Balanced Defensive

South African - Multi Asset - Low Equity

A multi-asset fund for cautious investors requiring stable returns

GENERAL INVESTOR REPORT

FUND DESCRIPTION:

A lower risk alternative to Capital Plus for investors requiring a growing regular income.

INVESTOR PROFILE:

The fund is suitable for investors: Seeking a defensive investment solution enabling an annual income drawdown. Requiring a reasonable rate of return over investment horizons of 3 years and longer. With a low tolerance for the volatility of returns associated with equity investing. This fund is not suitable for investors seeking to aggressively accumulate capital over an extended period of time.

BENCHMARK:

CPI + 3% p.a

FUND MANAGER:

Charles de Kock, Pallavi Ambekar and Neill Young 

LAUNCH DATE: 01 February 2007
FUND SIZE: R 30.51 billion
NAV (21 February 2024): 224.53
NUMBER OF A - UNITS: 1877215827.51
TIME HORIZON: 3 years +
RISK RATING:

Outperformed inflation by 2,9% p.a. (after fees) since launch, while producing positive returns over 12 months more than 98% of the time.

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PERFORMANCE FOR VARIOUS PERIODS AFTER FEES
FUND BENCHMARK PEER GROUP AVERAGE
Since Launch (unannualised) 335.4% 311.6% 250.9%
Since Launch (annualised) 9.1% 8.7% 7.7%
Latest 15 years (annualised) 9.4% 8.2% 8.1%
Latest 10 years (annualised) 7.5% 8.1% 7.0%
Latest 5 years (annualised) 8.4% 8.2% 7.6%
Latest 3 years (annualised) 8.4% 9.1% 8.1%
Latest 1 year 9.0% 8.6% 7.3%
Year to date 0.1% 0.5% 0.3%
MONTHLY PERFORMANCE RETURNS AFTER FEES
2024 2023 2022 2021 2020 2019 2018
JAN 0.1% 5.5% (1.3)% 2.4% 1.0% 1.6% (0.2)%
FEB - 0.4% 0.4% 2.2% (2.7)% 2.1% (0.6)%
MAR - (0.9)% (0.5)% (0.0)% (8.0)% 1.3% (0.2)%
APR - 1.2% (0.5)% 1.1% 6.8% 2.0% 2.6%
MAY - 0.4% 0.2% (0.1)% 1.8% (1.9)% (0.4)%
JUN - 1.8% (3.2)% 0.6% 1.5% 1.1% 2.0%
JUL - 0.6% 2.9% 1.3% 1.3% 0.2% 0.0%
AUG - 1.3% 0.7% 0.8% 1.7% 0.5% 2.5%
SEP - (2.5)% (2.2)% (0.8)% (1.2)% 1.0% (1.4)%
OCT - (1.4)% 2.6% 1.7% (1.3)% 1.1% (1.1)%
NOV - 5.7% 2.1% 0.4% 4.5% (0.4)% (1.5)%
DEC - 2.1% (0.3)% 2.5% 1.5% 0.6% 0.3%
YTD 0.1% 14.9% 0.8% 12.7% 6.4% 9.5% 2.0%
INCOME DISTRIBUTIONS
DECLARATION DATE PAYMENT DATE AMOUNT DIVIDEND INTEREST
29 Dec 2023 02 Jan 2024 2.14 0.17 1.97
29 Sep 2023 02 Oct 2023 2.58 0.41 2.17
30 Jun 2023 03 Jul 2023 2.43 0.34 2.09
31 Mar 2023 03 Apr 2023 2.22 0.19 2.03
RISK STATISTICS SINCE LAUNCH
FUND BENCHMARK
Annualised Deviation 5.4% 4.5%
Downside Deviation 4.3% 3.5%
Maximum Drawdown (10.4)% (8.1)%
Maximum Gain 21.2% 20.9%
Positive Months 73.9% 74.4%
Sharpe Ratio 0.4% 0.2%
BEST AND WORST PERFORMANCE PERIODS
Best Performing 12 months 21.2% Jun 2012 - May 2013
Worst Performing 12 months (5.8)% Apr 2019 - Mar 2020
TOP 10 HOLDINGS
AS AT 31 December 2023 % OF FUND
Prosus 1.8%
FirstRand Limited 1.3%
Cie Financiere Richemont Ag 1.1%
Standard Bank Group Ltd 1.0%
British American Tobacco Plc 0.7%
MTN Group Ltd 0.6%
Mondi Limited 0.5%
Dis-Chem Pharmacies Ltd 0.5%
Nedbank Group Ltd 0.5%
PSG Group 0.4%
FEES (EXCL.VAT)
INITIAL FEE Coronation: 0.00%
ANNUAL MANAGEMENT FEE

1.15% 

An annual fee of 1.15%(excl VAT) is payable.

The annual management fee is accrued daily and paid monthly. Fund expenses incurred in the fund include fees payable to unconnected international fund managers on a portion of assets situated offshore as well as trading, custody and audit charges. All performance information is disclosed after deducting all fees and other fund costs.

We do not charge fees to access or withdraw from the fund.

TOTAL EXPENSE RATIO (TER) 1.50% per annum
TRANSACTION COSTS 0.08
ADVICE COSTS (EXCLUDING VAT)

Coronation does not provide financial advice and therefore does not charge advice fees. However, investments are often placed on your behalf by a financial adviser, in which case fees are negotiated directly between you and your adviser, within the following ranges: Initial 0.00% - 3.00%, Ongoing 0.00% - 1.00% when the initial fee is less than 1.50%, 0.00% - 0.50% when the initial fee is more than 1.50%. Sharing of annual management fees: A portion of Coronation’s annual management fee may be paid to administration platforms as a subsidy for administrative and advice costs incurred when investing through these channels. Where commission and incentives are paid, these are included in the overall costs.