The Futuregrowth Yield Enhanced A STeFI+ Short Term Composite targets high cash returns through active interest rate risk management, active yield curve bets, moderate credit concentrations in lower rated entities, credit arbitrage, moderate market and credit derivative usage.
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The Composite’s weighted average rated credit quality must be a minimum of A-. The benchmark is the South African STeFI Composite Index.
The Composite aims to outperform the STeFI + 0.25% per annum over a rolling 12-month period.
The Composite invests in a wide range of government, parastatal, corporate debt, securitised and money market assets, subject to credit committee approval and whose relative value is expected to increase over time. 100% of this Composite can be invested in unlisted credit.
YIELD ENHANCED STRATEGY
Our yield enhanced strategy relies on maintaining strong relationships with market players. This allows us to see a large degree of dealflow on a continuous basis and keep an eye on ever-evolving credit events in the market. In the unlisted space, our specialist structuring skills allow us to make loans that ensure lenders achieve the greatest degree of investor protection through loan terms, covenants and security while ensuring risk-adjusted returns with good diversification.