UNIT TRUSTS

RISK PROFILE:  Conservative

Fund Description

This is an actively managed, flexible fixed interest solution for conservative investors that have a two year investment horizon. The aim is to provide a high level of income greater than cash. Investment preservation is of primary importance and diversification across high yielding asset classes offers downside protection. It is allowed to invest offshore up to the prescribed offshore limit as per regulations. The solution is Regulation 28 compliant.

Fund Manager

This solution is managed by Terebinth Capital, a specialist fixed income asset manager either multiple hedge fund awards.

Investment Strategy

To determine asset allocation, Terebinth Capital applies a two-fold approach of combining macro analysis and quantitative precision. Their macro philosophy leads to low correlation with the broader market and lower volatility, the in-house quantitative skills ensure that within each asset class (bonds, money market instruments, preference shares and listed property) the best allocation strategy is implemented.

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RISK PROFILE: Cautious

Fund Description

This is a stable, low-equity multi-asset class solution for cautious investors with a three year investment horizon. The aim is to provide a reasonable level of income, while preserving your investment in real terms, with lower volatility over the medium to long term. It invests in a combination of equities, money market instruments, bonds, listed property, as well as international equities and fixed interest assets. The solution holds a maximum of 40% in equities (including offshore equities) and is Regulation 28 compliant.

Fund Manager

This solution is managed by Matrix Fund Managers, a diversified asset manager with a team of highly qualified and skilled investment managers boasting more than 140 years’ collective experience.

Investment Strategy

An active asset allocation and securities selection strategy applied through a bottom up approach with a focus on achieving stable returns. Matrix follow an agile, pragmatic approach to active investing with an unconstrained (benchmark agnostic) investment style resulting in strong risk adjusted returns.

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RISK PROFILE: Cautious

Fund Description

This is a multi-asset solution with a cautious risk profile for investors that have a three year investment horizon. The aim is two fold: to provide investment protection over a rolling one-year period, and generate income over the medium term at low levels of risk. It invests across different asset classes with exposure less than 40% for equities, 60% for bonds and 50% for cash. The solution is Regulation 28 compliant and may invest in listed and unlisted financial instruments (derivatives) and offshore investments to achieve its objective.

Fund Manager

This solution is managed by Truffle Asset Management, a diversified boutique asset manager which has been operating for over a decade by an experienced investment team.

Investment Strategy

This solution follows valuation-driven investment approach in every asset class (both domestic and foreign). The investment team follows a fundamental valuation-based philosophy and disciplined investment process, combined with a rigorous risk management approach to achieve the solutions dual objectives of capital protection and income generation.

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RISK PROFILE: Moderate

Fund Description

This is a medium equity multi-asset solution for moderate investors who have a four year investment horizon. The aim is to deliver positive real returns, while minimising the risk of investment losses over the medium term. It invests in a combination of equities, money market instruments, bonds, listed property, as well as international equities and fixed interest assets. The solution holds a maximum of 60% in equities (including offshore equities) and is Regulation 28 compliant.

Fund Manager

This solution is managed by Matrix Fund Managers, a diversified asset manager with a team of highly qualified and skilled investment managers boasting more than 140 years’ collective experience.

Investment Strategy

An active asset allocation and securities selection strategy is applied through a bottom up approach, with a focus on capital growth. Matrix follow an agile, pragmatic approach to active investing with an unconstrained (benchmark agnostic) investment style resulting in strong risk adjusted returns.

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RISK PROFILE: Moderate

Fund Description

This is a multi asset, high-equity solution with a moderate risk profile for investors with a five year investment horizon. The aim is to deliver long-term investment growth over time for investors by investing in a balanced manner across a broad range of asset classes such as equities, money market instruments, bonds, listed property, as well as international equities and fixed interest assets. The solution holds a maximum of 75% in equities (including offshore equities) and is Regulation 28 compliant.

Fund Manager

This solution is managed by Laurium Capital, an independent asset manager with a distinctly differentiated approach; an investment banking DNA combined with a finely-crafted skills set to take advantage of special situations and trading opportunities.

Investment Strategy

This solution invests in a diversified range of local and foreign asset classes. These asset classes include a combination of investments in the equity, fixed interest, bond, money market and property markets. The solution uses fundamental bottom-up research with a value bias, to generate a moderate portfolio.

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RISK PROFILE: Moderate Aggressive

Fund Description

This is an actively managed flexible asset allocation solution for moderate aggressive investors with an investment horizon greater than 5 years. The aim is to deliver equity-like returns at lower levels of risk due to it’s sound risk management framework. It will typically have a high allocation to growth assets, but will make extensive use of various hedging strategies (such as derivatives) to limit some of the downside risk associated with high equity allocations. The solution diversifies across other asset classes such as equity, property, cash and bonds to protect against potential market downturns.

Fund Manager

This solution is managed by Abax Investments, a diversified asset manager with a team of highly qualified and experienced investment managers, dedicated exclusively to active fund management.

Investment Strategy

To determine asset allocation, Abax Investments applies a top-down strategic asset allocation together with a bottom-up view of individual securities. These strategies combined with fundamental macro-economic analysis ensures Abax Investments derives an optimal asset allocation, aligned with their investment strategy. The investment team believes that earnings and dividend growth are the primary drivers of share price appreciation. Through bottom up fundamental research, the team is able to identify companies that are undervalued relative to their realistic growth prospective. Similarly, they can identify companies where current valuations overvalue their future earnings and dividend growth potential. This leads to effective equity selection decisions.

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RISK PROFILE: Aggressive

Fund Description

This is a pure equity strategy diversified across all sectors on the JSE and is applicable to aggressive investors who have a time horizon greater than 5 years. The investment manager screens the entire investment universe looking for companies that are undervalued relative to their realistic growth prospects with the aim of constructing a strategy that will achieve consistent market beating returns over the long-term but at lower levels of risk.

Fund Manager

This strategy is managed by Sentio Capital Management, who are passionate about financial markets and committed to providing clients with high risk-adjusted returns. Sentio has a team of investment professionals with recognised track records and global pedigrees.

Investment Strategy

Sentio Capital Management invests in companies that are undervalued relative to their realistic growth prospects. The investment manager is a bottom-up fundamental investor, which integrates detailed bottom up research (stock and portfolio level) with in-depth quantitative risk management. Sentio Capital Management is able to operate in variable market conditions as it is style-cognisant but not style constrained. Key to the success of the investment manager is that it has a strong focus on risk-adjusted returns over time, rather than a simplistic focus on returns with undue risk.

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