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Anchor BCI Equity Fund
Benchmark: FTSE JSE Capped All Share J303T Index
Fund Manager
Peter Armitage
CEO & Co-Chief Investment Officer
CA (SA)
+27 11 591 0686
Peter started his career in global financial markets in 1994. He has worked as an analyst, head of research and chief investment officer at several of SA's top financial institutions, including Merrill Lynch, Deutsche Bank, Nedbank, and Investec Wealth & Investment. Peter has been rated the top investment analyst in the Financial Mail survey a record 21 times. He founded the Anchor Group in January 2012.
Investment Objective
The Anchor BCI Equity Fund is a high-conviction South African equity portfolio that aims to deliver superior long-term capital growth. The fund invests in a concentrated portfolio of 25-40 JSE-listed equities, selected through rigorous bottom-up fundamental analysis. The fund seeks to outperform the FTSE JSE Capped All Share Index over rolling 3-year periods.
Investment Philosophy
On capital, cash flows and pricing power. While acceptable valuation is an important component of the stock-selection process, the fund’s style is not Benchmark FTSE JSE Capped All Share J303T Index “value” – investments will be made in premium-rated stocks where the growth outlook and quality profile warrants it. The fund will also own shares that are often not well researched, yet offer exceptional valuation- . The quality of companies included is judged by rates Distributions Semi-annual , return on capital employed, cash conversion and 30 Jun/31 Dec stability of margins. The portfolio may, from time to time, invest in listed and unlisted financial instruments. The manager may include the following unlisted financial instruments: forward currency, interest rate and exchange-rate swap transactions for efficient portfolio management (PY): 1.19% purposes. The portfolio‘s equity exposure will always exceed 80% of the portfolio’s net asset value.
Fund Information
Risk Profile
Fund Performance
| Ann. p.a. | Since Inc. | 5 Year | 3 Year | 12 Month | 6 Month | 3 Month | MTD | |
|---|---|---|---|---|---|---|---|---|
| Fund | 11.5% | 308.1% | 14.0% | 18.6% | 30.6% | 13.8% | 7.0% | 1.3% |
| Benchmark | 12.0% | 333.4% | 18.5% | 22.4% | 53.1% | 27.3% | 16.1% | 7.2% |
Growth of R100 Since Inception
Hover over the chart to see fund and benchmark values at each point
- Fund
- Benchmark
Past performance is not indicative of future returns.
Performance Comparison (% p.a.)
- Fund
- Benchmark
Monthly Returns (%)
| Year | JAN | FEB | MAR | APR | MAY | JUN | JUL | AUG | SEP | OCT | NOV | DEC | YTD |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 2.30 | 1.30 | 3.60 | — | — | — | — | — | — | — | — | — | — |
| 2025 | 1.20 | 1.30 | 0.30 | 2.60 | 4.20 | 3.00 | 1.90 | 2.00 | 6.30 | 0.80 | -0.70 | 3.30 | 29.20 |
| 2024 | -0.70 | 1.10 | 1.80 | 2.80 | 0.90 | 1.90 | 1.40 | 1.60 | 4.40 | 0.10 | 1.90 | 0.90 | 19.60 |
| 2023 | 8.70 | -1.10 | -2.90 | 2.70 | -0.60 | 2.00 | 0.90 | -1.60 | -3.50 | -3.30 | 9.30 | 1.60 | 11.90 |
| 2022 | -2.20 | -1.50 | 1.00 | -1.90 | -0.70 | -5.00 | 3.90 | 0.30 | -5.80 | 2.70 | 7.10 | -2.10 | -4.70 |
| 2021 | 4.10 | 5.30 | 3.10 | 1.20 | 0.20 | -1.10 | 2.00 | 1.00 | -1.80 | 2.90 | 2.00 | 2.80 | 23.70 |
| 2020 | -0.90 | -7.70 | -19.50 | 14.40 | -0.60 | 7.80 | 3.50 | 1.70 | -4.20 | -3.20 | 8.40 | 3.40 | -1.20 |
| 2019 | 3.10 | 2.00 | 1.60 | 5.80 | -5.70 | 2.40 | -2.20 | -3.60 | 1.00 | 3.50 | -1.00 | 1.20 | 7.70 |
| 2018 | 0.00 | 0.60 | -3.60 | 3.70 | -3.00 | 1.50 | 0.30 | 2.70 | -3.20 | -5.90 | -1.10 | 0.50 | -7.70 |
| 2017 | 2.00 | -1.90 | 1.50 | 3.70 | 0.60 | -3.30 | 5.60 | 0.30 | -0.60 | 5.80 | 0.10 | -5.00 | 8.60 |
| 2016 | -5.60 | -1.80 | 4.50 | -2.00 | 4.90 | -4.90 | 0.00 | 0.60 | -2.00 | -2.90 | -0.80 | 0.60 | -9.50 |
| 2015 | 5.30 | — | — | — | — | — | — | — | — | — | — | — | — |
Top Holdings
Asset Allocation
Fund Manager Commentary
Important Information
Collective Investment Schemes in Securities (CIS) should be considered as medium to long-term investments. The value may go up as well as down and past performance is not necessarily a guide to future performance. CIS are traded at the ruling price and can engage in scrip lending and borrowing. A schedule of fees, charges and maximum commissions is available on request from the Manager. Commission and incentives may be paid and if so, would be included in the overall costs. A CIS may be closed to new investors in order for it to be managed more efficiently in accordance with its mandate. Performance has been calculated using net NAV to NAV numbers with income reinvested.