Nedgroup Investments appoints Truffle as new “best of breed” manager

Nedgroup Investments has announced the appointment of Truffle Asset Management (“Truffle”) to take over portfolio management responsibilities of the Nedgroup Investments Managed Fund. It is anticipated that Truffle will formally take over the management of the fund within the next month.

The partnership with Truffle covers the Multi-Asset High Equity unit trust category, where the intention is that Nedgroup Investments represents Truffle exclusively. Subject to FSB and unitholder approval, it is intended that the Truffle Met Balanced Fund will be transferred to Nedgroup Investments at a later stage.

Nic Andrew, Head of Nedgroup Investments said: “Truffle exhibits many of the qualities that Nedgroup Investments look for in a manager. They have a stable team of investment professionals with a vast depth of experience and an excellent long-term track record in managing balanced funds. Truffle is an owner managed business with a rigorous investment process based on bottom-up fundamental research, downside protection and risk management. We believe that with assets under management of around R10 billion, they retain the nimbleness to exploit opportunities across the market. We are confident that Truffle will prove to be a successful manager and that our investors are in sound hands.”

Louis van der Merwe, CEO of Truffle stated: “It is an honour to be recognised as one of Nedgroup Investments’ Best of Breed™ partners. This partnership allows us to focus solely on delivering investment performance whilst leveraging off the strong administration, distribution and marketing framework that Nedgroup Investments are so respected for.”

Nedgroup Investments pioneered the “Best of Breed™” investment approach in 2003 and has received industry recognition over the years. In the most recent PlexCrown survey as at 30 September 2015, Nedgroup Investments was ranked both top SA unit trust manager and top offshore FSB approved unit trust manager.

“Our sustained top rankings in both the Morningstar and PlexCrown fund ratings bears testimony to our investment strategy of appointing independent managers who we believe have a sustainable edge in their specific area of expertise. We remain focused on delivering long-term investment performance for our investors,” said Andrew.

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The Allan Gray-Orbis Global Equity Feeder Fund remains fully invested in global equities. The objective of the Fund is to outperform the FTSE World Index at no greater-than average risk of loss in its sector.