Cadiz BCI Absolute Yield Fund
The objective is to provide investors with a diversified exposure to the South African bond market and aims to offer a balance between capital growth and income for a
maximum overall return.
Winner of the 2010 and 2011 Morningstar Fund Awards in the Cautious Balanced and Cautious Allocation categories, respectively.
Who the fund may be suitable for
Investors seeking a cash alternative to a bank deposit.
Investors who seek a managed exposure to income generating investments.
Those seeking active management within the fixed-interest universe.
Investors who have an 18 month or longer investment horizon.
Fund information
INVESTOR NEED
Income and growth
BENCHMARK
SteFI Composite + 2% p.a.
INVESTMENT VEHICLE
Unit trust
WHAT DOES THE FUND INVEST IN:
The fund can invest in a combination of assets, such as government and corporate bonds, inflation linked bonds, listed property and cash both in South Africa and offshore. Derivative strategies such as swaps and futures may also be used for efficient portfolio management purposes and to mitigate downside risk. The fund does not invest in ordinary shares.
The intended maximum limits, (see underlying instruments mentioned below), may not exceed 25% of the value of fund:
The fund has a flexible mandate with no duration or maturity limits for its investments.
RISK RATING
Low
TIME HORIZON
18 months or longer
ASSET CLASS(ES)
Bonds, cash, money market instruments, property shares and preference shares.
Income and growth
BENCHMARK
SteFI Composite + 2% p.a.
INVESTMENT VEHICLE
Unit trust
WHAT DOES THE FUND INVEST IN:
The fund can invest in a combination of assets, such as government and corporate bonds, inflation linked bonds, listed property and cash both in South Africa and offshore. Derivative strategies such as swaps and futures may also be used for efficient portfolio management purposes and to mitigate downside risk. The fund does not invest in ordinary shares.
The intended maximum limits, (see underlying instruments mentioned below), may not exceed 25% of the value of fund:
- Listed property: up to 10%
- International assets: up to 10%
- Preference shares: up to 10%
- Hybrid instruments: up to 5%
The fund has a flexible mandate with no duration or maturity limits for its investments.
RISK RATING
Low
TIME HORIZON
18 months or longer
ASSET CLASS(ES)
Bonds, cash, money market instruments, property shares and preference shares.
LAUNCH DATE
1 March 2006
ASISA CLASSIFICATION
ASISA SA Multi Asset Income
INCOME DISTRIBUTION / PAYMENT
Quarterly (31 March, 30 June, 30 September, 31 December)
INVESTMENT MINIMUM
Lump sum: R5 000
Monthly: R500
Ad hoc: R500
REGULATION 28
Yes
CURRENCY AVAILABILITY
South African rand
PORTFOLIO MANAGERS
Sidney McKinnon
Hope Sono
STATUS
Open
LIQUIDITY
Daily
1 March 2006
ASISA CLASSIFICATION
ASISA SA Multi Asset Income
INCOME DISTRIBUTION / PAYMENT
Quarterly (31 March, 30 June, 30 September, 31 December)
INVESTMENT MINIMUM
Lump sum: R5 000
Monthly: R500
Ad hoc: R500
REGULATION 28
Yes
CURRENCY AVAILABILITY
South African rand
PORTFOLIO MANAGERS
Sidney McKinnon
Hope Sono
STATUS
Open
LIQUIDITY
Daily
Cadiz Initial Fee
NIL
Cadiz Annual Management Fee
0.80% (excluding VAT)
Cadiz Performance Fee
NIL
Advisor Maximum Initial Fee
3.00% (excluding VAT)
Advisor Maximum Ongoing Fee
1.00% (excluding VAT)
Total Expense Ratio (TER)
See Fund Fact Sheet
NIL
Cadiz Annual Management Fee
0.80% (excluding VAT)
Cadiz Performance Fee
NIL
Advisor Maximum Initial Fee
3.00% (excluding VAT)
Advisor Maximum Ongoing Fee
1.00% (excluding VAT)
Total Expense Ratio (TER)
See Fund Fact Sheet