Atlantic Credit Enhanced Guaranteed Fund

South Africa

Last updated 12 May 2020, by Impactyield.

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Ashburton's Credit Enhanced Guaranteed Fund is an actively managed unlisted debt fund investing in commercial organisations that provide positive and sustainable returns, predominantly in the affordable housing, agriculture, education and health care sectors. The Fund seeks to provide a measurable positive impact on society by ensuring that the investments also deliver a high social impact. These positive impact results will include tracking job creation, a consequence of which the Fund has secured a partial first loss capital guarantee from the Jobs Fund program (as overseen by the SA Government's National Treasury). Our fund management skill lies in identifying attractive, investment grade yield enhancement opportunities in a relatively untapped universe. Recent changes to the Pensions Fund Act (Regulation 28) give institutions greater scope to consider alternative investment opportunities and thus serve to unlock value in the large potential universe of unlisted corporate credit.

Financial description

We believe that a combination of identifying inefficiency in market pricing and a thorough focus on valuation yields positive sustainable returns. The Fund’s performance target is CPI +3% on a rolling 3- year term. The return profile is expected to be stronger than the All Bond Index, while volatility is demonstrably close to cash and offers investors a less volatile investment than funds with similar levels of risk.
By investing in intermediary companies who seek expansion capital to promote economic growth, the fund will also explicitly measure social and environmental impact.

9 years

of track record


the year funded

700,000,000 ZAR


Asset manager

Ashburton Investments


Headquarters location:

Other funds managed by this asset manager: Atlantic Money Market Impact Fund

SDG goals

SDG targets

Equal rights to ownership basic services technology and economic resources

Promote policies to support job creation and growing enterprises

Full employment and decent work with equal pay

Increase access to financial services and markets

Key performance indicators

Fund overview

Asset manager: Ashburton Investments

Product track record: Fund has 9 years of track record

Target IRR: n.a.

Committed Capital: n.a.

Target return category: Risk-adjusted market-rate of return

Fund domicile:

Product status:

Style/Stage: ,

Inception year: 2014

Vintage year: 2015

Target region: , , ,

Target close date: n.a.

Product term: Debt Fund with open term

Assets under management: 700,000,000 ZAR (Rand)

Investment size: Min: 10,000,000; Max: 65,000,000; Avg: 53,000,000

Co-investment policy:

Currency of investments:

Currency for fund / product figures:

Fund investments to date: 11

Fund investments to date exited or repaid: 0

Management fee: 0.85%

Carried interest: n.a.

Hurdle rate: n.a.

GIIN Investors' Council Investment: No

Limited Partners / Investors: Currently 4 LP's are invested in the Fund.

Limited Partner / Investor Type: Development Finance Institution (DFI), Family Office, Pension Funds, Other Institutional Investors


E-mail: n.a.


Phone number: 27873356907.00

If you wish to have your details removed from this database please email

Dean Hand

Business Development

Impact Performance


Impact thesis

The social and environmental impact of all investments is measured and reported to clients on a regular basis. We utilise global impact measurement standards (Impact Reporting and Investment Standards) to quantify the social and environmental impact of each investment.

Impact Management


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