Offshore Funds (UCITS)

Global Managed Income

Morningstar Rating™

3

A defensive total return fund for today’s unpredictable markets

Reasons to invest

  • Takes a defensive approach - focusing on seeking consistent returns with limited drawdowns
  • Seeks to generate most of its returns through income - historically a more reliable source of return
  • Truly diversified – focusing on asset classes’ likely performance behaviour, rather than their labels
  • Actively risk managed – seeking to compound returns by managing downside

Fund explainer

Objective

Investment objective summary

  • The Fund aims to provide income with the opportunity for capital growth (i.e. to grow the value of your investment) over the long-term.
      • The Fund seeks to limit volatility (the pace or amount of change in its value) to be lower than 50% of the volatility of global equities. While the Fund aims to limit its volatility to be lower than 50% of global equities there is no guarantee that this will be achieved over the long-term, or over any period of time.
      • The Fund is actively managed and invests in a broad range of assets around the world.
      • The Fund promotes environmental and social characteristics in line with Article 8 of the EU Sustainable Finance Disclosure Regulation (SFDR). The Fund will not invest in certain sectors or investments. Over time, the Investment Manager may, in accordance with the Fund’s investment policy, apply additional exclusions to be disclosed on the website, as they are implemented.

      Fund features

      • A defensive total return fund with sustainable income at its core
      John Stopford
      Head of Multi-Asset Income
      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 co-portfolio manager across Income strategies, having been responsible for such mandates since joining...

      Performance & returns

      Literature

      Portfolio & Holdings

      Date as of 31/05/2026
      Fund
      Far East ex Japan
      30.6
      Emerging Markets
      21.2
      United Kingdom
      15
      United States
      14.9
      Europe ex UK
      6.8
      Other International
      -0.3
      Other
      10.2
      Cash and near cash
      1.6

      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.

      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 guide.

      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.