The Investec Value Fund produced an absolute return of 107% over the past three years. The fund manager's investment strategy was to focus on high dividend yielding shares which resulted in a preponderance of small and mid-cap shares to the almost complete exclusion of shares in the All Share index top 40. The fund currently has a high exposure to defensive sectors such as Food, Transport and Chemicals & Oils.
(Source: Financial Mail, 19 October 2001)