| Range: Investec Unit Trust Scheme |
| Fund objective |
| The Investec Diversified Income Fund aims to provide investors with returns in excess of the benchmark, measured over rolling three year periods. |
| Portfolio manager: Malcolm Charles, André Roux |
| Portfolio manager biography: Malcolm Charles has worked in financial services since 1996. Before joining Investec Asset Management in 2001 he was a fixed interest trader and portfolio manager with African Harvest Fund Managers and Old Mutual Asset Managers. Malcolm has a BCom degree in Accounting, Business Administration and Commercial Law from Rhodes University. André Roux joined Investec in 2000. He worked at the Development Bank of Southern Africa before taking responsibility for macro-economic, fiscal and tax policy and intergovernmental fiscal relations as Deputy Director General of the Department of Finance. André has also been an academic, during which he published on fiscal and development issues. He holds Master’s degrees in Mathematics and Economics from Oxford and Cambridge Universities. He did his undergraduate studies at the University of Cape Town. |
| Fund Rating |  |
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Key facts
| Fund Size | R1696.5m |
|---|---|
| Fund launch date | 01/09/2008 |
| Share class launch date | 30/09/2009 |
| Domicile | South Africa |
| Peer group sector | ASISA Domestic Fixed Interest Varied Specialist |
| Performance comparison index | STeFI Composite (ALBI 1-3 pre 01/07/2011) |
Share class charges
| Maximum initial charge | 0.00% |
|---|---|
| Annual management fee | 1.00% |
| Estimated total expense ratio | 1.24% |
| TER date | 31/03/2012 |
Dealing information
| Pricing | 16.00 SA Time (forward pricing) |
|---|---|
| Types of shares | Inc, N/A |
| Share class dealing currency | ZAR |
| Lump sum | R10000 |
| Per month | R500 |
Share class codes
| ISIN | ZAE000140505 |
|---|
Collective investment schemes in securities (unit trusts) are generally medium to long term investments. The value of participatory interests (units) may go down as well as up and past performance is not necessarily a guide to the future.
Fluctuations or movements in exchange rates may cause the value of underlying international investments to go up or down. Unit trusts are traded at ruling prices and can engage in borrowing and scrip lending. Forward pricing is used.
Quantifiable deductions are the initial fee whilst non-quantifiable deductions included in the net asset value price may comprise brokerage, MST, auditor's fees, bank charges, trustee and custodian fees. Commissions and incentives may be paid and if so, would be included in the overall costs. A schedule of fees and charges and maximum commissions is available on request from the company/scheme. If required, the portfolio manager may borrow up to 10% of the market value of the portfolio to bridge insufficient liquidity. Unit trust prices are calculated on a net asset value basis, which is the total value of all assets in the portfolio including any income accrual and less any permissible deductions from the portfolio. Different classes of units apply to the fund and are subject to different fees and charges. Fund valuations take place at approximately 16h00 SA time each day. Purchase and repurchase requests must be received by the Manager by 16h00 SA time each business day. Performance figures are based on lump sum investment (if applicable). This portfolio may be closed in order to be managed in accordance with the mandate (if applicable). The risk profile is a measure of volatility, i.e. how the absolute return of the fund varies. Note that there are other risks in the fund, which are not reflected in this rating. *For the period 1 July 2008 to 30 June 2009 the TER shows the percentage of the average Net Asset Value of the portfolio that was incurred as charges, levies and fees relating to the management of the portfolio. The ratio does not include transaction costs. A higher TER ratio does not necessarily imply poor return, nor does a low TER imply a good return. The current TER can not be regarded as an indication of the future TERs.
A #169 of our performance fees FAQ is available at www.investecassetmanagement.com. Investec Fund Managers SA Ltd is a member of the Association for Savings & Investment SA.
Fund ratings may be provided by independent rating agencies based on a range of investment criteria. For a full description of the ratings, please see www.investecassetmanagement.com/ratings. Where Morningstar Star RatingsTM or Morningstar OBSR Analyst RatingsTM are shown these are effective as at the date shown in the share class summary above. A rating is not a recommendation to buy, sell or hold a fund.
Morningstar OBSR Analyst ratingTM: Copyright © 2012
Morningstar. All Rights Reserved. The information, data and opinions expressed and contained herein are proprietary to Morningstar and/or its content providers and are not intended to represent investment advice or recommendation to buy or sell any security; are not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this Rating, Rating Report or Information contained therein.
