The Fund aims to provide long-term income and capital growth through investment in a diversified and actively managed portfolio consisting of any combination of cash instruments, fixed income securities, convertible securities, equity securities, and derivatives on an international basis. Normally, the maximum equity content will be limited to 75% of the Fund.
Fund features
Flexible and diversified global growth portfolio
David Knee
Portfolio Manager
David is Head of Multi Asset at Ninety One. He focuses on fostering greater collaboration across...
Rehana Khan
Co-Head of SA Equity & Multi-Asset
Rehana is Co-Head of SA Equity & Multi-Asset within the 4Factor team at Ninety One. She...
Investment objective summary
The Fund aims to provide long-term income and capital growth through investment in a diversified and actively managed portfolio consisting of any combination of cash instruments, fixed income securities, convertible securities, equity securities, and derivatives on an international basis. Normally, the maximum equity content will be limited to 75% of the Fund.
Fund features
Flexible and diversified global growth portfolio
David Knee
Portfolio Manager
David is Head of Multi Asset at Ninety One. He focuses on fostering greater collaboration across investment teams and strengthening the macro research process that underpins our strategies. In addition, David is a co-portfolio manager for the Global Strategic Managed, Global Macro Allocation and Global Macro Currency strategies.
David has held senior investment leadership positions and managed multi-asset and fixed income portfolios across South Africa and the UK. Prior to joining the firm, he was co-Deputy Chief Investment Officer CIO at M&G Investments in London. Before that, he was the Chief Investment Officer at M&G Investments Southern Africa.
David holds a Bachelor of Science Honours in Economics and Master of Science in Economics from the London School of Economics and Birkbeck College respectively. He is an Associate of the Society of Investment Professionals.
Rehana Khan
Co-Head of SA Equity & Multi-Asset
Rehana is Co-Head of SA Equity & Multi-Asset within the 4Factor team at Ninety One. She has portfolio management responsibilities for the General Equity and Balanced strategies as well as the Worldwide Flexible Strategy.
Prior to joining the firm Rehana spent eleven years working for Prudential Investment Managers (currently known as M&G) and was a Director on PIMSA Institutional Board, Head of Equity Research, Portfolio Manager in their Select team and an analyst covering mining, retail and general financials sectors. Before this she worked for Deloitte firstly doing her accounting articles and secondly as a manager of the Special Services Group.
Rehana holds a Bachelor of Commerce in Accounting degree and a post graduate diploma in Accounting from the University of Cape Town. She is also a Chartered Accountant.
Note: This table includes ratings breakdown for securities held directly within the portfolio and excludes fixed income securities held through derivatives or ETFs.
Equity regional allocation (%)
North America
36.6%
Europe ex UK
15.8%
Asia ex-Japan
10.1%
Emerging Markets ex Asia
3.4%
UK
3.3%
Japan
3.1%
Equity sector allocation (%)
Information Technology
15.8%
Financials
15.7%
Industrials
7.1%
Health Care
6.3%
Communication Services
6%
Consumer Discretionary
4.1%
Materials
3.1%
Consumer Staples
2.1%
Energy
1.5%
Utilities
0.9%
Real Estate
0.7%
Equity derivatives
9%
The sector equity breakdown table relates to exposures held directly in the fund and excludes derivatives such as futures and options
Top bond holdings (%)
United States Treasury Note/bond 4.375 May 15 34
3.6%
United States Treasury Note/bond 4.625 May 15 54
2.6%
Japan Government Ten Year Bond 1.1 Jun 20 34
2.1%
Republic Of South Africa Government Bond 6.25 Mar 31 36
1.4%
New Zealand Government Bond 1.75 May 15 41
1.3%
United Kingdom Gilt 4.625 Jan 31 34
1.3%
Australia Government Bond 2.75 May 21 41
1.3%
Bundesrepublik Deutschland Bundesanleihe Feb 15 32
0.9%
Spain Government Bond 3.25 Apr 30 34
0.9%
Bundesrepublik Deutschland Bundesanleihe 2.5 Aug 15 46
0.8%
Top equity holdings (%)
NVIDIA Corp
3.9%
Taiwan Semiconductor Manufacturing Co Ltd
3.1%
Alphabet Inc
2.4%
Broadcom Inc
2.1%
Amazon.com Inc
1.9%
Apple Inc
1.6%
Microsoft Corp
1.6%
TKO Group Holdings Inc
1.5%
JPMorgan Chase & Co
1.4%
Tencent Holdings Ltd
1.1%
Top holdings (%)
Invesco Bloomberg Commodity Ucits Etf
5%
NVIDIA Corp
3.9%
United States Treasury Note/bond 4.375 May 15 34
3.6%
Taiwan Semiconductor Manufacturing Co Ltd
3.1%
United States Treasury Note/bond 4.625 May 15 54
2.6%
Alphabet Inc
2.4%
Japan Government Ten Year Bond 1.1 Jun 20 34
2.1%
Broadcom Inc
2.1%
iShares Physical Gold ETC
1.9%
Amazon.com Inc
1.9%
Portfolio statistics
Modified duration (years): 3.10
Number of bond holdings: 19
Number of equity holdings: 73
Distributions & yields
Distribution & yields
Distribution per unit
Important information
The information, views and opinions provided are general in nature, for informational purposes only, and should not be construed as advice.
No action should be taken without appropriate professional guidance. We do not act as advisors or in a fiduciary capacity.
While we strive for accuracy and timeliness, we make no guarantees as to completeness or correctness and are not obliged to update the information.
This material does not constitute a full summary of the risks associated with any product, fund, service or strategy.
Relevant risk disclosures are available in the applicable documents, which can be requested free of charge.
For details on specific funds, please refer to the relevant fact sheets.
For mandatory disclosures about this investment, further important information on indices, fund ratings, yields, targeted or projected performance returns, back tested results, model return results, hypothetical performance returns, the investment team, the investment process and specific portfolio names, please click here.
The Fund’s equity investments could be volatile and subject to high risk of loss. The Fund invests in debt securities that may be subject to credit/counterparty risk, interest rate risk, downgrading risk, sovereign default risk, valuation risk, credit rating risk, liquidity risk, risk associated with investment in Europe, currency risk and higher default risk in high yield / non-Investment Grade / unrated debt securities as well as other risks. Investing in other funds may incur additional costs and charges which may increase the total expense ratio and/or ongoing charges of the Fund.
The Fund may use derivatives for hedging, efficient portfolio management and/or investment purposes and may be subject to risks associated with derivatives such as credit, leverage, liquidity, valuation, volatility, over-the-counter transaction and counterparty risks. This may result in significant risk of loss when the use becomes ineffective.
The Inc-2 Share Classes may at the Board of Directors' discretion pay dividends gross of expense and therefore may effectively pay dividend out of capital. Payment of dividends out of capital amounts to a return or withdrawal of part of an investor’s original investment or from any capital gains attributable to that original investment. This may result in an immediate reduction of the net asset value per Share.
Reference Currency Hedged Share Class may be subject to risks arising from uncertainty in interest rate and foreign exchange.
In adverse situations, the Fund may suffer significant losses. It is possible that the original amount you invested could be lost.
Investors should not solely rely on this document to make investment decisions.