Absa Euro Income Fund
MANAGEMENT Fund Manager's Comment
Juan Bekker, SAIFM
Juan joined ABAM in January 2008 and is responsible for the management of ABAM's largest fund, the ABSA Money Market Fund. He also manages the ABSA Income Fund along with other segregated fixed interest funds. Juan entered the asset management industry in 1989 when he joined Senbank Portfolio Management Services, in the fixed interest department. In 1994 he joined Liberty Asset Management where he was responsible for managing the Guard Bank Money Market Fund, along with segregated fixed interest funds. In 2001 Liberty Asset Management and Standard Bank Asset Managers merged to form Stanlib Asset Management, here he managed the Stanlib Institutional Money Market Fund, the Botswana Pula Money Market Fund, the Namibia Cash Plus Fund as well as segregated fixed interest funds.
Greg Kettles, B.Com (Hons), CA (SA), CFA
Greg joined ABAM in September 2007 and was responsible for the management of ABAM s second largest fund, the ABSA Dividend Income Fund prior to the fund being closed. He also manages the ABSA International Fund (an offshore equity fund), the ABSA Global Bond Fund and the ABSA range of offshore income funds. After completing his accounting articles at Deloitte, Greg continued in the profession as a partner in a small practice for a number of years before entering the asset management industry in1994. During his investment career he has had extensive experience including derivatives trading, research of companies listed in numerous sectors on the JSE, the management of numerous portfolios, both segregated client portfolios and unit trusts (both domestic and international) as well as management of clients offshore assets on a multi-manager basis. Greg holds a CA(SA) qualification and is a CFA charter holder.
FUND OBJECTIVES AND FOCUS

This rand denominated offshore fund aims to offer investors a consistent foreign income as well as hedging against a depreciating rand. Securities to be included in the fund will mainly consist of Euro denominated interest bearing securities. Both capital and interest will be exposed to currency fluctuations.


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WEBGRAPH
RANKING
SectorRegional-Interest Bearing-Short Term
SizeR29,069,616
Sector Rank: 5 out of 7
(lump sum over 3 years to 31 July 2017)
Overall Rank: 735 out of 818
(lump sum over 3 years to 31 July 2017)
R1000 invested on 31 July 2014 was worth R 1046 at 31 July 2017
( 1.50% annual compound return)
R100 per month since 31 July 2014 was worth R 3701 at 31 July 2017
( 1.79% annual return compounded monthly)
TECHNICAL OVERVIEW
Formation Date:20 NOV 2006 Holdings:16
Original Price:0 Pricing:Forward
Top Holdings on 31 July 2017
Share (Sector)No.Value% of Fund
FOREIGN MMI (For Currency)014,627,187 50.32 %
CASH (Cash on call)011,741,844 40.39 %
TOTAL R26,369,03190.71%

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