Coronation in the news
Coronation is company of the year (Personal Finance 25/01/2003)
Coronation has out-performed all other unit trust management companies for
the third consecutive quarter, the latest Plexus survey of management companies
shows. In second place overall is 2001 winner, Liberty, followed by Investec.
Coronationís winning funds were Coronation International Active Fund of Funds,
Coronation Money Market, Coronation Optimum Growth and Coronation Specialist
Bond. FTNIB dropped from ninth to 14th position in the overall rankings. Five of
FTNIB's funds deteriorated by one quintile, while seven of its funds managed to
maintain their positions. PSG also took a knock and dropped four places to take
15th position over three years. Allan Gray is in the winning seat over the
one-year measurement period.
Listing of Coronation Fund Managers (Business Report,
At listing, Coronation Holdings' private equity and investment
banking arm will own 35 percent of Coronation Fund Managers, Old Mutual Asset
Managers will hold 15 percent, Allan Gray 6 percent, the Public Investment
Commissioners 10 percent, while other shareholders will own 34 percent.
Coronation Fund Managers will be the only listed asset
management company, it is listing in a year when it is expected to report lower
profit, and it will be a small capitalisation stock on a market that has
recently seen more than five delistings for every new listing.
Coronation boasts strong asset growth: May 11th 2005
Coronations's assets under management have topped the R70bn mark, following a
strong rise in equity markets and a solid investment performance from the group.
Coronation yesterday said institutional funds under management at the group grew
16% in the 12 months to March to R53,5bn, while its unit trust business
attracted an additional R800m in net inflows. It now manages R9,9bn of unit
trusts on behalf of retail investors.
In December, the group sold 10% of its business to black staff. In January,
it announced it was selling a further 11% to help retain senior staff. "I
think it's unlikely, now that they are part-owners of the business, they would
want to seek their fortunes elsewhere," said Thys du Toit, the chief
Coronation proud of its pension fund performance
Coronation Fund Managers, South Africa's sixth-biggest money manager, has
made an average return of 29.4 percent for its pension fund clients over the
past 12 months, the company said yesterday.
"We have done well for our clients," said Thys du Toit, the chief
executive. Reporting a first-half profit increase of 24 percent, Du Toit said he
was "quite pleased" with the company's financial results and
"more pleased" with its investment results.
Coronation reports 22% increase in headline earnings
Coronation Fund Managers Limited, one of South Africaís largest independent
fund management companies, today announced its interim results for the six
months ended 31 March 2005. Revenue for the six month period was up 39% to
R262.7 million (2004: R188.9 million). Net income attributable to shareholders
increased by 25% to R75.3 million (2004: R60.5 million) and headline earnings
per share improved 22% to 19.6 cents (2004: 16.1 cents).
Total assets under management increased to R70.0 billion from R59.3 billion
at 31 March 2004. Coronationís collective investment funds (unit trusts)
attracted net inflows of R800 million resulting in domestic retail assets under
management now exceeding R9.9 billion. This represents growth of 52% over the
past year. Institutional assets increased by 16% to R53.5 billion, in spite of
some net outflows on the back of specific fund restructurings. Internationally,
assets under management exceeded US$1 billion