Ninety One Namibia Managed Fund

All information provided is product related, and is not intended to address the circumstances of any clients. We should not provide advice to investors without appropriate risk analysis and after a thorough examination of a particular client’s financial situation. Unit trusts are generally medium to long term investments. The value of participatory interests (units) may go down as well as up. Fluctuations or movements in exchange rates may cause the value of underlying international investments to go up or down. Funds are traded at ruling prices and can engage in borrowing, up to 10% of fund net asset value to bridge insufficient liquidity. 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. A schedule of fees and charges and maximum commissions is available on request from the manager. 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 may be 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 15h00 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 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. A higher TER ratio does not necessarily imply poor return, nor does a low TER imply a good return. The current TER cannot be regarded as an indication of the future TERs. 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.

Investec Fund Managers SA (RF) (Pty) Ltd, PO Box 3018, Windhoek, Tel. +264 (0) 61 389 500, the unit trust manager, is a member of the Association of Unit Trusts Namibia and is regulated by the Namibia Financial Institutions Supervisory Authority. The trustee is Standard Bank Namibia Ltd.

Performance data source: © Morningstar.
NA unit trust: NAV-NAV, Gross Income Reinvested, in NAD.

For a full description of the Morningstar rating for funds, please see the attached guide. A rating is not a recommendation to buy, sell or hold a fund.

The overall rating for a fund, often called the ‘star rating’, is a third party rating derived from a quantitative methodology that rates funds based on an enhanced Morningstar™ Risk-Adjusted Return measure. ‘Star ratings’ run from 1 star (lowest) to 5 stars (highest) and are reviewed at the end of every calendar month. The various funds are ranked by their Morningstar™ Risk-Adjusted Return scores and relevant stars are assigned. It is important to note that individual shareclasses of each fund are evaluated separately and their ratings may differ depending on the launch date, fees and expenses relevant to the shareclass. In order to achieve a rating the share class of a fund must have a minimum three-year performance track record.

The portfolio may change significantly over a short period of time. This is not a buy or sell recommendation for any particular security. Figures may not always sum to 100 due to rounding.
For an explanation of statistical terms, please see our glossary.