Share

Absa launches access to UK-managed fund

Cape Town - Absa Active Asset Management announced on Tuesday that its new partnership with UK-based Schroders will now provide local investors access to the Global Recovery Fund by the end of November.

Absa said it wants to give investors a wider choice and access to global equities. Last month Absa and Schroders also launched the Global Core Equity Fund.

“These two funds are in line with our strategic intent to ensure ongoing competitiveness in offering offshore investment products and solutions on a standalone basis. Our clients will now have access to the two equity portfolios that can be accessed in three formats – either individually or part of the balanced or absolute return offerings,” explained Armien Tyer, head of the investment cluster at Absa.

He said the Global Core Equity Fund offers local investors core exposure to global equities in a portfolio which has a long track record of outperforming the index without taking too much benchmark relative risk.

Robin Stoakley, CEO of Schroders Mutual Fund Business, explained that the strategy is for investors who want a core allocation to global equities, which aims to produce steady outperformance of the MSCI World index over time.

“Global Recovery offers exposure to global equities with a focus on companies which are currently out of favour with investors and as a result are very cheap. The approach is suitable for long term investors who are seeking returns over time which may well be in excess of the index," said Stoakley.

"The strategy is likely to be higher risk than the Global Equity Core fund, because it is an unconstrained approach with a contrarian style.”

Tyer said the two firms are working on widening the offering to local investors and several other funds are in the pipeline for 2016.

“When we entered into the partnership with Schroders and launched the two equity offerings it was always with the end client in mind. While the rand may be weak now and markets very volatile, the need for having an offshore allocation in a diversified competitive offering is perennial," said Tyer.

"What we are now focused on is finding alternative offshore exposures that our clients can benefit from, so watch this space.”

We live in a world where facts and fiction get blurred
Who we choose to trust can have a profound impact on our lives. Join thousands of devoted South Africans who look to News24 to bring them news they can trust every day. As we celebrate 25 years, become a News24 subscriber as we strive to keep you informed, inspired and empowered.
Join News24 today
heading
description
username
Show Comments ()
Rand - Dollar
18.91
+0.1%
Rand - Pound
23.87
+0.1%
Rand - Euro
20.38
+0.2%
Rand - Aus dollar
12.31
+0.2%
Rand - Yen
0.13
+0.1%
Platinum
908.05
+1.2%
Palladium
1,014.94
0.0%
Gold
2,232.75
-0.0%
Silver
24.95
-0.1%
Brent Crude
87.00
+1.8%
Top 40
68,346
0.0%
All Share
74,536
0.0%
Resource 10
57,251
0.0%
Industrial 25
103,936
0.0%
Financial 15
16,502
0.0%
All JSE data delayed by at least 15 minutes Iress logo
Company Snapshot
Editorial feedback and complaints

Contact the public editor with feedback for our journalists, complaints, queries or suggestions about articles on News24.

LEARN MORE
Government tenders

Find public sector tender opportunities in South Africa here.

Government tenders
This portal provides access to information on all tenders made by all public sector organisations in all spheres of government.
Browse tenders