Causeway Securities is authorised and regulated by the UK Financial Conduct Authority (FCA FRN 749440) and its US entity, Causeway Securities LLC, is a FINRA member since July 2022.
Causeway is also registered with the South African Financial Sector Conduct Authority (FSCA FSP No. 52397), reflecting its growing international footprint.
In 2025, Causeway acquired Levendi Investment Management, taking the company’s overall Fund AUM to over £150-million. This strategic acquisition has strengthened Causeway’s fund management capabilities and complements its structured product expertise. The Causeway team comprises over 40 professionals across four continents, bringing deep expertise in structured investments. Causeway partners with over 20 leading global banks to ensure competitive pricing and counterparty diversification.
Issuers include highly rated institutions such as Barclays (A1/A+/A+), BNP Paribas (A1/A+/AA-), Goldman Sachs (A1/A+/A+), Morgan Stanley (A1/A-/A+) and UBS (Aa2/A+/A+), ensuring strong creditworthiness and financial stability.
Investment philosophy and process
Causeway Securities designs and executes structured investment solutions with a client-centric approach. Every product is built on rigorous market research and tailored to meet specific client outcomes. The firm prioritises transparency, integrity and cost-efficiency, ensuring that value and performance are central to its offerings. Structured products are linked to a variety of underlying assets, typically major global indices such as the FTSE 100, S&P 500, Nikkei 225 and Euro Stoxx 50. Causeway balances risk and return by offering products that provide dynamic outcomes, capital protection and the potential for positive returns even in flat or slightly declining markets.
Causeway’s key products
Causeway Securities specialises in diversified structured investment solutions, ranging from capital-protected notes and yield-enhancement notes to unitised funds. Our solutions are designed to generate income, offer growth potential and help mitigate downside risk. Popular offerings include growth, income and capital-protected notes with dynamic investment terms, enabling investors to plan with greater confidence.
The Causeway Dynamic Growth Fund is a standout product, offering equity-like returns with lower volatility and managed risk. Key benefits include enhanced return potential in sideways markets, reduced volatility, portfolio diversification and capital protection, making it ideal for wealth creation and preservation.
The Causeway Dynamic Growth Fund is a UCITS-regulated investment vehicle offering daily pricing and liquidity. Investors can buy or sell units on any business day via major platforms and life companies. This and the Fund’s open-ended structure provide transparency and flexibility.
In contrast, structured products typically have fixed terms with pre-determined life span. While issuers (usually large investment banks) provide daily price indications and support a secondary market, early exits may involve bid-offer spreads and the mark-to-market value of the investment is affected by the performance of the underlying, market volatility and credit risk.
The Causeway Dynamic Growth Fund addresses these challenges by offering daily liquidity and simplified access, making it a more flexible solution for advisor.
Fees and costs
Causeway Securities is committed to transparency and cost-efficiency. All product and management fees are embedded at the outset, meaning clients incur no ongoing charges. Structured products are designed to be held until maturity, where protection and returns are realised.
Early withdrawals are permitted but may result in clients receiving less than their initial investment. Issuing banks provide daily secondary market pricing, including accrued interest, typically published on platforms like Bloomberg. This structure ensures clarity and predictability in cost, with no hidden fees or performance-based charges.
Regulation and governance
In South Africa, the Causeway Dynamic Growth Fund has been approved in terms of Section 65 of the Collective Investment Schemes Control Act, 2002 and is categorised as a Collective Investment Scheme in Hedge Funds targeting retail investors.
The firm maintains a robust product governance framework to oversee the development and distribution of its structured investment solutions. Compliance with FCA rules and best practices ensures that all offerings meet stringent regulatory standards and deliver consistent value to clients.
Contact information:
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- Darren Ashton/Lynn Bell
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- Telephone: 082 675 5866/082 808 4397
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- Website: www.causeway-securities.com
Delivering tailored solutions
Andrej Ogorevc, the CIO of Causeway Securities, shares what makes his entity a strong competitor within the structured products environment.
How certain are you that your business can meet its obligations to investors in your structured products?
Causeway Securities is confident in its ability to meet investor obligations, supported by a robust operational model and strategic partnerships. As an independent brokerage, we provide global access to structured growth, income and capital-protected notes, as well as unitised Dynamic outcome funds. Products that we sell are issued by top global investment banks with strong credit ratings and it is these banks who guarantee the payout of the structured product.
We conduct rigorous, ongoing due diligence to ensure we offer products from best-in-class issuers. Our partnerships span over 20 leading global banks, including Barclays, BNP Paribas, Goldman Sachs, UBS and Morgan Stanley, all holding strong investment-grade credit ratings. This ensures broad counterparty diversification, financial stability and allows us to find best prices in the market.
In order to prevent the risk of misuse of your products, what type of support do you provide to financial planners?
Causeway Securities provides dedicated support to Financial Advisors, Portfolio Managers and Discretionary Fund Managers (DFMs) across South Africa and into Africa. Backed by an experienced sales team, we equip investment professionals with the tools and expertise to confidently integrate structured products and funds into client portfolios.
To what extent are your structured products a response to new market conditions vs an offering that you believe is good for investors at all times?
Causeway’s Dynamic Growth Fund was launched as a direct response to evolving market conditions and advisor demand for more predictable, risk-managed equity exposure. The Fund invests in a diversified portfolio of dynamic outcome investments, namely autocalls, designed to perform in flat or moderately declining markets. We actively gather feedback from advisors and issuers to shape product development, always ensuring best-in-class solutioning for their clients.
The Causeway Dynamic Growth Fund is designed to offer transparency and predictability, targeting returns of USD 8-9% pa in all but severe market downturns. In the event of performance deviation, the Fund’s strategy allows for reinvestment into new structured products with enhanced protection and return profiles, helping to mitigate long-term impact.
What is the frequency and detail of reporting to financial planners and their clients?
The Causeway Portal is a central hub for moni-toring structured investment performance and receiving real-time alerts on events like coupon payments and maturity dates. Advisors can access product details, generate performance reports and prepare for client meetings with latest insights.
How do you believe structured products fit best into the wide range of investment opportunities that are available?
Structured products are highly customisable and can be tailored to suit a wide range of investor risk profiles and return objectives, using various underlying indices, counterparties and pay-off profiles. Our broad offering enables advisors to deliver tailored solutions aligned with individual financial goals.
The Causeway Dynamic Growth Fund provides access to the benefits of structured products, such as dynamic returns and downside protection. It can act as either an alternative or a complement to traditional equity allocations, providing smoother return profiles and improved risk-adjusted outcomes.
Advisors can use the Fund to enhance portfolio returns with autocalls and capital-protected instruments that perform even in flat or moderately declining markets; reduce volatility through exposure to instruments with dynamic barriers and protection features; and generate predictable income via distributing share classes, ideal for investors seeking regular returns.
While individual structured products like autocalls offer similar benefits, the Causeway Dynamic Growth Fund consolidates them into a single, daily priced, actively managed solution with simplified access making it easier to implement across investor portfolios.
About Andrej Ogorevc Andrej Ogorevc is the Chief Investment Officer at Causeway Securities. Andrej has extensive experience in the international financial services industry and asset management specialising in structured products. He has held several positions leading investment propositions for large multinational financial services companies. Andrej studied Economics at the University of Ljubljana and holds an MBA in Financial Management and an MSc in Investment Management from Cass Business School. |
