In our guide today, we will focus on the Absa flexible income fund in South Africa.
This fund seeks optimal income with income stability, with medium to the low risk to the investors.
If you need a monthly income and want a higher yield than money market rates, this fund is ideal for you.
The fund is actively managed and offers you a fixed interest mandate.
You also get investment ability that provides additional opportunities for yield enhancement.
We will first show you the requirements to apply for this fund.
Requirements For Flexible Income Fund
Below are the basic requirements to apply for the fund:
- Valid South African ID that has been signed three times
- You must have a birth certificate
- Proof of address older than three months
- Tax number or that of a guardian if you are not of the legal age
- You must have proof of income, like a bank statement
If you have any issues during the application, you can email Absa at utapplications@absa.co.za.
You can also contact Absa at 0860 111 456.
These are the requirements to apply for the Absa flexible income fund in South Africa.
Features of Absa Flexible Income Fund In South Africa
The fund is under the SA Multi-Asset Income industry category and was launched on 20th April 2004.
This fund is ideal for short- to medium-term investments and has a flexible structure.
The fund, however, is income biased in that income is the main objective.
The fund size is R2.1 billion.
The minimum lump sum investment is R2 000, and the minimum monthly investment is R200.
These are the features of the flexible income fund in South Africa.
Absa Flexible Income Fund
The flexible income fund invests most of its assets in South African investment markets at all times.
The fund flexibly allocates assets within the non-equity securities markets and assets and assets in liquid forms.
The assets are also allocated in participatory interests in property based collective investment schemes.
The risks associated with this fund include interest rate inflations, fluctuation in real estate prices and social, economic and political factors.
This is all you need to know about Absa flexible income fund in South Africa.
