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Foord Flexible Fund of Funds

Investment Objective

The fund seeks to provide investors with a net-of-fee return of 5% per annum above the annual change in the South African Consumer Price Index, measured over rolling three-year periods. It aims to achieve this objective by exploiting the benefits of global diversification in a portfolio that continually reflects Foord Asset Management’s prevailing view on all available asset classes, both in South Africa and abroad.

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Investor Profile

Investors with a moderate risk profile who require long-term inflation-beating total returns from a dynamically managed multi-asset class portfolio. It is appropriate for investors seeking a balanced exposure to domestic and foreign assets, according to Foord’s best investment view.

Performance history   Info

Fund Characteristics

Benchmark

The annual change in the SA Consumer Price Index (CPI) plus 5%.

significant restrictions

None. The fund is unconstrained.

Income Distributions

End-February and end-August each year.

Income Characteristics

Low to medium income yield depending on the asset allocation strategy employed as the foreign asset component is invested in a roll-up funds that do not distribute income. The income yield is affected by the level of performance fees accrued.

Portfolio Orientation

Exploiting the benefits of global diversification, the portfolio continually reflects Foord’s prevailing best investment view on all available asset classes in South Africa and around the world.

Foreign Assets

Foreign asset exposure is obtained via the Foord International Fund (FIF) and Foord Global Equity Fund Luxembourg (FGEFL), sub-funds of Foord SICAV domiciled in Luxembourg. FIF is a conservative, multi-asset class fund while FGEFL comprises a portfolio of global shares and cash. Both funds are priced in US dollars.

Risk of loss

Lower than that of a pure equity fund. High in periods shorter than six months, lower in periods greater than one year.

Time Horizon

Longer than 3 years

Suitable Investors

Investors with a moderate risk profile who require long-term inflation-beating total returns from a dynamically managed multi-asset portfolio. The fund is appropriate for investors who seek a balanced exposure to domestic and foreign assets, according to Foord’s best investment view.

Fee Structure

No initial fees are levied. The annual management fee is a performance fee with the daily charge rate adjusted according to the fund’s performance relative to that of its benchmark. The performance fee is calculated and accrued daily based on the relative return for the preceding day. The fee at benchmark is 1.0% plus VAT, the performance fee sharing ratio is 10% and a minimum fee of 0.5% plus VAT applies.

Fund Manager

Minimum Investment

R50 000 lump sum or R1 000 per month