Ninety One Global Income Opportunities Class I Inc
Report And Accounts
Simplified Prospectus / KIID
Private Investor Factsheet
Professional Investor Factsheet
Performance
Discrete performance - to last month end
| 30/06/19 to 30/06/20 |
30/06/20 to 30/06/21 |
30/06/21 to 30/06/22 |
30/06/22 to 30/06/23 |
30/06/23 to 30/06/24 |
|
|---|---|---|---|---|---|
| Fund | -7.8% | 13.9% | -10.9% | 0.9% | 4.7% |
| Sector | -0.6% | 12.7% | -7.1% | 1.2% | 9.4% |
| Rank | 141/147 | 72/155 | 144/165 | 99/173 | 181/188 |
| Quartile | 4 | 2 | 4 | 3 | 4 |
Annualised performance
| Annualised | ||||
|---|---|---|---|---|
| 3 Years to 30/06/24 |
5 Years to 30/06/24 |
10 Years to 30/06/24 |
||
| Fund | -2.0% | -0.2% | 1.4% | |
| Sector | 0.9% | 2.9% | 3.8% | |
| Rank | 152/165 | 143/147 | 102/104 | |
| Quartile | 4 | 4 | 4 | |
Top 10 Holdings
| Stock | % Weight |
|---|---|
| UNITED STATES TREASURY NOTE/BO 07/25 4.75 | 3.74 |
| UNITED STATES TREASURY NOTE/BO 10/24 4.375 | 3.20 |
| 4¼% Treasury Stock 2032 | 2.84 |
| UNITED STATES TREASURY NOTE/BO 10/30 4.875 | 1.94 |
| UNITED STATES TREASURY NOTE/BO 05/37 5 | 1.90 |
| UNITED STATES TREASURY NOTE/BO 10/28 4.875 | 1.88 |
| UNITED STATES TREASURY NOTE/BO 05/32 2.875 | 1.72 |
| UNITED STATES TREASURY NOTE/BO 06/26 4.125 | 1.66 |
| NEW ZEALAND LOCAL GOVERNMENT F LOCAL GOVT G 04/33 3.5 | 1.63 |
| MEXICAN BONOS BONDS 12/24 10 | 1.34 |
| Total | 21.84 |
Fund Aims
The Fund aims to provide income with the opportunity for capital growth (i.e. to grow the value of your investment) over at least 5 years. The Fund targets a return of UK Consumer Prices Index (CPI) +4% each year (before fees), over 5-year rolling periods. While the Fund aims to achieve its objective and its performance target, there is no guarantee that either will be achieved, over 5-year rolling periods or over any period and there is a risk of loss.
Fund Manager
Jason is a portfolio manager in the Multi-Asset team at Ninety One. He is co-portfolio manager of the Multi-Asset Income strategies and his research responsibilities include equities. He joined the firm in 2015 to work on the income strategy as an analyst with responsibility for its equity exposure. Prior to this he worked for Pan Asset Capital Management as an assistant fund manager on multi-asset portfolios. Previously, Jason worked for BlackRock as an analyst. Jason studied Law at Oxford University. He holds an Investment Management Certificate and is a CFA® charterholder.
John is Head of Multi-Asset Income at Ninety One. He is co-portfolio manager of the Multi-Asset Income strategies and has macro focussed research responsibilities.. During his time at the firm John has held senior positions as Co-Head of Fixed Income & Currency, having previously been responsible for the management of our South African fixed income assets from 1998 to 2004. John joined Guinness Flight in 1993, which was later acquired by our firm, and took responsibility for investments in emerging bond and currency markets. Prior to this, he worked in London and Tokyo as a specialist global bond and currency portfolio manager for Mitsui Trust Asset Management. John graduated from the University of Oxford with an honours degree in Chemistry in 1990 and he is a CFA® Charterholder.
Fund Overview
| Mid (19/07/2024) | 110.95p |
| Historic yield | 3.20% |
| Fund size (31/05/2024) | £604.55m |
| Number of holdings | 809 |
| Entry Charge | 0.00% |
| Ongoing Charges | 0.90% |
| Launch date | 02/05/2012 |
Asset Allocation
| International Bonds | 54.22% | |
| International Equities | 22.51% | |
| UK Equities | 6.24% | |
| Cash and Equivalents | 3.37% | |
| UK Gilts | 3.10% | |
| Alternative Trading Strategies | 2.86% | |
| Investment Trusts | 2.02% | |
| UK Corporate Bonds | 0.57% | |
| Property | 0.19% | |
| Other Assets | 4.93% |
Important Information
Source of portfolio data: Broadridge. Source of performance data: FE fundinfo. We can’t predict the future. Past performance isn’t a guide to future performance. The figures shown are intended only to demonstrate performance history of the fund, after allowing for the impact of ongoing charges, but take no account of product charges. Ongoing charges may vary in the future and may be higher than they are now. Fund performance is based upon the movement of the daily price and is shown as total return in GBP with income reinvested. The value of your client’s investment can go down as well as up and the amount your client gets back may be less than they put in.
This factsheet is for investment professionals and is for information purposes only. Should you wish to present any of this content to your client, please refer to similar pages on pru.co.uk. You should refer to your client’s policy documentation and supporting brochures for fund availability, investment strategy, any product information and charges. Every care has been taken in populating this output, however it must be appreciated that neither Broadridge, Prudential nor their sources guarantee the accuracy, adequacy or completeness of this information or make any warranties regarding results from its usage.
Asset Allocation
| International Bonds | 54.22% | |
| International Equities | 22.51% | |
| UK Equities | 6.24% | |
| Cash and Equivalents | 3.37% | |
| UK Gilts | 3.10% | |
| Alternative Trading Strategies | 2.86% | |
| Investment Trusts | 2.02% | |
| UK Corporate Bonds | 0.57% | |
| Property | 0.19% | |
| Other Assets | 4.93% |
Bond Sector Breakdown
| Industry | Supersector | Sector | Subsector | ||
|---|---|---|---|---|---|
| Bonds | 57.97% | - | - | - | |
| Financials | 7.14% | - | - | - | |
| Financial Services | - | 2.74% | - | - | |
| Equity Investment Instruments | - | - | 2.02% | - | |
| Equity Investment Instruments | - | - | - | 2.02% | |
| Investment Banking & Brokerage Services | - | - | 0.72% | - | |
| Asset Managers & Custodians | - | - | - | 0.72% | |
| Banks | - | 2.23% | - | - | |
| Banks | - | - | 2.23% | - | |
| Banks | - | - | - | 2.23% | |
| Insurance | - | 2.17% | - | - | |
| Non-life Insurance | - | - | 2.17% | - | |
| Property & Casualty Insurance | - | - | - | 0.81% | |
| Full Line Insurance | - | - | - | 0.77% | |
| Reinsurance | - | - | - | 0.58% | |
| Consumer Staples | 5.33% | - | - | - | |
| Food, Beverage & Tobacco | - | 3.13% | - | - | |
| Beverages | - | - | 2.08% | - | |
| Soft Drinks | - | - | - | 1.45% | |
| Distillers & Vintners | - | - | - | 0.63% | |
| Food Producers | - | - | 1.04% | - | |
| Food Products | - | - | - | 1.04% | |
| Personal Care, Drug & Grocery Stores | - | 2.21% | - | - | |
| Personal Care, Drug & Grocery Stores | - | - | 2.21% | - | |
| Personal Products | - | - | - | 2.21% | |
| Basic Materials | 5.14% | - | - | - | |
| Basic Resources | - | 4.36% | - | - | |
| Precious Metals & Mining | - | - | 2.52% | - | |
| Gold Mining | - | - | - | 2.52% | |
| Industrial Metals & Mining | - | - | 1.84% | - | |
| General Mining | - | - | - | 1.04% | |
| Aluminum | - | - | - | 0.80% | |
| Chemicals | - | 0.78% | - | - | |
| Chemicals | - | - | 0.78% | - | |
| Fertilizers | - | - | - | 0.78% | |
| Non-Classified | 4.93% | - | - | - | |
| Non-Classified | - | 0.18% | - | - | |
| Non-Classified | - | - | 0.18% | - | |
| Non-Classified | - | - | - | 0.18% | |
| Health Care | 4.63% | - | - | - | |
| Health Care | - | 4.63% | - | - | |
| Pharmaceuticals & Biotechnology | - | - | 4.02% | - | |
| Pharmaceuticals | - | - | - | 4.02% | |
| Medical Equipment & Services | - | - | 0.61% | - | |
| Medical Supplies | - | - | - | 0.61% | |
| Cash and Equivalents | 3.37% | - | - | - | |
| Industrials | 3.18% | - | - | - | |
| Industrial Goods & Services | - | 2.44% | - | - | |
| Industrial Transportation | - | - | 0.69% | - | |
| Delivery Services | - | - | - | 0.69% | |
| Electronic & Electrical Equipment | - | - | 0.65% | - | |
| Electrical Components | - | - | - | 0.65% | |
| General Industrials | - | - | 0.64% | - | |
| Containers & Packaging | - | - | - | 0.64% | |
| Industrial Engineering | - | - | 0.46% | - | |
| Machinery: Industrial | - | - | - | 0.24% | |
| Machinery: Agricultural | - | - | - | 0.23% | |
| Construction & Materials | - | 0.74% | - | - | |
| Construction & Materials | - | - | 0.74% | - | |
| Construction | - | - | - | 0.74% | |
| Alternative Trading Strategies | 2.86% | - | - | - | |
| Alternative Trading Strategies | - | 2.86% | - | - | |
| Alternative Trading Strategies | - | - | 2.86% | - | |
| Alternative Trading Strategies | - | - | - | 2.86% | |
| Utilities | 2.35% | - | - | - | |
| Utilities | - | 2.35% | - | - | |
| Electricity | - | - | 1.62% | - | |
| Conventional Electricity | - | - | - | 1.27% | |
| Alternative Electricity | - | - | - | 0.36% | |
| Gas, Water & Multi-utilities | - | - | 0.72% | - | |
| Multi-Utilities | - | - | - | 0.72% | |
| Telecommunications | 1.35% | - | - | - | |
| Telecommunications | - | 1.35% | - | - | |
| Telecommunications Equipment | - | - | 1.35% | - | |
| Telecommunications Equipment | - | - | - | 1.35% | |
| Technology | 0.73% | - | - | - | |
| Technology | - | 0.73% | - | - | |
| Technology Hardware & Equipment | - | - | 0.73% | - | |
| Semiconductors | - | - | - | 0.73% | |
| Consumer Discretionary | 0.58% | - | - | - | |
| Retail | - | 0.58% | - | - | |
| Retailers | - | - | 0.58% | - | |
| Home Improvement Retailers | - | - | - | 0.58% | |
| Real Estate | 0.45% | - | - | - | |
| Real Estate | - | 0.45% | - | - | |
| Real Estate Investment Trusts | - | - | 0.45% | - | |
| Infrastructure REITs | - | - | - | 0.25% | |
| Industrial REITs | - | - | - | 0.19% | |
Regional Allocation
| North America | 32.75% | |
| Non-Classified | 14.20% | |
| Developed Europe - Excl UK | 12.18% | |
| South & Central America | 12.13% | |
| UK | 9.95% | |
| Australia & New Zealand | 6.61% | |
| Emerging Asia | 4.50% | |
| Middle East & Africa | 3.97% | |
| Cash and Equivalents | 3.37% | |
| Other Regions | 0.33% |
Fixed Interest Currencies
| Non-Fixed Interest Assets | 38.74% | |
| US Dollar | 19.89% | |
| New Zealand Dollar | 6.02% | |
| Canadian Dollar | 5.39% | |
| Australian Dollar | 4.92% | |
| Mexican Peso | 4.77% | |
| Other Currencies | 20.26% |
Regional Breakdown
| Region | Country | ||
|---|---|---|---|
| North America | 32.75% | - | |
United States
|
- | 25.45% | |
Canada
|
- | 7.31% | |
| Non-Classified | 14.20% | - | |
| Developed Europe - Excl UK | 12.18% | - | |
France
|
- | 3.20% | |
Switzerland
|
- | 2.45% | |
Netherlands
|
- | 1.36% | |
Germany
|
- | 1.34% | |
Ireland
|
- | 1.15% | |
Spain
|
- | 0.94% | |
Norway
|
- | 0.82% | |
Luxembourg
|
- | 0.36% | |
Finland
|
- | 0.26% | |
Italy
|
- | 0.13% | |
Sweden
|
- | 0.07% | |
Belgium
|
- | 0.06% | |
Austria
|
- | 0.03% | |
Denmark
|
- | 0.02% | |
| South & Central America | 12.13% | - | |
Mexico
|
- | 5.70% | |
Brazil
|
- | 2.92% | |
Colombia
|
- | 1.78% | |
Peru
|
- | 1.67% | |
Uruguay
|
- | 0.05% | |
| UK | 9.95% | - | |
United Kingdom
|
- | 9.95% | |
Jersey
|
- | 0.00% | |
| Australia & New Zealand | 6.61% | - | |
Australia
|
- | 4.22% | |
New Zealand
|
- | 2.40% | |
| Emerging Asia | 4.50% | - | |
Indonesia
|
- | 2.47% | |
Taiwan
|
- | 0.65% | |
South Korea
|
- | 0.64% | |
China
|
- | 0.39% | |
India
|
- | 0.35% | |
| Middle East & Africa | 3.97% | - | |
South Africa
|
- | 3.45% | |
Kenya
|
- | 0.19% | |
Egypt
|
- | 0.12% | |
Ghana
|
- | 0.11% | |
Senegal
|
- | 0.06% | |
Uganda
|
- | 0.04% | |
| Cash and Equivalents | 3.37% | - | |
| Property | 0.19% | - | |
| Emerging Europe | 0.13% | - | |
Turkey
|
- | 0.13% | |
Breakdown By Market Cap (%)
| Mega |
|
17.21% |
| Large |
|
5.92% |
| Medium |
|
1.39% |
| Small |
|
0.92% |
| Non-Classified |
|
13.30% |
| Bonds |
|
57.89% |
| Cash |
|
3.37% |
Fixed Interest Maturity Profile
| < 5Yr Maturity |
|
24.73% |
| 5Yr - 10Yr Maturity |
|
22.13% |
| 10Yr - 15Yr Maturity |
|
8.65% |
| > 15Yr Maturity |
|
2.37% |
| Cash And Equivalents |
|
3.37% |
| Unknown Maturity |
|
4.75% |
| Other Asset Types |
|
33.99% |
Fixed Interest Quality Profile
| AAA |
|
19.83% |
| AA |
|
12.14% |
| A |
|
1.49% |
| BBB |
|
9.37% |
| Sub-Investment Grade |
|
5.54% |
| Unknown Quality |
|
9.53% |
| Cash and Equivalents |
|
3.37% |
| Other Asset Types |
|
38.74% |
Top 10 Holdings
| Stock | % Weight | Sector | Country | |
|---|---|---|---|---|
| 1 | UNITED STATES TREASURY NOTE/BO 07/25 4.75 | 3.74% | Bonds | United States |
| 2 | UNITED STATES TREASURY NOTE/BO 10/24 4.375 | 3.20% | Bonds | United States |
| 3 | 4¼% Treasury Stock 2032 | 2.84% | Bonds | United Kingdom |
| 4 | UNITED STATES TREASURY NOTE/BO 10/30 4.875 | 1.94% | Bonds | United States |
| 5 | UNITED STATES TREASURY NOTE/BO 05/37 5 | 1.90% | Bonds | United States |
| 6 | UNITED STATES TREASURY NOTE/BO 10/28 4.875 | 1.88% | Bonds | United States |
| 7 | UNITED STATES TREASURY NOTE/BO 05/32 2.875 | 1.72% | Bonds | United States |
| 8 | UNITED STATES TREASURY NOTE/BO 06/26 4.125 | 1.66% | Bonds | United States |
| 9 | NEW ZEALAND LOCAL GOVERNMENT F LOCAL GOVT G 04/33 3.5 | 1.63% | Bonds | Non-Classified |
| 10 | MEXICAN BONOS BONDS 12/24 10 | 1.34% | Bonds | Mexico |
Important Information
The Industry Classification Benchmark is a product of FTSE International Limited and has been licensed for use. This factsheet is for investment professionals and is for information purposes only. Should you wish to present any of this content to your client, please refer to similar pages on pru.co.uk. You should refer to your client’s policy documentation and supporting brochures for fund availability, investment strategy, any product information and charges. Every care has been taken in populating this output, however it must be appreciated that neither Broadridge, Prudential nor their sources guarantee the accuracy, adequacy or completeness of this information or make any warranties regarding results from its usage.
Identification Codes
| Sedol Code | B591W91 |
| Mex Code | YFIAAB |
| Isin Code | GB00B591W916 |
| Citi Code | 12GF |
Fund Charges
| Entry Charge | 0.00% |
| Ongoing Charges | 0.90% |
Aims and Benchmark
| Aims | The Fund aims to provide income with the opportunity for capital growth (i.e. to grow the value of your investment) over at least 5 years. The Fund targets a return of UK Consumer Prices Index (CPI) +4% each year (before fees), over 5-year rolling periods. While the Fund aims to achieve its objective and its performance target, there is no guarantee that either will be achieved, over 5-year rolling periods or over any period and there is a risk of loss. |
| Benchmark | 45% MSCI AC World High Dividend Yield GBP Hedged + 55% Bloomberg Global Aggregate Total Return GBP Hedged (UK CPI +4% pre 04/07/2023) |
| Benchmark Category | - |
| IA Sector | Mixed Investment 20-60% Shares |
Fund Background
| Valuation frequency | Daily |
| Valuation point | - |
| Fund type | OEIC |
| Launch price | - |
| Fund currency | Pound Sterling |
| Fund domicile | - |
| ISA allowable | Yes |
| SIPP allowable | Yes |
Distribution Details
| Income frequency | Quarterly |
| Distribution Type | Dividend |
| Distribution Payment Basis | Net |
Distribution Dates
| Ex dividend date(s) | Income payment date(s) |
|---|---|
| 01 January | 28 February |
| 01 April | 31 May |
| 01 July | 31 August |
| 01 October | 30 November |
Ratings
| FE Crown |  |
Effect of Deductions
| Assuming a growth rate of 6.00% | Assuming a growth rate of 7.00% |
|---|---|
| - | - |
Fund Administration
| Fund Trustee/Depository | State Street Trustees Limited |
| Fund Administrator | SS&C Financial Services International Limited |
| Fund Registrar | SS&C Financial Services Europe Limited |
| Fund Custodian | State Street Bank and Trust Company |
Group Details
| Group name | Ninety One |
| Group address | 55 Gresham Street London EC2V 7QP |
| Group telephone | +44 (0) 203 938 1900 |
| Dealing telephone | +44 (0) 203 938 1900 |
| enquiries@ninetyone.com | |
| Homepage | https://ninetyone.com/en/united-kingdom |
| Fax number | +44 (0) 203 938 1900 |
Dealing
| Minimum Investment | £1000000 |
| Minimum Top Up | £250000 |
| Minimum Regular Saving | - |
| Settlement Period: Buy | 3 days |
| Settlement Period: Sell | 3 days |
| Pricing Basis | Forward |
| Dealing Decimals | 3 |
Important Information
Ongoing charges may vary in the future and may be higher than they are now.
This factsheet is for investment professionals and is for information purposes only. Should you wish to present any of this content to your client, please refer to similar pages on pru.co.uk. You should refer to your client’s policy documentation and supporting brochures for fund availability, investment strategy, any product information and charges. Every care has been taken in populating this output, however it must be appreciated that neither Broadridge, Prudential nor their sources guarantee the accuracy, adequacy or completeness of this information or make any warranties regarding results from its usage.
Risk Analysis
| Ratio | Value |
|---|---|
| Alpha | -3.00 |
| Beta | 0.94 |
| Sharpe | 0.00 |
| Standard Deviation | 6.99 |
| Info Ratio | -1.06 |
Risk Factors
| Risk Factor | Yes / No |
|---|---|
| Charges to Capital | No |
| Emerging Markets | No |
| Concentrated Portfolio | No |
| Smaller Companies | No |
| High Yield Bonds | No |
| Sector Specific | No |
| Geared Investments | No |
| Value of Investments | Yes |
| Investments Long Term | Yes |
| Property | No |
| Exchange Rate | Yes |
| Higher Risk | No |
| Performance Charges | No |
| Derivative Exposure | Yes |
| Offshore | No |
| Income Eroding Capital Growth | No |
| Umbrella Liabilities | No |
| New Fund | No |
| Solvency of Depository | No |
| Solvency of Bond Issuers | No |
| Ethical Restrictions | No |
| Liquidity | No |
| Returns Are Not Guaranteed | Yes |
| Inflation | Yes |
| Taxation and Tax Relief | Yes |
Fund Specific Risks
Value of Investments
The value of investments, and any income can fall, as well as rise, so you could get back less than you invested. Neither capital nor income is guaranteed.
Investments Long Term
Investments should be regarded as long term and are not suitable for money which may be needed in the short term, you should always have a sufficient cash reserve.
Exchange Rate
This fund invests in securities outside the UK. The value of investments and any income from them may therefore decrease or increase as a result of changes in exchange rates between currencies.
Derivative Exposure
The fund invests in derivatives as part of its investment strategy, over and above their use for Efficient Portfolio Management (EPM). Investors should be aware that the use of these instruments can, under certain circumstances, increase the volatility and risk profile of the Fund beyond that expected of a fund that only invests in equities. The fund may also be exposed to the risk that the company issuing the derivative may not honour their obligations which in turn could lead to losses arising.
Returns Are Not Guaranteed
What you receive when you sell your investment is not guaranteed; it depends on how your investments perform.
Inflation
Inflation will reduce the real value of your investments in future.
Taxation and Tax Relief
Levels of taxation and tax relief are subject to change.
Important Information
The risk factor definitions are provided by Broadridge. These definitions may differ from those of Prudential or any underlying fund manager. The data itself is provided by Prudential or the underlying fund manager. This factsheet is for investment professionals and is for information purposes only. Should you wish to present any of this content to your client, please refer to similar pages on pru.co.uk. You should refer to your client’s policy documentation and supporting brochures for fund availability, investment strategy, any product information and charges. Every care has been taken in populating this output, however it must be appreciated that neither Broadridge, Prudential nor their sources guarantee the accuracy, adequacy or completeness of this information or make any warranties regarding results from its usage.
Important Information
Source of performance data: FE fundinfo. We can’t predict the future. Past performance isn’t a guide to future performance. The figures shown are intended only to demonstrate performance history of the fund, after allowing for the impact of ongoing charges, but take no account of product charges. Ongoing charges may vary in the future and may be higher than they are now. Fund performance is based upon the movement of the daily price and is shown as total return in GBP with income reinvested. The value of your client’s investment can go down as well as up and the amount your client gets back may be less than they put in. This factsheet is for investment professionals and is for information purposes only. Should you wish to present any of this content to your client, please refer to similar pages on pru.co.uk. You should refer to your client’s policy documentation and supporting brochures for fund availability, investment strategy, any product information and charges. Every care has been taken in populating this output, however it must be appreciated that neither Broadridge, Prudential nor their sources guarantee the accuracy, adequacy or completeness of this information or make any warranties regarding results from its usage. "Prudential" is a trading name of The Prudential Assurance Company Limited, which is registered in England and Wales. Registered office at 10 Fenchurch Avenue, London EC3M 5AG. Registered number 15454. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.