GSF Lux SICAV

Sterling Money

Latest NAV Price

30.02
18 September 2020

NAV daily change %

0.00

Dealing currency

GBP

Fund size

GBP 184.85 M
28 August 2020

Latest NAV Price

30.02
18 September 2020

NAV daily change %

0.00

Dealing currency

GBP

Fund size

GBP 184.85 M
28 August 2020

Objective

Investment objective summary

  • The Fund aims to provide a sterling income return at the rate available in the wholesale Eurocurrency market (the market in which currencies are borrowed and lent outside of the country in which those currencies are legal tender, e.g. a bank outside of the US borrowing or lending US dollars).
      • The Fund is a short-term, variable net asset value money market fund and while it aims to preserve capital, this is not guaranteed.
      • The Fund normally invests in bank deposits repayable within six months and money market instruments (tradable securities where money can be invested for short periods) with a lifespan of up to one year.
      • The Fund’s investments are priced or hedged (an investment technique which aims to protect the value of an investment against currency movements) back into sterling.
      Russell Silberston
      Portfolio Manager
      Russell is a senior research analyst covering major economy central bank monetary policy, focusing primarily on...
      Johan Du Plessis
      Portfolio Manager
      Johan is a portfolio manager within the Multi-Asset team at Ninety One with a particular focus...

      Performance & returns

      18/09/2020
      The value of investments, and any income generated from them, can fall as well as rise. Past performance is not a reliable indicator of future results. If the currency shown differs from your home currency, returns may increase or decrease as a result of currency fluctuations. Investment objectives and performance targets may not necessarily be achieved, losses may be made. We recommend that you seek independent financial advice to ensure this Fund is suitable for your investment needs. Where a shareclass has been in existence for less than 12 months, performance is not disclosed. No representation is being made that any investment will or is likely to achieve profits or losses similar to those achieved in the past, or that significant losses will be avoided. The Trailing Returns chart may use different Sector performance start dates compared to other performance charts or other marketing literature which may result in minor differences.

      Key facts & Downloads

      • Domicile

        Luxembourg
      • Risk profile

        1
      • ISIN

        LU0898848295
      • SEDOL

        B90YQH3
      • CUSIP

        L5447S352
      • Bloomberg code

        INVISGD
      • Benchmark

        LIBID 1Week GBP
      • Morningstar category sector

        GBP Money Market - Short Term
      • Fund inception date

        25/01/1985
      • Share class inception date

        14/06/2013
      • Minimum investment

        USD100,000,000 / equivalent approved currency
      • Valuation & transaction cut-off

        16:00 New York Time (forward pricing)

      Portfolio & Holdings

      Date as of 31/08/2020
      Treasury Notes
      57.6
      Commercial Paper
      13.5
      Certificates Of Deposit
      11.4
      Cash
      17.5

      Distributions & yields

      Most recent distribution payments
      Distribution amount
      GBP0.0634
      Declaration Date
      30 June 2020
      Ex-distribution date
      01 July 2020
      Payable date
      15 July 2020
      Yield data as of 31/08/2020
      Net historic yield %
      0.86

      Charges

      Maximum initial charge %

      10.00

      Ongoing charge %

      0.12
      The Fund may incur further expenses (not included in the above Ongoing charge) as permitted by the Prospectus. Ninety One does not retain any portion of the initial charge paid by you when buying shares in the Fund. Where you have agreed to pay an initial fee to your financial advisor or other intermediary, this will be deducted as agreed and instructed.

      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.

      Government securities exposure

      The Fund may invest up to 100% of its assets in securities issued or guaranteed by a permitted sovereign entity, as defined in the definitions section of the Fund’s prospectus.

      Interest rate

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

      Money Market Funds

      These investments differ from deposits as the amount invested is not guaranteed; the value of investments may rise and fall. The Fund does not receive external support to help keep its value stable nor guarantee its liquidity, for example its investments can be easily converted to cash. The risk of loss is borne by the investor.

      All information provided is product related, and is not intended to address the circumstances of any particular individual or entity. We are not acting and do not purport to act in any way as an advisor or in a fiduciary capacity. No one should act upon such information without appropriate professional advice after a thorough examination of a particular situation.

      Collective investment scheme funds are generally medium to long term investments and the manager, Ninety One Fund Managers SA (RF) (Pty) Ltd, gives no guarantee with respect to the capital or the return of the fund. The value of participatory interests (units) may go down as well as up. Funds are traded at ruling prices and can engage in borrowing and scrip lending. The fund may borrow up to 10% of fund net asset value to bridge insufficient liquidity. A schedule of charges, fees and advisor fees is available on request from the Manager which is registered under the Collective Investment Schemes Control Act. Additional advisor fees may be paid and if so, are subject to the relevant FAIS disclosure requirements. Performance shown is that of the fund and individual investor performance may differ as a result of initial fees, actual investment date, date of any subsequent reinvestment and any dividend withholding tax. Fluctuations or movements in exchange rates may cause the value of underlying international investments to go up or down. Where the fund invests in the units of foreign collective investment schemes, these may levy additional charges which are included in the relevant Total Expense Ratio (TER). A higher TER does not necessarily imply a poor return, nor does a low TER imply a good return. The ratio does not include transaction costs. The current TER cannot be regarded as an indication of the future TERs. Additional information on the funds may be obtained, free of charge, at www.ninetyone.com. Ninety One SA (Pty) Ltd is an authorised financial services provider and a member of the Association for Savings and Investment SA (ASISA).
       
      A feeder fund is a fund that, apart from assets in liquid form, consists solely of units in a single fund of a collective investment scheme which levies its own charges which could then result in a higher fee structure for the feeder fund.

      Money Market funds are not a bank deposit account. The price of each unit is aimed at a constant value. The total return to the investor is primarily made up of interest received and may also include any gain or loss made on any particular instrument.  In most cases this will merely have the effect of increasing or decreasing the daily yield, but in an extreme case it can have the effect of reducing the capital value of the fund.

      Offshore funds are sub-funds in the Investec Global Strategy Fund, 49 Avenue J.F. Kennedy, L-1855 Luxembourg, Grand Duchy of Luxembourg.

      Performance data source: © Morningstar.
      SA unit trusts: NAV-NAV, net of fees, gross income reinvested, in ZAR.
      GSF funds: NAV based, (net of fees, excluding initial charges), total return, in the share class dealing currency. Performance would be lower had initial charges been included.

      Morningstar Analyst rating™: Copyright © 2020. Morningstar. All Rights Reserved. The information, data and opinions expressed and contained herein are proprietary to Morningstar and/or its content providers and are not intended to represent investment advice or recommendation to buy or sell any security; are not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this Rating, Rating Report or Information contained therein.

      The overall rating for a fund, often called the ‘star rating’, is a third party rating derived from a quantitative methodology that rates funds based on an enhanced Morningstar™ Risk-Adjusted Return measure. ‘Star ratings’ run from 1 star (lowest) to 5 stars (highest) and are reviewed at the end of every calendar month. The various funds are ranked by their Morningstar™ Risk-Adjusted Return scores and relevant stars are assigned. It is important to note that individual share classes of each fund are evaluated separately and their ratings may differ depending on the launch date, fees and expenses relevant to the share class. In order to achieve a rating the share class of a fund must have a minimum three-year performance track record.

      For a full description of the ratings, please see our ratings guide. A rating is not a recommendation to buy, sell or hold a fund.

      The portfolio may change significantly over a short period of time. This is not a buy or sell recommendation for any particular security. Figures may not always sum to 100 due to rounding.

      For an explanation of statistical terms, please see our glossary.