Multi Asset—
Low Equity HISTORICAL PERFORMANCE All figures to 31 December 2024
Fund benchmark: CPI + 4% p.a. R1 000 Lump Sum(NAV-NAV) R100 Per Month(NAV-NAV)
Code (A): AARFA Yrs Return Value Inflation Return Value Inflation Volatility
1 (A) 10.65% R1 107 R1 029 11.00% R1 274 R1 211 4.26
MANAGEMENT 3 (A) 7.29% R1 235 R1 160 8.70% R4 126 R3 821 5.20
5 (A) 7.16% R1 413 R1 266 8.26% R7 448 R6 751 5.95
Maitse Motsoane (BCom Honours
7 (A) 6.24% R1 528 R1 376 7.44% R11 048 R9 908 5.67
Investment Management, BCom Financial
Management Sciences) HISTORICAL DISTRIBUTIONS Actual payout (cents/unit) & 12-mnth historic yields
Maitse joined Argon Asset Management Period Ending End Price Feb Mar Jun Sep Dec 12-mnth DY%
in December 2016 as part of the Gradu- 31 Dec 24 (A) 113.76 - 1.47 1.65 1.46 1.19 5.08
ate Trainee Programme as a Trainee In- 31 Dec 23 (A) 108.58 - 1.20 1.28 1.61 1.38 5.03
vestment Analyst. He left as a Fixed
Income Analyst to join Prescient Invest- 31 Dec 22 (A) 105.96 - 0.94 0.70 1.49 0.93 3.83
ment Management as a Multi Asset Class 31 Dec 21 (A) 105.73 - 0.81 0.73 1.33 0.62 3.29
Portfolio Manager where he spent three 31 Dec 20 (A) 97.35 0.86 - 1.56 0.97 0.76 4.26
years. He re-joined the Multi Asset Class
Team at Argon in September 2021 and is Risk / Return Profile
currently the lead portfolio manager for 25
the Absolute Return product range.
FUND FOCUS
The Argon BCI Absolute Return Fund 3yr Compound return(%) 12
aims to provide investors with an abso-
lute real inflation beating total return
over any rolling 3-year period. 0
0 10 20
DETAILS as at 31 December 2024 Volatility p.a.
All fees and charges include Vat
PORTFOLIO ALLOCATION
Formation date: 14 Sep 2015
December 2024 June 2024
Min lump sum: R25 000
Sector Value (R000) % of Fund Value (R000) % of Fund Difference
Minimum monthly: R1 000 Basic Materials 11 814 5.26% 31 679 6.40% (1.13)%
Original price: 100 Energy 505 0.23% 1 201 0.24% (0.02)%
Broker p.a. com (A): 1.15% Consumer Discretionary 10 361 4.62% 17 512 3.54% 1.08%
Financials 21 625 9.63% 37 354 7.54% 2.09%
Annual fee (A): 1.32% Health Care 1 317 0.59% 4 034 0.81% (0.23)%
TER (A) 09/24: 1.44% Industrials 1 545 0.69% 4 797 0.97% (0.28)%
TER Perf% (A): 0.08% Real Estate 2 798 1.25% 3 696 0.75% 0.50%
5 886
2 876
Performance fee: (A) 20% excess Telecommunications 10 408 1.28% 21 478 1.19% 0.09%
4.34%
Technology
4.64%
0.30%
performance above CPI + 4% p.a, Specialist Securities 4 720 2.10% 6 983 1.41% 0.69%
calculated over a 1 year rolling period, Fixed Interest 44 0.02% 21 671 4.38% (4.36)%
capped at a maximum of 1.32% p.a. Other Regions 10 041 4.47% 28 943 5.84% (1.37)%
Fund value: R224.47m North America 4 219 1.88% 9 655 1.95% (0.07)%
USA 12 460 5.55% 8 152 1.65% 3.90%
Risk rating: Low - Medium SA Bonds 86 062 38.34% 148 504 29.99% 8.35%
PlexCrowns: Money Market 17 000 7.57% 52 905 10.68% (3.11)%
Income declaration: 31/03, 30/06, Derivatives (22) (0.01)% (0.01)%
30/09, 31/12 Liquid Assets 26 700 11.89% 90 733 18.32% (6.43)%
Income payment: 2nd day of TOTAL 224 473 100.00% 495 180 100.00% (54.67)%
Apr/Jul/Oct/Jan TOP HOLDINGS BY VALUE
December 2024 June 2024
Short Name/ Units Value %of Units Value %of
JSE Code Sector Name (000’s) (R ‘000) Fund (000’s) (R ‘000) Fund Difference
R2037 SA Bnds 19 170 16 964 7.56% 43 270 35 628 7.20% (24 100 000)
R2040 SA Bnds 18 600 16 558 7.38% 28 600 23 666 4.78% (10 000 000)
I2033 SA Bnds 9 100 11 624 5.18% 20 500 25 256 5.10% (11 400 000)
NASPERS-N IT 2 6 740 3.00% 4 13 868 2.80% (2 269)
IVC210 SA Bnds 6 400 6 517 2.90% 6 400 6 545 1.32% -
GLD SpecSec 10 4 720 2.10% 18 6 983 1.41% (7 270)
FIRSTRAND Financials 59 4 459 1.99% 109 8 287 1.67% (50 326)
TN27 SA Bnds 4 600 4 435 1.98% 4 600 4 352 0.88% -
ISH20USDTBETF Foreign 3 4 219 1.88% 6 9 655 1.95% (3 127)
PROSUS IT 5 3 668 1.63% 12 7 610 1.54% (6 829)
TOTAL 79 905 35.59% 141 849 28.65%
Price History Relative Strength to Consumer Price Index
120
1.5
114 1.3
108 1.1
102 0.9
96 0.7
90 0.5 17 | 18 | 19 | 20 | 21 | 22 | 23 | 24
17 | 18 | 19 | 20 | 21 | 22 | 23 | 24
Profile’s Unit Trusts & Collective Investments — DOMESTIC 251