Medical Aid Cash Strategy
INSTITUTIONAL
INVESTMENT OBJECTIVE:
The Coronation Medical Aid Cash Strategy complies with Regulation 30 of the Medical Schemes Act. The Strategy has a low-risk approach suitable for medical aid schemes seeking returns that are superior to those of overnight cash rates, while taking into consideration capital protection and liquidity requirements. The portfolio duration is limited to 180 days and the maximum term to maturity of an individual instrument does not exceed 3 years.
Coronation is a long-term, valuation-driven investment house. Our aim is to identify mispriced assets trading at discounts to their fair value through extensive proprietary research. The fixed income portfolios are positioned on a long term strategic market view, but this is balanced by taking advantage of shorter-term tactical opportunities when the market lags or runs ahead of that strategic view. As active managers, we consider investment decisions across the full spectrum of potential return enhancers. These include duration and yield curve positions, inflation-linked assets as well as yield enhancement through credit enhanced assets. We aim to maximise returns by actively combining both a top-down and a bottom-up approach to portfolio construction.
The value of investments may go down as well as up, and is therefore not guaranteed. Past performance is not necessarily an indication of future performance.
PERFORMANCE FOR VARIOUS PERIODS AFTER FEES | |||
---|---|---|---|
FUND | BENCHMARK* | OUTPERFORMANCE | |
Since Launch (unannualised) | 306.2% | 236.8% | 69.4% |
Since Launch (annualised) | 7.8% | 6.7% | 1.1% |
Latest 15 years (annualised) | 7.3% | 6.1% | 1.2% |
Latest 10 years (annualised) | 7.5% | 6.2% | 1.3% |
Latest 5 years (annualised) | 6.9% | 5.7% | 1.2% |
Latest 3 years (annualised) | 7.5% | 6.3% | 1.2% |
Latest 1 year | 9.5% | 8.3% | 1.2% |
Year to date | 5.4% | 4.7% | 0.7% |
Month | 0.7% | 0.7% | 0.0% |
* Short Term Fixed Interest 3-month Index (STeFI 3m)
The value of investments may go down as well as up, and is therefore not guaranteed. Past performance is not necessarily an indication of future performance.
All information and opinions provided are of a general nature and are not intended to address the circumstances of any particular individual or entity. As a result, there may be limitations as to the appropriateness of any information given. It is therefore recommended that the reader first obtain the appropriate legal, tax, investment or other professional advice and formulate an appropriate investment strategy that would suit the risk profile of the reader prior to acting upon such information and to consider whether any recommendation is appropriate considering the reader’s own objectives and particular needs. Neither Coronation Fund Managers Limited nor any subsidiary of Coronation Fund Managers Limited (collectively “Coronation”) is acting, purporting to act and nor is it authorised to act in any way as an adviser. Any opinions, statements or information contained herein may change and are expressed in good faith. Coronation does not undertake to advise any person if such opinions, statements or information should change or become inaccurate. This document is for information purposes only and does not constitute or form part of any offer to the public to issue or sell, or any solicitation of any offer to subscribe for or purchase an investment, nor shall it or the fact of its distribution form the basis of, or be relied upon in connection with any contract for investment. In the event that specific funds and/or strategies (collectively “funds”) and/or their performance is mentioned, please refer to the relevant fact sheet in order to obtain all the necessary information regarding that fund Investment Strategies. Fund investments should be considered a medium-to long-term investment. The value of investments may go down as well as up, and is therefore not guaranteed. Past performance is not necessarily an indication of future performance. Funds may be allowed to engage in scrip lending and borrowing. To the extent that any performance information is provided herein, please note that: Performance is calculated by Coronation for a lump sum investment with distributions, to the extent applicable, reinvested. Performance figures are quoted gross of management fees after the deduction of certain costs incurred within the particular fund. Fluctuations or movements in exchange rates may cause the value of any underlying international investment to go down or up. Coronation Fund Managers Limited is a full member of the Association for Savings and Investment SA (ASISA). Coronation Asset Management (Pty) Ltd (FSP 548), Coronation Investment Management International (Pty) Ltd (FSP 45646) and Coronation Alternative Investment Managers (Pty) Ltd (FSP 49893) are authorised financial services providers. Coronation Life Assurance Company Limited is a licenced insurer under the Insurance Act, No.18 of 2017.