Absa Absolute Fund tops R2,5 billion

The Absa Absolute Fund managed by Absa Asset Management has topped the R2,5 billion-mark in assets under management.

The fund uses a diversified mix of assets to lower overall risk while pursuing a real return of CPI plus 4%. The aim is to grow capital while minimising the risk of loss in any 12-month period. Instruments include equities, fixed interest, inflation-linked bonds and property.

In addition, Absa Asset Management has gained institutional mandates for absolute funds of R4 billion since the beginning of last year.

Errol Shear, chief investment officer of Absa Asset Management, noted: “We are delighted by the continued growth of the Absa Absolute Fund in a challenging market. Its success confirms our view that the average South African investor tends to conservatism. Consistently beating inflation is the key goal, especially in the current environment.”