In categories: Hedge Funds

CORONATION PRESIDIO HEDGE FUND

Investment objective

The investment objective of the Coronation Presidio Hedge Fund is to generate long-term, superior risk-adjusted returns from investing primarily in South African listed equities. The fund utilises a traditional long/short equity hedge fund structure with net exposure typically between 40% and 70% and moderate use of leverage with gross exposure in the 120% - 180% range. The fund invests in equities, both long and short, based on a bottom-up fundamental valuation-orientated analysis.

Investment parameters

The Coronation Presidio Hedge Fund may invest in International Assets. In addition to investing in equities, the fund may hold cash and interest-bearing assets where appropriate and make use of derivative instruments for efficient portfolio management purposes. Exposure to underlying funds is permitted. The Fund currently invests only in the Coronation Money Market Fund (as a cash component). Net exposure is capped at 100% and gross exposure is limited to 300%. Unlisted South African equities (up to 10% of portfolio value at cost / 15% of portfolio market value).

Investment team

We operate as an integrated global team headquartered in Cape Town, South Africa, comprising 54 investment professionals. The fund is managed by Karl Leinberger (Chief Investment Officer) and Quinton Ivan (Head of Core Equity), who have combined investment experience of 42 years.


Investment terms

Target return: Cash +7%
Fund open: Yes
Minimum investment: R5 million
Annual Management & Performance fees: Annual Management and Performance fees are agreed and levied outside of the Fund
Subscription: Monthly
Redemption: Monthly with 30 days notice
Retail or qualified product: QIF

Strategy

Fund category: South African Long Short Equity Hedge Fund
AUM: R2.08 billion (31 December 2023)
Currency: ZAR
Fund domicile: South Africa
Inception date: 1 October 2005
Hedge fund CIS launch date: 1 October 2017

Service providers

Administrator: JP Morgan Chase Bank, N.A., London Branch
Auditor: KPMG Inc.
Disclosed partner: Coronation Management Company (RF) (Pty) Limited

Contact details

Coronation Alternative Investment Managers (Pty) Ltd
7th Floor, MontClare Place, Cnr. Campground
and Main Roads, Claremont,
Cape Town, South Africa. 7708

CEO: Anton Pillay
Phone: +27 21 680 2000
Fax: +27 21 680 2100
Email: cib@coronation.com
Website: www.coronation.com

* See disclaimer