Coronation’s profit rises 17% despite client outflows
Global institutional funds increased almost 20% to R79bn after a strong performance in offshore markets
24 November 2020 - 11:34
Coronation Fund Managers reported a 17% increase in annual profits despite suffering net outflows of 7% as both retail and institutional clients withdrew money in response to the economic devastation caused by Covid-19.
The Cape Town-based investment firm said after tax profit for the year climbed to R1.39bn in the 12 months to September 30, from R1.19bn in the corresponding period the previous year...
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