The Year TBI Went Global
2025 will be remembered as the year TBI achieved its goal to bring high quality global assets and credit into reach of South African investors.
For years, our focus has been clear: consistent income, preserved capital, and tax-aware outcomes that hold their value through changing cycles.
This year, we applied those same principles beyond our borders, benchmarks, and balance sheets and listed two global funds on the JSE, the TBI Global Multi-Asset Income Fund and the TBI Global Targeted Yield Fund.
A Milestone Moment: Listing the TBI Global Multi-Asset Income Fund
In January, we rang the bell to mark the inward listing of the TBI Global Multi-Asset Income Fund, a rand-hedged vehicle giving South African investors seamless access to global income opportunities.
The listing brought offshore diversification within reach, without the administrative or currency friction that typically accompanies it.
Since launch, the fund has grown beyond R280 million, achieving returns in line with its SOFR (United States Secured Overnight Financing Rate published by the Federal Reserve Bank of New York) – + 4.5% target range and validating the investor appetite for steady, real-world income.
At a time when income funds are beating inflation, the TBI Global Multi-Asset Income Fund doesn’t hide behind pre-tax structures, offering our investors ethical after-tax returns instead.
Going Deeper: The Launch of the TBI Global Targeted Yield Fund
Later in the year, TBI introduced the TBI Global Targeted Yield Fund: a focused global credit strategy designed to complement the broader Multi-Asset Fund.
Where the Multi-Asset Fund draws income from diversified global exposures, the Targeted Yield Fund drills into high-quality global credit, targeting SOFR + 2% through selectivity.
2025 proved how much that discipline matters. As global credit spreads tightened and issuance slowed, the ability to identify sustainable counterparties, rather than just higher yields, became the real differentiator.
We’ve built the Targeted Yield Fund for the long game with the aim of delivering consistent, risk-adjusted returns.
Staying Grounded: The SCI Funds at the Core
While TBI expanded globally, our local foundation continued to deliver exactly what it was designed for.
The SCI Diversified Income Fund of Funds has maintained zero monthly drawdowns since inception, combining 48 hour liquidity with after-tax efficiency.
The SCI Alternative Income Fund complements it with enhanced yield through structured instruments – a practical choice for investors who need liquidity without sacrificing return.
December Holidays: A Safe Place to Park Your Cash
December can be a deceptively volatile month. Markets are thin, traders are away, and even small shocks – from policy surprises to sudden currency moves – can ripple further than expected. That’s why liquidity matters most when most people aren’t watching.
Investors often face a familiar question: where to hold cash temporarily without losing ground.
Eugene offers a straightforward answer: “The SCI Alternative Income Fund gives investors a safe parking space. You can stay liquid, stay protected, and still earn meaningfully over the holidays.”
That same principle of earning without overreaching continues to guide how we structure every fund in the TBI range – local and global alike.
Closing Reflection
2025 was the year TBI went global, proving our investment philosophies travel well.
Across all our funds, one idea holds steady: investors don’t need to choose between opportunity and discipline. The balance between the two is where consistent income is built.
As we close the year, we thank our partners, advisers, and investors for their trust. We look forward to another year of measured progress, thoughtful growth, and steady outcomes.
