Global Equity Fund of Funds

INSTITUTIONAL

INVESTMENT OBJECTIVE:

The Coronation Global Equity Fund of Funds aims to deliver capital growth through a focused portfolio of the best equity managers globally. The Strategy invests in top-quality long-only equity funds (typically 10) and is broadly diversified across geographic regions including emerging markets. The underlying fund managers have well-established track records with a similar investment approach to ours, and have been thoroughly evaluated by Coronation’s due diligence team. The objective is to outperform the MSCI All Country World Index over a 5-year period.


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. We select managers who share a similar investment philosophy to ours. 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 (8.4)% (3.6)% 9.5% 5.6% 6.2%
Benchmark* 5.9% 1.3% 9.8% 5.7% 4.5%
Difference (2.5)% (2.3)% (0.4)% (0.1)% 1.7%
CALENDAR YEAR PERFORMANCE
YEAR TO DATE 2018 2017 2016 2015
Strategy 10.9% (11.7)% 25.1% 9.0% (3.8)%
Benchmark* 9.1% (9.4)% 24.0% 7.9% (0.9)%
Difference 1.9% (2.3)% 1.2% 1.1% (3.0)%

* MSCI Daily TR Net All Country World USD (NDUEACWF 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.