Ninety One Global Managed Income Fund
Mixed Allocation · Global · Conservative Allocation
Figures refer to the share class ISIN LU1974397777, currency USD, clean share class.
Fund documents
For the share class shown above.
Factsheet: not publicly available (not found in the public sources checked).
KID (PDF, 27.03.2026)All documents on fundinfoKey facts
- Management company
- Ninety One Luxembourg S.A.
- Asset class
- Mixed Allocation
- Geography
- Global
- Strategy
- Conservative Allocation
- Share class currency
- USD
- Share class inception
- 26.04.2019
- Fund size
- 1138 million (as at 14.09.2026)
- Management fee
- 0.65%
- Performance fee
- No
- Liquidity
- Daily
- UCITS
- Yes
- Risk grade (SRRI)
- 2 (WSP fund database, as at 22.08.2026)
- Registered in Switzerland
- Yes
Price history
Rebased to 100 at 30.09.2021.
Table view
| Period | From | Fund (100 at start) |
|---|---|---|
| 1Y | 03.10.2025 | 103.1 |
| 3Y | 29.09.2023 | 119.5 |
| 5Y | 30.09.2021 | 117.9 |
| Since 2019 | 26.04.2019 | 127.6 |
Total return: distributions reinvested.
In USD, the currency of the share class shown.
Benchmark line not shown: price history held back: source clearance pending.
Fund history to 29.09.2026.
Past performance is not a reliable indicator of future results, and the value of investments can fall as well as rise.
Performance against the benchmark
| 1M | 3M | 6M | YTD | 2025 | 2024 | 2023 | 1Y | 3Y | 5Y | Volatility | Sharpe R. | Max DD | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| FundISIN LU1974397777, currency USD, clean share class | 0.59 | 0.90 | 1.26 | 3.17 | 7.40 | 4.08 | 6.74 | 5.28 | 6.08 | 3.10 | 3.43 | 0.42 | -1.57 |
| BenchmarkConservative USD - 33% MSCI ACWorld + 67% BarCap | 0.94 | 0.27 | 2.25 | 4.83 | 10.48 | 7.86 | 11.89 | 8.34 | 9.44 | 3.87 | 6.26 | 0.75 | -3.57 |
| Differencefund minus benchmark, in percentage points | -0.35 | 0.63 | -1.00 | -1.66 | -3.07 | -3.78 | -5.15 | -3.06 | -3.35 | -0.78 | – | – | – |
Within the list: OpenList — Long Only
Compared with the mixed allocation funds on OpenList — Long Only (1 funds), each in the share class and currency its list shows. Returns are in each share class's own currency and are not converted.
| This fund | Group median | Position | |
|---|---|---|---|
| Return 1Y | 5.28 | Not available in this publication | Too few funds with a value (1) |
| Return 3Y p.a. | 6.08 | Not available in this publication | Too few funds with a value (1) |
| 3Y p.a. over its own benchmark | -3.35 | Not available in this publication | Too few funds with a value (1) |
| Volatility 3Y | 3.43 | Not available in this publication | Too few funds with a value (1) |
| Sharpe ratio 3Y | 0.42 | Not available in this publication | Too few funds with a value (1) |
| Max drawdown 3Y | -1.57 | Not available in this publication | Too few funds with a value (1) |
| Management fee | 0.65% | Not available in this publication | Too few funds with a value (1) |
Position 1 is the highest value, except for volatility and the management fee, where 1 is the lowest; for max drawdown, 1 is the smallest fall.
Share classes on the OpenList
| ISIN | Currency | Type | Mgmt fee | 1Y | 3Y |
|---|---|---|---|---|---|
| LU0972617095 | USD | Retail share class | 1.15% | 4.63 | 5.40 |
| LU1974397777 (shown above) | USD | Clean share class | 0.65% | 5.28 | 6.08 |
Back to the list: OpenList — Long Only
Performance: in %, in the currency of the share class shown. 3Y and 5Y are annualised. Volatility and Sharpe ratio are over three years; Max DD is the largest fall over three years.
– means not applicable. "Not available in this publication" means no value is shown here; it does not mean zero.
Period figures as of 31.08.2026.
This page is advertising within the meaning of the Swiss Financial Services Act. It is not an offer, a recommendation or investment advice. The prospectus and key information document for any fund shown may be obtained free of charge from its management company or Swiss representative
WSP commentary
Draft commentary, machine-generated from the fund's monthly factsheet dated 31.08.2026; key information document (PRIIPs), not yet reviewed by WSP.
Investment rationale
The Global Managed Income Fund is designed to provide income with the opportunity for capital growth over the long term, and is intended to be held for at least 5 years. It is an actively managed global multi-asset fund that seeks to limit volatility to below 50% of global equities, although this is not guaranteed. The product is classified as low risk on the KID summary risk indicator scale at 2 out of 7. The fund is designed to form part of a broader portfolio, but may also be suitable as a significant component of an investor’s overall portfolio for a basic investor who can bear capital loss and invests with advice or on an execution-only basis.
Investment strategy
The fund’s objective is to provide income with the opportunity to grow the value of an investment over the long term. It invests globally across a broad range of assets including bonds, company shares, alternative assets, derivatives, transferable securities and other funds, and may hold cash; equity exposure will normally be no more than 40% of fund value, the fund may invest up to 25% in emerging and frontier markets and up to 20% in mainland China including China Interbank Bond Market bonds and Stock Connect companies. Bonds may be issued by governments, institutions or companies, including emerging and frontier market issuers, and the portfolio currently has modified duration of 2.2 years and an average credit rating of A. The fund is actively managed with no benchmark constraining security selection, and derivatives may be used to achieve investment objectives, manage risks or reduce management costs. This share class is A Inc-2 USD, distributes monthly, and charges expenses to capital rather than income.
Investment philosophy
• The fund invests globally in a range of assets including sovereign and corporate bonds, equities, alternative assets, derivatives, transferable securities and other funds, with a focus on assets expected to provide a reliable level of income and opportunities for capital growth in many market conditions.
• Investment opportunities are identified through in-depth analysis and research on individual companies and countries, and the investment manager is free to select investments because the fund is actively managed without a benchmark constraint.
• The fund promotes environmental and social characteristics under Article 8 SFDR by using the investment manager’s proprietary sustainability framework and excluding certain sectors, business groups and activities; additional exclusions may be applied over time.
• Portfolio construction currently has its largest sector exposures in developed market sovereign debt, emerging market local currency debt, equity and investment grade corporate debt, with net equity exposure after hedging of 10.2%, 133 bond holdings and 53 equity holdings.
Management team
The named portfolio managers are John Stopford and Jason Borbora-Sheen. The report lists them as the portfolio managers for the fund.
The asset manager
The fund is a sub-fund of the Ninety One Global Strategy Fund, a Luxembourg UCITS structured as a SICAV. It is managed by Ninety One Luxembourg S.A., which is regulated by the Commission de Surveillance du Secteur Financier, and the documents state that it is a member of the Ninety One group. The factsheet and key information document identify Ninety One as the firm responsible for the fund materials and investor servicing.
Strengths
The fund combines income generation with a broad global multi-asset mandate spanning sovereign bonds, local currency emerging market debt, corporate credit, equities, infrastructure, property and cash. Its structure is differentiated by a stated aim to keep volatility below half that of global equities while still allowing global allocation across asset classes. The portfolio currently has substantial sovereign bond exposure, moderate equity exposure after hedging, and a short modified duration of 2.2 years. The fund also incorporates binding sustainability features through Article 8 SFDR classification and Ninety One’s Enhanced Integration ESG classification. The A Inc-2 share class distributes monthly and is designed to maximise distributable income by charging expenses to capital.
Risks
The fund is classified as 2 out of 7 on the summary risk indicator, and it does not provide protection against market losses, so investors could lose some or all of their investment. The documents identify general market risk, interest-rate risk and political, social and economic developments as factors affecting the value of investments and income. Because the portfolio invests in fixed income securities, it carries default risk, with lower-credit-quality issuers presenting greater risk of missed interest or principal payments; the fund also holds sub-investment-grade exposure within its credit breakdown. Currency exchange movements may adversely affect value and income, and this is relevant because the fund invests globally and may make payments in a different currency. The use of derivatives can magnify gains and losses and introduces counterparty risk, while emerging and frontier market investments carry higher financial loss risk, and ESG-related events or factors could negatively affect investments. For Inc-2 shares, expenses are charged to capital rather than income, which reduces capital and may constrain future capital and income growth.