10 Years of Long-Term Investment Success

Ten years ago, FNB launched a range of outcomes-based unit trusts known as the FNB Horizon Series. The aim was to give South Africans access to professionally managed, diversified portfolios built on disciplined asset allocation, risk management and expert manager selection. The series consists of a range of risk-profiled multi-asset solutions that include local and offshore asset classes, as well as assets beyond stocks and bonds.

A decade later, through a pandemic, rising interest rates, geopolitical shocks and repeated bouts of market volatility, the FNB Horizon Series has demonstrated its ability to deliver consistent, above-inflation growth across every risk profile.

Bheki Mkhize, CEO of FNB Wealth and Asset Management says the 10-year milestone reflects the achievement of exactly what FNB Horizon Series set out to do when it was launched a decade ago. “Our goal was to help South Africans invest with confidence, whatever they were working towards – from buying a first home or funding their children’s education to building a comfortable retirement.”

“Ten years and multiple market cycles later, the results speak for themselves. As highlighted in the latest FNB results, the FNB Horizon Funds continued to deliver strong outcomes, generating double-digit returns across key mandates, outperforming relevant benchmarks, and ranking in the first or second quartile of peer funds. This milestone is not just about performance, but proof that disciplined, advice-led investing works,” says Mkhize.

“The Horizon Series is built on a disciplined strategic asset allocation framework that anchors each fund’s long-term risk and return objectives. This is complemented by tactical adjustments and a blend of active and index investment strategies, enabling us to respond to changing market conditions while maintaining diversified, cost-efficient portfolios for our clients,” adds Mkhize.

The growth achieved by FNB Horizon Funds confirms this sentiment. Between June 2016 and May 2026, R100 invested in any of the three Horizon Series risk-profiled funds would have more than doubled. By comparison, a R100 investment that merely kept up with inflation would have grown to around R157, meaning that investors in any of the FNB Horizon Series funds, even the most conservative, have enjoyed substantial above-inflation growth.

The benefits become even more meaningful when viewed through the lens of regular investing. In practical terms, these numbers translate to solid outcomes, even for those who invested regular amounts rather than a lump sum at the outset. An investor who contributed R3 000 a month to the FNB Growth Fund of Funds over the past decade would have invested R360 000 in total, but ended the period with a fund balance of almost R565 000 – a return of more than R200 000.

According to Mkhize, one of the secrets to the success of the Horizon Series has been its diversified range, designed to meet clients wherever they are on their investment journey.

The FNB Stable Fund of Funds, FNB Moderate Fund of Funds and FNB Growth Fund of Funds span the risk spectrum, giving investors – from cautious retirees to growth-focused young professionals – a considerable and suitable home for their capital without expecting them to select and monitor individual investments themselves.

“Not every investor has the same goals, timelines or appetite for risk, and that’s exactly why the FNB Horizon Series was built as a range rather than a single fund. Whichever profile a client chooses, our job is to ensure they have access to consistent, risk-aware, expertly managed portfolios that can weather uncertainty and still deliver solid long-term outcomes,” says Mkhize.

Beyond the headline numbers, the consistency of the FNB Horizon Series stands out. Over the past decade, all three funds’ outcomes compare favourably against both their respective peer groups as well as CPI-plus objectives – a track record built not on any single strong year, but on sustained, risk-aware management through multiple market cycles.

Mkhize says, “as we look to the next decade, our focus will be on giving our clients a good reason to stay invested. That means continuing to innovate in how we manage risk, deepening our ESG integration, and making it even easier for South Africans to start, or stay on, their investment journey and see their money grow over time.”

“As we celebrate 10 years of the FNB Horizon Series, we encourage both existing and prospective investors to use this milestone as an opportunity to review their portfolios and ensure they remain appropriately positioned to achieve their long-term financial goals. While the next decade will undoubtedly bring new opportunities and challenges, our commitment remains unchanged: helping clients navigate uncertainty with confidence through disciplined investing, professional advice and diversified portfolios built to endure across market cycles,” concludes Mkhize.