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August 2025
Adriaan Pask
PSG Wealth
The local bourse recovered on Monday, rising 1.60%, with gold and mining stocks leading the gains amid global risk-off sentiment sparked by recent US tariff actions. The rand also strengthened to about R17.96 against the dollar, providing some relief to importers. However, sectors reliant on exports faced headwinds due to the threat of US tariffs on local products, putting pressure on industries such as agriculture and automotive manufacturing. Additionally, companies like Sasol and Impala Platinum reported lower sales volumes, highlighting ongoing challenges in the resource sector. Looking ahead, investors will be closely watching upcoming economic data releases and developments in US-China trade negotiations to assess the market’s sustainability.
US stocks rebounded on Monday, with the S&P 500 rising 1.50%, ending a four-day losing streak. The Dow surged 585 points, and the Nasdaq gained 1.90%, as investors snapped up shares following Friday’s sell-off. The rally was driven by renewed optimism for a potential Federal Reserve (Fed) rate cut in September, following a weaker-than-expected July jobs report and downward revisions to previous months’ data. In addition, tech mega caps drove the market higher as traders responded to strong corporate earnings, with 82% of S&P 500 companies beating expectations so far. Palantir rose 4.20% ahead of its post-market earnings release, while Nvidia gained 3.50%. In contrast, Amazon slipped 1.50%, and Berkshire Hathaway dropped 3% following its weekend earnings report.
European stocks ended on strong footing, rebounding from last week’s sharp losses as investors reassessed the impact of tariffs on economic growth this year. The Eurozone’s STOXX 50 jumped 1.50% to 5 242, while the broader STOXX 600 added a softer 0.80% to 540, weighed down by underperformance in Switzerland due to increased US tariffs. Looking ahead, investor focus will shift to several key events this week, including the Bank of England’s policy decision, where markets are anticipating a 25-basis-point rate cut, as well as a busy slate of corporate earnings and economic data releases.
Chinese markets traded cautiously on Monday, reflecting investor hesitation amid ongoing economic and policy uncertainty. While last week’s Politburo meeting acknowledged rising challenges such as deflation, industrial overcapacity, and a worsening property sector, the absence of meaningful stimulus measures left markets underwhelmed. The Shanghai Composite edged up 0.20% to 3 570, while the Shenzhen Component slipped 0.20% to 10 970. Focus now shifts to upcoming trade and inflation data, which may shed light on the early impact of the tentative US-China tariff truce. Although officials concluded talks in Stockholm last week, US President Donald Trump has yet to formally approve an extension of the agreement, adding to the uncertainty.
In commodities, oil prices dipped after OPEC+ agreed to raise production by 547 000 barrels per day in September, adding to supply. Brent crude fell 18 cents to $69.49, and WTI dropped 12 cents to $67.21. The increase, part of ongoing output hikes to regain market share, reverses previous cuts and includes extra supply from the UAE, totalling about 2.5 million barrels daily. Concerns over potential disruptions to Russian oil shipments to India helped limit losses.
Gold prices slipped on Monday as investors took profits following a strong rally driven by weaker-than-expected US jobs data, which raised hopes for a Fed rate cut next month. Spot gold fell 0.10% to $3 360.62 per ounce, while US gold futures rose 0.40% to $3 412.80.
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Date | Index | Current Level | 1 Day Move | 1 Month Move | 6 Month Move | 1 Year Move |
---|---|---|---|---|---|---|
2025-08-04 | ALSI | 97744.15 | -0.79 | 0.96 | 15.73 | 23.57 |
2025-08-04 | Basic minerals | 57415.51 | 2.23 | 6.14 | 30.69 | 32.43 |
2025-08-04 | Fin + Ind 30 | 12717.01 | -1.69 | -0.60 | 12.10 | 21.46 |
2025-08-04 | Financial | 52548.10 | -1.45 | -0.90 | 9.57 | 14.30 |
2025-08-04 | Industrial index | 144311.40 | -1.87 | -0.68 | 13.86 | 26.62 |
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 01 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 | 1.51 | 15.40 | 12.55 | 13.88 | 11.55 |
PSG Investment Management Cautious Fund of Funds Class D | 1.51 | 15.40 | 12.55 | 13.88 | 11.55 | |
PSG Stable Fund Class A | 1.86 | 13.46 | 12.12 | 13.43 | 8.91 | |
PSG Stable Fund Class E | 1.87 | 14.11 | 12.77 | 14.08 | 8.84 | |
PSG Wealth Preserver Fund of Funds Class D | 28.08 | 14.60 | 12.16 | 11.00 | 9.49 | |
South African - Multi Asset - High Equity | PSG Balanced Fund Class A | 115.31 | 17.94 | 16.88 | 20.03 | 13.08 |
PSG Balanced Fund Class A | 115.31 | 17.94 | 16.88 | 20.03 | 13.08 | |
PSG Balanced Fund Class E | 115.61 | 18.61 | 17.56 | 20.72 | 10.82 | |
PSG Investment Management Growth Fund of Funds Class D | 1.89 | 20.81 | 16.00 | 18.99 | 14.60 | |
PSG Wealth Moderate Fund of Funds Class D | 48.77 | 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 | 1.39 | 12.32 | 10.90 | 10.10 | 8.80 | |
PSG Investment Management Multi-Asset Income Fund of Funds Class D | 1.19 | 10.92 | 9.55 | 8.93 | 8.53 | |
PSG Wealth Income Fund of Funds Class D | 12.87 | 10.17 | 9.63 | 8.42 | 8.07 | |
South African - Equity - General | PSG Equity Fund Class A | 20.27 | 18.12 | 18.43 | 22.64 | 13.18 |
PSG Equity Fund Class A | 20.27 | 18.12 | 18.43 | 22.64 | 13.18 | |
PSG Equity Fund Class E | 20.38 | 18.73 | 17.93 | 22.46 | 10.12 | |
PSG Equity Fund Class F | 20.36 | 18.66 | 18.97 | 23.18 | 11.02 | |
PSG Investment Management Opportunity Equity Fund of Funds Class D | 1.33 | — | — | — | — | |
PSG Wealth Creator Fund of Funds Class D | 64.98 | 20.94 | 15.46 | 16.90 | 12.70 | |
South African - Equity - SA General | PSG SA Equity Class F | 2.10 | 25.38 | 19.74 | 25.25 | 9.51 |
PSG SA Equity Class F | 2.10 | 25.38 | 19.74 | 25.25 | 9.51 | |
South African - Interest Bearing - SA Money Market | PSG Money Market Fund Class A | 1.00 | 7.05 | 7.49 | 6.01 | 7.92 |
PSG Money Market Fund Class A | 1.00 | 7.05 | 7.49 | 6.01 | 7.92 | |
PSG Money Market Fund Class F | 1.00 | 7.33 | 7.79 | 6.29 | 5.54 | |
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 | 1.01 | 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 | 9.48 | 15.72 | 16.42 | 20.65 | 11.57 |
PSG Flexible Fund Class A | 9.48 | 15.72 | 16.42 | 20.65 | 11.57 | |
PSG Flexible Fund Class E | 9.49 | 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 04 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 | 5.28 | 15.19 | 16.87 | 19.25 | 12.67 |
PSG Global Equity Feeder Fund Class A | 5.28 | 15.19 | 16.87 | 19.25 | 12.67 | |
PSG Global Equity Feeder Fund Class E | 5.49 | 15.85 | 17.55 | 19.78 | 12.42 | |
PSG Wealth Global Creator Feeder Fund Class D | 5.07 | 12.38 | 16.92 | 11.43 | 14.72 | |
Global - Multi Asset - Flexible | PSG Global Flexible Feeder Fund Class A | 4.03 | 13.23 | 15.13 | 16.20 | 12.28 |
PSG Global Flexible Feeder Fund Class A | 4.03 | 13.23 | 15.13 | 16.20 | 12.28 | |
PSG Global Flexible Feeder Fund Class B | 4.27 | 13.89 | 15.79 | 16.71 | 12.80 | |
PSG Wealth Global Flexible Feeder Fund Class D | 5.24 | 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 | 1.62 | 6.35 | 9.34 | 5.07 | 6.75 |
PSG Wealth Global Preserver Feeder Fund Class D | 1.62 | 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 01 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 | 2.14 | 3.21 | 3.01 | 2.98 | 4.84 |
PSG Wealth Global Preserver FoF (GBP) Class D | 2.14 | 3.21 | 3.01 | 2.98 | 4.84 | |
EAA Fund GBP Flexible Allocation | PSG Wealth Global Flexible FoF (GBP) Class D | 4.06 | 7.31 | 5.08 | 5.31 | 9.12 |
PSG Wealth Global Flexible FoF (GBP) Class D | 4.06 | 7.31 | 5.08 | 5.31 | 9.12 | |
EAA Fund Global Flex-Cap Equity | PSG Global Equity Sub-Fund Class A | 2.51 | 12.37 | 12.54 | 17.71 | 6.37 |
PSG Global Equity Sub-Fund Class A | 2.51 | 12.37 | 12.54 | 17.71 | 6.37 | |
PSG Global Equity Sub-Fund Class B | 2.61 | 12.94 | 13.17 | 18.33 | 8.03 | |
EAA Fund Global Large-Cap Blend Equity | PSG Wealth Global Creator Fund of Funds Class D | 3.26 | 11.33 | 12.65 | 9.67 | 9.84 |
PSG Wealth Global Creator Fund of Funds Class D | 3.26 | 11.33 | 12.65 | 9.67 | 9.84 | |
EAA Fund USD Cautious Allocation | PSG Wealth Global Preserver FoF (USD) Class D | 1.82 | 6.57 | 5.76 | 3.54 | 3.81 |
PSG Wealth Global Preserver FoF (USD) Class D | 1.82 | 6.57 | 5.76 | 3.54 | 3.81 | |
EAA Fund USD Flexible Allocation | PSG Global Flexible Sub-Fund Class A | 21.44 | 10.91 | 11.00 | 15.00 | 6.29 |
PSG Global Flexible Sub-Fund Class A | 21.44 | 10.91 | 11.00 | 15.00 | 6.29 | |
PSG Global Flexible Sub-Fund Class B | 22.85 | 11.41 | 11.51 | 15.45 | 6.91 | |
PSG Investment Management Global Flexible Fund of Funds (Dollar) | 1.75 | 9.08 | 5.83 | 3.45 | 3.05 | |
PSG Wealth Global Flexible FoF (USD) Class D | 3.44 | 9.95 | 7.25 | 5.17 | 8.00 | |
EAA Fund USD Moderate Allocation | PSG Wealth Global Moderate Fund of Funds Class D | 2.26 | 9.30 | 7.82 | 5.82 | 5.62 |
PSG Wealth Global Moderate Fund of Funds Class D | 2.26 | 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 2025/08/04 | |||
---|---|---|---|---|
1 year % | 3 year % | 5 year % | Inception % | |
PSG Wealth Income Growth Equity Portfolio | 6.06 | 12.01 | 12.55 | 3.95 |
PSG Wealth Offshore Equity Portfolio (USD) | 4.55 | 10.42 | 8.09 | 11.09 |
PSG Wealth SA Equity Portfolio | 17.08 | 11.63 | 11.56 | 5.78 |
PSG Wealth SA Property Equity Portfolio | 15.26 | 20.27 | 21.07 | 0.89 |
* 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 |
---|---|---|---|
30 July 2025 | Nampak Limited 6 Percent Cumulative Preference Shares | NPKP | Cash Dividend |
30 July 2025 | Nampak Limited 6.5 Percent Cumulative Preference Shares | NPP1 | Cash Dividend |
30 July 2025 | Trencor Limited | TRE | 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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