The Fund aims to provide a high level of income while seeking opportunities to maximise capital growth
The Fund invests in a broad range of fixed income instruments (contracts to repay borrowed money which typically pay interest at fixed times) including government and corporate bonds. Other investments may include company shares, the units of other funds (including foreign funds), cash, property related securities (financial contracts evidencing ownership or debt) and derivatives (financial contracts whose value is linked to the price of an underlying asset). Between 5% and 25% of the Fund’s value will typically be invested in property
Fund features
An actively managed, well diversified fixed income portfolio with multiple sources of return
A global approach to fixed interest investing, capturing opportunities that South African and global fixed interest markets offer
Managed in accordance with Regulation 28 of the Pension Funds Act 24 of 1956
Malcolm Charles
Portfolio Manager, SA Fixed Income
Adam Furlan
Portfolio Manager
Ruen Naidu
Portfolio Manager
Investment objective summary
The Fund aims to provide a high level of income while seeking opportunities to maximise capital growth
The Fund invests in a broad range of fixed income instruments (contracts to repay borrowed money which typically pay interest at fixed times) including government and corporate bonds. Other investments may include company shares, the units of other funds (including foreign funds), cash, property related securities (financial contracts evidencing ownership or debt) and derivatives (financial contracts whose value is linked to the price of an underlying asset). Between 5% and 25% of the Fund’s value will typically be invested in property
Fund features
An actively managed, well diversified fixed income portfolio with multiple sources of return
A global approach to fixed interest investing, capturing opportunities that South African and global fixed interest markets offer
Managed in accordance with Regulation 28 of the Pension Funds Act 24 of 1956
Malcolm Charles
Portfolio Manager, SA Fixed Income
Malcolm is a portfolio manager in the South African Rates team, with responsibility for a range of fixed income portfolios, including the Flexible Bond, Dynamic Bond and Diversified Income strategies as well as the Fixed Income hedge fund. Prior to joining the firm in 2001, he worked for African Harvest Fund Managers and Old Mutual Asset Managers, as both a fixed interest trader and portfolio manager. Malcolm graduated from Rhodes University with a Bachelor of Commerce degree in Accounting, Business Administration and Commercial Law.
Adam Furlan
Portfolio Manager
Adam is a portfolio manager within the South African Rates and South African and African Credit team at Ninety One. Before being appointed as a portfolio manager, Adam was an analyst within the team, where his focus was primarily on South Africa fixed income and investment grade credit.
Adam is a portfolio manager within the Emerging Market Fixed Income team at Ninety One. He co-manages South African (SA) Rates and SA investment grade credit strategies as well as the Global Diversified Income strategy. Before being appointed as a portfolio manager, Adam was an analyst within the team. His research remit remains primarily on South Africa fixed income and investment grade credit.
Prior to joining Ninety One, he spent two years at Investec Bank as a trainee accountant, part of the Investec Chartered Accountant Programme, where he worked in group risk and in the private bank treasury.
Adam holds a Bachelor of Business Science (Honours) degree in Finance from the University of Cape Town and was awarded the Chartered Accountant (SA) designation in 2014.
Ruen Naidu
Portfolio Manager
Ruen is a portfolio manager within the South African Rates team at Ninety One. His responsibilities include macro research and co-portfolio management of Ninety One’s relative value fixed income strategies.
Ruen joins Ninety One after six years with Argon Asset Management where he led the Macro Investment team and co-managed their fixed income funds. Before that Ruen spent two years as a portfolio manager with Cadiz Asset Management and nine years with South Easter Fund Management / PSG. He started his career as an actuarial modeler with Computer Science Corporation.
Ruen graduated with a Bachelor of Business Science, Actuarial Science degree from the University of Cape Town.
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