Malcolm Charles, B Com (Acc), (Bus Admin) (Commercial Law),
Malcolm is a portfolio manager in the South Africa Rates team, with responsibility for a range of fixed income portfolios, including the Flexible Bond and Dynamic Bond strategies and the Absolute Income,
Opportunity Income and Diversified Income strategies. Prior to joining Investec Asset Management in 2001, he worked for African Harvest Fund Managers and Old Mutual Asset Managers, as both a fixed interest trader
and portfolio manager. Malcolm graduated from Rhodes University with a Bachelor of Commerce degree in Accounting, Business Administration and Commercial Law.
Andr Roux, B.Comm Hons (Economics)
Andr is the co-head of Emerging Market Fixed Income at Investec Asset Management. He is responsible for South Africa fixed income. Prior to joining the firm in 1999, Andr was the deputy director general of the Department of Finance, where he took responsibility for macroeconomic, fiscal and tax policy and intergovernmental fiscal relations. Prior to that, Andr spent two years at the Development Bank of Southern Africa. This followed a distinguished academic career during which he published on fiscal and development issues. Andr holds a Master of Philosophy (Economics) degree from Cambridge University, a Master of Science (Mathematics) degree from Oxford University and a Bachelor?s degree from the University of Cape Town.
FUND OBJECTIVES AND FOCUS
The Investec Gilt Fund aims to grow income and capital. The fund targets returns in excess of the BEASSA All Bond Index (ALBI), measured over three year periods.
The fund offers exposure primarily to the South African bond market but invests in other South African fixed income assets in order to improve potential returns and increase diversification. Assets include municipal and public corporation bonds, fixed deposits and money market instruments. The fund is actively managed and performance is achieved by identifying investment opportunities across the interest rate spectrum.
o A specialist fixed-income fund, which can form part of a larger portfolio
o Active exposure to the South African bond market
o Compliant with Regulation 28 of the Pension Funds Act, therefore suitable for retirement funds
o Higher volatility than money market and traditional income funds but significantly lower volatility than equity funds