Coronation still wears top manager crown
Coronation claimed the title of the top manager of domestic funds in this quarter’s PlexCrown survey – the third time in a row that it has been ranked number one.
Sixteen managers of collective investments qualified for an overall rating based on the risk-adjusted performance of most of their funds for periods of up to five years to June 30.
The PlexCrown survey determines the leading fund manager on the basis of the PlexCrown ratings, which measure risk-adjusted performance and the consistency of that performance over five years.
The survey determines a manager’s strengths in various broad unit trust categories.
Coronation achieved an overall rating of 4.657 out of a maximum of five PlexCrowns.
The asset manager was ranked third relative to its peers in three broad categories in which managers’ unit trust funds invest in the South African financial markets: equity and real estate, interest- bearing and income, and multi-asset.
Coronation shared fifth place with Absa and Marriott in the rankings for the management of funds in the global and worldwide categories.
Coronation has 19 funds that qualify for PlexCrown ratings. Seven of its funds each achieved the highest rating of five PlexCrowns: the Equity Fund, the Industrial Fund, the Property Equity Fund, the Balanced Defensive Fund, the Balanced Plus Fund, the Capital Plus Fund and the Strategic Income Fund.
Four of Coronation’s funds were ranked top in their respective subcategories, while 16 of the 19 funds, or 84 percent of the company’s rated funds, achieved an above-average rating of four or more PlexCrowns.
Allan Gray was placed second in the overall ranking of managers. It achieved an average score of 4.523 out of a maximum of five PlexCrowns.
Allan Gray has seven funds that qualify for PlexCrown ratings. Four of its funds achieved five PlexCrowns each: the Balanced Fund, the Bond Fund, the Orbis Global Equity Feeder Fund and the Orbis Global Fund of Funds. Three of these four funds were placed first in their respective unit trust categories.
Allan Gray achieved the secondhighest rating among its peers for the management of funds that invest in South African markets.
The investment house shared first place with Cadiz in the broad South African interest-bearing and income category, and in the global and worldwide category, Allan Gray shared the lead with Old Mutual and Regarding Capital Management.
Allan Gray was placed fifth out of 77 managers in the South African multi- asset ( excluding multi- asset income) category. It shared sixth position in the South African equity and real estate category with Metropolitan Collective Investments, Personal Trust and Satrix.
Nedgroup Investments edged out PSG to take third spot overall, with a rating of 4.152 PlexCrowns.
Nedgroup obtained the thirdhighest rating among its peers for the