SA Unit Trust

Ninety One Managed Fund

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Objective

Investment objective summary

  • The Fund aims primarily for steady and stable total returns (the combination of income and capital growth). A secondary aim is to provide a reasonable level of current income
      • The Fund invests in a balanced manner across a range of asset classes including shares, property investments and property funds, gilts (fixed income securities issued by governments) and interest bearing securities (financial contracts evidencing ownership or debt) and cash
      • 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)

      Fund features

      • A balanced fund for investors who don't want to actively manage their own asset allocation
      • Flexible investment style and stock selection process
      • Managed in accordance with Regulation 28 of the Pension Funds Act 24 of 1956
      Gail Daniel
      Portfolio Manager
      Gail is a portfolio manager at Ninety One with responsibility for the Managed Strategy. She joined...

      Performance & returns

      Literature & factsheets

      Portfolio & Holdings

      Date as of 31/01/2026
      Sum Of Local Assets
      55.2
      Equities
      37.9
      Bonds
      11.8
      Commodities
      4.5
      FX
      3.4
      Cash / Money Market
      -2.4
      Sum Of Foreign Assets
      44.8
      Equities
      27.8
      Cash / Money Market
      13
      Bonds
      5.8
      Commodities
      1.5
      FX
      -3.3

      Distributions & yields

      Inclusive in the TER of 1.17%, a performance fee of 0.06% of the net asset value of the class of fund was recovered. The annual management fee is accrued daily, and the daily fee rate depends on fund performance over the previous 12 months (net of the A-class minimum annual fee rate) relative to a fee hurdle, the peer group median. If the fund underperforms this hurdle then the minimum annual fee rate applies. If the fund outperforms this hurdle then the annual fee rate is increased by 20% of the outperformance, subject to a minimum fee of 0.95% and a maximum fee of 3% p.a.

      Specific fund risks

      Currency exchange

      Changes in the relative values of different currencies may adversely affect the value of investments and any related income.

      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.

      Derivatives

      The use of derivatives is not intended to increase the overall level of risk. However, the use of derivatives may still lead to large changes in value and includes the potential for large financial loss. A counterparty to a derivative transaction may fail to meet its obligations which may also lead to a financial loss.

      Developing Market (excluding SA)

      Some of the countries in which the Fund invests may have less developed legal, political, economic and/or other systems. These markets carry a higher risk of financial loss than those in countries generally regarded as being more developed.

      Foreign Investment

      Investing in foreign securities may be subject to specific material risks pertaining to overseas jurisdictions and markets, including (but not limited to) potential constraints to local liquidity and the repatriation of funds, macroeconomic, political, tax, settlement risks, potential limitations on available market information and foreign exchange or currency fluctuations.

      Interest rate

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

      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.