Page 171 - Profile's Unit Trusts & Collective Investments - September 2025

Fund manager interviews Chapter 9

capacity for creativity, resilience, innovation, adaptability and growth is unlimited, and a positive, and
open mindset will always yield the best investment results.
We are living through a period of rapid change and innovation. Long Beach’s role as a fund manager
is to look for opportunities, and we are confident in our ability to build focused portfolios which are
attractively priced and offer investors good potential for growth. While equity market corrections can
happen at any time, and for any number of reasons, investing with a negative bias seldom leads to
long term investment success.
Great companies are never static. The best ones use times of uncertainty to focus, innovate,
launch new products and services, and take market share. The Long Beach Managed Prescient
Fund’s 12-year track record through a number of volatile market periods demonstrates Long
Beach’s successful ability to look for and exploit the opportunities created during periods of market
uncertainty.

Which asset classes do you expect will give the best total rates of return over the next
few years?
Equities have historically delivered the best rates of return for patient investors. We see no reason
why this should change in the future. Exceptional companies can innovate, adapt, expand their
markets, launch new products and services, grow their earnings, and earn rates of return above their
cost-of-capital, more than compensating investors for risk.
Could you identify three shares that fall within your universe that you think will perform well
in the medium term?
The Long Beach Managed Prescient Fund’s top holdings include Richemont, Naspers, Cloudflare,
Shaftsbury, Adyen, Hammerson, Shopify and DoorDash.
Disclaimer:
Note on Performance: All performance figures are net of fees. Performance figures for periods
longer than one year have been annualised. Performance is calculated by Prescient Fund Services,
verified by Long Beach Capital, as of 30 June 2025. Long Beach Managed Prescient Fund: highest
rolling 1 year performance: fund +51.1%; benchmark +30.7%. Lowest rolling 1 year performance:
fund -25.3%; benchmark -10.5%. Latest 10-year annualised performance: fund 12.8%; benchmark
7.6%.
Long Beach Capital (Pty) Ltd is an authorised financial services provider (FSP no.22265).
Collective Investment Schemes in Securities (CIS) should be considered as medium to long-term
investments. The value may go up as well as down and past performance is not necessarily a guide to
future performance. CISs are traded at the ruling price and can engage in scrip lending and borrowing.
A schedule of fees, charges and maximum commissions is available on request from the Manager.
A CIS may be closed to new investors in order for it to be managed more efficiently in accordance
with its mandate. There is no guarantee in respect of capital or returns in a portfolio. Performance
has been calculated using net NAV to NAV numbers with income reinvested. The performance for
each period shown reflects the return for investors who have been fully invested for that period.
Individual investor performance may differ as a result of initial fees, the actual investment date, the
date of reinvestments and dividend withholding tax. Full performance calculations are available
from the manager on request. Prescient Management Company (RF) (Pty) Ltd is registered and
approved under the Collective Investment Schemes Control Act (No.45 of 2002). For any additional
information such as fund prices, fees, brochures, minimum disclosure documents and application
forms please go to www.longbeachcapital.co.za.
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