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Manager's Commentary
BlueAlpha BCI Equity Fund  |  South African-Equity-General
2.4487    +0.0069    (+0.283%)
NAV price (ZAR) Wed 5 Nov 2025 (change prev day)


Asset Allocation: Quarterly Comparison
 
 
 

 

 

Change
Quarter Ended
Quarter Ended
RSA Equity
-7.22% 
71.99% 
79.21% 
Int Equity
4.52% 
20.07% 
15.55% 
RSA Bonds
-0.33% 
0.00% 
0.33% 
Int Bonds
0.00% 
0.00% 
0.00% 
RSA Real Estate
0.11% 
0.67% 
0.56% 
Int Real Estate
0.00% 
0.00% 
0.00% 
RSA Cash
2.47% 
5.81% 
3.34% 
Int Cash
0.45% 
1.46% 
1.01% 
Asset Allocation: Two Year Quarterly History
Asset Class3Q 20252Q 20251Q 20254Q 20243Q 20242Q 20241Q 20244Q 2023
RSA Equity71.99%79.21%66.03%63.73%67.72%62.37%61.32%66.62%
Int Equity20.07%15.55%23.63%32.04%26.69%30.41%33.15%29.86%
Total Equity92.07%94.76%89.66%95.77%94.41%92.78%94.47%96.48%
RSA Bonds-0.33%0.59%0.52%0.51%0.54%0.52%0.49%
Int Bonds--------
Total Bonds-0.33%0.59%0.52%0.51%0.54%0.52%0.49%
RSA Real Estate0.67%0.56%0.88%0.94%1.02%0.98%0.99%0.03%
Int Real Estate--------
Total Real Estate0.67%0.56%0.88%0.94%1.02%0.98%0.99%0.03%
RSA Cash5.81%3.34%4.48%2.58%1.66%4.12%1.25%1.24%
Int Cash1.46%1.01%4.39%0.19%2.40%1.58%2.77%1.76%
Total Cash7.26%4.35%8.87%2.77%4.06%5.70%4.02%3.00%
Total100.00%100.00%100.00%100.00%100.00%100.00%100.00%100.00%
RSA Total78.47%83.44%71.98%67.77%70.91%68.01%64.08%68.38%
Int Total21.53%16.56%28.02%32.23%29.09%31.99%35.92%31.62%
Top Holdings: Quarterly Comparison
 
 
 

 

 

Change
Quarter Ended
Quarter Ended
CASH-29.85% 5.80% 35.65% 
IMPLATS1.00% 3.56% 2.57% 
NASPERS-N3.59% 8.81% 5.22% 
STANBANK1.52% 4.34% 2.82% 
FUTURES M-4.48% 0.00% 4.49% 
ANGGOLD2.47% 4.99% 2.52% 
FIRSTRAND1.89% 5.78% 3.89% 
GFIELDS5.74% 9.42% 3.68% 
BROADCOM0.98% 2.51% 1.53% 
MARRIOTT-2.89% 0.00% 2.89% 
MOMENTUM-1.64% 0.90% 2.54% 
CAPITEC1.62% 5.26% 3.63% 
PROSUS2.02% 4.08% 2.06% 
Sectoral Allocation: Quarterly Comparison
 
 
 

 

 

Change
Quarter Ended
Quarter Ended
Banks
5.04% 
15.38% 
10.34% 
Cash on call
-34.34% 
5.80% 
40.14% 
Construction and Materials
0.12% 
0.39% 
0.27% 
Cyclical Goods & Services
1.37% 
3.74% 
2.37% 
Exchange Traded Funds
0.23% 
0.56% 
0.33% 
Food Producers
1.09% 
2.00% 
0.91% 
For Currency
0.45% 
1.46% 
1.01% 
Goods & Services
0.76% 
1.88% 
1.12% 
Healthcare
0.25% 
1.43% 
1.18% 
Industrial Metals and Mining
1.17% 
3.20% 
2.03% 
Life Insurance
-0.17% 
3.28% 
3.45% 
Non-life Insurance
0.47% 
1.79% 
1.32% 
Personal Care, Drug and Grocery Stores
-0.34% 
2.58% 
2.92% 
Personal Goods
-0.30% 
0.72% 
1.02% 
Precious Metals and Mining
11.29% 
22.07% 
10.78% 
Real Estate Investment Trusts
0.11% 
0.67% 
0.56% 
Retailers
0.47% 
1.98% 
1.51% 
Software and Computer Services
5.61% 
12.89% 
7.28% 
Technology
2.01% 
6.77% 
4.76% 
Tobacco
0.34% 
0.94% 
0.60%