Navigation Search
Close

Select your location and role to view strategy and fund content

United Kingdom
  • Global homepage
  • Australia
  • Botswana
  • Denmark
  • Deutschland
  • España
  • Finland (Suomi)
  • France
  • Hong Kong (香港)
  • Ireland
  • Italia
  • Luxembourg
  • Namibia
  • Nederland
  • Norway
  • Österreich
  • Singapore
  • South Africa
  • Sweden (Sverige)
  • Switzerland
  • Taiwan (台灣)
  • United Kingdom
  • United States
  • International
Professional Investor
  • Professional Investor
  • Individual Investor

Tailored for investment professionals this site provides information on our products, strategies and services. Please remember capital is at risk and past performance is not a guide to the future.

By entering you agree to our Terms & Conditions

Login to My Investec

Cautious Managed Fund

Managed using a contrarian/value approach, it blends undervalued, out-of-favour equities with complementary assets, seeking to dampen volatility and provide attractive risk-adjusted returns.‡ The Funds simple, transparent and proven approach has successfully steered it through many challenging environments.

Reasons to invest

  • Annualised returns of 7.5% since launch in 1993, rolling 5-year returns have always been positive^ - targeting consistent long-term returns.
  • Exposure to a range of 'complementary assets' - aiming to deliver UK CPI +4%p.a.‡
  • Assets are blended to help dampen volatility – c.50% of the historic volatility of UK equities**.
  • Managed for 15 years by Alastair Mundy and his Value team. The same, consistent process, proven over the long term.
  • Rated by leading research agencies – a highly regarded fund. 

     


Is there value in Value?
Watch Alastair Mundy on the current macro environment and some of the latest investment themes running through his portfolios.

Attractive long-term performance with lower volatility since launch*

Launched in 1993, the Investec Cautious Managed Fund is one of our most widely held funds and has provided investors with 7.5% annualised return since launch, with half the volatility of the FTSE All-Share Index*.

Past performance should not be taken as a guide to the future, losses may be made. Data is not audited. *Volatility of the Fund over the same period is 10.2% compared with 20.2% for the FTSE All-Share Index. Sector rankings based on IA Mixed Investment 20-60% Shares.

 

Aiming to build a successful cautious portfolio

 

Maximum permitted equity weightings determined by the Investment Association Mixed Investment 20-60% Shares sector.

Top-decile performance in 2016 through difficult markets -  19.1%, outperforming UK equities and the sector which retuned 10.6%.

Alastair Mundy

Portfolio Manager



Watch the update

 

 

Morningstar Analyst Rating first awarded in February 2017.

Important information

‡ Gross of fees. This is an aim and not guaranteed. 
^Source: Morningstar, to 30.09.17. 
*Volatility of the Fund over the same period is 10.2% compared with 20.2% for the FTSE All-Share Index. NAV based, income reinvested (inclusive of management fees but excluding any initial charge) net of UK basic rate tax, in GBP. Sector rankings based on IA Mixed Investment 20-60% Shares.

Dynamic Planner® is a registered trademark of Distribution Technology

Fund ratings may be provided by independent rating agencies based on a range of investment criteria, and do not constitute investment advice by Investec Asset Management. For a full description of the ratings please see www.investecassetmanagement.com/ratings.

Fixed income and multi-asset funds may invest more than 35% of their assets in securities issued or guaranteed by an EEA state.

All information is as at 30.09.17 unless otherwise stated.

The Fund’s investment objectives and performance targets will not necessarily be achieved and there is no guarantee that these investments will make profits; losses may be made. Past performance is not a reliable indicator of future results.

Fund specific risks:

Currency exchange: Changes in the relative values of different currencies may adversely affect the value of the Fund’s investments and any related income.

Derivatives: The use of derivatives is not intended to increase the overall level of risk in the Fund. However, the use of derivatives may still lead to large changes in the value of the Fund and includes the potential for large financial loss.

Interest rate: The value of fixed income investments (e.g. bonds) tends to decrease when interest rates and/or inflation rises.

Multi-asset investment: The Fund is subject to possible financial losses in multiple markets and may underperform more focused funds.

Charges from capital: For Inc-2 shares classes, expenses are charged to the capital account rather than to income. This has the effect of increasing income (which may be taxable) whilst reducing capital to an equivalent extent. This could constrain future capital and income growth.