United States - Institutional
Global Frontiers Strategy
INSTITUTIONAL
INVESTMENT OBJECTIVE:
The Coronation Global Frontiers Strategy aims to maximise the long-term risk-adjusted returns from investments across global frontier markets through capital growth of the underlying stocks selected. It is a flexible portfolio primarily invested in listed equities. The Strategy may hold cash and interest bearing assets where appropriate.
Coronation is a long-term, valuation-driven investment house, focused on bottom-up stock picking. Our aim is to identify mispriced assets trading at discounts to their long-term business value (fair value) through extensive proprietary research. In calculating fair values, through our fundamental research, we focus on through-the-cycle normalised earnings and/or free cash flows using a long-term time horizon. The Portfolio is constructed on a cleanslate basis based on the relative risk-adjusted upside to fair value of each underlying security. The Portfolio is constructed with no reference to a benchmark. We do not equate risk with tracking error, or divergence from a benchmark, but rather with a permanent loss of capital.
*Secured Overnight Financing Rate (SOFRINDX Index) from 01 December 2021. Previously ICE LIBOR USD 3 Month (US0003M Index)
The above graph is provided for illustrative purposes only. It reflects composite performance of the strategy and is gross of fees.
| STRATEGY RETURNS GROSS OF FEES | |||
|---|---|---|---|
| STRATEGY | BENCHMARK* | OUTPERFORMANCE | |
| Since Launch (unannualised) | 50.3% | 21.0% | 29.3% |
| Since Launch (annualised) | 4.2% | 1.9% | 2.3% |
| Latest 5 years (annualised) | 6.6% | 2.5% | 4.1% |
| Latest 1 year | 14.8% | 5.5% | 9.3% |
| Year to date | 5.8% | 4.6% | 1.2% |
| Month | (6.8)% | 0.4% | (7.2)% |
*Secured Overnight Financing Rate (SOFRINDX Index) from 01 December 2021. Previously ICE LIBOR USD 3 Month (US0003M Index)
The performance shown is gross of fees. Since launch no fees have been charged. Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. The volatility of the Secured Overnight Financing Rate (SOFRINDX Index) represented above may be materially different from that of the Global Frontiers Strategy. In addition, the holdings in the accounts comprising the Strategy may differ significantly from the securities or components that comprise the Secured Overnight Financing Rate (SOFRINDX Index). The Secured Overnight Financing Rate (SOFRINDX Index) has not been selected to represent an appropriate benchmark to compare the Global Frontiers Strategy's performance, but rather is disclosed to allow for comparison of the Strategy's performance to that of a well-known and widely recognized index.
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