Traditional Listed Products

Invest in Excellence with Pilanehurst Asset Managers

At Pilanehurst Asset Managers, our commitment to excellence, transparency, and client-centric strategies ensures that our clients receive the best possible outcomes across various market conditions.

Key Team Members

Name	Role	Qualification	Experience
Bongani Mbambiso	Chief Investment Officer	MSc in Mathematics of Finance, BSc Eng	> 16 years
Chris Botha	Senior Portfolio Manager	B. Com (Accounting), B. Com Hons (Investment Management), M. Com	> 30 years
Prince Nemutanzhela	Consultant Compliance Officer	LLM (Corporate Law), B. Com (Risk Management), PGD (Banking, Compliance, Risk Management, Investment Planning)	> 11 years

Product Summary

Fund	Benchmark	Investment Horizon	Equity Exposure
Pilanehurst Money Market Fund	STeFI	less than 12 months	Equity < 10%
Pilanehurst Bond Fund	JSE ALBI	7+ years	No
Pilanehurst Defensive Income Fund	CPI+2% (or ASISA SA Multi Asset Low Equity)	3-5 years	SA Equity 20-40%, Ex-SA Africa < 10%, Offshore < 30%
Pilanehurst Balanced Income Fund	CPI+4% (or ASISA SA Multi Asset Medium Equity)	5-7 years	SA Equity 40-60%, Ex-SA Africa < 10%, Offshore < 30%
Pilanehurst Aggressive Income Fund	CPI+6% (or ASISA SA Multi Asset High Equity)	7+ years	SA Equity 60-75%, Ex-SA Africa < 10%, Offshore < 30%
Pilanehurst General Equity Fund	JSE –ALSI / SWIX / CAPPI (or ASISA SA Equity General)	7+ years	SA Equity 60-75%, Ex-SA Africa < 10%, Offshore < 30%

Core Equity Fund(s)

Investment Objectives

Benchmark: FTSE JSE ALSI / Capped ALSI / SWIX / Capped SWIX / Top 40 Total Return Index.
Aim to create medium to long-term capital growth by outperforming the client’s equity Benchmark Total Return Index over different investment cycles.
Low-to-medium tracking error relative to the Benchmark Total Return Index.
Suitable for clients who seek broad-based exposure to the South African equity market and have a long-term investment horizon.

Investment Policy and Process

Actively managed, investing across large, mid, and smaller cap shares.
Invests in well-managed, high-quality businesses offering the best economic value according to valuation models.
Risk managed through disciplined portfolio construction and investment process.
Returns enhanced by low-risk arbitrage opportunities and low-cost trading techniques.

Flexi Bond Fund

Investment Objectives

To outperform the JSE All Bond Index (ALBI) over time.
Low-to-medium tracking error relative to the Benchmark Total Return Index.

Investment Policy and Process

Invests in high-quality capital instruments, including government bonds, quasi-government bonds, corporate bonds, cash deposits, and money market instruments, within Regulation 28 restrictions.
Actively managed composition reflecting macroeconomic outlook, interest rate cycle, business cycle, and credit factors.
Risk managed through disciplined portfolio construction and investment process, with diversification across the duration spectrum.
Returns generated using duration management, credit exposure, and risk management strategies, designed to provide downside protection.

Flexi Money Market Fund

Investment Objectives

To outperform the STeFI Call Index over time after fees.
To maintain capital stability and liquidity over short-term periods (typically 3 months).

Investment Policy and Process

Invests in high-quality SA money market instruments with a maturity of less than 13 months, within statutory Reg. 28 constraints.
Actively managed with low volatility and low probability of capital loss.
Limit of 120 days on the average maturity of investments, with a maximum weighted duration of 90 days.
Uses interest rate or duration views, credit instruments, and derivatives for yield enhancement and downside protection.
Option for investors to avoid exposure to non-banking corporates, focusing only on major SA banks and government-guaranteed instruments.

Flexi Defensive Income Fund

Investment Objectives

To return CPI + 2% per annum through a full interest rate cycle (typically rolling 3+ years) while protecting capital and maximizing income growth.
Reduced short-term volatility and long-term capital growth.
Suitable for clients seeking stable real returns and maximum income over a short-to-medium-term horizon (3-5 years).

Investment Policy and Process

Low equity exposure with a diverse combination of income-producing assets.
Investment universe includes equity securities (max 40%), property securities (max 25%), bonds, money market instruments, debentures, corporate debt, preference shares, convertible equities, and non-equity securities, with a focus on JSE listed equities.
Up to 30% offshore investment with an additional 10% in Africa (excluding SA), with potential investments in unlisted financial instruments, in line with Regulation 28.
Actively managed at security and asset class levels, focusing on capital growth and capital preservation.

Balanced Income Fund

Investment Objectives

To deliver CPI + 4% per annum over the medium term (typically rolling 5-7+ years) while preserving capital and offering downside protection over shorter terms (typically 1-year periods).
Medium-to-long-term capital growth with average volatility.
Suitable for long-term investors with moderate risk tolerance seeking consistent positive returns and stable growth.

Investment Policy and Process

Moderate equity exposure with longer duration bond exposure, and a diverse combination of income-producing assets.
Investment universe includes equity securities (max 60%), property securities (max 25%), bonds, money market instruments, debentures, corporate debt, preference shares, convertible equities, and non-equity securities, with a focus on JSE listed equities.
Up to 30% offshore investment with an additional 10% in Africa (excluding SA), with potential investments in unlisted financial instruments, in line with Regulation 28.
Actively managed at security and asset class levels, focusing on capital growth and capital preservation.

Aggressive Income Fund

Investment Objectives

To deliver CPI + 6% per annum through a full market cycle.
Increased short-term volatility aiming to maximize long-term capital growth.
Suitable for clients seeking significant real returns over the long term but with a cautious approach to short-term risks.

Investment Policy and Process

High equity exposure with longer duration bond exposure, and a diverse combination of income-producing assets.
Investments include cash, equity securities (max 75%), property securities (max 25%), bonds, money market instruments, debentures, corporate debt, preference shares, convertible equities, and non-equity securities.
Use of derivatives to reduce downside risk.
Active equity selection and asset allocation, with active currency exposure management.
Focus on JSE-listed equities.
Up to 30% offshore investment with an additional 10% in Africa (excluding SA), with potential investments in unlisted financial instruments, in line with Regulation 28.