Coronation International wins Botswana pension mandate
15 November 2007 - Coronation Insights
London-based multi-manager Coronation International has been awarded US$215 million from the Botswana Public Officers Pension Fund as part of a larger mandate awarded to the JSE-listed parent company Coronation Fund Managers. The inflows are to be invested in two of its global fund-of-fund products: the Coronation Global Equity Fund of Funds and the Coronation Multi-Strategy Fund.
The Coronation Global Equity Fund of Funds has outperformed the MSCI World index by 3% per annum over the past three years to end October (USD Class B, net of fees) and is well positioned in its peer group. Investing in long-only equity funds covering the US, Europe and Far Eastern markets, the fund has enjoyed enormous success from institutional investors outside of the UK since inception in 2000.
The Coronation Multi-Strategy Fund has returned 8.06% over the past three years to end October (USD, net of fees, includes estimated October return) with low volatility and low correlation to traditional markets. The fund invests across all hedge fund strategies on a global basis. It is ideal for investors seeking a balanced return from a diversified spread of hedge fund strategies at a medium level of risk via selected high-quality, well respected and successful hedge fund managers.
Coronation International, established in 1996, manages in excess of US$1.7 billion in both alternative and long-only funds of funds for international institutional and retail investors.
Charles Barnick, CEO of Coronation International in London, commented, “We are pleased that the Botswana Public Officers Pension Fund board of trustees has had at this time of increased market volatility the foresight to allocate to both long-only and alternative funds of funds. We have an excellent team in place and believe their confidence in us will be well rewarded.”
Media enquiries should be directed to:
Charles Barnick, Chris Marquard, Sarah Scott or Gordon Puckey
Coronation International Limited Phoenix Financial PR
Panton House, 25 Haymarket Tel: + 44 (0) 207 947 2857 / 2856
London SW1Y 4EN
Tel: + 44 (0) 207 389 8840
Notes to Editors:
Coronation Fund Managers / Coronation International
Founded in 1993, Coronation Fund Managers is an independent, owner-managed institutional fund management business and the largest listed independent fund manager in South Africa. Total funds under management are in excess of USD 20 billion, managed almost entirely on behalf of pension funds and large institutional investors. The London-based fund of funds business has grown to over USD 1.7 billion AUM, managing both long-only and alternative funds of funds. Coronation International Ltd. is based in London and is authorised and regulated by the Financial Services Authority.
About the Coronation Global Equity Fund of Funds
Investment objective: Returns superior to the MSCI World Index (Dividends Reinvested) via focused allocations to top-tier long-only equity managers worldwide.
Underlying investments: Concentrated portfolio of long-only equity funds with established track records and asset bases covering the US, Europe and Far Eastern markets.
Number of underlying managers: 13
Annualised Return over past 3 years, Class B: 21.83%
Annualised Standard Deviation since inception of A Class in June 2000: 12.37%
Fact sheet available on request About the Coronation Multi-Strategy Fund.
Investment objective: A balanced return from a diversified spread of hedge fund strategies at a medium level of risk via selected high-quality, well respected and successful hedge funds managers.
Underlying investments: Funds employing a wide variety of alternative and directional strategies, including long/short equity, arbitrage and event-driven strategies and all macro asset classes on a global basis.
Number of managers: 22
Fund inception (USD, EUR): August 2002
Annualised return, last three years (USD): 8.06%
Annualised standard deviation since inception: 3.18%
Fact sheet available on request