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Manager's Commentary
Camissa Stable Fund  |  South African-Multi Asset-Low Equity
Reg Compliant
2.4181    +0.0095    (+0.394%)
NAV price (ZAR) Thu 5 Mar 2026 (change prev day)


Asset Allocation: Quarterly Comparison
 
 
 

 

 

Change
Quarter Ended
Quarter Ended
RSA Equity
2.81% 
22.66% 
19.85% 
Int Equity
3.21% 
15.99% 
12.78% 
RSA Bonds
0.27% 
52.99% 
52.72% 
Int Bonds
-3.42% 
0.00% 
3.42% 
RSA Real Estate
-2.14% 
2.40% 
4.54% 
Int Real Estate
-0.80% 
0.33% 
1.13% 
RSA Cash
1.83% 
4.73% 
2.90% 
Int Cash
-1.76% 
0.90% 
2.66% 
Asset Allocation: Two Year Quarterly History
Asset Class4Q 20253Q 20252Q 20251Q 20254Q 20243Q 20242Q 20241Q 2024
RSA Equity22.66%19.85%22.27%29.88%31.76%26.43%27.55%25.90%
Int Equity15.99%12.78%21.03%18.86%18.49%17.34%11.42%12.78%
Total Equity38.65%32.63%43.29%48.73%50.25%43.77%38.97%38.68%
RSA Bonds52.99%52.72%50.43%26.10%26.07%34.05%40.38%54.84%
Int Bonds-3.42%------
Total Bonds52.99%56.14%50.43%26.10%26.07%34.05%40.38%54.84%
RSA Real Estate2.40%4.54%3.26%3.59%3.89%3.68%4.53%4.62%
Int Real Estate0.33%1.13%0.21%0.12%0.13%0.12%0.55%0.60%
Total Real Estate2.73%5.67%3.47%3.72%4.02%3.80%5.08%5.22%
RSA Cash4.73%2.90%0.63%21.39%19.61%18.37%15.53%1.08%
Int Cash0.90%2.66%2.17%0.06%0.04%0.01%0.04%0.18%
Total Cash5.62%5.56%2.80%21.45%19.65%18.38%15.57%1.26%
Total100.00%100.00%100.00%100.00%100.00%100.00%100.00%100.00%
RSA Total82.78%80.01%76.59%80.96%81.34%82.53%87.99%86.44%
Int Total17.22%19.99%23.41%19.04%18.66%17.47%12.01%13.56%
Top Holdings: Quarterly Comparison
 
 
 

 

 

Change
Quarter Ended
Quarter Ended
VALTERRA-1.64% 0.52% 2.16% 
CASH2.26% 4.72% 2.46% 
MTN GROUP-0.45% 1.24% 1.69% 
BONDS0.72% 4.13% 3.42% 
USA C-1.48% 0.89% 2.37% 
EXXARO0.14% 1.21% 1.07% 
DIPULA B-2.14% 2.38% 4.53% 
Camissa Global Flexible0.50% 2.97% 2.47% 
R20324.17% 45.03% 40.86% 
R2040-2.98% 0.00% 2.98% 
KAGLBLEQUITY0.01% 11.66% 11.65% 
Camissa Global Equity Feeder - B1.39% 1.70% 0.31% 
BIHL EB0.08% 4.06% 3.98% 
Sectoral Allocation: Quarterly Comparison
 
 
 

 

 

Change
Quarter Ended
Quarter Ended
Automobiles and Parts
-0.05% 
0.06% 
0.11% 
Banks
0.18% 
0.63% 
0.45% 
Bond
4.16% 
52.74% 
48.58% 
Cash on call
2.04% 
4.72% 
2.68% 
Chemicals
0.11% 
1.38% 
1.27% 
Closed End Investments
-0.18% 
1.02% 
1.20% 
Construction and Materials
0.24% 
0.81% 
0.57% 
Derivatives
0.01% 
0.00% 
-0.01% 
Equities
0.01% 
11.66% 
11.65% 
Flexible
0.50% 
2.97% 
2.47% 
Food Producers
0.15% 
0.85% 
0.70% 
For Currency
-1.48% 
0.89% 
2.37% 
General Industrials
0.44% 
1.29% 
0.85% 
Industrial Metals and Mining
-0.64% 
1.18% 
1.82% 
Industrial Support Services
-0.04% 
0.18% 
0.22% 
International
1.39% 
1.70% 
0.31% 
Investment Banking and Brokerage Services
-0.36% 
5.36% 
5.72% 
Media
-0.09% 
0.37% 
0.46% 
Non-life Insurance
0.00% 
0.00% 
0.00% 
Oil, Gas and Coal
0.14% 
1.21% 
1.07% 
Precious Metals and Mining
-1.64% 
0.52% 
2.16% 
Preference Shares
-0.02% 
0.25% 
0.27% 
Real Estate Investment Trusts
-2.15% 
2.40% 
4.55% 
Retailers
0.16% 
0.70% 
0.54% 
Software and Computer Services
0.59% 
2.86% 
2.27% 
Telecommunications Service Providers
-0.45% 
1.24% 
1.69% 
Travel and Leisure
-0.18% 
1.20% 
1.38%