What can the Bentham Global Income PIE Fund actually invest in?
The fund's Statement of Investment Policy and Objectives (SIPO) defines the asset classes it can hold and the allowable target / min / max weights for each.
Strategic asset allocation ranges
| Asset class | Target | Min | Max |
|---|---|---|---|
| International fixed interest (via the Underlying Fund) | 100% | 90% | 110% |
| Cash and cash equivalents | — | -10% | 10% |
Mandate flexibility (sum of max − min across all ranges): 40%. Narrow range — index-tracking style with limited drift.
Explicit exclusions (2)
- Tobacco manufacturers/producers (any revenue from manufacture and/or production of tobacco products)
- Companies that manufacture controversial weapons (including anti-personal mines, cluster munitions, nuclear weapons, and biological weapons)
Responsible-investment approach
Labour standards, environmental, social, ethical and governance considerations are taken into account in the selection, retention, and realisation of investments. Standards are country and industry specific. Explicit exclusions apply to tobacco manufacturers/producers and companies that manufacture controversial weapons (including anti-personal mines, cluster munitions, nuclear weapons, and biological weapons). No formal rating systems, criteria, methodologies or weighting systems are applied. Bentham is a signatory of PRI.
Derivatives policy
Derivatives are used as a risk management tool and may include currency swaps, interest rate swaps, credit default swaps, total return swaps, futures and options. The Underlying Funds are not intended to be leveraged through derivatives (Income Fund), though the Opportunities Fund's underlying Bentham Global Opportunities Fund may use derivatives for leverage up to 30% of gross asset value.