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23.63  /  0.24%

9808.01

NAV on 2019/01/16
NAV on 2019/01/15 9784.38
52 week high on 2018/09/05 11613.19
52 week low on 2018/03/28 9317.5
Total Expense Ratio on 2018/09/30 1.04
Total Expense Ratio (performance fee) on 2018/09/30 0.25
NAV Incl Dividends
1 month change -3.08% -3.08%
3 month change -4.51% -4.51%
6 month change -5.08% -4.25%
1 year change -5.17% -4.13%
5 year change 6.08% 6.99%
10 year change 0% 0%
Price data is updated once a day.
  • Sectoral allocations
Consumer Goods 91.45 1.32%
Consumer Services 193.31 2.78%
Financials 73.86 1.06%
General Equity 177.64 2.56%
Liquid Assets 31.49 0.45%
Offshore 6375.31 91.82%
  • Top five holdings
PHILIPMORRIS 262.41 3.78%
BRITUSATABACO 254.95 3.67%
PORSCHE 245.79 3.54%
58COMINC 215.51 3.1%
AIRBUSGROUP 208.05 3%
  • Performance against peers
  • Fund data  
Management company:
Coronation Fund Managers Ltd.
Formation date:
1999/03/15
ISIN code:
ZAE000175865
Short name:
U-COROPT
Risk:
Unknown
Sector:
Worldwide--Multi Asset--Flexible
Benchmark:
Composite: 35% JSE CAPI, 15% ALBI, 35% MSCI ACWI, 15% BGBA
Contact details

Email
clientservices@coronation.com

Website
http://www.coronation.com

Telephone
021-680-2000

  • Fund management  
Mark le Roux
Mark joined Old Mutual in 1991. After a brief spell in an accountancy position he moved to the Investment Division. He started there as a junior dealer working his way up to manager of a fixed interest and derivative dealing desk. In 1995 Mark took on his first portfolio management position. He currently manages bond portfolios - investing in assets of 13 pension funds and a portion of Old Mutual's life funds. In January 1996 Mark took over as portfolio manager of Old Mutual Gilt Fund
Louis Stassen
Louis is a founder member and former CIO of Coronation. He is a senior portfolio manager within the investment team responsible for the absolute return unit which he established in 1999. He also co-manages the Coronation Global Capital Plus Fund. Louis has more than 20 years' industry experience and has worked in the investment teams of Allan Gray, Syfrets Managed Assets and Standard Bank in London
Neville Chester
Neville has 14 years' investment experience and is a member of the executive committee. He spent four years as a research analyst within the financial services team at Old Mutual Asset Managers analysing banks and co-managing the financial fund. He joined Coronation in 2000 and in 2001 started managing segregated portfolios. Neville currently manages institutional portfolios within Coronation's aggressive equity portfolio range and the Coronation Market Plus fund. He also co-manages the Coronation Top 20 Fund.
Gavin Joubert
Head of Coronation's Emerging Markets team, Gavin has 15 years' experience as an investment analyst and portfolio manager. He has managed a range of South African equity and balanced funds and currently co-manages Coronation's Emerging Markets Fund. Prior to joining Coronation in 1999, Gavin qualified as a chartered accountant with Ernst & Young and worked for Merrill Lynch and CSFB in London.
Karl Leinberger
Karl is CIO and a member of the executive committee. He joined Coronation in 2000 as an equity analyst, was made head of research in 2005 and appointed CIO in May 2008. Karl co-manages the Coronation Houseview Portfolios as well as the Coronation Equity and Balanced Plus funds.


  • Fund manager's comment

Coronation Optimum Growth comment - Sep 18

2018/12/20 00:00:00
The fund appreciated by 2.3% in the third quarter of 2018, which was marginally behind the 2.8% return of its benchmark. The fund has now appreciated by 6.8% year-to-date, with rand depreciation playing a large role in the return as c. 90% of the fund is invested offshore. In terms of individual contributors year to date (YTD), Airbus (+30% in euros) is the largest contributor and has added 1.4% to the fund's return. Other notable contributors have been Alphabet (+15% YTD in US dollars, +1.2% positive impact) and Adidas (+25% YTD in euros, +1.1% impact). Over the past five years, the fund has generated a return of 11.0% per annum and over 10 years a return of 13.4%. Since inception almost 20 years ago it has produced a return of 14.2% per annum (2.6% p.a. ahead of the benchmark).
The fund ended the quarter with 65.6% net equity exposure: a reduction from the 70.9% equity exposure at the end of June. Of this, 60% of the equity exposure was invested in developed market equities, 36% in emerging market equities and 4% in South African equities. Given the large sell-off in emerging markets over the past few months we added additional emerging market equity exposure through adding to 58.com (no.1 online classified business in China) and Sberbank (no.1 bank in Russia) amongst others. At the same time, we reduced the fund's US technology exposure due to continued share price appreciation and resultant less attractive valuations. In this regard the Alphabet, Facebook and Microsoft positions were all reduced and collectively were 6% of fund at the end of September compared to 9% of fund at the end of June.
Our negative view on global bonds remains unchanged, although with US bond yields now rising we have started to build a small US government bond position (2.5% of fund), albeit largely in short-dated (2-year) treasuries. In addition to this we also bought a 1% position in L Brands (owner of Victoria's Secret) corporate bonds which were yielding 7.3% on purchase. The fund has 5.6% invested in global property: we are still finding selected value in the UK/European retail, US retail and German residential property stocks. Lastly, the fund has a physical gold position of 2.4%. The balance of the fund is invested in cash, largely offshore. As has been the case for a number of years now, the bulk of the fund (over 90%) is invested offshore, with very little being invested in South Africa.
Global markets are clearly far less attractive than they were three or five years ago, and the fund's equity exposure will likely continue to decline further if equity markets continue to rise. We are however still able to find good selected value in both developed markets and emerging markets and remain optimistic about the potential returns that can be generated by the fund.
  • Fund focus and objective  
Aims to deliver long-term growth by investing in a combination of local and international investments across all asset classes.
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