Top 20

South African - Equity - General

Concentrated exposure to shares listed in South Africa

GENERAL INVESTOR REPORT

FUND DESCRIPTION:

A focused portfolio of our top stock picks on the JSE.

INVESTOR PROFILE:

The fund is suitable for: Investors who are in pursuit of maximum long-term returns and are able to withstand short-term market turbulence. Investors who are in their wealth build-up phase and require little income in the short-term. Investors looking for an alternative to a stockbroker-managed direct share portfolio. The fund is not appropriate for investors who are concerned by short-term capital losses or who want to generate consistent income, nor is it suitable for those who seek an equity investment that tracks the returns of the market.

BENCHMARK:

FTSE/JSE Capped Shareholders Weighted Index (C-SWIX)

FUND MANAGER:

Neville Chester and Nicholas Stein

LAUNCH DATE: 02 October 2000
FUND SIZE: R 24.95 billion
NAV (18 August 2022): 18,446.03
NUMBER OF A - UNITS: 17565769.68
TIME HORIZON: 5 years +
REGULATION 28: No
RISK RATING:

The fund added 3,4%p.a. to the return of the market. The fund is a top quartile performer since launch.

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PERFORMANCE FOR VARIOUS PERIODS AFTER FEES
FUND BENCHMARK OUTPERFORMANCE
Since Launch (unannualised) 2,747.0% 1,391.9% 1,355.1%
Since Launch (annualised) 16.6% 13.2% 3.4%
Latest 20 years (annualised) 15.7% 13.5% 2.2%
Latest 15 years (annualised) 11.0% 9.1% 1.8%
Latest 10 years (annualised) 10.6% 10.7% (0.1)%
Latest 5 years (annualised) 8.0% 8.0% (0.0)%
Latest 3 years (annualised) 13.5% 10.8% 2.7%
Latest 2 years (annualised) 17.9% 16.7% 1.3%
Latest 1 year 7.0% 7.2% (0.2)%
Year to date 0.3% (1.9)% 2.3%
MONTHLY PERFORMANCE RETURNS AFTER FEES
2022 2021 2020 2019 2018 2017 2016 2015 2014
JAN 1.8% 4.5% (0.4)% 3.2% (0.3)% 4.2% (1.4)% 2.7% (2.4)%
FEB 3.4% 5.8% (8.8)% 3.5% (2.1)% (1.5)% 4.8% 4.2% 4.6%
MAR (0.1)% 3.5% (12.4)% 3.1% (3.4)% 3.0% 10.3% (2.2)% 3.0%
APR (2.3)% 0.3% 12.4% 2.6% 4.8% 3.6% 4.3% 5.5% 1.3%
MAY 1.4% 0.4% 1.8% (5.1)% (3.4)% (1.1)% (1.0)% (3.4)% 1.6%
JUN (6.6)% (2.3)% 4.8% 2.3% 0.9% (3.9)% (2.3)% (1.8)% 1.3%
JUL 3.2% 3.5% 2.4% (2.0)% 0.2% 6.8% 4.2% (0.6)% 2.1%
AUG - 1.1% (0.3)% (2.6)% 0.6% 3.2% 0.3% (3.7)% (2.2)%
SEP - (1.5)% (0.7)% 2.8% (4.8)% (1.1)% 1.8% (4.2)% (3.7)%
OCT - 4.7% (5.3)% 3.9% (2.8)% 6.3% (4.0)% 6.1% 0.6%
NOV - (1.8)% 13.5% 0.8% (5.7)% 0.1% (0.3)% (5.6)% 2.3%
DEC - 4.2% 5.0% 2.8% 3.8% (2.1)% 1.0% (6.2)% (1.6)%
YTD 0.3% 24.1% 9.0% 15.8% (12.2)% 18.1% 18.3% (9.8)% 6.8%
INCOME DISTRIBUTIONS
DECLARATION DATE PAYMENT DATE AMOUNT DIVIDEND INTEREST
31 Mar 2022 01 Apr 2022 99.77 99.46 0.31
30 Sep 2021 01 Oct 2021 383.71 383.15 0.57
31 Mar 2021 01 Apr 2021 14.42 14.41 0.01
30 Sep 2020 01 Oct 2020 192.26 191.91 0.35
RISK STATISTICS SINCE LAUNCH
FUND BENCHMARK
Annualised Deviation 16.2% 17.2%
Maximum Drawdown (31.7)% (43.4)%
Maximum Gain 46.6% 37.4%
Positive Months 61.1% 60.3%
Sharpe Ratio 0.5% 0.3%
BEST AND WORST PERFORMANCE PERIODS
Best Performing 12 months 68.9% May 2005 - Apr 2006
Worst Performing 12 months (31.7)% May 2002 - Apr 2003
TOP 10 HOLDINGS
AS AT 30 June 2022 % OF FUND
Prosus 11.3%
Standard Bank Group Ltd 8.4%
Nedbank Group Ltd 7.9%
Impala Platinum Holdings Ltd 6.8%
Naspers Ltd 6.5%
Glencore Xstrata Plc 6.3%
Anglo American Plc 5.8%
MTN Group Ltd 5.4%
Sasol Ltd 5.2%
Momentum Metropolitan Holdings 4.9%
FEES (EXCL.VAT)
INITIAL FEE Coronation: 0.00%
ANNUAL MANAGEMENT FEE

Minimum - standard: 1.00%
Minimum - discounted: 0.50%
Maximum: 3.00%
Sharing Rate: 20.00%

An annual fee of a minimum of 0.5% and a maximum of 3%, depending on the fund’s performance, is payable. If the fund’s return (after fees and costs) is equal to that of its benchmark, a fee of 1% will be charged. We share in 20% of performance above the benchmark, up to a maximum total annual fee of 3.00%, measured over a rolling 24 month period. When the fund return is below the benchmark over a rolling 60-month period the fee is discounted to 0.50%. All fees exclude VAT. 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) 0.99% per annum, which includes a performance fee of -0.14%
TRANSACTION COSTS 0.27
ADVICE COSTS (EXCLUDING VAT)

Advice fees are usually collected through the redemption of units. You may cancel the instruction to facilitate the payment of advice fees at any time. Advisers will only share in Coronation fees subject to prior approval by and/or disclosure to the investor. A portion of Coronation’s annual management fee may be paid to administration platforms such as Linked Investment Service Providers (LISPs) as a payment for administration and distribution services.