Financial

South African - Equity - Financial

Category -specific exposure to financial services equities

GENERAL INVESTOR REPORT

FUND DESCRIPTION:

A sector-specific portfolio of our top financial services stock picks.

INVESTOR PROFILE:

The fund is suitable for investors: Seeking to broaden their equity exposure by including a financial services fund. Who believe that the financial services category offers compelling value. That are not utilising the fund as a single investment but as part of a diversified portfolio.

BENCHMARK:

FTSE/JSE Financials ex Real estate Index

FUND MANAGER:

Neill Young and Godwill Chahwahwa

LAUNCH DATE: 01 July 1998
FUND SIZE: R334.93 million
NAV (24 May 2024): 5,970.11
NUMBER OF A - UNITS: 2229446.49
TIME HORIZON: 5 years +
RISK RATING:

The fund aims to maximise long-term growth investing in the financial services industry.

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PERFORMANCE FOR VARIOUS PERIODS AFTER FEES
FUND BENCHMARK OUTPERFORMANCE
Since Launch (unannualised) 1,218.2% 951.0% 267.1%
Since Launch (annualised) 10.5% 9.5% 1.0%
Latest 20 years (annualised) 12.1% 12.5% (0.4)%
Latest 15 years (annualised) 10.8% 12.0% (1.2)%
Latest 10 years (annualised) 4.2% 6.3% (2.1)%
Latest 5 years (annualised) 2.1% 4.5% (2.3)%
Latest 3 years (annualised) 11.6% 15.2% (3.6)%
Latest 1 year 8.8% 11.7% (2.9)%
Year to date (4.6)% (4.8)% 0.2%
MONTHLY PERFORMANCE RETURNS AFTER FEES
2024 2023 2022 2021 2020 2019
JAN (3.2)% 5.6% 2.7% (2.6)% (5.0)% 3.3%
FEB (1.0)% 2.5% 4.1% 3.7% (8.6)% (0.2)%
MAR (2.9)% (7.6)% 11.4% 2.5% (28.4)% (3.7)%
APR 2.5% 2.9% (5.8)% 1.5% 13.2% 6.1%
MAY - (8.4)% 1.9% 6.5% (2.8)% (3.6)%
JUN - 10.8% (13.2)% (2.7)% 3.6% 0.9%
JUL - 6.7% 3.6% (0.5)% 2.3% (7.4)%
AUG - (1.2)% (2.0)% 11.5% (3.2)% (4.5)%
SEP - (4.5)% (4.6)% 1.8% 1.0% 4.4%
OCT - (2.5)% 11.8% (2.4)% (5.8)% 3.3%
NOV - 9.2% 3.5% (3.0)% 16.1% (2.4)%
DEC - 5.0% (6.6)% 7.8% 7.2% 1.2%
YTD (4.6)% 17.3% 3.9% 25.5% (16.9)% (3.4)%
INCOME DISTRIBUTIONS
DECLARATION DATE PAYMENT DATE AMOUNT DIVIDEND INTEREST
28 Mar 2024 02 Apr 2024 83.65 82.94 0.71
29 Sep 2023 02 Oct 2023 180.39 179.14 1.24
31 Mar 2023 03 Apr 2023 82.22 81.36 0.86
30 Sep 2022 03 Oct 2022 142.43 141.71 0.73
RISK STATISTICS SINCE LAUNCH
FUND BENCHMARK
Annualised Deviation 19.8% 21.0%
Maximum Drawdown (45.4)% (45.3)%
Maximum Gain 53.6% 80.4%
Positive Months 58.7% 59.4%
Sharpe Ratio 0.1% 0.1%
BEST AND WORST PERFORMANCE PERIODS
Best Performing 12 months 63% Aug 2004 - Jul 2005
Worst Performing 12 months (39.5)% Apr 2019 - Mar 2020
TOP 10 HOLDINGS
AS AT 31 March 2024 % OF FUND
FirstRand Limited 22.9%
Standard Bank Group Ltd 17.3%
Sanlam Limited 8.9%
Capitec Bank Ltd 8.9%
Investec Limited 6.4%
Nedbank Group Ltd 5.4%
Discovery Holdings Ltd 5.4%
ABSA Group Limited 4.8%
OUTsurance Group Ltd 4.5%
PSG Group 2.5%
FEES (EXCL.VAT)
INITIAL FEE Coronation: 0.00%
ANNUAL MANAGEMENT FEE

1.25%

An annual fee of 1.25% (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) 1.46% per annum
TRANSACTION COSTS 0.17
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.