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.
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.
Maximum permitted equity weightings determined by the Investment Association Mixed Investment 20-60% Shares sector.
Morningstar Analyst Rating first awarded in February 2017.
‡ 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.
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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.