Company overview
Established in 2005, NFB Asset Management (Pty) Ltd (NFB AM) operates as a prominent entity within the NFB Group, which was originally founded in 1985. Initially, NFB AM was equally held by NFB Finance Brokers Gauteng (Pty) Ltd and NFB Finance Brokers Eastern Cape (Pty) Ltd. It later became wholly owned by NVest Financial Holdings Group Ltd (NVFH), which was previously listed on Alt-X. In March 2022, N85 Holdings (Pty) Ltd acquired a 45% stake in NFB AM, with the staff holding a 10% stake. NVFH retains the remaining ownership.
Based in Johannesburg, NFB AM is a licensed Category II Financial Services Provider under the Financial Sector Conduct Authority (license number 25962) and manages assets exceeding R8 billion. The company focuses on long-term investments, guided by the belief that returns are best achieved through strategic asset allocation. This approach is influenced by the principles that markets are inherently irrational, mean-reverting, and can be leveraged accordingly. NFB AM primarily manages collective investment schemes and model portfolios, both onshore and offshore.
Recognised for its excellence, NFB AM has received several prestigious awards and nominations, including Raging Bull, Morningstar, and Citywire accolades, spanning from 2016 to 2022.The company is led by directors: Andrew Duvenage, Anthony Godwin, Gavin Ramsay, William Higgs, and Paul Marais (Managing Director).
Key staff
Michael Estment
Chairman & Director
Andrew Duvenage
Director
Anthony Godwin
Director
Gavin Ramsay
Director
Paul Marais
Managing Director
Contact details
Tel no.: +27 11 895 8000
Website: www.nfb.co.za
Fund details
The NFB Ci Diversified Income Fund is a multi-asset income portfolio. The investment objective of the portfolio is to provide investors with a high level of income combined with capital preservation.
The portfolio maintains a low risk profile and the portfolio’s equity exposure will be limited to a maximum of 10% of the portfolio’s net asset value. The portfolio will comply with prudential investment guidelines to the extent allowed by the Act.
Investments to be included in the portfolio may, apart from assets in liquid form, consist of non-equity securities, fixed interest instruments (including but not limited to bonds, corporate bonds, inflation linked bonds, convertible bonds, cash deposits and money market instruments), debentures, preference shares and property securities as well as any other income enhancing securities which are considered consistent with the portfolio’s primary objective and that the Act may allow from time to time.
The portfolio may also include participatory interests in portfolios of collective investment schemes or other similar collective investment schemes registered in the Republic of South Africa or of participatory interests in collective investment schemes or other similar schemes operated in territories with a regulatory environment which is to the satisfaction of the Manager and the Trustee of a sufficient standard to provide investor protection which is at least equivalent to that in South Africa.
The objective of this portfolio is to provide investors with income and long-term capital growth from a portfolio that maintains a low risk profile, whilst preserving capital.
The portfolio will invest in assets in liquid form, and in participatory interests of portfolios of collective investment schemes registered in the Republic of South Africa or of participatory interests in collective investment schemes or other similar schemes operated in territories with a regulatory environment which is to the satisfaction of the manager and the trustee of a sufficient standard to provide investor protection which is at least equivalent to that in South Africa. The portfolio will invest in participatory interest of underlying portfolios which provide exposure to a spectrum of equity, bond, non-equity and property markets. The underlying portfolios may have exposure to financial instruments, subject to prevailing regulations.
The asset allocation in the portfolio will be actively managed and the assets will be shifted between the markets and asset classes to reflect changing economic and market conditions. The portfolio will at all times comply with regulations governing pension funds. The Manager will be permitted to invest on behalf of the NFB Ci Stable Fund in offshore investments as legislation permits.
The portfolio will invest in assets in liquid form, and in participatory interests of portfolios of collective investment schemes registered in the Republic of South Africa or of participatory interests in collective investment schemes or other similar schemes operated in territories with a regulatory environment which is to the satisfaction of the manager and the trustee of a sufficient standard to provide investor protection which is at least equivalent to that in South Africa. The portfolio will invest in participatory interest of underlying portfolios which provide exposure to a spectrum of equity, bond, non-equity and property markets. The underlying portfolios may have exposure to financial instruments, subject to prevailing regulations. The portfolio will have an equity exposure of no more than 40%.
The objective of this portfolio is to provide investors with income and medium to long term capital growth from a portfolio that maintains a low risk profile whilst preserving capital. In order to aim to provide a level of capital protection, the portfolio’s equity exposure may not exceed 40% of the portfolio’s net asset value. The composition of the portfolio will reflect the investment structure of a retirement fund with a medium to high risk profile and will comply with prudential investment guidelines to the extent allowed by the Act.
Investments to be included in the portfolio may, apart from assets in liquid form, consist solely of participatory interests in portfolios of collective investment schemes or other similar collective investment schemes registered in the Republic of South Africa or of participatory interests in collective investment schemes or other similar schemes operated in territories with a regulatory environment which is to be satisfaction of the Manager and the Trustee of a sufficient standard to provide investor protection which is at least equivalent to that in South Africa. The portfolio will invest in portfolios or other forms of participation in similar schemes that provide exposure to a wide spectrum of markets, including equity, non-equity, property and money markets.
The objective of this portfolio is to provide investors with medium to long-term capital growth from a portfolio that maintains a medium risk profile. This portfolio may create some income, but it will not be a primary objective for this portfolio.
The portfolio will invest in assets in liquid form, and in participatory interests of portfolios of collective investment schemes registered in the Republic of South Africa or of participatory interests in collective investment schemes or other similar schemes operated in territories with a regulatory environment which is to the satisfaction of the manager and the trustee of a sufficient standard to provide investor protection which is at least equivalent to that in South Africa. The portfolio will invest in participatory interests of underlying portfolios that provide exposure to a spectrum of equity, bond, non-equity and property markets and may have exposure to financial instruments, to subject prevailing regulations.
The asset allocation in the portfolio will be actively managed and the assets will be shifted between the markets and asset classes to reflect changing economic and market conditions. The portfolio will at all times comply with regulations governing pension funds. The Manager will be permitted to invest on behalf of the NFB Ci Managed Fund in offshore investments as legislation permits.
The portfolio will invest in assets in liquid form, and in participatory interests of portfolios of collective investment schemes registered in the Republic of South Africa or of participatory interests in collective investment schemes or other similar schemes operated in territories with a regulatory environment which is to the satisfaction of the manager and the trustee of a sufficient standard to provide investor protection which is at least equivalent to that in South Africa. The portfolio will invest in participatory interests of underlying portfolios that provide exposure to a spectrum of equity, bond, non-equity and property markets and may have exposure to financial instruments, to subject prevailing regulations. The portfolio will have an equity exposure of up to 60%.
The objective of the portfolio is to provide investors with medium to high long-term capital growth from a portfolio that maintains a medium to high risk profile. The portfolio may create some income, but it will not be a primary objective of this portfolio.
The portfolio’s equity exposure will be between 0% and 75% of the portfolio’s net asset value. The composition of the portfolio will reflect the investment structure of a retirement fund with a medium to high risk profile and will comply with prudential investment guidelines to the extent allowed by the Act.
Investments to be included in the portfolio may, apart from assets in liquid form, consist solely of participatory interests in portfolios of collective investment schemes or other similar collective investment schemes registered in the Republic of South Africa or of participatory interests in collective investment schemes or other similar schemes operated in territories with a regulatory environment which is to the satisfaction of the Manager and the Trustee of a sufficient standard to provide investor protection which is at least equivalent to that in South Africa. . The portfolio will invest in portfolios or other forms of participation in similar schemes that provide exposure to a wide spectrum of markets, including equity, non-equity, property and money markets.
The objective of the portfolio is to provide investors with long term capital growth. This Portfolio aims to achieve total returns in excess of the MSCI All Countries World Index on a rolling 5-year basis. Investments to be included in the portfolio may, apart from assets in liquid form, consist of local and global equity securities, non-equity securities, convertible stock, preference shares and property securities as well as any other securities which are considered consistent with the Portfolio’s primary objective and that the Act may allow from time to time.
The Portfolio Manager will have the maximum flexibility to vary assets between the various markets, asset classes and countries to reflect the changing economic and market conditions. The Portfolio may also include participatory interests in portfolios of collective investment schemes and may from time to time invest in listed and unlisted financial instruments.
The NFB Ci Global Balanced Feeder Fund is a Feeder Fund. The investment objective of the portfolio is to provide capital growth by providing investors with exposure to an international collective investment scheme portfolio comprising a diversified mix of global exposure to various asset classes.
The NFB Global Balanced Fund of Funds, the target portfolio, will follow a fund of funds approach and accordingly up to 100% of the Net Asset Value of the Fund may be invested in Underlying Funds in accordance with the investment restrictions and, subject thereto in such proportions as the Investment Manager shall deem appropriate from time to time, subject to a maximum exposure of any one Underlying Fund not exceeding 20% of the portfolio’s Net Asset Value.
