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Manager's Commentary
Camissa Equity Alpha Fund  |  South African-Equity-General
17.3505    -0.0987    (-0.566%)
NAV price (ZAR) Wed 18 Mar 2026 (change prev day)


Asset Allocation: Quarterly Comparison
 
 
 

 

 

Change
Quarter Ended
Quarter Ended
RSA Equity
0.35% 
83.35% 
83.00% 
Int Equity
1.42% 
15.21% 
13.79% 
RSA Bonds
0.26% 
0.26% 
0.00% 
Int Bonds
0.00% 
0.00% 
0.00% 
RSA Real Estate
-1.13% 
0.01% 
1.14% 
Int Real Estate
-0.73% 
0.49% 
1.22% 
RSA Cash
0.19% 
0.67% 
0.48% 
Int Cash
-0.35% 
0.02% 
0.37% 
Asset Allocation: Two Year Quarterly History
Asset Class4Q 20253Q 20252Q 20251Q 20254Q 20243Q 20242Q 20241Q 2024
RSA Equity83.35%83.00%85.90%85.48%87.06%87.34%89.25%85.22%
Int Equity15.21%13.79%11.40%11.86%10.99%10.04%7.87%10.70%
Total Equity98.55%96.79%97.30%97.34%98.05%97.38%97.12%95.92%
RSA Bonds0.26%----0.43%0.65%0.69%
Int Bonds--------
Total Bonds0.26%----0.43%0.65%0.69%
RSA Real Estate0.01%1.14%1.32%1.43%1.47%1.35%1.74%1.69%
Int Real Estate0.49%1.22%0.87%0.50%0.44%0.37%0.37%0.51%
Total Real Estate0.50%2.36%2.19%1.93%1.91%1.72%2.11%2.20%
RSA Cash0.67%0.48%0.14%0.50%-0.08%0.46%0.09%1.09%
Int Cash0.02%0.37%0.37%0.23%0.12%0.01%0.03%0.10%
Total Cash0.69%0.85%0.51%0.73%0.04%0.47%0.12%1.19%
Total100.00%100.00%100.00%100.00%100.00%100.00%100.00%100.00%
RSA Total84.28%84.62%87.36%87.41%88.45%89.58%91.73%88.69%
Int Total15.72%15.38%12.64%12.59%11.55%10.42%8.27%11.31%
Top Holdings: Quarterly Comparison
 
 
 

 

 

Change
Quarter Ended
Quarter Ended
VALTERRA0.20% 10.80% 10.60% 
DATATEC-0.57% 3.33% 3.90% 
MTN GROUP-0.12% 6.61% 6.73% 
OMNIA0.20% 3.96% 3.77% 
BRAIT0.58% 3.55% 2.97% 
EXXARO0.31% 5.22% 4.90% 
Camissa Global Flexible0.14% 7.06% 6.93% 
GLENCORE-0.24% 5.09% 5.33% 
KAGLBLEQUITY0.12% 8.66% 8.55% 
PROSUS-3.17% 8.88% 12.05% 
BYTES2.47% 3.83% 1.36% 
NORTHAM-3.36% 3.11% 6.48% 
Sectoral Allocation: Quarterly Comparison
 
 
 

 

 

Change
Quarter Ended
Quarter Ended
Automobiles and Parts
-0.19% 
0.27% 
0.46% 
Banks
0.35% 
1.85% 
1.50% 
Cash on call
0.27% 
0.65% 
0.38% 
Chemicals
0.20% 
5.15% 
4.95% 
Closed End Investments
0.07% 
0.79% 
0.72% 
Construction and Materials
0.53% 
2.65% 
2.12% 
Equities
0.11% 
8.66% 
8.55% 
Flexible
0.13% 
7.06% 
6.93% 
Food Producers
0.30% 
1.94% 
1.64% 
For Currency
-0.01% 
0.00% 
0.01% 
General Industrials
0.00% 
1.75% 
1.75% 
Industrial Metals and Mining
-0.37% 
6.35% 
6.72% 
Industrial Support Services
-0.06% 
0.36% 
0.42% 
Investment Banking and Brokerage Services
0.28% 
6.66% 
6.38% 
Oil, Gas and Coal
0.32% 
5.22% 
4.90% 
Open End and Miscellaneous Investment Vehicles
0.15% 
0.15% 
0.00% 
Precious Metals and Mining
-3.17% 
13.91% 
17.08% 
Preference Shares
-0.01% 
0.26% 
0.27% 
Real Estate Investment Trusts
0.00% 
0.01% 
0.01% 
Retailers
1.08% 
2.69% 
1.61% 
Software and Computer Services
1.58% 
20.28% 
18.70% 
Telecommunications Service Providers
-0.12% 
6.61% 
6.73% 
Travel and Leisure
-0.04% 
4.38% 
4.42%