FOR IMMEDIATE RELEASE
CAPE TOWN, 4 February 2026 – The Efficient Group and Fossil Free South Africa are proud to announce that the Efficient Group’s Select BCI ESG Equity Fund has been ranked among the top-performing funds within the ASISA South African Equity General category during the past year, delivering a return of 53% (net of fees, in SA rand), significantly outperforming the peer average.
South African equity markets performed extremely well during the past year, with macro tailwinds (removal from FATF’s greylist, improving fiscal stability, and dollar weakness) supporting a broad market rally which especially benefitted platinum and gold stocks listed on the JSE. The fund benefitted from these key market drivers, while avoiding or underweighting the companies not contributing positively to South Africa.
This achievement marks a watershed moment for responsible investing in South Africa, debunking the persistent myth that ethical investing implies a sacrifice in financial returns. The fund’s performance validates divestment from specific business activities that are deemed incompatible with sustainable investment values and toward sustainable capital allocation, despite current political headwinds.
Proving the case for fossil-free ESG investment
Managed by Efficient Select (a division of the Efficient Group), the fund tracks the custom version of the S&P South Africa Composite Capped Scored and Screened Index. The fund’s success during the past year was underpinned by this custom index, which excludes companies earning revenue above specific thresholds from activities deemed incompatible with sustainable goals, including thermal coal, tobacco and controversial weapons. It also removes or underweights companies with poor ESG scores.
Notably, the fund also excludes Sasol, South Africa’s single largest emitter of greenhouse gases, due to the company’s misalignment with the Paris agreement goals. By avoiding companies involved in thermal coal activities, the fund has protected investors while capturing the growth of forward-looking South African enterprises.
Key performance highlights
Total return: 53.18% (1-year period ending 31 January 2026).
Ranking: 4/136 funds within the ASISA SA Equity General category (1-year period ending 31 January 2026)
Strategy: Passive tracking of the S&P South Africa Composite Capped Scored & Screened Ex-Sasol Index .
Key exclusions: Thermal coal, controversial weapons, tobacco, and low-ESG scoring companies (including Sasol).
Quotes
"We are thrilled to see our ESG fund delivering such exceptional value to our clients. By licensing an S&P Dow Jones Indices index that meets defined sustainability criteria, we have created a vehicle that meets the fund objective without the drag of companies that fail to meet specific environmental and governance standards. Being among the top-performing equity funds in the country, both over the short- and long-term, is proof that sustainable investing is simply smart investing." – Diaan Janse van Rensburg, CEO: Platform and Solutions (part of the Efficient Group)
“Business–as-usual investment is all too often disastrous for a more sustainable future and all of us, as it ignores how the many negative externalities of industry are destabilising the environment and hollowing out the global economy. So there’s always a guaranteed social return from fossil fuel divestment. But this fund’s progress proves there can also be a direct financial return, proving wrong those detractors who have claimed that divesting from companies that do not meet certain sustainable criteria is risky or unprofitable. South African investors can now see that using specific sustainable criteria can help meet their values, while protecting long-term savings; they go hand in hand. We congratulate the Efficient Group on their visionary approach to these issues." – David Le Page, director, Fossil Free SA
About the fund
The Select BCI ESG Equity Fund offers South African investors a low-cost, transparent way to access South African stocks on the JSE while avoiding significant risks associated with the fossil fuel economy. It is available to both retail and institutional investors. The fund’s current structure was developed and launched by the Efficient Group in 2021, following requests from and dialogue with Fossil Free SA and Just Share stakeholders. Fossil Free SA has no financial stake in the fund. Note that one year’s good performance is no assurance of equivalent future performance. Investors are encouraged to obtain independent professional investment advice before investing in this fund.
About Efficient Group
The Efficient Group is a diversified financial services company offering professional advice on an extensive range of financial services, investment administration, and wealth management. Efficient Select, the group’s asset management arm, focuses on delivering specialised investment solutions, including actively managed funds, index-tracking and ESG-focused funds.
About Fossil Free South Africa
Fossil Free South Africa is a human rights and climate campaign calling for divestment from fossil fuels and reinvestment in a just transition to a sustainable society. The organization works to illuminate the multi-dimensional harms of the fossil fuel industry and catalyze a shift in capital towards a future in which all can thrive.
Media contacts
For Efficient Group:
Diaan Janse van Rensburg: diaan@efinvest.co.za / +27845762256
For Fossil Free South Africa:
David Le Page: david@fossilfreesa.org.za / +27845220968
