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Foord Conservative Fund

For conservative, medium-term investors in South African retirement fund products

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INVESTMENT OBJECTIVE

Managed to comply with the statutory investment limits set for retirement funds in South Africa, the fund aims to provide conservative, medium-term investors with inflation-beating returns over rolling three-year periods.

FOR SOUTH AFRICAN INVESTORS

•    With a conservative risk profile
•    Close to or in retirement
•    Seeking medium-term, inflation-beating returns
•    Over time horizons of less than five years.
•    From a South African retirement fund investment product (Reg 28).

FUND MANAGERS

Nick Balkin

Chief Investment Officer and Portfolio Manager

Dave Foord

Founder and Portfolio Manager

Performance

Returns
YearFund Return %Benchmark Return %SA Inflation %
20148.69.35.3
20159.29.25.2
20160.310.86.8
20177.38.74.7
20181.38.54.5
201912.88.04.0
20209.07.13.1
202111.29.95.9
20223.611.27.2
202312.09.15.1
2024 (to 30/Nov)11.86.62.9

Characteristics
Benchmark

CPI +4% per annum, which is applied daily using the most recently available inflation data and accordingly will be lagged on average by five to six weeks.

Time horizon

Shorter than five years.

Inception date

2 January 2014

Minimum investment

R50 000 lump sum or R1 000 per month

Significant restrictions

Maximum equity exposure of 60%: maximum offshore exposure of 45%; complies with pension fund investment regulations (Regulation 28).

Income distributions

End-March and end-September each year.

Income characteristics

Typically more than double that of the FTSE/JSE All Share Index dividend yield. The income yield is affected by the level of performance fees accrued.

Portfolio orientation

Typically a medium to low weighting in JSE shares and includes exposure to listed property, commodity securities, bonds, money market instruments and foreign assets.

Foreign assets

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

Risk of loss

Medium in periods shorter than six months. Low in periods greater than one year.

Top 10
Security descriptionAsset class MarketPortfolio weight %
Foord International FundForeign assetsLU 17.3
Foord Global Equity FundForeign assetsSG 13.6
RSA 1.875% (I2029)BondZA 5.9
ProsusEquityZA 3.9
RSA 8.5% (R2037)BondZA 3.5
RSA 1.875% (I2033)BondZA 3.5
NewGoldCommodityZA 3.5
Premier GroupEquityZA 2.5
RSA 8.875% (R2035)BondZA 2.2
RSA 2.6% (R210)BondZA 1.9
Fees

The fee is a performance based fee that varies around the at-benchmark fee rate as disclosed on the fact sheet. The daily fee rate is adjusted up or down based on the portfolio’s one-year rolling return relative to that of its benchmark. Minimum fee rates apply, but no fees are levied when the annual net return falls below zero. Fees accrue in the Foord global funds as disclosed.

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Document Downloads

Performance Data History Price History Data Foord Conservative Fund - Fact Sheet - November 2024 Foord Conservative Fund - Foord Investment Report Q3 2024

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