Nasdaq and S&P 500 see the biggest single-day gain in two weeks
Personalisations help boost record profits as global sales accelerate
Zama zamas are just a continuation of earlier generations of those who came to dig for gold
Millions of unregistered voters, along with disaffected ANC supporters, are ripe for the plucking — but opposition parties can't seem to capitalise on the opportunity
On paper, Anglogold's had the worst year among listed gold companies, but a ruthless handle on costs and a mine-by-mine review should start to pay off
It’s a big sequel: Cape Town returns to the film business, and even Tom Cruise came to town
A reader asks which is better: the government’s low-cost retail bonds, or a listed bond ETF?
Ross Fraser offers a compelling menu — eggs, bacon and Rassie
It’s time to talk about the safety of in-car tech that takes a driver's attention off the road
The traditional unit trust investor would look for a one-stop broad equity fund, and diligently pay monthly by debit order. But that is a very small portion of the market today.
Equity funds are now primarily used as “building blocks” by multimanagers and the more sophisticated financial advisers. These investors often blend three or four equity funds together, preferring funds which represent the top picks of each fund manager.
This month we look at these concentrated general equity funds, or, as their managers prefer to call them, focused, high-conviction funds.
They hold 20 to 25 shares, which is not as aggressive as it sounds: academics argue that a fund is sufficiently diversified with 16 to 18 shares.
A logical way to build an equity portfolio is what’s known as the core and satellite approach, which uses an index fund as the core.
Retail investors who want to invest in just one fund should be wary of choosing these funds, unless they are prepared to keep their proverbial certificates in a drawer for 25 or 30 years. These funds are more volatile than the traditional general equity funds offered by the likes of Investec, Old Mutual and even Allan Gray.
This month we look at five funds from very different houses, all of which can be described as concentrated. The JSE doesn’t have that many investable shares — to be generous, about 120 — so the names will often be the same. With the exception of Bridge, which has it own specific goals, all the funds hold Naspers. Steinhoff is another frequently occurring share. All these funds call themsel...
A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.
Already subscribed? Simply sign in below.
Questions or problems? Email email@example.com or call 0860 52 52 00. Got a subscription voucher? Redeem it now
Would you like to comment on this article? Register (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.