GIB introduces the Destiny Global Enhanced Portfolio

GIB has introduced a market first, the Destiny Global Enhanced Portfolio. GIB will ensure that the Portfolio will invest a maximum of 45% with offshore asset managers in hard currency and uses a selection process within the remaining local equity component to invest in South African companies that generate most of their revenue outside of SA in hard currency.

This unique construction process allows the use of several specialist, active and passive single manager mandates to create an aggressive global facing portfolio whilst still taking advantage of local retirement tax concessions.

The Portfolio has the maximum allowable allocation to foreign equities and invests locally in companies listed on the JSE that have significant global exposure. You can now effectively globally diversify your retirement by gaining exposure to offshore markets while still being part of a South African Retirement Fund.

Characteristics of the local equity component

• Companies must derive at least 75% of their net income from a currency other than the rand, and / or

• At least 75% of the company's assets must be based / domiciled in a currency other than the rand, and / or;

• At least 75% of a company's revenue is indexed to a hard currency-based index price.

• This local equity component attempts to avoid duplication by excluding subsidiary companies.

• It does not limit industry concentration.

• It does not exclude certain single commodity stocks.

• It may exclude certain stocks due to liquidly constraints.

• Stocks were equally weighted at inception and may be re-weighted at the manager’s discretion.

GIB constructed the Destiny Global Enhanced Portfolio as the next step in the evolution of retirement savings and offshore investing.

The Portfolio leverages the resources, relationships, and insights of the world’s best investment managers to help members achieve their global retirement objectives across markets throughout the world.

Please contact your GIB consultant or financial planner to find out more about the Destiny Global Enhanced Portfolio.