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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.

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Investec Multi-Asset Protector (MAP) Fund

The Investec Multi-Asset Protector Fund aims to provide attractive, long-term returns, with the added benefit of downside protection.

A unique fund for investors seeking growth with added protection

The Investec Multi-Asset Protector Fund aims to provide attractive, long-term returns, with the added benefit of downside protection. A multi-layered investment approach:

  • Actively managed multi-asset universe provides greater diversification and the potential for a better risk/return profile than a single asset class fund
  • Dynamic asset allocation using a pre-defined model the Fund seeks to preserve investors' capital by allocating to cash when markets are falling
  • Downside protection mechanism. The Fund invests in a derivative contract, with a single counterparty (currently Deutsche Bank) through which the Fund aims to provide protection at 80% of the Fund’s highest ever share price; however, such an outcome is not guaranteed
  • Flexible access. The Fund is daily priced and daily dealing, and eligible for investment through an ISA
  • Attractive for a wide range of investors. May be suitable for investors looking for lower volatility growth with added downside protection, aiming to provide sustainable, long-term income during retirement.

Iain Cunningham explains the Multi-Asset Protector strategy

 

The protection mechanism in action

The graph below illustrates how the downside protection might work over time.


Source: Investec Asset Management.

The dynamic nature of the downside protection means that the Fund may lag the market in times of rapid market recovery, because the Fund maybe largely invested in cash for extended periods of time. Large investments in cash will mean that upside may be limited if markets subsequently rise. As a result, keeping the Fund open may no longer be in the best interest of shareholders and at this stage, the Manager could consider winding up the Fund.



General risks

The value of investments, and any income generated from them, can fall as well as rise. Where charges are taken from capital, this may constrain future growth.

Past performance is not a reliable indicator of future results. If any currency differs from the investor's home currency, returns may increase or decrease as a result of currency fluctuations.

Investment objectives and performance targets may not necessarily be achieved, losses may be made.


Specific risks

Currency exchange: Changes in the relative values of different currencies may adversely affect the value of investments and any related income. Derivative counterparty: A counterparty to a derivative transaction may fail to meet its obligations thereby leading to financial loss. Derivatives: The use of derivatives is not intended to increase the overall level of risk. However, the use of derivatives may still lead to large changes in value and includes the potential for large financial loss. Equity investment: The value of equities (e.g. shares) and equity-related investments may vary according to company profits and future prospects as well as more general market factors. In the event of a company default (e.g. bankruptcy), the owners of their equity rank last in terms of any financial payment from that company. Fund closure: Where the Fund is unable to find a suitable counterparty to enable at least 80% of the value of the Fund to be protected or where only allocation to cash is feasible, the Fund may have to be closed with the proceeds returned to investors. Government securities exposure: The portfolio may invest more than 35% of its assets in government securities issued or guaranteed by a permitted single state. Interest rate: The value of fixed income investments (e.g. bonds) tends to decrease when interest rates and/or inflation rises. Large cash holding: There is a risk that the Fund may hold large proportions of cash for considerable periods of time. This may lead to the Fund underperforming those markets where it is usually expected to invest. Protected value: Whilst the Fund will endeavour to protect at least 80% of its value at all times this is not guaranteed.

Philip Saunders

Portfolio Manager

Iain Cunningham

Portfolio Manager



Watch the update

For more information on the clean share class:

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Important Information

All information is as at 30.09.17 unless otherwise stated.

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.

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