Domestic Houseview Strategy

INSTITUTIONAL

INVESTMENT OBJECTIVE:

The Coronation Domestic Houseview Strategy is a clean slate fully discretionary portfolio, which represents our best investment view for a domestic balanced portfolio in all major domestic asset classes – equities, property, bonds and cash. The Strategy's objective is to deliver the best risk-adjusted returns available across all the listed asset classes. In achieving this it aims to outperform the benchmark over meaningful periods (defined as at least 5 years).


Coronation is a long-term, valuation-driven investment house. Our aim is to identify mispriced assets trading at discounts to their long-term underlying value (fair value) through extensive proprietary research. The Portfolio is constructed on a clean-slate basis based on the relative risk-adjusted upside to fair value of each underlying asset. 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 the probability of a permanent loss of capital.

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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.

CUMULATIVE PERFORMANCE
1 MONTH 1 YEAR 3 YEARS 5 YEARS SINCE INCEPTION
Strategy (4.4)% (0.5)% 8.1% 4.7% 14.7%
Benchmark* 2.9% 2.0% 8.3% 5.9% 12.5%
Difference (1.5)% (2.5)% (0.2)% (1.2)% 2.2%
CALENDAR YEAR PERFORMANCE
YEAR TO DATE 2018 2017 2016 2015
Strategy 5.4% (8.8)% 14.8% 7.0% 2.8%
Benchmark* 5.4% (4.4)% 13.6% 8.3% 1.9%
Difference (0.1)% (4.3)% 1.2% (1.3)% 1.0%

* Median of Peer Group

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.