The Fund aims to provide a total return (the combination of income and capital growth) which is higher than inflation over the medium term
The Fund invests in a varied mix of asset classes including equities (e.g. company shares), bonds (contracts to repay borrowed money which typically pay interest at fixed times), cash and listed property in a manner similar to that usually employed by retirement funds
Other investments may include the units of other funds (including foreign funds) and derivatives (financial contracts whose value is linked to the price of an underlying asset)
The risk profile of the Fund is expected to be moderate to low with typically less than 40% of the Fund’s value being invested in equities
Fund features
The Fund seeks capital preservation and absolute returns through active asset allocation and is managed in accordance with Regulation 28 of the Pension Funds Act 24 of 1956
Low equity weighting limits drawdown
Stock selection is oriented towards a quality approach, seeking to deliver consistent performance through the business cycle
Duane Cable
Portfolio Manager and Head of SA Quality
Duane is a portfolio manager in Ninety One’s Quality investment team and Head of South Africa...
Sumesh Chetty
Portfolio Manager
Sumesh is a portfolio manager at Ninety One within our Quality team. He has responsibility for...
Investment objective summary
The Fund aims to provide a total return (the combination of income and capital growth) which is higher than inflation over the medium term
The Fund invests in a varied mix of asset classes including equities (e.g. company shares), bonds (contracts to repay borrowed money which typically pay interest at fixed times), cash and listed property in a manner similar to that usually employed by retirement funds
Other investments may include the units of other funds (including foreign funds) and derivatives (financial contracts whose value is linked to the price of an underlying asset)
The risk profile of the Fund is expected to be moderate to low with typically less than 40% of the Fund’s value being invested in equities
Fund features
The Fund seeks capital preservation and absolute returns through active asset allocation and is managed in accordance with Regulation 28 of the Pension Funds Act 24 of 1956
Low equity weighting limits drawdown
Stock selection is oriented towards a quality approach, seeking to deliver consistent performance through the business cycle
Duane Cable
Portfolio Manager and Head of SA Quality
Duane is a portfolio manager in Ninety One’s Quality investment team and Head of South Africa Quality. He manages South African absolute returns portfolios, including customized medical scheme portfolios, a global multi asset portfolio and is co-portfolio manager of the Nedgroup Investments Rainmaker Fund.
Prior to joining the firm, Duane was Head of SA Equities at Coronation Fund Managers. He also managed absolute return strategies, including co-portfolio management of the Coronation Balanced Defensive Fund. Before that, he was a manager in the Transaction Advisory Services division of Ernst & Young in New York, involved primarily in financial due diligence advisory services on mergers and acquisitions.
Duane holds a Bachelor of Commerce Bachelor degree from University of Cape Town and a Bachelor of Commerce Honours (Accounting) degree from the University of Natal. He is a Chartered Accountant and member of the South African Institute of Chartered Accountants and is a CFA® Charterholder.
Sumesh Chetty
Portfolio Manager
Sumesh is a portfolio manager at Ninety One within our Quality team. He has responsibility for our absolute return strategies and is co-portfolio manager of the Cautious Managed Fund and the Absolute Balanced Fund.
He joined the firm in 2007 from Metropolitan Asset Managers where he managed the Metropolitan Absolute Return Fund from 2005. Before joining Metropolitan, Sumesh spent three years as an investment actuary at Metropolitan Employee Benefits, where he was responsible for managing smooth bonus funds. Sumesh began his career at Swiss Re Life & Health, where he spent over three years as an actuarial specialist.
Sumesh graduated from the University of Cape Town with a Bachelor of Business Science (Hons) degree in Actuarial Science and a postgraduate diploma in Actuarial Science. He is also a Fellow of the Institute of Actuaries in the United Kingdom and a Fellow of the Actuarial Society of South Africa.
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