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Manager's Commentary
BlueAlpha BCI Equity Fund  |  South African-Equity-General
2.3922    -0.0063    (-0.263%)
NAV price (ZAR) Wed 17 Sep 2025 (change prev day)


Asset Allocation: Quarterly Comparison
 
 
 

 

 

Change
Quarter Ended
Quarter Ended
RSA Equity
13.18% 
79.21% 
66.03% 
Int Equity
-8.08% 
15.55% 
23.63% 
RSA Bonds
-0.26% 
0.33% 
0.59% 
Int Bonds
0.00% 
0.00% 
0.00% 
RSA Real Estate
-0.32% 
0.56% 
0.88% 
Int Real Estate
0.00% 
0.00% 
0.00% 
RSA Cash
-1.14% 
3.34% 
4.48% 
Int Cash
-3.38% 
1.01% 
4.39% 
Asset Allocation: Two Year Quarterly History
Asset Class2Q 20251Q 20254Q 20243Q 20242Q 20241Q 20244Q 20233Q 2023
RSA Equity79.21%66.03%63.73%67.72%62.37%61.32%66.62%64.17%
Int Equity15.55%23.63%32.04%26.69%30.41%33.15%29.86%31.46%
Total Equity94.76%89.66%95.77%94.41%92.78%94.47%96.48%95.63%
RSA Bonds0.33%0.59%0.52%0.51%0.54%0.52%0.49%0.49%
Int Bonds--------
Total Bonds0.33%0.59%0.52%0.51%0.54%0.52%0.49%0.49%
RSA Real Estate0.56%0.88%0.94%1.02%0.98%0.99%0.03%0.03%
Int Real Estate--------
Total Real Estate0.56%0.88%0.94%1.02%0.98%0.99%0.03%0.03%
RSA Cash3.34%4.48%2.58%1.66%4.12%1.25%1.24%3.83%
Int Cash1.01%4.39%0.19%2.40%1.58%2.77%1.76%0.02%
Total Cash4.35%8.87%2.77%4.06%5.70%4.02%3.00%3.85%
Total100.00%100.00%100.00%100.00%100.00%100.00%100.00%100.00%
RSA Total83.44%71.98%67.77%70.91%68.01%64.08%68.38%68.52%
Int Total16.56%28.02%32.23%29.09%31.99%35.92%31.62%31.48%
Top Holdings: Quarterly Comparison
 
 
 

 

 

Change
Quarter Ended
Quarter Ended
CASH31.84% 35.65% 3.81% 
IMPLATS2.57% 2.57% 0.00% 
NASPERS-N-2.59% 5.22% 7.81% 
STANBANK-2.63% 2.82% 5.44% 
SHOPRIT-2.06% 1.48% 3.54% 
FUTURES M4.20% 4.49% 0.28% 
USA C-3.38% 1.01% 4.39% 
ANGGOLD-0.95% 2.52% 3.47% 
FIRSTRAND-2.86% 3.89% 6.75% 
GFIELDS-2.48% 3.68% 6.16% 
MARRIOTT0.88% 2.89% 2.01% 
MOMENTUM0.59% 2.54% 1.95% 
CAPITEC-2.11% 3.63% 5.74% 
PROSUS-1.15% 2.06% 3.20% 
Sectoral Allocation: Quarterly Comparison
 
 
 

 

 

Change
Quarter Ended
Quarter Ended
Banks
-7.59% 
10.34% 
17.93% 
Cash on call
36.05% 
40.14% 
4.09% 
Construction and Materials
-0.23% 
0.27% 
0.50% 
Cyclical Goods & Services
0.09% 
4.12% 
4.03% 
Exchange Traded Funds
-0.26% 
0.33% 
0.59% 
Financial Services
-0.38% 
0.78% 
1.16% 
Food Producers
-1.49% 
0.91% 
2.40% 
For Currency
-3.38% 
1.01% 
4.39% 
Goods & Services
-1.84% 
2.28% 
4.12% 
Healthcare
-1.82% 
1.90% 
3.72% 
Industrial Metals and Mining
-1.93% 
2.03% 
3.96% 
Life Insurance
0.57% 
3.45% 
2.88% 
Non-life Insurance
-0.82% 
1.32% 
2.14% 
Personal Care, Drug and Grocery Stores
-3.34% 
1.79% 
5.13% 
Personal Goods
-0.77% 
1.02% 
1.79% 
Precious Metals and Mining
-3.85% 
7.32% 
11.17% 
Real Estate Investment Trusts
-0.32% 
0.56% 
0.88% 
Retailers
-1.91% 
1.51% 
3.42% 
Software and Computer Services
-3.73% 
7.28% 
11.01% 
Technology
-3.14% 
4.76% 
7.90% 
Tobacco
-0.37% 
0.60% 
0.97%