Press / Media | Cadiz News
Cadiz Absolute Yield Fund - 2010 FM Morningstar Fund Awards Winner
18 March 2010
Bronwyn Blood, portfolio manager of the Cadiz Absolute Yield Fund, was thrilled to accept a 2010 Fund Award in the Cautious Balanced category at the Morningstar and Financial Mail awards ceremony.
The Cadiz Absolute Yield Fund, a flexible fixed interest fund, aims to provide investors with a return of inflation plus 3% over rolling three years and a positive return over any rolling twelve month period. It is the top performing Cautious Balanced fund with a return of 11.20% per annum for the three years ended 31 December 2009 (source: Morningstar). Importantly it also outperformed its rolling three year CPI+3% benchmark return of 11.18% per annum.
Commenting on this outperformance, portfolio manager Bronwyn Blood said; ‘While we rarely ‘shoot the lights out' over the short term, the fund has delivered solid, consistent performance over the longer term, as demonstrated by our receiving this award. The fund is expected to deliver, and has delivered more consistent returns than a traditional income fund, and to reduce the volatility normally inherent in the bond market. As a result the fund is ideally suited to conservative investors with a medium to longer term view.'
Blood concluded by stating that the fund is also particularly suited to those investors who do not want to make the complex asset allocation decision between the growing (in number and complexity) range of fixed interest instruments. In fact, the ability to make use of the myriad of available investment opportunities to diversify risk and to enhance the yield of a portfolio has proven extremely attractive and beneficial to investors (particularly given the increased volatility evident in the equity market).
Paul Hutchinson
18 March 2010
Notes to editors:
1. The 2010 Fund Award in the Cautious Balanced category is awarded to the fund with the best risk adjusted performance within this Morningstar category and is scored as follows: return score = 80% of total score; one year = 25% of total score, based on one year return percentile rank in Morningstar category; three year = 55% of total score, based on three year return percentile rank in Morningstar category; risk score = 25% of total score, based on three year Morningstar risk percentile rank in Morningstar category.
2.Bronwyn Blood has a B.Com. (Honours) (Economics) degree from the University of Natal. She started her career at INGS Barings / Bankers Trust in the UK in 2000 and then joined Old Mutual Specialised Finance where she worked as an equity lending dealer as well as a credit analyst during her four year tenure. She joined the fixed interest team at African Harvest Fund Managers in 2004 and is now a portfolio manager at Cadiz Asset Management. Photograph available on request.
3.Please contact Sonia Jamoulle on 021 657 8552 for further information.
