The Maitland Flexible Fund of Funds is a South African domestic asset allocation flexible unit trust that seeks to provide returns of CPI for all urban areas plus 4%. A combination of underlying managers (“multi-manager” approach) is used in attempting to achieve the objective of the fund, whereby underlying managers are selected on a best-of-breed basis and will need to demonstrate considerable skill in order to be selected. The fund is managed with reference to its long term strategic asset allocation guidelines; however short term tactical tilts are made in anticipation of or reaction to volatile markets or other adverse market conditions. The fund is a suitable investment for investors who wish to assume a moderate level of risk.

Literature

South African Unit Trust

(Operated within the Efficient Unit Trust Umbrella)

Objective
The Maitland Flexible Fund of Funds is a South African domestic asset allocation flexible unit trust that will seek to provide returns of CPI (for all urban areas) plus 4% for investors.

Investment philosophy
The fund focuses on strategic asset allocation, not stock or fund selection, as the main driver of returns. By combining multiple asset classes in a diversified, disciplined and cost-efficient manner, volatility is reduced and overall returns enhanced. Diversification minimises the risk of loss as distinct asset classes perform differently during the different periods of the economic cycle.

The investment philosophy is based on a strategic asset allocation developed by the investment manager using a blend of risk and return optimisation models. The investment manager expresses its view on the current investment climate through the implementation of tactical tilts to this strategic allocation with guidance from the manager’s investment committee.

Portfolio management
By combining multiple asset classes in a diversified, disciplined and cost-efficient manner, volatility is reduced and overall returns enhanced. Asset classes are selected on the basis of their risk characteristics, liquidity, cost, varied correlations and prospective return profiles. The asset classes can be accessed via passive index tracking funds/ETFs, actively managed funds or pooled investment instruments. The investment manager will adjust exposure to strategies within each asset class based on its perception of the optimal risk/return trade-off presented by the current market climate.

Fund characteristics

  • South African Unit Trust
  • Daily liquidity with no bid offer spread.
  • Minimum investment of ZAR 50,000 or R 5,000 monthly
  • Available in South African Rand share class.

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