How we invest offshore - June 2021

Back to contents
Coronation Insights

Coronation Insights

We manage all our international funds according to the same proven longterm, valuation-driven investment philosophy that we have applied locally for almost 28 years. While most managers face enormous pressure to perform well over 12-month periods – typically resulting in poor long-term decisions – our ability to focus on a time horizon of five years and longer allows us to invest in assets that we believe are trading at substantial discounts to our assessment of their underlying long-term value.

Based in Cape Town, our integrated global investment team is one of the only teams in the world with three former chief investment officers (CIOs) still actively managing money. Led by CIO Karl Leinberger, the team comprises 70 professionals, with an average of more than 14 years in the industry and just over 10 years with Coronation. Our developed markets equity team of eight analysts is headed by Neil Padoa and supported by former Coronation CIO Louis Stassen. The developed markets team is also closely integrated with our global emerging markets team of 10, led since inception by Gavin Joubert. Their efforts are also supported by our global multi-manager team, led by another former Coronation CIO Tony Gibson. This team continues to be responsible for the core global equity building block used in our domestic multi-asset funds, namely Coronation Balanced Plus. Further depth is provided by the five analysts in our Global Frontier Markets team.

Investment-experience (2).pngcoronation-investment-experience-V2.png

We believe in a team-based approach to investing rather than relying on specialist silos where investment decisions are made in a vacuum. Our entire investment team – covering South African and global markets – constantly interact and exchange investment information. Our analysts and fund managers each cover a wide range of investments, across different industries and countries. They can price profit and risk across asset classes, sectors and geographies. We believe this broader perspective builds better investors, drives better debate and results in better investment decisions. Our team-based and generalist approach has contributed to the stability of our investment process.