Coronation Integrated Annual Report 2025
Our purpose is to deliver superior long-term investment outperformance for the benefit of all stakeholders
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About us

Our Purpose

To deliver superior long-term investment outperformance for the benefit of all stakeholders.

Clients first

The sustainability of our business is tied to responsibly adding alpha to their portfolios and offering world-class products and client service.

Long-term thinking

Adding investment alpha and growing a sustainable business are multi-decade endeavours. This is rooted in adhering to a long-term strategy and not reacting to short-term discomfort.

Owner managed and investment led

This promotes long-term thinking, which aligns employees with the interests of our stakeholders. This is entrenched in our Remuneration Policy, with 42% of employees on a long-term incentive scheme.

Team based

Our people are central to our success. Strong people lead equally strong and cohesive teams. With diversity, equality and inclusion as a core strength, collaboration delivers the best outcomes.

Performance-driven meritocracy

We are a meritocracy that rewards employees for their individual contributions. Our culture of excellence is designed to attract and retain highly skilled professionals.

Integrity matters

We have a fiduciary duty to act with uncompromising integrity. Employees are held accountable for maintaining the highest ethical standards.

Our business model

We are an investment-led and owner-managed, global asset manager. Our purpose is to deliver superior long-term investment outperformance for the benefit of all stakeholders.

and our strategy enables
our core business activities

To deliver investment excellence for the benefit of all stakeholders

directed by our
material matters 

to generate long-term
value outcomes

The quality of
our capital inputs

for all our
stakeholders

Intellectual Capital
Human Capital
Financial Capital
Natural Capital
Social & Relationship Capital
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INPUTS

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Factors that have the potential to significantly impact our ability to create value for stakeholders
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Key risks & material matters

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Snapshot of outcomes of our business activities for the 2025 financial year
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OUTCOMES

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Value creation or erosion for key stakeholders
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STAKEHOLDER VALUE

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Delivering superior long-term investment outperformance to clients
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Long-term investment outperformance

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DRAG
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How Shareholder value was created in 2025

We have a compelling track record of delivering material investment outperformance and client service excellence for more than three decades.
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Enhancing excellent client service
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Strengthening our operational resilience
Delivering superior long-term investment outperformance
Developing our global footprint
Championing active corporate citizenship
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DRAG
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Delivering superior long-term investment outperformance

95%

Of our retail and institutional portfolios have outperformed their benchmarks since in inception1

82%

Of since inception value added by our Houseview Equity strategy compared to the benchmark

Coronation Houseview Equity since inception

1Retail and institutional portfolios: since inception, on an asset-weighted basis for portfolios with a (less than/equal to sign) 10-year track record.
2FTSE/JSE Capped Shareholder Weighted Index from 1 May 2017. Previously 50% Resources (inception to 31 January 2002) and FTSE/JSE Shareholder Weighted Index. (1 February 2002 to 30 April 2017)

DIVERSITY AND TRANSFORMATION

We firmly believe that transformation, diversity and inclusion are central to a healthy business, economy and society. For this reason they have been embedded in our culture since we opened our doors in 1993. We have been active in transforming the financial services sector and South African society for more than three decades, empowering our employees, supporting businesses and benefiting the communities in which we operate.
Women represent:

50%

of our employees

57%

of our new hires

Black individuals represent:

63%

of our employees

57%

of our new starters

R275bn

Representing 36% of our total AUM is managed by black investment professionals

Level 1

B-BBEE contributor as measured by the financial sector code

267

black IFA practices supported through the ASISA IFA Development Programme

72

black analysts received financial support to train via the Vunani Securities Training Academy

South African employees, ownership & AUM as at 30 September 2025.
Enterprise development figures are since project inception.

Governance

The Board has full and effective control over Coronation Fund Managers Ltd and its subsidiaries, which is exercised through the management team and subsidiary boards.

Standing (left to right): Lulama Boyce, Alethea (Lea) Conrad, Hugo Nelson, Neil Brown, Anton Pillay, Phakamani Hadebe, Madichaba Nhlumayo

Seated (left to right): Saks Ntombela (incoming Chairperson), Alexandra Watson (outgoing Chairperson)

Not pictured: Cindy Robertson

Learn more about our Governance

Stewardship

We are committed to being active stewards of the capital we manage on behalf of our clients and further strengthening stewardship in our business operations.
Our four pillar approach

INTEGRATION

We incorporate ESG-related risks and opportunities into investment decisions and account for their potential impact on the long-term value of each of the securities in which we invest.

COLLABORATION

We collaborate with like-minded organisations where we believe that a combined effort will be more effective than individual engagements.

PUBLIC POLICY ADVOCACY

We partner with industry peers and regulators to advance an investment landscape that serves the long-term interests of asset owners and the societies in which we operate.

Active investment stewardship

Corporate Social Investment

We believe our best investment in the country is empowering young people from their earliest years. Through literacy, numeracy, and nutrition, we help build strong foundations. Because it takes a village to raise a successful learner, our support extends to caregivers and educators. We also offer consumer financial education (CFE) and entrepreneurial training to strengthen communities with sustainable skills.

Our holistic approach aimed at supporting children, educators, parents, and entrepreneurs

Pre-school
  • Ensuring children are school-ready
  • Supporting hearing-impaired learners
  • Providing nutrition
  • Aiding caregivers
Primary school
  • Strengthening literacy and numeracy
  • Empowering principals and teachers
  • Building a pipeline of educators
In the community
  • Providing CFE
  • Training entrepreneurs
  • Empowering emerging farmers
  • Supporting sustainable feeding programmes
Learn more about our cradle to entrepreneur approach
During 2025, our programmes impacted:

As at 30 September 2025.