Global (excl USA) - Institutional
Emerging Markets Ex-China Strategy
INSTITUTIONAL
INVESTMENT OBJECTIVE:
The Coronation Emerging Markets Ex-China Strategy provides access to what we consider to be the best investment opportunities in emerging markets outside of China. It aims to deliver long-term capital growth through a focused equity portfolio of securities of companies based in emerging markets outside of China or those deriving a significant portion of their business from emerging economies outside of China. The strategy aims to outperform the MSCI Emerging Markets ex-China Index over periods of 5 years and longer.
Coronation is a long-term, valuation-driven investment house, focused on bottom-up stock picking. Our aim is to identify mispriced assets trading at discounts to their long-term business value (fair value) through extensive proprietary research. In calculating fair values, through our fundamental research, we focus on through-the-cycle normalised earnings and/or free cash flows using a long-term time horizon. The Portfolio is constructed on a cleanslate basis based on the relative risk-adjusted upside to fair value of each underlying security. The Portfolio is constructed with no reference to a benchmark. We do not equate risk with tracking error, or divergence from a benchmark, but rather with a permanent loss of capital.
*MSCI Emerging Markets ex-China Total Return (Net) Index
The value of investments may go down as well as up, and is therefore not guaranteed. Past performance is not necessarily an indication of future performance.
| STRATEGY RETURNS GROSS OF FEES | |||
|---|---|---|---|
| STRATEGY | BENCHMARK* | OUTPERFORMANCE | |
| Since Launch (unannualised) | 29.6% | 16.7% | 12.9% |
| Latest 1 year | 25.4% | 12.2% | 13.2% |
| Latest 6 months | 31.9% | 24.3% | 7.6% |
| Latest 3 months | 8.0% | 6.6% | 1.4% |
| Month | 5.8% | 6.0% | (0.2)% |
*MSCI Emerging Markets ex-China Total Return (Net) Index
The value of investments may go down as well as up, and is therefore not guaranteed. Past performance is not necessarily an indication of future performance.