Allan Gray Africa ex-SA Bond Fund

Fund description

The Fund invests in a focused portfolio of African (excluding South Africa) securities that are selected for their expected risk and return profile. The Fund may invest a substantial portion of the assets in a single country or region rather than a diversified portfolio of assets.

Fund objective and benchmark

The Fund seeks to achieve the maximum US dollar total return while minimising the risk of loss within the context of an African bond fund. The benchmark is the J.P. Morgan GBI-EM Global Diversified Index. This index tracks the total returns for Emerging Markets local-currency-denominated sovereign bonds.

Suitable for those investors who:

  • Seek exposure to African interest bearing assets
  • Are comfortable with market and currency fluctuations
  • Are prepared to take on the risk of capital loss
  • Typically have an investment horizon of more than five years

Capacity

The Investment Manager may, at its discretion, refuse a subscription or phase a subscription into the Fund over a number of Dealing Days.

LATEST FUND PRICE

Date
NAV in Fund currency: US$
06-Dec-18
128.17
30-Nov-18
127.91
29-Nov-18
127.71

 

Reportable income for UK investors

Click here to view a report which provides the income information relevant for tax reporting should you be liable for tax in the UK.

 

What are the costs?

All the Africa ex-SA Bond Fund’s expenses, including the investment management fee, are deducted before performance figures are calculated. There are no separate or additional costs. Since inception, the expenses deducted were:

1.00%

Management fees1

1.00%

Benchmark performance

+
0.00%

Out- or underperformance4

+
0.03%

Other expenses2

=
1.03%

Total expense ratio (TER)3

+
0.00%

Transaction costs

=
1.03%

Total investment charge

1 The management fees consists of a fixed fee of 1%.

2 This includes audit fees, custody fees, taxes and other administration costs.

3 This is a measure of the actual costs that have been deducted from the unit trust over the past three years to 30 June  2018 (annualised).

4 The portion of the investment management fee that is charged for performance above or below the benchmark performance.

Note: There may be slight discrepancies in the totals due to rounding.

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By selecting one of the countries below I confirm that I have read and understood the above and that:

(a) I am not a South African citizen; or 
(b) I do not reside in the Republic of South Africa; or 
(c) I am not otherwise a person to whom the communication of the information contained in this website is prohibited by the laws of my home jurisdiction; and 
(d) I am not acting for the benefit of any such persons mentioned in (a),(b) and (c) and 
(e) I confirm that any investment with Allan Gray is based on my own initiative and not due to any offer or solicitation by Allan Gray.