SA Unit Trust

Ninety One Opportunity Fund

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Objective

Investment objective summary

  • The Fund aims to provide capital growth
      • The Fund invests in equities (e.g. company shares), cash and bonds (contracts to repay borrowed money which typically pay interest at fixed times). The Fund will manage its investments in these asset classes in an active and aggressive style. The Fund can invest up to 75% of its value in equities
      • 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

      • The fund has a focus on capital growth and absolute returns through active asset allocation and is managed in accordance with Regulation 28 of the Pension Funds Act 24 of 1956
      • Seeks to provide lower volatility than traditional balanced funds, but with sufficient equity to provide scope for capital growth over the medium to long term
      • Stock selection is oriented towards a quality approach, seeking to deliver consistent performance through the business cycle
      Clyde Rossouw
      Head of Quality
      Clyde is Head of Quality at Ninety One, based in Cape Town. He is lead portfolio...

      Performance & returns

      Literature & factsheets

      Portfolio & Holdings

      Date as of 31/01/2026
      Sum Of Local Assets
      64.7
      Equities
      30.3
      Bonds
      17.5
      Cash / Money Market
      8.1
      Commodities
      4.5
      FX
      4.3
      Sum Of Foreign Assets
      35.3
      Equities
      34.1
      Cash / Money Market
      4.1
      Property
      1.2
      FX
      -4.1

      Distributions & yields

      Inclusive in the TER of 2.25%, a performance fee of 1.35% of the net asset value of the class of fund was recovered. The annual management fee is calculated daily. The daily performance fee depends on fund performance over the previous 12 months relative to CPI +2%. When gross performance equals the fund’s target of CPI + 6%, the fee rate is 1.38% p.a. For every percentage outperformance or underperformance of CPI + 6%, the performance fee is proportionately increased or decreased by 0.2%, subject to a minimum fee of 0.75% and a maximum fee of 2.25%.

      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.

      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.