South African - Interest Bearing - Variable Term
To provide investors with diversified exposure to the South African Bond Market
GENERAL INVESTOR REPORT
Actively managed exposure to the South-African bond market.
The fund is suitable for investors who are: Risk averse and seek exposure to less risky assets. Seeking to use the fund as part of a diversified portfolio. Requiring an investment vehicle focused on capital growth and income generation through active selection in the domestic bond market.
BEASSA ALBI Index
Nishan Maharaj, Steve Janson and Seamus Vasey
|LAUNCH DATE:||01 August 1997|
|FUND SIZE:||R 3.95 billion|
|NAV (29 November 2023):||1,339.66|
|NUMBER OF R - UNITS:||22367674.28|
|TIME HORIZON:||3 - 5 years|
The fund seeks to maximise returns from a diverse range of primarily South African bonds. The fund has been a top quartile performer since launch.
|PERFORMANCE FOR VARIOUS PERIODS AFTER FEES|
|Since Launch (unannualised)||1,253.8%||1,243.1%||10.6%|
|Since Launch (annualised)||10.4%||10.4%||0.0%|
|Latest 20 years (annualised)||8.3%||8.2%||0.1%|
|Latest 15 years (annualised)||8.3%||8.2%||0.1%|
|Latest 10 years (annualised)||7.3%||7.3%||(0.0)%|
|Latest 5 years (annualised)||6.9%||7.9%||(1.0)%|
|Latest 3 years (annualised)||7.2%||7.3%||(0.0)%|
|Latest 1 year||7.4%||7.9%||(0.5)%|
|Year to date||2.4%||3.2%||(0.8)%|
|MONTHLY PERFORMANCE RETURNS AFTER FEES|
|DECLARATION DATE||PAYMENT DATE||AMOUNT||DIVIDEND||INTEREST|
|29 Sep 2023||02 Oct 2023||65.61||0.00||65.61|
|31 Mar 2023||03 Apr 2023||65.38||0.10||65.28|
|30 Sep 2022||03 Oct 2022||58.71||0.00||58.71|
|31 Mar 2022||01 Apr 2022||61.23||0.00||61.23|
|RISK STATISTICS SINCE LAUNCH|
|BEST AND WORST PERFORMANCE PERIODS|
|Best Performing 12 months||34.9%||Sep 1998 - Aug 1999|
|Worst Performing 12 months||(7)%||Sep 1997 - Aug 1998|
|INITIAL FEE||Coronation: 0.00%|
|ANNUAL MANAGEMENT FEE||
An annual fee of 0.75% (excl. VAT) is payable. Other costs that are incurred in the fund include trading, custody and audit charges. All performance information is disclosed after deducting all fees and other portfolio costs. We do not charge fees to access or withdraw from the fund
|TOTAL EXPENSE RATIO (TER)||0.85% per annum|
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.
All information and opinions provided are of a general nature and are not intended to address the circumstances of any particular individual or entity. As a result thereof, there may be limitations as to the appropriateness of any information given. It is therefore recommended that the reader first obtain the appropriate legal, tax, investment or other professional advice and formulate an appropriate investment strategy that would suit the risk profile of the reader prior to acting upon information. Neither Coronation Fund Managers Limited, Coronation Management Company (RF) (Pty) Ltd nor any other subsidiary of Coronation Fund Managers Limited (collectively “Coronation”) is acting, purporting to act and nor is it authorised to act in any way as an adviser. Coronation endeavours to provide accurate and timely information but we make no representation or warranty, express or implied, with respect to the correctness, accuracy or completeness of the information and opinions. Coronation does not undertake to update, modify or amend the information on a frequent basis or to advise any person if such information subsequently becomes inaccurate. Any representation or opinion is provided for information purposes only. Unit trusts should be considered a medium- to long-term investment. The value of units may go down as well as up, and is therefore not guaranteed. Past performance is not necessarily an indication of future performance. Unit trusts are allowed to engage in scrip lending and borrowing. Performance is calculated by Coronation for a lump sum investment with income distributions reinvested. All underlying price and distribution data is sourced from Morningstar. Performance figures are quoted after the deduction of all costs (including manager fees and trading costs) incurred within the fund. Note that individual investor performance may differ as a result of the actual investment date, the date of reinvestment of distributions and dividend withholding tax, where applicable. Where foreign securities are included in a fund it may be exposed to macroeconomic, settlement, political, tax, reporting or illiquidity risk factors that may be different to similar investments in the South African markets. Fluctuations or movements in exchange rates may cause the value of underlying investments to go up or down. The Coronation Money Market fund is not a bank deposit account. The fund has a constant price, and the total return is made up of interest received and any gain or loss made on any particular instrument, in most cases the return will merely have the effect of increasing or decreasing the daily yield, but in the case of abnormal losses it can have the effect of reducing the capital value of the portfolio. Excessive withdrawals could place the fund under liquidity pressures, in such circumstances a process of ring-fencing of redemption instructions and managed pay-outs over time may be followed. A fund of funds invests in collective investment schemes that levy their own fees and charges, which could result in a higher fee structure for this fund. A feeder fund invests in a single fund of a collective investment scheme, which levies its own charges and could result in a higher fee structure for the feeder fund. Coronation Management Company (RF) (Pty) Ltd is a Collective Investment Schemes Manager approved by the Financial Sector Conduct Authority in terms of the Collective Investment Schemes Control Act. Unit trusts are traded at ruling prices set on every day trading. Forward pricing is used. For Domestic Unit Trust Funds and Tax Free Investments, including rand-denominated International Unit Trust Funds, fund valuations take place at approximately 15h00 each business day, except at month end when the valuation is performed at approximately 17h00 (JSE market close). For these Funds, instructions must reach the Management Company before 14h00 (12h00 for the Money Market Fund) to ensure same day value. For International Unit Trust Funds that are denominated in a foreign currency, fund valuations take place at approximately 17h00 each business day (Irish Time) and instructions must reach the Management Company before 12h00 (SA Time) to ensure the value of the next business day. For Retirement Products, fund valuations take place at approximately 15h00 each business day, except at month end when valuation is performed at approximately 17h00 (JSE market close). For these Products, instructions must reach the Management Company before 14h00 to ensure the value of the next business day. Additional information such as fund prices, brochures, application forms and a schedule of fund fees and charges is available on our website, www.coronation.com. Coronation Fund Managers Limited is a Full member of the Association for Savings & Investment SA (ASISA). Coronation Asset Management (Pty) Ltd (FSP 548), Coronation Investment Management International (Pty) Ltd (FSP 45646) and Coronation Alternative Investment Managers (Pty) Ltd (FSP 49893) are authorised financial services providers. Coronation Life Assurance Company Limited is a licenced insurer under the Insurance Act, No.18 of 2017.