Investec Namibia High Income Fund
MANAGEMENT Fund Manager's Comment
Vivienne Taberer, B Com, LLB, SFA
Vivienne is an investment specialist in the Global Emerging Market Debt team and a portfolio manager. She is responsible for Latin American bond and currency markets. Prior to joining the firm in 2002, Vivienne worked at Standard Bank in London for seven years, initially specialising in South African fixed income before moving into sales and trading across the whole spectrum of emerging market debt. Prior to this, Vivienne worked at Mizuho International in London and First National Bank trading South African bonds, bond options, FRAs and swaps. Vivienne graduated from the University of the Witwatersrand with a Bachelor of Commerce degree and a Bachelor of Laws degree and she has completed the London School of Business Investment Management Programme.
Investec Emerging Markets Fixed Income Team
Malcolm Husselman
FUND OBJECTIVES AND FOCUS

The fund will invest in a combination of high-income returning, interest bearing investments, whilst maximising the overall return comprising both capital growth and income from such investments. Due to Namibian Regulations a minimum of 35% of the Fund will be invested in Namibian bills, interest bearing securities and cash. The remainder of the fund, maximum 65%, will be invested in South African securities. The duration of gilts, bonds and interest bearing securities will not exceed 2 years. The Investec High Income Fund Namibia is suitable for those investors who seek an investment that: o Is relatively low risk. o Maximises income. o Offers a higher income than traditional bank deposit accounts and treasury bills. o Has no fixed investment period. o Complies with Regulation 28 of the Pension Funds Act and is therefore suitable for Pension and Provident Funds.


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WEBGRAPH
RANKING
SectorRegional-Namibian-Unclassified
SizeR160,970,370
Sector Rank: 3 out of 43
(lump sum over 3 years to 31 July 2019)
Overall Rank: 173 out of 1038
(lump sum over 3 years to 31 July 2019)
R1000 invested on 31 July 2016 was worth R 1260 at 31 July 2019
( 8.00% annual compound return)
R100 per month since 31 July 2016 was worth R 4063 at 31 July 2019
( 7.74% annual return compounded monthly)
TECHNICAL OVERVIEW
Formation Date:11 MAY 2000 Holdings:21
Original Price:101 Pricing:Forward
Top Holdings on 31 July 2019
Share (Sector)No.Value% of Fund
U-INVHINC (Income)73,823,68686,432,772 53.69 %
FOREIGNBO (Foreign Invest)036,596,394 22.73 %
GC24 (Namibian Gilt)1,200,0001,315,177 0.82 %
ASN209 (Bond)2,000,0002,024,313 1.26 %
NAMIBIA C (Cash on call)04,045,330 2.51 %
TOTAL R130,413,98681.01%

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