The Investec Managed Fund is an actively managed multi-asset fund with a flexible investment style, which aims to deliver steady total returns (the combination of income and capital growth) and a reasonable level of income. As style-agnostic investors, we approach investments as realists, not prophets. Backed by decades of experience, we actively change our minds when conditions change.
Markets are demonstrably inefficient and opportunities can be identified and seized through a process of rigorous fundamental research and disciplined implementation. Accordingly, we employ a meticulous and systematic process to build our investment ideas into portfolios. While one asset class may outperform other asset classes for a few years, the long-term benefits of combining asset classes are significant. This multi-asset fund is ideal for medium and long-term investors seeking local and global diversification.
*Inception date: 02.04.00, A class. Source: Morningstar, as at 30.09.17. Returns are calculated on a NAV-to-NAV basis, net of A class fees, with gross income reinvested. Market indices are gross of fees. Highest and lowest 12-month rolling performance since inception* is 47.2% and -23.0% respectively.
Gail Daniel provides an update on the Fund, covering performance, positioning and outlook.
|Sector||ASISA SA Multi-Asset High Equity|
|Launch date||9 Feb 1994|
|Lump sum: R10,000|
|Total expense ratio (TER)||2.24%|
|Performance Fee in TER||0.97%|
|Transaction cost (TC)||0.78%|
*The full details and basis of the award, affirmed on 25.01.17, are available on request.
All information is as at 30.06.17 unless otherwise stated. Collective investment schemes (CIS) are traded at ruling prices and can engage in borrowing, up to 10% of portfolio net asset value to bridge insufficient liquidity, and scrip lending. A schedule of charges, fees and advisor fees is available on request from the Manager, Investec Fund Managers SA (RF) (Pty) Ltd which is registered under the CIS Control Act. Additional advisor fees may be paid and if so, are subject to the relevant FAIS disclosure requirements. CISs are generally medium to long-term investments and the manager gives no guarantee with respect to the capital or the return of the Fund. Performance shown is that of the Fund and individual investor performance may differ as a result of initial fees, actual investment date, date of any subsequent reinvestment and any dividend withholding tax and past performance is not necessarily a guide to the future. The value of participatory interests (units) may go down as well as up. Performance figures above are based on lump sum investments, using NAV to NAV figures net of fees with gross income reinvested, in South African rands. The value of participatory interests (units) may go down as well as up. Different classes of units apply to the Fund and the information presented is for the most expensive class. Fund valuations and transaction cut-off time are 16h00 SA time each business day. This portfolio may be closed in order to be managed in accordance with the mandate. Fluctuations or movements in exchange rates may cause the value of underlying international investments to go up or down. A higher Total Expense Ratio (TER) does not necessarily imply a poor return, nor does a low TER imply a good return. Where portfolios invest in the participatory interests of foreign collective investment schemes, these may levy additional charges which are included in the relevant TER. The ratio does not include transaction costs. The current TER cannot be regarded as an indication of the future TERs. Fund prices are published each business day in selected media. Additional information on the Fund may be obtained, free of charge, at www.investecassetmanagement.com. The Manager, PO Box 1655, Cape Town, 8000, Tel: 0860 500 100. Investec Asset Management (Pty) Ltd (Investec) is a member of the Association for Savings and Investment SA (ASISA). The scheme trustee is FirstRand Bank Limited, PO Box 7713, Johannesburg, 2000, Tel: (011) 282 1808. All information provided is product related, and is not intended to address the circumstances of any Financial Service Provider’s (FSP) clients. In terms of the Financial Advisory and Intermediary Services Act, FSPs should not provide advice to investors without appropriate risk analysis and after a thorough examination of a particular client’s financial situation. Investec Asset Management (Pty) Limited is an authorised financial services provider.