Coronation is Emerging Market Equity Manager of the Year
01 December 2014 - Coronation Insights
Coronation Fund Managers was named Emerging Market Equity Manager of the Year at the inaugural Professional Pensions InvestmentAwards 2014 held in London on 28 November.
Celebrating excellence among the asset managers who serve UK occupational pension schemes, the awards shortlist was drawn up in association with Aon Hewitt, a leading global investment consultancy. Shortlisted managers were required to demonstrate both excellent performance and relative growth in assets under management over the 12 months to 30 June 2014. Recognising the importance of consistent longer-term performance, the managers’ three year track records were also considered.
Coronation Global Head of Institutional Business, Kirshni Totaram, commented: “We are very pleased to have received this industry recognition. As a South African operation with more than 20 years’ experience, our expertise in emerging markets is well documented. Our Global Emerging Market (GEM) Strategy has, since launch in 2008, produced both market- and peer-beating returns, delivering an annualised alpha of 7.81% as at end November 2014. Today Coronation manages a total of $4.81 billion in its GEM Strategy.”
Totaram explains that Coronation is a long-term, valuation-driven house, with an investment philosophy that is deeply engrained in the culture of this Cape Town-headquartered operation. “We apply exactly the same research process when investing in Emerging Markets as we have successfully done in South Africa since launch in 1993. Our experience in an emerging market has provided an excellent training ground, applying our disciplined bottom-up investment approach in highly volatile macro-economic environments.”
She adds that Coronation’s portfolios are managed on a clean-slate basis. “As such, we do not use indices as a starting point for building a strategy, preferring to rely on valuation discipline and diversification. Our emphasis is on stock selection rather than top-down geographic allocation or macro themes. We are comfortable taking decisive positions away from the benchmark, as these positions are underpinned by convictions derived from our proprietary analysis.”
Commenting on the outlook for emerging markets, Totaram concludes: “We believe emerging markets offer a valuable long-term investment opportunity as these economies and companies gain global prominence. An increasing number of emerging market companies are well-run with greater transparency, and now offer access to areas of global economic growth.”
Coronation also received the accolade for Rising Star of Asset Management at the Professional Pensions awards ceremony.
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