Coronation Global Emerging Markets Fund

Fund Objectives

The Fund aims to deliver capital growth with lower volatility than the relevant indices. This will be achieved through focused stock picking within the emerging markets. The Fund aims to provide investors with access to the best opportunities presented in the emerging markets equity universe.

Investment Strategy

The fund predominantly invests in equity securities of companies based in emerging markets or in equity securities that derive a significant portion of their revenue from emerging economies. In addition, the fund can invest in cash but will remain biased towards equities at all times. Cash exposure will normally be investment-grade USD and Euro denominated instruments. The fund is constructed on a clean-slate basis and therefore has no reference to a benchmark. Portfolio construction is from the bottom-up, with a focus on holding those shares which offer the most attractive risk adjusted upside to fair values relative to current market prices. In calculating fair values through our proprietary research, we place the emphasis on normalised earnings and/or free cash flows using a long-term time horizon (5 years), rather than focusing on news flow and current earnings. We have a valuation-driven approach and strive to buy shares trading well below what we believe the business is worth.

Investment Performance

Annual Return and Maximum Drawdown Figures Updated: 01 Jan 1900
2 years 3 years 5 years 7 years 10 years Maximum Drawdown
2.91% 4.72% -2.63% 2.69% n/a -40.03%

Fund and Adviser Fees

Adviser Fees Administration Fees Management Fees
Upfront Annual Standard Manager Discount Effective Annual Fee Total Expense Ratio (TER)
0.00% 0.50% not available not available not available 1.46%

All fees shown exclude VAT. Data provided by Morningstar and Allan Gray / Investec.

What are adviser fees?

Adviser fees are paid to Beanstalk. We do not charge an upfront fee and our annual fee is very low at just 0.50% (+ VAT where applicable).

What are administration fees?

Annual administration fees are charged by Allan Gray Investment Services Proprietary Limited or Investec Management Services (Pty) Ltd for ongoing administation. The fee applicable to your investment depends on the unit trusts you have selected and the value of your investment. A negative annual administration fee means you will pay no annual administration fee and will receive additional units into your account.

What are management fees?

The Fund charges a base fee and a performance fee. The base fee is 1.15% (VAT exempt). The performance fee is calculated as 20% of the outperformance of the benchmark over a 24 month rolling period up to a maximum of 1.25% (VAT exempt).When the fund return is below the benchmark over a rolling 5 year period the fee is discounted to 1.00% (VAT exempt).

Management fees are expenses included in the price of your selected unit trust(s). These expenses are not charged as separate fees, but are built into the unit price of the unit trusts you select. The fees shown include VAT where applicable. Values are calculated using more decimal places than are displayed.

Fund Positioning

This fund is suitable for aggressive investments.

Fund Asset Allocation

Asset allocation as of
31 Dec 2014

Tools

Disclaimer

Please note that while every effort is taken to ensure the accuracy of this information, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the fund information presented on this page. All data is provided by Morningstar, Allan Gray and Investec.