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Merchant West SCI Cautious Fund  |  South African-Multi Asset-Low Equity
Reg Compliant
2.7566    +0.0146    (+0.532%)
NAV price (ZAR) Fri 12 Sep 2025 (change prev day)


Asset Allocation: Quarterly Comparison
 
 
 

 

 

Change
Quarter Ended
Quarter Ended
RSA Equity
4.03% 
17.83% 
13.81% 
Int Equity
-0.07% 
24.70% 
24.77% 
RSA Bonds
-0.13% 
46.98% 
47.10% 
Int Bonds
1.99% 
1.99% 
0.00% 
RSA Real Estate
-1.46% 
5.48% 
6.94% 
Int Real Estate
-0.78% 
2.18% 
2.96% 
RSA Cash
-2.72% 
0.57% 
3.29% 
Int Cash
-0.87% 
0.26% 
1.12% 
Asset Allocation: Two Year Quarterly History
Asset Class2Q 20251Q 20254Q 20243Q 20242Q 20241Q 20244Q 20233Q 2023
RSA Equity17.83%13.81%14.03%15.66%14.83%13.89%14.72%15.90%
Int Equity24.70%24.77%24.47%23.38%23.73%25.15%24.45%22.13%
Total Equity42.54%38.58%38.50%39.04%38.56%39.04%39.18%38.03%
RSA Bonds46.98%47.10%47.98%50.13%49.05%46.01%47.54%51.28%
Int Bonds1.99%----1.47%1.42%1.48%
Total Bonds48.97%47.10%47.98%50.13%49.05%47.48%48.96%52.76%
RSA Real Estate5.48%6.94%7.06%7.13%5.69%5.30%5.45%5.14%
Int Real Estate2.18%2.96%3.07%3.16%2.87%2.85%2.96%0.59%
Total Real Estate7.66%9.90%10.13%10.30%8.56%8.14%8.41%5.73%
RSA Cash0.57%3.29%3.01%-0.57%1.52%0.75%0.93%
Int Cash0.26%1.12%0.38%0.53%3.26%3.82%2.71%2.55%
Total Cash0.83%4.41%3.39%0.53%3.83%5.33%3.46%3.48%
Total100.00%100.00%100.00%100.00%100.00%100.00%100.00%100.00%
RSA Total70.86%71.14%72.08%72.92%70.14%66.71%68.46%73.25%
Int Total29.14%28.86%27.92%27.08%29.86%33.29%31.54%26.75%
Top Holdings: Quarterly Comparison
 
 
 

 

 

Change
Quarter Ended
Quarter Ended
NASPERS-N0.33% 2.50% 2.17% 
FOREIGNBO1.99% 1.99% 0.00% 
R2021.46% 7.38% 5.92% 
ABSABANK-P-2.54% 0.00% 2.54% 
R213-0.01% 2.62% 2.63% 
I2038-0.26% 5.82% 6.08% 
R2030-0.77% 4.93% 5.71% 
R20320.00% 2.70% 2.70% 
R20350.05% 7.35% 7.30% 
R20402.02% 12.53% 10.50% 
Merchant West Global Equity - B-0.39% 20.67% 21.06% 
SPEARREIT-1.36% 1.41% 2.77% 
Sectoral Allocation: Quarterly Comparison
 
 
 

 

 

Change
Quarter Ended
Quarter Ended
Banks
0.39% 
3.00% 
2.61% 
Bond
2.41% 
46.97% 
44.56% 
Cash on call
-0.82% 
0.57% 
1.39% 
Energy
-0.12% 
0.63% 
0.75% 
Equities
-0.10% 
0.36% 
0.46% 
Food Producers
0.08% 
0.54% 
0.46% 
For Currency
-0.37% 
0.10% 
0.47% 
Foreign Property
-0.76% 
2.19% 
2.95% 
General Industrials
0.08% 
0.62% 
0.54% 
Health Care Providers
0.00% 
0.24% 
0.24% 
Industrial Metals and Mining
0.17% 
1.92% 
1.75% 
Industrial Support Services
0.22% 
0.39% 
0.17% 
Life Insurance
0.01% 
0.52% 
0.51% 
Money Market
-1.89% 
0.01% 
1.90% 
Non-life Insurance
0.04% 
0.68% 
0.64% 
Offshore Intern
-0.39% 
20.67% 
21.06% 
Oil, Gas and Coal
-0.10% 
0.35% 
0.45% 
Precious Metals and Mining
0.21% 
2.61% 
2.40% 
Real Estate Investment Trusts
-1.46% 
5.48% 
6.94% 
Retailers
-0.02% 
0.73% 
0.75% 
Software and Computer Services
0.33% 
2.50% 
2.17% 
Technology
-0.08% 
1.67% 
1.75% 
Tobacco
0.15% 
1.27% 
1.12%