SA Unit Trust

Ninety One High Income Fund

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About the Fund

The High Income Fund aims to provide a high level of income by investing in investment grade corporate credit with a focus on capital preservation and enhanced returns.

Why choose this fund?

  • The fund is actively managed, with very low duration aiming to outperform the STeFI Composite Index (cash) through time
  • Given the fund’s low duration, capital is not sensitive to changes in interest rates
  • It may be suitable as an alternative to bank deposits or money market for investors requiring income

Fund explainer

Objective

Investment objective summary

  • The Fund aims primarily to provide a high level of income. The secondary aim is to maximise total return (the combination of income and capital growth)
      • The Fund invests primarily in high income bearing bonds (contracts to repay borrowed money which typically pay interest at fixed times), cash and other interest bearing securities (financial contracts evidencing ownership or debt)
      • Other investments may include the units of other funds and derivatives (financial contracts whose value is linked to the price of an underlying asset)

      Fund features

      • A specialist fixed-income fund
      • Aims to deliver lower volatility than a traditional bond fund
      • May be suitable for investors requiring income
      Bashier Omar
      Managing Director, Emerging Market Fixed Income
      Bashier is a portfolio manager in the Emerging Market Alternative Credit team at Ninety One. Prior...
      Stephen Naidoo
      Portfolio Manager
      Stephen is a portfolio manager in the Emerging Market Alternative Credit team at Ninety One. He...

      Performance & returns

      Literature & factsheets

      Portfolio & Holdings

      Date as of 31/01/2026
      Sum Of Local Assets
      100
      Bonds
      85.4
      Cash / Money Market
      14.6

      Distributions & yields

      Specific fund risks

      Default

      There is a risk that the issuers of fixed income investments (e.g. bonds) may not be able to meet interest payments nor repay the money they have borrowed. The worse the credit quality of the issuer, the greater the risk of default and therefore investment loss.

      Geographic / Sector

      Investments may be primarily concentrated in specific countries, geographical regions and/or industry sectors. This may result in wider fluctuations in the value of the portfolio compared to more broadly invested portfolios.

      Interest rate

      The value of fixed income investments (e.g. bonds) tends to decrease when interest rates rise.

      Liquidity

      There may be insufficient buyers or sellers of particular investments giving rise to delays in trading and the ability to settle trades, and/or large fluctuations in value. This may lead to larger financial losses than might be anticipated.

      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.