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Coronation Fund Managers

Coronation Fund Managers

The CFM Group is a South African fund management company with specialist international capabilities, offering a complete range of traditional fund management and multi-manager investment products to institutional and individual investors. The business is located in South Africa, the United Kingdom and Ireland. ~~Assets under management currently exceed R48bn, 18% of these assets (USD1.1bn) are managed internationally.

Coronation Fund Managers is now one of the largest third party fund managers in South Africa. Coronation Fund Managers (CFM) is a global asset management company offering a complete range of domestic and international products to major pension and provident funds, institutional and high net worth unit trust clients.

The company has investment banking and financial services divisions, as well as an international division, which was opened in London in 2000. The company outsources all non-core operations. CFM acquired Harvest Life Assurance Company Ltd during 2002, and renamed it Coronation Life Assurance Company Ltd. Coronation Capital also sold Coronation Equities to African Harvest, while retaining a 30% stake.

Unit trust details

Date first unit trust launched: 1996
No of unit trusts: 21
Total Asset under management: R53.5 billion (May 2005)
Unit trust assets under management: R9.9 billion (May 2005)

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, 11/06/2003)

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 executive

Coronation proud of its pension fund performance (May 2005)

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 (May 2005)

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


Website: http://www.coronation.co.za

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