Nedgroup triumphs again in offshore

AT THE Raging Bull Awards gala dinner at the Cape Town International Convention Centre this week, the second major company award was for unit trust companies that are domiciled offshore and whose funds are approved by the Financial Sector Conduct Authority (FSCA) to be marketed to South African investors.

The Raging Bull Award for Offshore Manager of the Year (2018) went to Nedgroup Investments International.

Like Allan Gray in the domestic manager category, Nedgroup Investments International have won the offshore manager award multiple times: four times in a row in the last four years, last year sharing first place with Investec

Funds domiciled in Europe are known as UCITS funds. UCITS, which stands for the Undertakings for the Collective Investment of Transferable Securities, is, according to Investopedia, a regulatory framework of the European Commission that creates a harmonised regime throughout Europe for the management and sale of mutual funds (known in South Africa as unit trust funds).

Nedgroup Investments International’s funds are constituted as UCITS funds domiciled in Ireland. There were three qualifying offshore funds: the Global Equity Fund, which earned five PlexCrowns and two multi-asset funds – the Global Flexible Fund (four PlexCrowns) and Global Cautious Fund (four PlexCrowns).

The manager’s overall rating was 4.5 PlexCrowns.

THE HEAD of investments at Nedgroup Investments, Robin Johnson, collects the Raging Bull Award for the Offshore Manager of the Year (2018) from Martin Hesse, the content editor of Personal Finance.