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August 2025
Adriaan Pask
PSG Wealth
European stocks closed sharply higher on Tuesday, reaching their strongest levels since March, as optimism grew that Washington talks could pave the way for an end to the war in Ukraine. The Eurozone’s STOXX 50 rose 0.90% to 5 486, the STOXX 600 gained 0.70% to 558 and Germany’s DAX added 0.50%. In London, the FTSE 100 edged up 0.40% to a record 9 194, supported by financials and miners.
Glencore and Rio Tinto benefitted from stronger copper prices, while JD Sports jumped more than 6% following a Deutsche Bank upgrade. By contrast, oil majors Shell and BP, along with defence contractors, weighed on the index.
Consumer discretionary stocks led the broader gains, with luxury groups LVMH and Kering rising around 3%, and carmakers Stellantis and Mercedes-Benz advancing over 2.50%. Mediobanca also rallied after receiving approval to acquire Banca Generali, a deal that will create Italy’s third-largest lender. Meanwhile, defence companies including Rheinmetall, BAE Systems and Thales fell more than 4% as peace hopes weighed on the sector.
The White House meeting, hailed by Ukraine’s President Zelensky as his most constructive yet with US President Donald Trump, bolstered hopes of security guarantees and a potential ceasefire.
In the US, however, Europe’s upbeat momentum failed to carry over as stocks pulled back on Tuesday as weakness in major technology names weighed on Wall Street. The S&P 500 fell 0.60% and the Nasdaq slid more than 1%, dragged down by sharp losses in chipmakers, while the Dow Jones retreated after briefly touching a record high earlier in the session. Nvidia fell 2.70%, AMD dropped 4.90% and Broadcom lost 3.70%, with Palantir tumbling 9% to become the S&P 500’s worst performer.
In contrast, Home Depot rose over 3% despite missing earnings estimates, as investors welcomed signs of stabilising demand in the housing market. Intel surged 8.70% following SoftBank’s announcement of a $2 billion investment, bolstering confidence in the company’s turnaround efforts. Attention is now turning to the Federal Reserve’s annual Jackson Hole symposium, where Chair Jerome Powell’s speech on Friday is expected to provide guidance on the September policy meeting and the potential for interest rate cuts.
Asian markets were largely subdued as Japan’s Nikkei 225 fell 0.38% to 43 546.29, after briefly touching a record high of 43 876.42 earlier in the session. Hong Kong’s Hang Seng Index declined 0.09% to 25 154.01, weighed down by losses in the technology and financial sectors. China’s Shanghai Composite slipped 0.01% amid cautious trading. Overall, sentiment across the region remained cautious, with key indices in Japan, Hong Kong and China edging lower.
South Africa’s 10-year government bond yield has held within a narrow 9.60%–9.70% range since late July, reflecting modest global movements as investors assess economic, monetary and geopolitical developments. Focus remains on the upcoming Federal Reserve Jackson Hole Symposium for guidance on US interest rates, alongside domestic inflation data, while uncertainty persists over the 30% US tariff on South African exports. At 19h35 SAST, the rand strengthened slightly to 17.67 against the US dollar. The All Share Index rose 0.05%, whereas the Top 40 slipped 0.05%, with the JSE Metals and Mining Index down 1.70%.
Commodity markets retreated on Tuesday, with Brent crude closing at $65.68 a barrel, down 1.38%, and WTI crude falling below $63 as traders weighed the prospects of a Russia–Ukraine meeting. Oil prices have already dropped more than 10% this month amid trade tensions and rising OPEC+ output. Gold also slipped 0.38%, closing at $3 317.44 an ounce.
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Date | Index | Current Level | 1 Day Move | 1 Month Move | 6 Month Move | 1 Year Move |
---|---|---|---|---|---|---|
2025-08-20 | ALSI | 101196.15 | 0.05 | 2.60 | 16.64 | 24.94 |
2025-08-20 | Basic minerals | 60144.41 | -1.04 | 4.73 | 38.01 | 40.07 |
2025-08-20 | Fin + Ind 30 | 13119.10 | 0.41 | 2.02 | 11.44 | 21.08 |
2025-08-20 | Financial | 53971.74 | 0.35 | 1.73 | 10.90 | 12.79 |
2025-08-20 | Industrial index | 149365.51 | 0.45 | 1.89 | 11.38 | 26.83 |
Some data may be delayed, the above table reflects the latest information available from Morningstar.
Please note performance reported during the first week of each month may be impacted by distributions. Distributions are fully accounted for by the second week of each month.
Morningstar Category | Fund name | NAV (Rands) at 18 Aug 2025 | Performance –As at 2025/07/31 | |||
---|---|---|---|---|---|---|
1 year % | 3 year % | 5 year % | Inception % | |||
South African - Multi Asset - Low Equity | PSG Investment Management Cautious Fund of Funds Class D | 1.52 | 15.40 | 12.55 | 13.88 | 11.55 |
PSG Investment Management Cautious Fund of Funds Class D | 1.52 | 15.40 | 12.55 | 13.88 | 11.55 | |
PSG Stable Fund Class A | 1.87 | 13.46 | 12.12 | 13.43 | 8.91 | |
PSG Stable Fund Class E | 1.88 | 14.11 | 12.77 | 14.08 | 8.84 | |
PSG Wealth Preserver Fund of Funds Class D | 28.27 | 14.60 | 12.16 | 11.00 | 9.49 | |
South African - Multi Asset - High Equity | PSG Balanced Fund Class A | 115.85 | 17.94 | 16.88 | 20.03 | 13.08 |
PSG Balanced Fund Class A | 115.85 | 17.94 | 16.88 | 20.03 | 13.08 | |
PSG Balanced Fund Class E | 116.18 | 18.61 | 17.56 | 20.72 | 10.82 | |
PSG Investment Management Growth Fund of Funds Class D | 1.92 | 20.81 | 16.00 | 18.99 | 14.60 | |
PSG Wealth Moderate Fund of Funds Class D | 49.33 | 18.74 | 14.61 | 13.95 | 11.29 | |
South African - Multi Asset - Income | PSG Diversified Income Fund Class A | 1.40 | 11.61 | 10.20 | 9.48 | 8.14 |
PSG Diversified Income Fund Class A | 1.40 | 11.61 | 10.20 | 9.48 | 8.14 | |
PSG Diversified Income Fund Class E | 1.40 | 12.32 | 10.90 | 10.10 | 8.80 | |
PSG Investment Management Multi-Asset Income Fund of Funds Class D | 1.20 | 10.92 | 9.55 | 8.93 | 8.53 | |
PSG Wealth Income Fund of Funds Class D | 12.93 | 10.17 | 9.63 | 8.42 | 8.07 | |
South African - Equity - General | PSG Equity Fund Class A | 20.54 | 18.12 | 18.43 | 22.64 | 13.18 |
PSG Equity Fund Class A | 20.54 | 18.12 | 18.43 | 22.64 | 13.18 | |
PSG Equity Fund Class E | 20.65 | 18.73 | 17.93 | 22.46 | 10.12 | |
PSG Equity Fund Class F | 20.63 | 18.66 | 18.97 | 23.18 | 11.02 | |
PSG Investment Management Opportunity Equity Fund of Funds Class D | 1.38 | — | — | — | — | |
PSG Wealth Creator Fund of Funds Class D | 66.60 | 20.94 | 15.46 | 16.90 | 12.70 | |
South African - Equity - SA General | PSG SA Equity Class F | 2.12 | 25.38 | 19.74 | 25.25 | 9.51 |
PSG SA Equity Class F | 2.12 | 25.38 | 19.74 | 25.25 | 9.51 | |
South African - Interest Bearing - SA Money Market | PSG Money Market Fund Class A | 1.00 | 7.68 | 7.70 | 6.14 | 7.94 |
PSG Money Market Fund Class A | 1.00 | 7.68 | 7.70 | 6.14 | 7.94 | |
PSG Money Market Fund Class F | 1.00 | 7.99 | 8.01 | 6.42 | 5.59 | |
South African - Interest Bearing - Short Term | PSG Income Fund Class A | 1.11 | 9.71 | 8.67 | 7.47 | 7.36 |
PSG Income Fund Class A | 1.11 | 9.71 | 8.67 | 7.47 | 7.36 | |
PSG Income Fund Class E | 1.11 | 10.03 | 8.98 | 7.78 | 8.03 | |
PSG Wealth Enhanced Interest Fund of Funds Class D | 1.02 | 8.53 | 8.48 | 6.85 | 6.91 | |
South African - Interest Bearing - Variable Term | PSG Bond Fund Class A | 1.07 | — | — | — | — |
PSG Bond Fund Class A | 1.07 | — | — | — | — | |
South African - Multi Asset - Flexible | PSG Flexible Fund Class A | 9.57 | 15.72 | 16.42 | 20.65 | 11.57 |
PSG Flexible Fund Class A | 9.57 | 15.72 | 16.42 | 20.65 | 11.57 | |
PSG Flexible Fund Class E | 9.58 | 16.03 | 16.73 | 20.96 | 10.97 |
Performance data on local funds is shown up to the last market close minus 1 day.
Some data may be delayed, the above table reflects the latest information available from Morningstar.
Please note performance reported during the first week of each month may be impacted by distributions. Distributions are fully accounted for by the second week of each month.
Through our tried-and tested investment philosophy, we have built competitive global solutions to help clients achieve their investment goals.
The following funds are rand-denominated, but invest internationally:
Morningstar Category | Fund name | NAV (Rands) at 19 Aug 2025 | Performance –As at 2025/07/31 | |||
---|---|---|---|---|---|---|
1 year % | 3 year % | 5 year % | Inception % | |||
Global - Equity - General | PSG Global Equity Feeder Fund Class A | 5.36 | 15.19 | 16.87 | 19.25 | 12.67 |
PSG Global Equity Feeder Fund Class A | 5.36 | 15.19 | 16.87 | 19.25 | 12.67 | |
PSG Global Equity Feeder Fund Class E | 5.58 | 15.85 | 17.55 | 19.78 | 12.42 | |
PSG Wealth Global Creator Feeder Fund Class D | 5.11 | 12.38 | 16.92 | 11.43 | 14.72 | |
Global - Multi Asset - Flexible | PSG Global Flexible Feeder Fund Class A | 4.08 | 13.23 | 15.13 | 16.20 | 12.28 |
PSG Global Flexible Feeder Fund Class A | 4.08 | 13.23 | 15.13 | 16.20 | 12.28 | |
PSG Global Flexible Feeder Fund Class B | 4.32 | 13.89 | 15.79 | 16.71 | 12.80 | |
PSG Wealth Global Flexible Feeder Fund Class D | 5.23 | 10.48 | 11.02 | 6.69 | 10.90 | |
PSG Wealth Global Moderate Feeder Fund Class D | 5.36 | 10.25 | 11.81 | 7.50 | 12.12 | |
Global - Multi Asset - Low Equity | PSG Wealth Global Preserver Feeder Fund Class D | 1.61 | 6.35 | 9.34 | 5.07 | 6.75 |
PSG Wealth Global Preserver Feeder Fund Class D | 1.61 | 6.35 | 9.34 | 5.07 | 6.75 |
Performance data on offshore funds is shown up to the last market close minus 2 days.
Some data may be delayed, the above table reflects the latest information available from Morningstar.
Please note performance reported during the first week of each month may be impacted by distributions. Distributions are fully accounted for by the second week of each month.
The following funds invest internationally using foreign currency
Morningstar Category | Fund name | NAV (Rands) at 18 Aug 2025 | Performance –As at 2025/07/31 | |||
---|---|---|---|---|---|---|
1 year % | 3 year % | 5 year % | Inception % | |||
EAA Fund GBP Cautious Allocation | PSG Wealth Global Preserver FoF (GBP) Class D | 2.12 | 3.21 | 3.01 | 2.98 | 4.84 |
PSG Wealth Global Preserver FoF (GBP) Class D | 2.12 | 3.21 | 3.01 | 2.98 | 4.84 | |
EAA Fund GBP Flexible Allocation | PSG Wealth Global Flexible FoF (GBP) Class D | 4.07 | 7.31 | 5.08 | 5.31 | 9.12 |
PSG Wealth Global Flexible FoF (GBP) Class D | 4.07 | 7.31 | 5.08 | 5.31 | 9.12 | |
EAA Fund Global Flex-Cap Equity | PSG Global Equity Sub-Fund Class A | 2.60 | 12.37 | 12.54 | 17.71 | 6.37 |
PSG Global Equity Sub-Fund Class A | 2.60 | 12.37 | 12.54 | 17.71 | 6.37 | |
PSG Global Equity Sub-Fund Class B | 2.71 | 12.94 | 13.17 | 18.33 | 8.03 | |
EAA Fund Global Large-Cap Blend Equity | PSG Wealth Global Creator Fund of Funds Class D | 3.35 | 11.33 | 12.65 | 9.67 | 9.84 |
PSG Wealth Global Creator Fund of Funds Class D | 3.35 | 11.33 | 12.65 | 9.67 | 9.84 | |
EAA Fund USD Cautious Allocation | PSG Wealth Global Preserver FoF (USD) Class D | 1.84 | 6.57 | 5.76 | 3.54 | 3.81 |
PSG Wealth Global Preserver FoF (USD) Class D | 1.84 | 6.57 | 5.76 | 3.54 | 3.81 | |
EAA Fund USD Flexible Allocation | PSG Global Flexible Sub-Fund Class A | 22.13 | 10.91 | 11.00 | 15.00 | 6.29 |
PSG Global Flexible Sub-Fund Class A | 22.13 | 10.91 | 11.00 | 15.00 | 6.29 | |
PSG Global Flexible Sub-Fund Class B | 23.59 | 11.41 | 11.51 | 15.45 | 6.91 | |
PSG Investment Management Global Flexible Fund of Funds (Dollar) | 1.79 | 9.08 | 5.83 | 3.45 | 3.05 | |
PSG Wealth Global Flexible FoF (USD) Class D | 3.50 | 9.95 | 7.25 | 5.17 | 8.00 | |
EAA Fund USD Moderate Allocation | PSG Wealth Global Moderate Fund of Funds Class D | 2.31 | 9.30 | 7.82 | 5.82 | 5.62 |
PSG Wealth Global Moderate Fund of Funds Class D | 2.31 | 9.30 | 7.82 | 5.82 | 5.62 |
Performance data on offshore funds is shown up to the last market close minus 2 days.
Some data may be delayed, the above table reflects the latest information available from Morningstar.
Please note performance reported during the first week of each month may be impacted by distributions. Distributions are fully accounted for by the second week of each month.
Fund display name | Performance –As at 2025/08/20 | |||
---|---|---|---|---|
1 year % | 3 year % | 5 year % | Inception % | |
PSG Wealth Income Growth Equity Portfolio | 12.82 | 11.23 | 11.76 | — |
PSG Wealth Offshore Equity Portfolio (USD) | 11.30 | 9.87 | 9.54 | — |
PSG Wealth SA Equity Portfolio | 23.27 | 11.16 | 11.36 | — |
PSG Wealth SA Property Equity Portfolio | 24.50 | 18.54 | 20.37 | — |
* PSG Wealth equity portfolio performance are shown gross of management fees, but net of brokerage and other trading costs.
The House view portfolios are bespoke solution portfolios and not part of the Collective Investment Schemes’ portfolios.
Date | Company | Share code | Expectation |
---|---|---|---|
27 August 2025 | AECI Limited | AFE | Cash dividend |
27 August 2025 | Alphamin Resources Corp | APH | Cash dividend |
27 August 2025 | AFRICAN RAINBOW CAP INVESTMENTS LTD | ARC | Tender offer |
27 August 2025 | Argent Industrial Limited | ART | Cash dividend |
27 August 2025 | Glencor Plc | GLN | Share premium distribution |
27 August 2025 | Mpact Limited | MPT | Cash dividend |
27 August 2025 | NEWWAVE EURO EXCHANGE TRADED NOTES | NEWEUR | Interest payment |
27 August 2025 | NEWWAVE GBP EXCHANGE TRADED NOTES | NEWGBP | Interest payment |
27 August 2025 | NEWWAVE USD EXCHANGE TRADED NOTES | NEWUSD | Interest payment |
27 August 2025 | Quilter Plc | QLT | Cash dividend |
27 August 2025 | Weaver Fintech Ltd | WVR | Cash dividend |
The information above is to the best of our knowledge correct.
The Corporate Actions are updated weekly.
Collective Investment Schemes in Securities (CIS) are generally medium-term to long-term investments. The value of participatory interests (units) may go down as well as up and past performance is not a guide to future performance. Collective Investment Schemes are traded at ruling prices and can engage in borrowing and scrip lending. A schedule of fees and charges and maximum commissions is available on request from PSG Collective Investments (RF) Limited. Commission and incentives may be paid, and if so, are included in the overall costs. Forward pricing is used. The Portfolios may be capped at any time in order for them to be managed in accordance with their mandate.
Performance is calculated for the portfolio and individual investor performance may differ as a result thereof. Different classes of participatory interest can apply to these portfolios and are subject to different fees, charges and possibly dividend withholding tax and will thus have differing performances. Annualised performances show longer term performance rescaled over a 12-month period. Individual performance may differ as a result of initial fees, the actual investment date, the date of reinvestment and dividend withholding tax. The portfolio is valued at 15h00 daily. Income distributions are net of any applicable taxes. Investment performance data is for illustrative purposes only. Actual performance figures are available on request. Always refer to the fund fact sheet (Minimum Disclosure Document) for full details, fees and risks of the fund.
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