Coronation Fund Managers
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| Company type | Public Company (JSE: CML) [1] |
|---|---|
| Founded | Cape Town, 1993 |
Areas served | South Africa, Botswana, Swaziland, Ireland, United Kingdom and Namibia |
Key people | Hugo Nelson (Chief Executive Officer), Anton Pillay (Chief Operating Officer), Karl Leinberger (Chief Investment Officer), Kirshni Totaram (Head of Institutional Business), Pieter Koekemoer (Head of Personal Investments) |
| Products | Institutional segregated and pooled portfolios, Domestic and international unit trust funds, Retirement products, Emerging Market Funds, Africa Funds, Hedge Funds, Domestic and Global Absolute Return Funds |
| Revenue | R1 377 million (2010) |
| Website | www.coronation.com |
Coronation Fund Managers (JSE: CML) a southern African third-party fund management company, headquartered in Cape Town[3], South Africa with locations in all South African major centers and offices in Botswana, Swaziland, Ireland, United Kingdom and in Namibia represented by Namibia Asset Management as a strategic partner. Assets under management total R240 billion as of June 2011.
History
Coronation Fund Managers commenced operations in Cape Town in 1993, with 15 staff and no assets under management[4].
In 1996 Coronation's unit trust business was launched, Coronation Management Company[5]. It also launched South Africa’s first international fund of hedge funds: Coronation Global Equity Fund.
In 1997, Coronation launched the country’s first retail international fund of hedge funds, the Coronation International Active Fund of Funds, and was instrumental in the formation of Namibia Asset Management and Namibia Unit Trust Managers.
In 1998 Coronation Fund Managers established in Dublin, Ireland and in 1999 opened an office in London. This was also the year in which Coronation pioneered the launch of absolute return products to the [6]South African market.
In June 2003, Coronation Fund Managers was listed separately on the Johannesburg Stock Exchange (JSE) after it was unbundled from Coronation Holdings with a total staff compliment of 133[7]. It became the first asset manager in South Africa to gain Global Investment Performance Standards (GIPSTM) compliance.
Since its formation, Coronation has been instrumental in developing a number of black-controlled enterprises in the asset management industry. This includes Namibia Asset Management and Namibia Unit Trust Managers in Namibia and African Harvest in 1997, Kagiso Asset Management in 2002, and in 2005 launched Coronation Fund Managers [8]Botswana.
In 2007, Coronation became a signatory to the United Nations Principles of Responsible Investments[9] and began formulating their global emerging markets (GEM) product offering – establishing a dollar-denominated institutional fund in Dublin as well as the only retail GEM fund available to South African [10]investors in rand. Coronation’s Africa unit was launched in 2008[11].
Business activities
Coronation is a pure fund management business that provides both individual and institutional investors with access to markets across a number of geographies.
Clients include some of the largest retirement funds, medical schemes and multi-manager companies in South Africa. Many of the major banking and insurance groups, selected investment advisory businesses, prominent independent financial advisors, high-net-worth individuals and direct unit trust accounts are additional clients.
Funds: Equity only South African equity Developed Market equity Emerging Markets equity African equity Multi-asset South African multi-asset Global multi-asset Fixed interest South African fixed interest Developed Market fixed interest Absolute return Global Domestic Hedge Domestic Global Emerging Markets Fund of Funds Developed Market
Sustainable development
Transformation
Sustainable black economic empowerment (BEE) and transformation is an integral part of their business strategy[12]. Coronation’s approach to transformation is based on the ideal that people are their greatest asset. This is reflected in their choice of a broad-based black economic empowerment (BEE) partner, The IMVULA Trust[13]. The partnership was announced in November 2004, with the beneficiaries all being existing and future permanent Coronation black staff.
Due to its transformation strategy Coronation exerts an influence on its suppliers, including stockbrokers, to enhance their BEE credentials and to steadily increase the percentage of procurement from BEE sources. In 2006 Coronation created its Business Support Programme to assist in the development of niche black stockbroking businesses[14]. This is aimed at the businesses that are currently too small to compete with full service brokers within the institutional business.
CSI
The objective of Coronation’s focused social investment programme is to empower individuals and uplift historically disadvantaged communities. All the projects in which it is involved are sustainable and dedicated to the development of human and intellectual capital[15].
The Coronation Bursary Programme was constructed to provide bursaries to a number of qualifying young black South Africans.
Improving the standards of education in South Africa through strategic interventions into learning environments, achieved through the Coronation-sponsored Reading Adventure Room programme in the Western Cape.
Imparting the necessary skills to create jobs and alleviate the frontiers of poverty through the highly successful Coronation Growing Entrepreneurs Programme (Agri-planner), pioneered in 2004 with the South African Institute for Entrepreneurship.
Sponsorship
The Coronation Double Century Cycle Challenge is a 202 km team race which is limited to 200 teams and starts and finishes in Swellendam[16]. Coronation Fund Managers Limited has been a proud partner of this premier annual team cycling event since 2007[17]. The Coronation Double Century is the cycling equivalent of an ultra marathon. Teams have 10 hours and 30 minutes to complete the 202 kilometers.
Coronation is a sponsor of Back to Africa whose projects include returning animals from zoos worldwide to their natural habitat in Africa[18].
References
- ^ http://fin.jse.co.za/findata/sharesearchresult.asp?searchtype=string&searchtext=CML&y
- ^ http://www.coronation.com/doc-1-sc-2-3275/dc-2-2405
- ^ http://www.coronation.com/doc-1-sc-2-5689/dc-2-3884
- ^ http://free.financialmail.co.za/report05/coronation05/index.html
- ^ http://www.btimes.co.za/98/top100/top20.htm
- ^ http://free.financialmail.co.za/report05/coronation05/index.html
- ^ http://free.financialmail.co.za/report05/coronation05/index.html
- ^ http://free.financialmail.co.za/report05/coronation05/bfundman.htm
- ^ http://www.docstoc.com/docs/72488838/Investing-for-the-long-term
- ^ http://www.unpri.org/signatories/
- ^ http://www.africa-fm.com/article/coronation-long-term-performance-everything
- ^ http://www.coronation.com/doc-1-sc-2-2984/dc-2-2268
- ^ http://free.financialmail.co.za/report05/coronation05/bfundman.htm
- ^ http://www.itinews.co.za/companyview.aspx?companyid=21660&itemid=7998D18C-6A30-4710-80F9-8BB2049DC5DE
- ^ http://www.coronation.com/doc-1-sc-2-4914/dc-2-6671
- ^ http://www.coronationdc.co.za/event/
- ^ http://www.coronationdc.co.za/partners/
- ^ http://www.tv-ads.co.za/coronation_lion.html