Page 160 - Profile's Unit Trusts & Collective Investments - March 2026

Chapter 9 Fund manager interviews

Comment on the year ahead and, if possible, estimate the performance of your fund over 2 or
3 years. What are your targets and objectives for the year ahead?
Several recent trends look to be extended and close to turning points, which augers well for
the fund’s holdings and potential returns. Geopolitical risk has dominated headlines and market
positioning since Trump’s return to office in November 2024, with the US dollar weakening against
most major currencies, and gold rallying strongly. In January and February 2026, as the US built
up military assets in the Middle East, markets followed a similar playbook to what happened after
Russia’s invasion of Ukraine. Oil, gold and defensive sectors rallied, and growth equities sold off,
notwithstanding our portfolio companies reporting good Q4 results, on fears of higher inflation due
to a war with Iran, and AI-disruption of business models.
Growth is now on sale, the Long Beach Managed Prescient Fund’s portfolio companies are
aggressively embracing AI and integrating the technology into their products and services, and
business operations, and are likely to further entrench their economic moats, with attractive long-
term growth potential. The fund’s UK property holdings reported good results, with attractive rental
income growth, proactive asset management, and improving debt profiles. In short, we are positive
on the potential for the fund’s future returns.

Are equity markets in general overpriced? Do you anticipate a significant correction?
No, this is not our base case, it is more likely global equity markets have been held back by
geopolitical risk, and any resolution of the wars in the Middle East and Ukraine will be positive for
global equity markets. After a number of years of significant capital investment, AI driven productivity
growth is likely to start showing up in higher corporate profits, lower inflation and higher productivity
and economic growth, which is positive for global equity markets.

Which asset classes do you expect will give the best total rates of return over the next few
years?
Global Equities. The Long Beach Managed Prescient Fund holds a diversified portfolio of global
equities, across both the US, Europe and Emerging Markets. We look for exceptional and innovative
companies, which are well managed, and can grow both vertically and horizontally, as well as expand
geographically into new markets.

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 three equity holdings are Naspers, Richemont and
Cloudflare (as of 28 February 2026).
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Methodical BCI Global Dynamic Fund
Sector: Global–Multi Asset–Flexible Unit Trust
Awards
Portfolio managers: Charl Keet and Edo Brasecke 2026
WINNER
Benchmark: ASISA Global Multi Asset Flexible category average For performance to 31 December 2025
Returns to investors 1 year 3 years
Methodical BCI Global Dynamic Fund 18.07% 21.73%
Sector Average 3.75% 12.04%
Inflation (CPI) 3.60% 3.91%
ProfileData performance stats to 31 December 2025: CAGR with dividends reinvested

Describe your investment universe
The Methodical BCI Global Dynamic Fund invests exclusively in the US equity market. We focus
on the US for three key reasons:
„ Costs: The US is one of the most cost-efficient markets globally in terms of brokerage,
settlement, and execution, which helps preserve returns for investors.

158 Profile’s Unit Trusts & Collective Investments March 2026