Balanced Defensive

South African - Multi Asset - Low Equity

A multi-asset fund for cautious investors requiring stable returns

GENERAL INVESTOR REPORT

FUND DESCRIPTION:

A lower risk alternative to Capital Plus for investors requiring a growing regular income.

INVESTOR PROFILE:

The fund is suitable for investors: Seeking a defensive investment solution enabling an annual income drawdown. Requiring a reasonable rate of return over investment horizons of 3 years and longer. With a low tolerance for the volatility of returns associated with equity investing. This fund is not suitable for investors seeking to aggressively accumulate capital over an extended period of time.

BENCHMARK:

CPI + 3% p.a

FUND MANAGER:

Charles de Kock and Pallavi Ambekar

LAUNCH DATE: 01 February 2007
FUND SIZE: R 33.92 billion
NAV (21 May 2019): 187.14
NUMBER OF A - UNITS: 3732076146.57
TIME HORIZON: 2 years +
REGULATION 28: Yes
RISK RATING:

Outperformed inflation by 3,5% p.a. (after fees) since launch, while producing positive returns over all 12 month periods. 

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PERFORMANCE FOR VARIOUS PERIODS AFTER FEES
FUND BENCHMARK PEER GROUP AVERAGE
Since Launch (unannualised) 206.8% 187.5% 150.4%
Since Launch (annualised) 9.7% 9.1% 7.8%
Latest 10 years (annualised) 10.4% 8.2% 8.7%
Latest 5 years (annualised) 7.1% 8.1% 6.5%
Latest 3 years (annualised) 6.3% 7.9% 5.6%
Latest 1 year 7.6% 7.8% 6.1%
Year to date 7.2% 3.5% 5.7%
MONTHLY PERFORMANCE RETURNS AFTER FEES
2019 2018 2017 2016 2015 2014 2013 2012
JAN 1.6% (0.2)% 1.1% (1.2)% 1.6% (0.8)% 2.9% 1.7%
FEB 2.1% (0.6)% 0.1% 0.3% 1.3% 1.4% 0.3% 0.5%
MAR 1.3% (0.2)% 1.4% 2.3% 0.1% 0.9% 1.7% 1.6%
APR 2.0% 2.6% 1.5% 0.5% 1.7% 0.8% 0.8% 1.4%
MAY - (0.4)% 0.1% 2.8% (0.6)% 1.6% 3.5% (0.1)%
JUN - 2.0% (0.9)% (1.9)% (0.3)% 1.1% (2.6)% 0.7%
JUL - 0.0% 2.3% 0.8% 0.9% 0.7% 1.8% 2.4%
AUG - 2.5% 0.4% 1.9% (0.4)% 0.6% 0.1% 1.8%
SEP - (1.4)% 1.3% (1.2)% (0.1)% (0.1)% 2.7% 0.9%
OCT - (1.1)% 2.4% (1.3)% 3.0% 0.7% 1.3% 2.2%
NOV - (1.5)% (0.8)% 0.7% (0.1)% 1.1% 0.4% 1.5%
DEC - 0.3% (1.1)% 0.3% 0.8% 0.4% 1.9% 0.7%
YTD 7.2% 2.0% 7.8% 3.9% 8.1% 8.8% 15.7% 16.4%
INCOME DISTRIBUTIONS
DECLARATION DATE PAYMENT DATE AMOUNT DIVIDEND INTEREST
29 Mar 2019 01 Apr 2019 1.91 0.25 1.66
31 Dec 2018 02 Jan 2019 2.16 0.24 1.92
28 Sep 2018 01 Oct 2018 2.04 0.32 1.72
29 Jun 2018 02 Jul 2018 2.12 0.25 1.87
RISK STATISTICS SINCE LAUNCH
FUND BENCHMARK
Annualised Deviation 4.2% 1.5%
Downside Deviation 2.3% 0.0%
Maximum Drawdown (3.9)% (0.9)%
Maximum Gain 21.2% 26.9%
Positive Months 76.0% 93.8%
Sharpe Ratio 0.5% 1.1%
BEST AND WORST PERFORMANCE PERIODS
Best Performing 12 months 21.2% Jun 2012 - May 2013
Worst Performing 12 months 0.5% Dec 2017 - Nov 2018
TOP 10 HOLDINGS
AS AT 31 March 2019 % OF FUND
Naspers Ltd 2.2%
British American Tobacco Plc 1.8%
Egerton Capital Equity Fund 1.6%
Contrarius Global Absolute Fund 1.4%
Anglo American Plc 1.3%
Maverick Capital 1.2%
Standard Bank Group Ltd 1.2%
Lansdowne Capital 1.1%
Fortress Income Fund Ltd A 0.8%
RMB Holdings 0.8%
FEES (EXCL.VAT)
INITIAL FEE Coronation: 0.00%
ANNUAL MANAGEMENT FEE

1.25% 

An annual fee of 1.25%(excl VAT) is payable.

The annual management fee is accrued daily and paid monthly. Fund expenses incurred in the fund include fees payable to unconnected international fund managers on a portion of assets situated offshore as well as trading, custody and audit charges. All performance information is disclosed after deducting all fees and other fund costs.

We do not charge fees to access or withdraw from the fund.

TOTAL EXPENSE RATIO (TER) 1.63% per annum, which includes a performance fee of 0%
TRANSACTION COSTS 0.05
ADVICE COSTS (EXCLUDING VAT)

Coronation does not provide financial advice and therefore does not charge advice fees. However, investments are often placed on your behalf by a financial adviser, in which case fees are negotiated directly between you and your adviser, within the following ranges: Initial 0.00% - 3.00%, Ongoing 0.00% - 1.00% when the initial fee is less than 1.50%, 0.00% - 0.50% when the initial fee is more than 1.50%. Sharing of annual management fees: A portion of Coronation’s annual management fee may be paid to administration platforms as a subsidy for administrative and advice costs incurred when investing through these channels. Where commission and incentives are paid, these are included in the overall costs.