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 33.41 billion
NAV (22 March 2019): 187.83
NUMBER OF A - UNITS: 3748429304.51
TIME HORIZON: 2 years +
REGULATION 28: Yes
RISK RATING:

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

Not Available

PERFORMANCE FOR VARIOUS PERIODS AFTER FEES
FUND BENCHMARK PEER GROUP AVERAGE
Since Launch (unannualised) 196.9% 182.1% 144.2%
Since Launch (annualised) 9.5% 9.0% 7.7%
Latest 10 years (annualised) 10.4% 8.3% 8.7%
Latest 5 years (annualised) 6.7% 8.1% 6.4%
Latest 3 years (annualised) 6.1% 7.9% 5.5%
Latest 1 year 6.6% 7.5% 5.1%
Year to date 3.7% 1.5% 3.0%
MONTHLY PERFORMANCE RETURNS AFTER FEES
2019 2018 2017 2016 2015 2014 2013 2012 2011
JAN 1.6% (0.2)% 1.1% (1.2)% 1.6% (0.8)% 2.9% 1.7% 0.8%
FEB 2.1% (0.6)% 0.1% 0.3% 1.3% 1.4% 0.3% 0.5% 0.5%
MAR - (0.2)% 1.4% 2.3% 0.1% 0.9% 1.7% 1.6% 0.4%
APR - 2.6% 1.5% 0.5% 1.7% 0.8% 0.8% 1.4% 1.4%
MAY - (0.4)% 0.1% 2.8% (0.6)% 1.6% 3.5% (0.1)% 1.1%
JUN - 2.0% (0.9)% (1.9)% (0.3)% 1.1% (2.6)% 0.7% (0.3)%
JUL - 0.0% 2.3% 0.8% 0.9% 0.7% 1.8% 2.4% 0.1%
AUG - 2.5% 0.4% 1.9% (0.4)% 0.6% 0.1% 1.8% 1.1%
SEP - (1.4)% 1.3% (1.2)% (0.1)% (0.1)% 2.7% 0.9% 0.8%
OCT - (1.1)% 2.4% (1.3)% 3.0% 0.7% 1.3% 2.2% 3.5%
NOV - (1.5)% (0.8)% 0.7% (0.1)% 1.1% 0.4% 1.5% (0.2)%
DEC - 0.3% (1.1)% 0.3% 0.8% 0.4% 1.9% 0.7% 0.6%
YTD 3.7% 2.0% 7.8% 3.9% 8.1% 8.8% 15.7% 16.4% 10.3%
INCOME DISTRIBUTIONS
DECLARATION DATE PAYMENT DATE AMOUNT DIVIDEND INTEREST
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
29 Mar 2018 03 Apr 2018 1.76 0.28 1.48
RISK STATISTICS SINCE LAUNCH
FUND BENCHMARK
Annualised Deviation 4.2% 1.6%
Downside Deviation 2.3% 0.0%
Maximum Drawdown (3.9)% (0.9)%
Maximum Gain 21.2% 26.9%
Positive Months 75.7% 93.8%
Sharpe Ratio 0.5% 1.0%
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 December 2018 % OF FUND
Naspers Ltd 2.0%
Egerton Capital Equity Fund 1.5%
British American Tobacco Plc 1.4%
Contrarius Global Absolute Fund 1.3%
Standard Bank Group Ltd 1.2%
Anglo American Plc 1.1%
Maverick Capital 1.1%
Lansdowne Capital 1.0%
RMB Holdings 0.8%
Fortress Income Fund Ltd A 0.8%
FEES (EXCL.VAT)
INITIAL FEE Coronation: 0.00%
ANNUAL MANAGEMENT FEE

1.25% 

The above fee structure is new and took effect on 1 October 2017. 
The fund will discount to 0.75% p.a. for negative performance over a rolling 12-month period until 30 September 2018, thereafter the discount will fall away.

TOTAL EXPENSE RATIO (TER) 1.65% 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.