Investec Absolute Income Fund :: Invest In Your Future

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Investec Absolute Income Fund

Investment objective

The Investec Absolute Income Fund targets inflation-beating returns measured over two ear periods, while actively managing downside risk.

Strategy

The fund may invest in the full range of South African fixed-income assets. These include government, corporate and inflation-linked bonds as well as listed property and cash. The fund aims to achieve its performance by identifying investment opportunities across the interest rate spectrum. Significant portions of the portfolio are protected from negative returns using financial instruments such as bond index futures and options (purchased only). The aim is to preserve capital in the event of a downward move in the market.

Fund features

Strong focus on capital preservation and absolute returns
Low probability of negative returns over six month periods
Adds value regardless of the direction of interest rates
Compelling alternative to money market and smoothed bonus funds
A conservative investment solution for investors seeking capital preservation over the short term
Compliant with Regulation 28 of the Pension Funds Act, therefore suitable for retirement funds

Key Facts

Portfolio manager: Malcolm Charles and John Stopford
Launch date: 1 July 2003
Sector: Domestic FI Varied Specialist
Size of fund: R2.5 billion
Benchmark: Headline CPI+3% pa (under current market conditions) measured net of fees over 2 years
Minimum investment: R10 000 lump sum or R500 monthly debit order

Fees

	A Class	B Class
Initial fund fee	0%*	0%
Initial advisor fee	0.60%*	0%
Annual management fee	1.00%	1.00%

*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	1.15%	1.13%

Income distribution

Income distribution dates
March, June, September, December

Previous income distribution for 3 months to 30 September 2009
A Class: Interest distribution 2.18 cpu
B Class: Interest distribution 2.17 cpu

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Collective Investment Schemes in Securities (CIS) are generally medium to long term investments. The value of participatory interests may go down as well as up and past performance is not necessarily a guide to the future. CIS are traded at ruling prices and can engage in borrowing and scrip lending. A schedule of fees and charges and maximum commissions is available on request from the company/scheme. Commission and incentives may be paid and if so, would be included in the overall costs. Forward pricing is used. Investec Fund Managers SA Ltd is a member of the Association for Savings & Investment SA.

All information and opinions provided are of a general nature and are not intended to address the circumstances of any particular individual or entity. We are not acting and do not purport to act in any way as an advisor or in a fiduciary capacity. No one should act upon such information or opinion without appropriate professional advice after a thorough examination of a particular situation. We endeavour to provide accurate and timely information but we make no representation or warranty, express or implied, with respect to the correctness, accuracy or completeness of the information and opinions. We do not undertake to update, modify or amend the information on a frequent basis or to advise any person if such information subsequently becomes inaccurate. Any representation or opinion is provided for information purposes only. Investec Asset Management is an authorised financial services provider.

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