SOUTH AFRICA LISTED EQUITIES


The Legacy Africa SA Equity Fund is an actively managed long only South African Equity fund.

INVESTMENT OBJECTIVE:


The fund aims to achieve incremental performance of 1% per annum in excess of the benchmark, gross of management fees with reinvestment of dividends and income, over a 5-year rolling period. The default benchmark is the total return FTSE/JSE Capped All Share Index.



The Firm's Investment

Process consists of the following five steps:


 

AFRICA LISTED EQUITIES


The Legacy Africa ex SA Equity Fund is an actively managed long only equity fund that invests in securities of companies who generate more than 50% of their revenues on the African continent (excluding South Africa) that are listed on any exchange affiliated with the World Federation of Exchanges. Only securities of companies with a free-float market capitalisation of more than $200m and/or tradability that exceeds 30 working days at 10% of daily value traded are considered investible.



INVESTMENT OBJECTIVE:


The fund aims to achieve incremental performance in excess of the benchmark, gross of management fees with reinvestment of dividends and income, over a 5 to 7 year rolling period. The default benchmark is the total return of the MSCI Emerging Frontier Markets Africa ex South Africa Index.



The Firm's Investment

Process consists of the following five steps:



 

LEGACY AFRICA

PRESCIENT MONEY MARKET FUND


The objectives of the Legacy Africa Prescient Money Market Fund is to maximise income while preserving capital and to provide liquidity to investors by investing mainly in South African, high quality, short-term money market and fixed income instruments.

 



MONEY MARKETㅤㅤㅤㅤㅤ


INVESTMENT OBJECTIVE


The LEGACY AFRICA Cash Plus Market Fund aims to outperform a pre-determined money market benchmark e.g., Short Term Fixed Interest Composite Index (STeFI) by making use of duration decisions, underlying security selection and yield enhancement through credit risk decisions.


ACTIVE BONDㅤㅤㅤㅤㅤ


INVESTMENT OBJECTIVES


The Funds seek to target returns of at least 50 basis points (or as specified in the benchmark) per annum in excess of the specified benchmark over a rolling 2-year period while maintaining a relative duration of less than 2 years (or as specified in the mandate). To achieve this objective, the portfolios invest in selected fixed interest and money market instruments with varying duration and yield-enhancing securities with appropriate risk ratings.


The Funds seek to target returns of at least 50 basis points (or as specified in the benchmark) per annum in excess of the specified benchmark over a rolling 2-year period while maintaining a relative duration of less than 2 years (or as specified in the mandate). To achieve this objective, the portfolios invest in selected fixed interest and money market instruments with varying duration and yield-enhancing securities with appropriate risk ratings.


INVESTMENT PROCESS


The investment process is structured, sequential, robust and has been tested over different economic and financial conditions over a long-time period. The investment process is a multi-step process that starts with the mandate objective to define the benchmark, objective and risk characteristics.

MULTI-ASSET CLASSㅤㅤㅤㅤㅤ


INVESTMENT OBJECTIVE


The primary objective of the Multi-Asset Class Funds is to generate returns in excess of CPI + 1.5% and CPI + 3%, over rolling 24- and 36-month periods respectively, by investing in various asset classes including equities, listed property, inflation-linked bonds, nominal bonds and money market instruments. In order to achieve the various investment objectives, the portfolios invest in a combination of these instruments and the allocation to each asset class depends on our proprietary risk-budgeting process. The funds comply with all prudential requirements and regulations controlling retirement funds or such other applicable legislation as may be determined.

The LEGACY AFRICA Multi-Asset Funds – High Income, Low Equity and Medium Equity – are interchangeably referred to as the LEGACY AFRICA Flexible Income Fund, the LEGACY AFRICA Conservative Absolute Return Fund and the LEGACY AFRICA Moderate Absolute Return Fund, respectively. They inherently target to generate returns for investors in deliverance of excess real returns above the target.