• Core Equity Strategy

    Product Description
    Afena Capital Core Equity strategy is a general equity product that aims to provide investors with long-term growth in capital and income.

    The product is a benchmark-cognisant product and as such is actively managed relative to a client-specified benchmark.

    The product is designed to be a “pure” stock picking fund that is sector neutral. The fund’s performance relative to the benchmark is expected to be primarily driven by the value-biased share selection process. The sector neutral constraints minimises exposure to macroeconomic risks.

    Investments in the fund are made with a 3 to 5 year investment horizon.

    The fund aims to be as fully invested as possible by limiting cash levels to 1.0%.

    The strategy targets outperformance of the benchmark of 0.5% per annum with an average tracking error of 1.5%, both measured over a rolling 3 year period.

    Product Detail
    Fund Manager (s) Shoaib Vayej and Mila Mafanya
    Product Inception October 2013
    Investment Vehicle Segregated
    Investor Profile This product is suitable for clients that are looking for exposure to the SA equity market but with minimal deviations from the benchmark and therefore, the market performance.
    Risk Profile High
     
  • Moderate Equity Strategy

    Product Description
    Afena Capital Moderate Equity strategy is a general equity product that aims to provide investors with long-term growth in capital and income.

    The product is a benchmark-cognisant product and as such is actively managed relative to a client-specified benchmark. The benchmark cognizance is maintained in order to provide the fund with moderate beta to equity market returns.

    The product is designed to be a stock picking fund that is sector constrained. The fund’s performance relative to the benchmark is expected to be primarily driven by the value-biased share selection process. The sector constraints limit the fund’s exposure to unintended macroeconomic risks.

    Investments in the fund are made with a 3 to 5 year investment horizon.

    The fund aims to be as fully invested as possible by limiting cash levels to 1.0%

    The strategy targets outperformance of the benchmark of 1.0% per annum with an average tracking error of 3.0%, both measured over a rolling 3 year period.

    Product Detail
    Fund Manager (s) Mila Mafanya and Shoaib Vayej
    Product Inception September 2006
    Investment Vehicle Segregated and Pooled
    Investor Profile This product is suitable for clients looking for exposure to the SA equity market but with moderate deviations from the benchmark and therefore, the market performance.
    Risk Profile High
     
  • Unconstrained Equity Strategy

    Product Description

    The Afena Capital Unconstrained Equity strategy is a general equity product that aims to provide investors with long-term growth in capital and income.

    The product is non-benchmark-cognisant and as such is not managed relative to a client-specified benchmark. This strategy enables the manager to invest in the most attractive investment ideas, thereby avoiding concentration risk inherent in indices.

    The product is designed to be a ‘best ideas’ stock picking fund, through holding stocks where the manager has the highest conviction, and avoiding stocks which are not philosophically aligned. There are no relative sector limits, but the maximum stock holding is limited to 10%. The fund’s performance is expected to deviate significantly from the benchmark due to a higher level of active share. Although the fund is comprised of the best ideas on a risk-adjusted basis, the fund can be exposed to a number of macro-economic factors.

    Investments in the fund are made with a 3 to 5 year investment horizon.

    The fund aims to be as fully invested as possible, targeting cash levels between 1 - 3%.

    The strategy targets outperformance 2-3% with an average tracking error in excess of 6.0%, both measured over a rolling 3-5 year period.

    Product Detail
    Fund Manager (s) Zahira Osman and Mila Mafanya
    Product Inception July 2007
    Investment Vehicle Segregated
    Investor Profile This product is suitable for clients that are looking for exposure to the SA equity market in a non-benchmark cognisant portfolio constructed solely by valuation upside potential. Performance may therefore deviate significantly from the market.
    Risk Profile High