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August 2025
Adriaan Pask
PSG Wealth
Monday’s trading saw Asia finish on a high, with Japan and China hitting record levels and investors showing renewed optimism ahead of pivotal global developments. China’s Shanghai Composite surged 0.97%, marking its highest close in nearly a decade, while the Shenzhen Component Index rose by 1.73%. Japan’s Nikkei share average extended last week’s gains, also closing at a record high of 43 714.31, increasing by 0.77%, as a weaker yen supported automakers’ stocks.
The broader Topix Index reached a record close at 3 120.96, rising 0.43%, with both indices marking record levels for the second consecutive session. The MSCI Asia Pacific Index edged 0.40% higher, signalling generally positive momentum across the region. By contrast, Hong Kong’s Hang Seng Index dipped slightly, closing 0.14% lower. Overall, the performance across these key markets reflects rising investor confidence as they anticipate accommodative monetary policy and improved geopolitical stability.
European equities, however, drifted lower on Monday as investors stayed cautious ahead of a week set to be dominated by central bank signals and geopolitical developments. The STOXX 50 slipped 0.30% to 5 431, the STOXX 600 was unchanged at 554, and Frankfurt’s DAX eased 0.20% to 24 302.
Attention remains on the Jackson Hole Symposium later this week, where Federal Reserve Chair Jerome Powell may outline the path for interest rates. Softer labour market data has strengthened the case for further easing. Geopolitics also weighed on sentiment, with Ukrainian President Volodymyr Zelensky and European leaders in Washington for high stakes talks with US President Donald Trump on a potential peace deal.
Sector performance was mixed. Banks dragged on indices, with BNP Paribas and Nordea both falling more than 1.50%. By contrast, Vestas jumped 15% after benefitting from favourable changes to US tax credits, while Novo Nordisk advanced over 6% after cutting the direct-purchase price of its obesity drug Wegovy.
In London, the FTSE 100 outperformed its continental peers, edging higher to close at 9 140.46. Defence and aerospace stocks gained on the back of geopolitical tensions, with Babcock International up as much as 5% after RBC initiated coverage, citing its strong Ministry of Defence ties and improved balance sheet. Endeavour Mining was supported by higher gold prices, while Dr Martens also rose. In contrast, Cranswick slipped after reports of animal cruelty at one of its farms weighed on sentiment towards the meat producer.
US stocks were largely flat on Monday, as investors paused following recent gains. The S&P 500 and Nasdaq showed little movement, while the Dow slipped 0.10%. Attention is turning to a busy week ahead, with earnings from major retailers—including Walmart, Target, Home Depot, and Lowe’s—expected to influence market direction, alongside Federal Reserve Chair Jerome Powell’s highly anticipated speech at the Jackson Hole symposium. Markets are pricing in a high probability of a September rate cut, while the release of the Fed’s July meeting minutes on Wednesday could provide further insight into policy debates.
Geopolitical developments also remained in focus after President Donald Trump met with Ukrainian President Zelensky and European leaders, following his recent summit with Russian President Putin. Although no ceasefire breakthrough was achieved, agreement was reached on US and European security guarantees for Ukraine. Treasury yields held above 4.30% as investors weighed these developments. On the corporate front, Intel shares fell nearly 4% amid reports that the White House is considering acquiring a 10% stake, adding to cautious sentiment.
South African markets ended in negative territory on Monday, with the All Share Index falling 0.79%, the JSE Top 40 declining 0.87% and the Financial 15 down 0.75%. The pullback came amid cautious investor sentiment, as markets weighed global economic developments and geopolitical uncertainties. Despite the equity declines, the rand showed relative resilience, strengthening 0.38% against the dollar to close at R17.64 and rising to R20.57 against the euro. Against the pound, however, the local currency eased 0.34%, ending the session at R23.82.
In commodities, gold eased to $3 331.90 per ounce, while platinum fell 0.49%. Brent crude rose 1.15% to $66.61 per barrel, supported by optimism over demand and geopolitical developments.
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Date | Index | Current Level | 1 Day Move | 1 Month Move | 6 Month Move | 1 Year Move |
---|---|---|---|---|---|---|
2025-08-19 | ALSI | 101142.62 | -0.79 | 2.54 | 15.63 | 26.35 |
2025-08-19 | Basic minerals | 60773.69 | -0.64 | 5.83 | 36.81 | 44.99 |
2025-08-19 | Fin + Ind 30 | 13066.01 | -0.84 | 1.60 | 10.40 | 21.65 |
2025-08-19 | Financial | 53785.86 | -0.66 | 1.43 | 10.41 | 14.09 |
2025-08-19 | Industrial index | 148693.77 | -0.98 | 1.44 | 10.08 | 27.10 |
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 15 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 | 28.28 | 14.60 | 12.16 | 11.00 | 9.49 | |
South African - Multi Asset - High Equity | PSG Balanced Fund Class A | 115.71 | 17.94 | 16.88 | 20.03 | 13.08 |
PSG Balanced Fund Class A | 115.71 | 17.94 | 16.88 | 20.03 | 13.08 | |
PSG Balanced Fund Class E | 116.04 | 18.61 | 17.56 | 20.72 | 10.82 | |
PSG Investment Management Growth Fund of Funds Class D | 1.93 | 20.81 | 16.00 | 18.99 | 14.60 | |
PSG Wealth Moderate Fund of Funds Class D | 49.42 | 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 | 12.92 | 10.17 | 9.63 | 8.42 | 8.07 | |
South African - Equity - General | PSG Equity Fund Class A | 20.50 | 18.12 | 18.43 | 22.64 | 13.18 |
PSG Equity Fund Class A | 20.50 | 18.12 | 18.43 | 22.64 | 13.18 | |
PSG Equity Fund Class E | 20.62 | 18.73 | 17.93 | 22.46 | 10.12 | |
PSG Equity Fund Class F | 20.60 | 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 | 66.86 | 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 | 9.55 | 15.72 | 16.42 | 20.65 | 11.57 |
PSG Flexible Fund Class A | 9.55 | 15.72 | 16.42 | 20.65 | 11.57 | |
PSG Flexible Fund Class E | 9.57 | 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 18 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 | 5.37 | 15.19 | 16.87 | 19.25 | 12.67 |
PSG Global Equity Feeder Fund Class A | 5.37 | 15.19 | 16.87 | 19.25 | 12.67 | |
PSG Global Equity Feeder Fund Class E | 5.59 | 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 | 5.37 | 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 14 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 | 4.06 | 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 | 2.61 | 12.37 | 12.54 | 17.71 | 6.37 |
PSG Global Equity Sub-Fund Class A | 2.61 | 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 | 1.85 | 6.57 | 5.76 | 3.54 | 3.81 |
PSG Wealth Global Preserver FoF (USD) Class D | 1.85 | 6.57 | 5.76 | 3.54 | 3.81 | |
EAA Fund USD Flexible Allocation | PSG Global Flexible Sub-Fund Class A | 22.16 | 10.91 | 11.00 | 15.00 | 6.29 |
PSG Global Flexible Sub-Fund Class A | 22.16 | 10.91 | 11.00 | 15.00 | 6.29 | |
PSG Global Flexible Sub-Fund Class B | 23.62 | 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 2025/08/14 | |||
---|---|---|---|---|
1 year % | 3 year % | 5 year % | Inception % | |
PSG Wealth Income Growth Equity Portfolio | 17.75 | 10.90 | 11.55 | 4.24 |
PSG Wealth Offshore Equity Portfolio (USD) | 12.95 | 9.06 | 9.38 | 11.36 |
PSG Wealth SA Equity Portfolio | 29.10 | 10.69 | 11.32 | 6.23 |
PSG Wealth SA Property Equity Portfolio | 24.52 | 17.04 | 18.47 | 0.98 |
* 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 |
---|---|---|---|
20 August 2025 | Anglo American Plc | AGL | DRIP |
20 August 2025 | AngloGold Ashanti Plc | ANG | Cash dividend |
20 August 2025 | Investec Bank (Mauritius) Ltd Redeemable Cumulative Non-Participating No Par Value Preference Shares | IMRP1 | Cash dividend |
20 August 2025 | Investec Bank (Mauritius) Ltd | IMRP2 | Cash dividend |
20 August 2025 | Investec Bank (Mauritius) Ltd | IMRP3 | Cash dividend |
20 August 2025 | Investec Bank (Mauritius) Ltd | IMRP4 | Cash dividend |
20 August 2025 | Investec Bank (Mauritius) Ltd | IMRP6 | Cash dividend |
20 August 2025 | Investec Bank (Mauritius) Ltd | IMRP7 | Cash dividend |
20 August 2025 | Invicta Holdings Limited | IVT | Cash dividend |
20 August 2025 | Kumba Iron Ore Limited | KIO | Cash dividend |
20 August 2025 | Mondi Plc | MNP | DRIP |
20 August 2025 | Shafterbury Capital Plc | SHC | Cash dividend |
20 August 2025 | Telemasters Holdings Limited | TLM | Cash dividend |
20 August 2025 | Valterra Platinum Limited | VAL | Cash dividend |
20 August 2025 | BNP Paribas Issuance B.V. | ZA251 | Cash distribution |
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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