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Top SA fund shunned miners, held Steinhoff

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Johannesburg - Anchor Capital’s BCI Equity Fund avoided commodity shares and invested in the industrial and financial sectors to became the best-performing fund in South Africa over the past three years, according to data compiled by Morningstar.

The fund, established in April 2013 and managed by Sean Ashton, invests in equities, primarily Johannesburg-traded shares, with the ability to hold offshore stocks to a maximum of 25% of the fund value.

“A lot of the returns have come about as a result of avoiding the large landmines that have occurred in our market over the last three years,” Ashton said in an interview posted on the company’s website.

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