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Investec Absolute Balanced Fund
Investment objective
The Investec Absolute Balanced Fund targets inflation-beating returns measured over three year periods, while actively managing downside risk.
Strategy
The fund invests in a mix of South African equities, bonds and money market instruments. Regulation 28 currently limits equity exposure to 75% of the fund (90% with listed property). Significant portions of the fund are however protected from negative returns using financial instruments such as equity and bond index futures. The aim is to preserve capital from a downward move in the market.
Fund features
- Strong focus on capital preservation and absolute returns
- Low probability of negative returns over 12 month periods
- Preserves wealth in real terms, regardless of whether markets are rising or falling
- Compliant with Regulation 28 of the Pension Funds Act, therefore suitable for retirement funds
Key Facts
Portfolio manager: Clyde Rossouw
Launch date: 1 July 2003
Sector: Domestic AA Targeted Absolute and Real Return
Size of fund: R1.5 billion
Target Return: Headline CPI +4% pa (under current market conditions) measured net of fees over 3 year periods
Minimum investment: R10 000 lump sum or R500 monthly debit order
Fees
| A Class | B Class | |
| Initial fund fee | 0% | 0% |
| Initial advisor fee | 3.00%* | 0% |
| Annual management fee | 1.50% | 1.50% |
*Negotiable
Fees are shown excluding VAT
Total expense ratio (TER)*
The TERs for this fund are listed below. TERs shown are including VAT.
| A Class | B Class | |
| TER | 1.71% | 1.60% |
Income distribution dates
March & September
Previous income distribution for 6 months to 30 September 2009
A Class: Net dividend 0.43 cpu
B Class: Net dividend 0.40 cpu
A Class: Interest distribution 1.52 cpu
B Class: Interest distribution 1.56 cpu