GSF Lux SICAV

Global Multi-Asset Income

Latest NAV Price

186.68
03 December 2020

NAV daily change %

0.13

Dealing currency

ZAR

Fund size

ZAR 28.63 B
30 November 2020

Latest NAV Price

186.68
03 December 2020

NAV daily change %

0.13

Dealing currency

ZAR

Fund size

ZAR 28.63 B
30 November 2020

Objective

Investment objective summary

  • The Fund aims to provide income with the opportunity for long-term capital growth.
      • The Fund invests primarily in a mix of assets including: bonds (contracts to repay borrowed money which typically pay interest at fixed times), the shares of companies and related derivatives (financial contracts whose value is linked to the price of an underlying asset). Normally the Fund will invest no more than 40% of its value in the shares of companies.
      • The Fund may currently invest up to 10% of its value in mainland China. The Investment Manager may decide to increase this limit to 20% but will give investors prior written notice before doing so. Derivatives may be used for investment purposes (i.e. in order to achieve the Fund's investment objectives) or for efficient portfolio management purposes e.g. with the aim of either managing the Fund risks or reducing the costs of managing the Fund.
      John Stopford
      Portfolio Manager
      John is Head of Multi-Asset Income at Ninety One. He is co-portfolio manager of the Multi-Asset...
      Jason Borbora-Sheen
      Portfolio Manager
      Jason is a portfolio manager in the Multi-Asset team at Ninety One. He is co-portfolio manager...

      Performance & returns

      03/12/2020
      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. Where a benchmark index is calculated on a monthly basis, the returns will be out of line with the fund and/or sector which are calculated daily.

      Portfolio & Holdings

      Date as of 31/10/2020
      Index
      Fund
      AAA
      AA
      A
      BBB
      BB
      B
      CCC
      *Bond ratings are Ninety One approximations.

      Charges

      Maximum initial charge %

      3.00

      Ongoing charge %

      2.55
      The Fund may incur further expenses (not included in the above Ongoing charge) as permitted by the Prospectus.

      Specific fund risks

      Charges from capital

      For Inc-2 and Inc-3 shares classes, expenses are charged to the capital account rather than to income, so capital will be reduced. This could constrain future capital and income growth. Income may be taxable.

      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 may increase overall risk by magnifying the effect of both gains and losses leading to large changes in value and potentially large financial loss. A counterparty to a derivative transaction may fail to meet its obligations which may also lead to a financial loss.

      Emerging market (inc. China)

      These markets carry a higher risk of financial loss than more developed markets as they may have less developed legal, political, economic or other systems.

      Equity investment

      The value of equities (e.g. shares) and equity-related investments may vary according to company profits and future prospects as well as more general market factors. In the event of a company default (e.g. insolvency), the owners of their equity rank last in terms of any financial payment from that company.

      Government securities exposure

      The Fund may invest more than 35% 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 differential

      This share class is intended for investors whose currency of investment matches that of the share class. Investors whose currency of investment is different, should be aware of the foreign exchange risk that is created.

      Interest rate

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

      Distribution & yields

      Most recent distribution payments
      Distribution amount
      ZAR1.2325
      Declaration Date
      30 November 2020
      Ex-distribution date
      01 December 2020
      Payable date
      14 December 2020
      Yield data as of 31/10/2020
      Yield %
      7.69
      Adjusted yield %
      5.14

      We recommend that you seek independent financial advice to ensure this Fund is suitable for your investment needs.

      All the information contained in this communication is believed to be reliable but may be inaccurate or incomplete. Any opinions stated are honestly held but are not guaranteed and should not be relied upon.

      This communication is provided for general information only. It is not an invitation to make an investment nor does it constitute an offer for sale. The full documentation that should be considered before making an investment, including the Prospectus and Key Investor Information Documents, which set out the Fund specific risks, are available from Ninety One. This Fund should be considered as a long-term investment.

      Performance data source: © Morningstar, 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 as an initial charge of up to 5% (10% for S shares) may be applied to your investment. This means that for an investment of $1,000, where the initial charge equals 5%, $950 ($900 for S shares) would actually be invested in the Fund. Returns to individual investors will vary in accordance with their personal tax status and tax domicile.

      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 shareclasses of each fund are evaluated separately and their ratings may differ depending on the launch date, fees and expenses relevant to the shareclass. 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.