Intervest Funds

Our Managed Portfolios have changed to Unit Trust Funds of Funds! Click here to see historical information

Launch of Intervest unit trust funds

• Over the past few years the successes of the Equinox managed portfolios, which include the Equinox Maximizer Portfolio, the Equinox Top Managers’, and the Equinox Prudential Portfolio have been apparent in terms of both their recent performance and popularity.
• The objective of these wrap portfolios of unit trust funds has been to provide an investment solution to investors who prefer to invest in a portfolio of unit trusts managed on their behalf.
• While our existing ‘wrap funds’ have provided a transparent vehicle up ‘til now, for some time we have been considering the merits of registering our funds with the Financial Services Board as funds of funds.

Click here to find out the difference between wrap funds and registered fund of funds:

Portfolio Performances to 01 Sep 10

Intervest Flexible Fund of Funds

Intervest Prudential Fund of Funds

Other benefits of the CIS (Collective Investment Scheme) structure

• No unit trust or Equinox initial fees will be charged for new investments into the funds.
• More cost effective annual investment management fees.
• FSB regulation requires unit trust funds to be priced daily which will facilitate easy performance comparison.

Continuity of existing fund manager

The present manager of the Equinox Managed Portfolio, EFS Investment Solutions, will continue as the designated manager of the Intervest Collective Investment Fund of Funds.

Oryx and the Equinox Portfolio Managers Barry Shamley and Chief Investment Officer Heiko van Wyngaarden, have performed particularly well in preserving capital for our managed portfolio investors over the past 24 months.

The EFS investment strategy has always placed a premium on capital preservation and this focus has paid off for our investors in the current volatile market conditions. Oryx has received multiple awards, most recently the ‘Best long term performance award’ at the Hedge Funds World Africa award ceremony in February 2009.

The names and mandates of the new funds

EFS Investment Solutions (Pty) Ltd trading as Equinox has registered two funds with the Financial Services Board. The mandates of the registered funds allow EFS Investment Managers to continue with the same management style and philosophy which has led to the current outperformance of the funds. Both funds are classified as Domestic Asset Allocation category.

The Intervest Flexible Fund of Funds is classified in the Domestic Asset Allocation Flexible category, which allows the fund manager the discretion to be 100% invested in any asset group, cash, equities, bonds or property, depending on market conditions.

The Intervest Prudential Fund of Funds is classified in the Domestic Asset Allocation Prudential Variable category.

Funds in the prudential category are required to be managed in compliance with Regulation 28 of the Pension Fund Act, so the maximum allowed equity exposure of the fund will be 75% equity, with a further permissible 15% exposure to listed property. The Prudential sector has four sub-sectors including low (0-40%), medium (40-60%), high (40-75% and variable (0-75%), which determine the chosen maximum equity exposure range of funds in the Prudential category.

Consolidation

As part of making the structure of the managed portfolios more effective and in line with client needs as well as serious consideration of current market conditions we have opted to consolidate the Top Managers Portfolio and the Maximizer portfolios into the Intervest Flexible Fund of Funds. The Prudential Portfolio will become the Intervest Prudential Fund of Funds.

What does this mean to you the investor?

In effect it means that if you have investments in the Top Managers and or Maximizer Portfolio, these would be now be the Intervest Flexible Fund of Funds as from 3 April 2009. Investors in the Prudential Portfolio will be in the Intervest Prudential Fund of Funds as from 3 April 2009.

Retention of performance history

The new Intervest funds will not be permitted to retain the performance history of the old ‘wrap fund portfolios.’ However, the funds will be managed in the same way by the same investment team.

Please note: our recommendations and advice are provided as a free service to our investors. Please read our disclaimer prior to making any investment decision.