Morningstar Fund Report  | 14/04/2025Print

Ninety One Global Income Opportunities Fund A Accumulation

Performance History31/03/2025
Growth of 1,000 (GBP) Advanced Graph
Ninety One Global Income Opportunities Fund A Accumulation
Fund5.6-11.43.34.32.0
+/-Cat-2.5-1.0-4.3-2.42.1
+/-B’mrk-2.4-2.2-6.0-4.22.1
 
Category: GBP Allocation 40-60% Equity
Category Benchmark: Morningstar UK Mod Tgt Allo...
Key Stats
NAV
11/04/2025		 GBX 404.32
Day Change -0.14%
Morningstar Category™ GBP Allocation 40-60% Equity
IA (formerly IMA) Sector Mixed Investment 20-60% Shares
ISIN GB0031074817
Fund Size (Mil)
11/04/2025		 GBP 552.11
Share Class Size (Mil)
11/04/2025		 GBP 241.64
Max Initial Charge -
Ongoing Charge
14/02/2025		  1.62%
Investment Objective: Ninety One Global Income Opportunities Fund A Accumulation
The Fund aims to provide income with the opportunity for capital growth over at least 5 years. The Fund is actively managed and invests in a broad range of assets around the world (including in developed and emerging markets). These assets include the shares of companies, bonds (or similar debt-based assets) of borrowers, listed property securities (such as real estate investment trusts) and other alternative assets (such as investment trusts in infrastructure).
Returns
Trailing Returns (GBP)11/04/2025
YTD0.36
3 Years Annualised0.29
5 Years Annualised3.13
10 Years Annualised0.47
12 Month Yield 2.80
Management
Manager Name
Start Date
Jason Borbora-Sheen
11/05/2020
John Stopford
11/05/2020
Inception Date
02/03/1998

Category Benchmark
Fund BenchmarkMorningstar Benchmark
45% MSCI World HDY H NR GBP ,  55% Bloomberg Global Aggregate TR Hdg GBPMorningstar UK Mod Tgt Alloc NR GBP
Portfolio Profile for  Ninety One Global Income Opportunities Fund A Accumulation28/02/2025
Morningstar Style Box®
Equity Style
Morningstar Style Box®
Fixed Income Style
Asset Allocation
  % Long% Short% Net Assets
Stock34.170.2533.91
Bond90.2424.6565.60
Property0.000.000.00
Cash157.25159.72-2.47
Other2.980.022.96
Fixed Income
Effective Maturity-
Effective Duration-
Top 5 Regions%
United States40.12
United Kingdom16.99
Eurozone16.40
Europe - ex Euro10.61
Australasia4.74
Top 5 Sectors%
Technology16.73
Consumer Defensive16.46
Financial Services15.45
Healthcare14.90
Industrials10.37
Top 5 HoldingsSector%
Us Long Bond Cbt 06258.48
Future on E-mini S&P 500 Futures5.69
United States Treasury Notes 4.625%5.49
United States Treasury Notes 4.75%3.64
Ninety One GSF Glbl Crdt Inc S I... 3.22
Increase Decrease New since last portfolio
Ninety One Global Income Opportunities Fund A Accumulation
Growth Of 1000 (GBP) 31/03/2025
Fund:  Ninety One Global Income Opportunities Fund A Accumulation
Category:  GBP Allocation 40-60% Equity
Category Index:  Morningstar UK Mod Tgt Alloc NR GBP
Growth of 1,000 GBP
Annual Returns (GBP)31/03/2025
 201820192020202120222023202431/03
Price Return-8.037.77-5.345.55-11.433.264.311.95
+/- Category-2.55-4.64-9.42-2.51-0.97-4.27-2.422.09
+/- Category Index---10.63-2.44-2.17-6.00-4.242.06
% Rank in Category909499846995867
Trailing Returns (GBP)11/04/2025
   Total Returns   +/- Category   +/- Category Index
1 Day-0.14   0.02-0.33
1 Week-1.30   0.16-1.33
1 Month-1.99   1.630.69
3 Months0.48   4.043.84
6 Months-1.02   2.301.44
YTD0.36   3.753.55
1 Year4.38   3.522.16
3 Years Annualised0.29   -0.90-2.67
5 Years Annualised3.13   -1.43-1.74
10 Years Annualised0.47   -2.51-3.88
 
Category: GBP Allocation 40-60% Equity
Category Index: Morningstar UK Mod Tgt Alloc NR GBP
Quarterly Returns (GBP)31/03/2025
 Quarter 1Quarter 2Quarter 3Quarter 4
20251.95---
20241.390.234.92-2.16
20231.24-1.82-1.014.95
2022-5.33-7.20-3.744.74
20212.592.17-2.222.99
2020-20.2110.011.566.18
 
 
 
Morningstar Rating™(Relative to Category)31/03/2025
 Morningstar ReturnMorningstar RiskMorningstar Rating™
3-YearBelow AverageBelow Average2 star
5-YearBelow AverageAverage2 star
10-YearLowAbove Average1 star
OverallBelow AverageAverage2 star
 
Category :  GBP Allocation 40-60% EquityClick here to see our Methodology
Volatility Measurements31/03/2025
 
3-Yr Std Dev6.60 %
3-Yr Mean Return1.12 %
 
3-Yr Sharpe Ratio-0.44
 
Modern Portfolio Statistics31/03/202531/03/2025
 Standard IndexBest Fit Index
 Morningstar UK Mod Tgt Alloc NR GBP  Morningstar Gbl Corp Bd GR Hdg GBP
3-Yr Beta0.730.73
3-Yr Alpha-2.76-0.85
 
Investment Style Details28/02/2025
Morningstar Style Box®
Equity Style
SizeRel to Cat
Average Mkt Cap (Mil)GBP 78211-
Market Capitalisation% of Equity
Giant49.44
Large32.10
Medium15.83
Small2.64
Micro0.00
Valuations and Growth RatesEquity PortfolioRelative to Category
Price/Prospective Earnings14.830.89
Price/Book2.611.02
Price/Sales1.570.86
Price/Cash Flow10.080.89
Dividend-Yield Factor3.531.46
 
Long-Term Projected Earnings Growth8.370.86
Historical Earnings Growth4.420.64
Sales Growth2.540.41
Cash-Flow Growth2.230.47
Book-Value Growth5.781.03
 
Category: GBP Allocation 40-60% Equity
Fixed Income Style-
Morningstar Style Box®
Fixed Income Style
SizeRel to Cat
Total Market Value (Mil)GBP 574
Maturity Distribution %
1 to 310.98
3 to 515.81
5 to 713.45
7 to 1025.43
10 to 1511.91
15 to 200.80
20 to 303.82
Over 300.05
Effective Maturity-
Effective Duration-
Credit Quality Breakdown %     %
AAA -   BB-
AA-   B-
A-   Below B-
BBB-   Not Rated-
 
Category: GBP Allocation 40-60% Equity
Asset Allocation28/02/2025
Asset Allocation
 % Long% Short% Net Assets
Stock34.170.2533.91
Bond90.2424.6565.60
Property0.000.000.00
Cash157.25159.72-2.47
Other2.980.022.96
World Regions28/02/2025
 % of EquityRelative to Category
United States40.120.76
Canada1.561.52
Latin America1.712.85
United Kingdom16.990.81
Eurozone16.402.25
Europe - ex Euro10.613.24
Europe - Emerging0.000.00
Africa0.000.00
Middle East0.000.00
Japan0.000.00
Australasia4.745.23
Asia - Developed3.541.11
Asia - Emerging4.341.25
 
Category: GBP Allocation 40-60% Equity
Sector Weightings28/02/2025
 % of EquityRelative to Category
Basic MaterialsBasic Materials8.232.53
Consumer CyclicalConsumer Cyclical5.020.49
Financial ServicesFinancial Services15.450.87
Real EstateReal Estate2.040.44
Consumer DefensiveConsumer Defensive16.462.28
HealthcareHealthcare14.901.39
UtilitiesUtilities6.832.17
Communication ServicesCommunication Services2.000.29
EnergyEnergy1.980.49
IndustrialsIndustrials10.370.85
TechnologyTechnology16.730.83
 
Category: GBP Allocation 40-60% Equity
Top 10 Holdings28/02/2025
 Portfolio NEW
Total Number of Equity Holdings42
Total Number of Bond Holdings153
Assets in Top 10 Holdings37.67
NameSectorCountry% of Assets
Us Long Bond Cbt 0625United States8.48
Future on E-mini S&P 500 FuturesUnited States5.69
United States Treasury Notes 4.625%United States5.49
United States Treasury Notes 4.75%United States3.64
Ninety One GSF Glbl Crdt Inc S Inc2 USDLuxembourg3.22
United Kingdom of Great Britain and N... United Kingdom3.01
United States Treasury Notes 4.875%United States2.33
United States Treasury Notes 4.875%United States2.03
United States Treasury Notes 2.875%United States1.91
Federal National Mortgage Association 6%United States1.89
 
Increase Decrease New since last portfolio
Category: GBP Allocation 40-60% Equity
 
Management
Name of CompanyNinety One Fund Managers UK Limited
Phone+44-2039382000
Websitewww.ninetyone.com
Address55 Gresham Street, London EC2V 7EL
 London   EC2V 7EL
 United Kingdom
DomicileUnited Kingdom
Legal StructureOpen Ended Investment Company
UCITSYes
Inception Date02/03/1998
Fund Advisor(s)
Ninety One UK Limited
Fund ManagerJason Borbora-Sheen
Manager Start Date11/05/2020
 
Biography
Jason is a portfolio manager in the Multi-Asset team at Ninety One. He is co-portfolio manager of the Multi-Asset Income strategies and his research responsibilities include equities. He joined the firm in 2015 to work on the income strategy as an analyst with responsibility for its equity exposure. Prior to this he worked for Pan Asset Capital Management as an assistant fund manager on multi-asset portfolios. Previously, Jason worked for BlackRock as an analyst. Jason studied Law at Oxford University. He holds an Investment Management Certificate and is a CFA® charterholder.
Fund ManagerJohn Stopford
Manager Start Date11/05/2020
Education
1995, University of Oxford, B.S.
 
Biography
John is Head of Multi-Asset Income at Ninety One. He is co-portfolio manager of the Multi-Asset Income strategies and has macro focussed research responsibilities. During his time at the firm John has held senior positions as Co-Head of Fixed Income & Currency, having previously been responsible for the management of our South African fixed income assets from 1998 to 2004. John joined Guinness Flight in 1993, which was later acquired by our firm, and took responsibility for investments in emerging bond and currency markets. Prior to this, he worked in London and Tokyo as a specialist global bond and currency portfolio manager for Mitsui Trust Asset Management. John graduated from the University of Oxford with an honours degree in Chemistry in 1990 and he is a CFA® Charterholder.
Fees and Expenses
Sales Charges (Maximum) 
Max Initial Chargen/a
Max Exit Charge*n/a
Annual Charges
Max Annual Management Charge1.50%
Ongoing Charge1.62%
Purchase Details
Minimum Investments
Initial1000  GBP
Additional500  GBP
Savings100  GBP
Tax Free Savings Schemes
ISAsYes