Cadiz Absolute Yield Fund
The fund aims to provide investors with a return of 3% in excess of inflation (CPI) over a rolling 3 years and a positive return over any rolling 12-month period. The fund is expected to deliver more consistent returns than an income fund and reduce the volatility inherent in the bond market. Great care is applied to protect the fund against incurring losses.
WHO THE FUND MAY BE SUITABLE FOR
- Investors seeking cash alternative to a bank deposit.
- Retirees who seek a managed exposure to income generating investments.
- Those seeking active management within the fixed-interest universe.
- Investors who have at least an 18-month or longer investment horizon.
INVESTOR NEED
Income and growth
BENCHMARK
Alexander Forbes Short Term Fixed Interest Index (STeFi)+2%
INVESTMENT VEHICLE
Unit trust
MAXIMUM EXPOSURE TO GROWTH ASSETS (EQUITY EXPOSURE)
Maximum of 20% in property and preference shares
RISK RATING
Low
TIME HORIZON
Medium term
ASSET CLASS(ES)
Property shares, preference shares, money market instruments, cash and bonds.
LAUNCH DATE
Wednesday, March 01, 2006
ASISA CLASSIFICATION (WHERE RELEVANT)
South African – Multi Asset Income
INCOME DISTRIBUTION / PAYMENT
Bi-annual (30 June, 30 December)
INVESTMENT MINIMUM
Lump sum: R5 000
Monthly: R500
Ad hoc: R500
REGULATION 28
Yes
CURRENCY AVAILABILITY
South African rand
PORTFOLIO MANAGER
Alastair Sellick
STATUS
Open
LIQUIDITY
Daily
INITIAL FEE
0.00%
MAXIMUM ADVISER INITIAL FEE
3.00% (excluding VAT)
ANNUAL MANAGEMENT FEE
0.80% (excluding VAT)
MAXIMUM ADVISER ONGOING FEE
1.00% (excluding VAT)
PERFORMANCE FEE
0.00%
TOTAL EXPENSE RATIO (TER)
See Fund Fact Sheet
Total Expense Ratio (TER) is a measure of the costs incurred within the fund. It is not an additional fee.