We use cookies to personalise content and ads to deliver the best possible web experience. By continuing to use this site, you agree that we may store and access cookies on your device. You can change your preferences at any time on your browser. For more detail, click here to view our cookie policy.

Generic Links

Welcome to RL360's

dedicated financial adviser website

For financial advisers only

Not to be distributed to, or relied on by, retail clients

Change to investment policy – Investec Global Multi-Asset Income Fund

Investec has announced a change to the investment policy of its Investec Global Multi-Asset Income Fund (the "Fund") which will take effect from 29 November 2019.

Impacts on
these guided-architecture products

Impacts on
open architecture products including

  • PIMS
  • Choice
  • Select

What is changing?

Following a review, Investec have decided to make changes to the investment policy of the Fund to more accurately reflect how the Fund is managed by the Investment Manager, Investec Asset Management Limited.


1. The introduction of a limit of 25% of the net asset value of the Fund that may be invested in fixed interest instruments of issuers in emerging and frontier markets.


2. the removal of the Fund’s power to invest in contingent convertible bonds


3. A reduction in the maximum stated equity exposure from 50% to 40% of the net asset value of the Fund.


Please note, Investec have stated that these changes to the investment policy neither change the Investment Manager’s investment philosophy and investment process nor alter the risk profile of the Fund.


The Fund can be found in our guided architecture products Oracle, Paragon, Quantum, Quantum Malaysia, Regular Savings Plan and Regular Savings Plan Malaysia. A comparison of the current investment policy and the revised changes that will be applied to the Fund are detailed in the table below.


You can view a copy of the Investec notification documents opposite.



Current investment policy

New investment policy

The Sub-Fund aims to provide income with the opportunity for long-term capital growth.


The Sub-Fund will invest primarily in a diversified portfolio of fixed interest instruments, equities and derivatives, the underlying assets of which are fixed interest instruments and equities. Normally, the Sub-Fund’s maximum equity exposure will be limited to 50% of its assets.


Fixed interest instruments held may be (i) issued by companies, institutions, governments, government agencies or supranational bodies around the world (including but not limited to emerging and frontier type markets), (ii) of any duration, and (iii) of Investment Grade and/or Non-Investment Grade.


The Sub-Fund’s exposure to Contingent Convertibles (CoCos) will not represent more than 10% of the assets of the Sub-Fund.


The Sub-Fund may hold other transferable securities, money market instruments, cash or near cash, derivatives, deposits and units in collective investment schemes.


The Sub-Fund may use derivatives for efficient portfolio management, hedging and/or investment purposes.

The Sub-Fund aims to provide income with the opportunity for long-term capital growth.


The Sub-Fund will invest primarily in a diversified portfolio of fixed interest instruments, equities and derivatives, the underlying assets of which are fixed interest instruments and equities. Normally, the Sub-Fund’s maximum equity exposure will be limited to 40% of its assets.


Fixed interest instruments held may be (i) issued by companies, institutions, governments, government agencies or supranational bodies around the world (including emerging and frontier type markets), (ii) of any duration, and (iii) of Investment Grade and/or Non-Investment Grade. The Sub-Fund’s maximum exposure to issuers of emerging and frontier markets fixed interest instruments will be limited to 25% of its assets.


The Sub-Fund may hold other transferable securities, money market instruments, cash or near cash, derivatives, deposits and units in collective investment schemes.


The Sub-Fund may use derivatives for efficient portfolio management, hedging and/or investment purposes.


_______________________________________________________________________

For more information you can see the notification from Investec Asset Management opposite or visit www.investecassetmanagement.com

Notifications