Global Capital Plus Strategy

INSTITUTIONAL

INVESTMENT OBJECTIVE:

The Coronation Global Capital Plus Strategy provides investors with access to the best investment ideas from around the world, with the aim of maximising long-term capital growth while minimising capital risk. It blends individual asset selection to reflect Coronation’s view across asset classes, regions and currencies. Risk diversification is through direct and indirect exposure to equity securities, deposits, listed private equity funds, fixed income and debt-related instruments and commodities. The Strategy is broadly diversified across countries, including the developed economies of the US, Europe and Japan as well as emerging markets. Maximum equity exposure is limited to 40%. The Strategy's objective is to outperform the benchmark over a 3 – 5 year period.


Coronation is a long-term, valuation-driven investment house. 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.

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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 0.6% 3.9% 4.6% 3.1% 5.7%
Benchmark* 0.2% 2.6% 1.9% 0.5% 0.3%
Difference 0.4% 1.3% 2.7% 3.6% 6.0%
CALENDAR YEAR PERFORMANCE
YEAR TO DATE 2018 2017 2016 2015
Strategy 9.6% (4.7)% 9.1% 7.1% (1.5)%
Benchmark* 1.5% 2.4% 1.3% 0.8% (3.6)%
Difference 8.1% (7.0)% 7.8% 6.3% 2.1%

* ICE LIBOR USD 3 Month (US0003M 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.