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SA Income

For investors with low tolerance for capital loss seeking income yields exceeding money market portfolios.

OVERVIEW

The strategy aims to provide an income yield exceeding returns from money market portfolios with low probability of capital loss over an investment horizon of six months to one year. The benchmark is the Alexander Forbes Short-term Fixed-interest Composite Index (Stefi).

STRATEGY

To achieve its goal, the strategy invests in a broad spectrum of listed and unlisted South African interest-bearing securities, with the weighted average duration of the portfolio being typically less than 18 months. The portfolio may not invest in equities or listed property and will not invest offshore. The maximum weighted average portfolio modified duration is limited to two years, but will likely trend below 18 months. The portfolio is managed to comply with the statutory investment limits set for retirement funds in South Africa (regulation 28). 

Insights

08 Apr 2026

MARKETS IN A NUTSHELL — FOR MARCH 2026

March was a reminder of how quickly market optimism can unravel. The beginning of the month was defined by hopes that inflation had been tamed and would start to fall. But by mid-March, the escalation of the…

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07 Apr 2026

MARKETS IN A NUTSHELL — FOR MARCH 2026

Investors began March assuming that the rich world had slain the inflation beast and interest rates would continue to trend lower. By the Ides they were confronting a rather older problem: the consequences of war in…

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