UK OEIC

Global Macro Allocation

E
Enhanced Integration

Latest NAV Price

243.3400
29 February 2024

NAV daily change %

0.05

Dealing currency

GBX

Fund size

GBP 92.16 M
29 February 2024

Latest NAV Price

243.3400
29 February 2024

NAV daily change %

0.05

Dealing currency

GBX

Fund size

GBP 92.16 M
29 February 2024

Objective

Investment objective summary

  • The Fund aims to provide total returns comprised of capital growth (to grow the value of your investment) and income over at least 5 years.
      • While the Fund aims to achieve a positive return, there is no guarantee it will be achieved over 5 years or over any period of time and there is risk of loss.
      • The Fund invests in a broad range of assets around the world. These assets may include shares of companies (which may be of any size and in any industry sector), bonds (or similar debt-based assets), commodities, property and other alternative assets (such as hedge funds, infrastructure funds and private equity funds). Investments indirectly (e.g. using derivatives (financial contracts whose value is linked to the price of an underlying asset), exchange traded products and/or through funds).
      • The Fund’s performance can be compared to a return of 7% each year in GBP. We believe it is a reasonable reference point by which to measure the Fund’s returns based on current market conditions and the principal asset types available for investment. Fund performance can also be compared to the IA sector average. Many funds sold in the UK are grouped into sectors by the Investment Association (the trade body that represents UK investment managers), to facilitate comparison between funds with broadly similar characteristics.
      Jimmy Elliot
      Portfolio Manager
      Iain Cunningham
      Head of Multi-Asset Growth
      Alex Holroyd-Jones
      Portfolio Manager

      Performance & returns

      Key facts

      • Domicile

        United Kingdom
      • ISIN

        GB00B2Q1JB44
      • Risk profile

        5
      • SEDOL

        B2Q1JB4
      • Fund inception date

        07/01/1994
      • Share class inception date

        03/03/2008
      • Performance reference

        7% p.a. (GBP)
      • IA sector

        IA Flexible Investment
      • Minimum investment

        GBP1,000,000
      • Valuation point

        12 noon (forward pricing)
      • Ninety One Sustainability Classification

        Enhanced Integration

      Portfolio & Holdings

      Date as of 31/01/2024
      New Zealand Government Bond 1.5 May 15 31
      4.0
      New Zealand Government Bond 1.75 May 15 41
      3.8
      Bundesrepublik Deutschland Bun 2.6 Aug 15 33
      1.6
      Mexico Government International 3.5 Feb 12 34
      1.6
      Republic of South Africa 8.875 Feb 28 35
      1.2
      Bundesrepublik Deutschland Bun Aug 15 52
      1.1
      Chile Government International 2.55 Jul 27 33
      1.1
      Bundesrepublik Deutschland Bun 1.8 Aug 15 53
      1.1
      Brazilian Government Internati 6 Oct 20 33
      1.0
      New Zealand Government Bond 2.75 May 15 51
      0.4

      Charges

      Maximum initial charge %

      0.00

      Ongoing charge %

      0.92
      The Fund may incur further expenses (not included in the above Ongoing charge) as permitted by the Prospectus.

      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 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.

      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

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

      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 for GSF Luxembourg domiciled funds and net income reinvested where applicable for OEIC United Kingdom domiciled funds, 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.

      For a full description of the Morningstar rating for funds, please see the attached guide. A rating is not a recommendation to buy, sell or hold a fund.

      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.

      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.