STANLIB Cash Plus Fund gets FSB green light

STANLIB, developer of one of the country's largest financial product ranges, announced today (Wednesday, November 8) that Financial Services Board (FSB) approval had been received for its Cash Plus Fund.
 
This actively managed fixed-interest fund is invested in a mix of fixed-interest instruments with an average duration of 180 days.
 
Kim Zietsman, STANLIB's Head of Single Manager Unit Trusts, commented: "We're delighted by FSB approval for a product that responds to a wide range of investor needs at this particular time.

"We believe innovative product features, ready access to capital and the prospect of lower volatility at the short end of the yield curve will find favour with many clients in the current investment climate."

Unlike money market funds (where the unit price does not change), the STANLIB Cash Plus Fund will price in accrued income. Capital will fluctuate with movements in the value of underlying instruments.

Income will be declared and paid monthly. The fund objective is to achieve returns in excess of money market and current account yields.

The STANLIB Cash Plus Fund is targeted at both institutional and retail investors and will be managed Juan Bekker, who also manages the STANLIB Extra Income Fund.