The story
History
Coronation Fund Managers commenced operations in Cape Town in 1993, as an independent asset management company operating without tied distribution channels. Since its establishment, the firm has grown its asset base organically. International expansion began in the late 1990s, with the opening of an office in Dublin in 1998 and in London in 1999.
In June 2003, Coronation Fund Managers was listed on the Johannesburg Stock Exchange (JSE). That same year, it became the first South African asset manager to achieve compliance with the Global Investment Performance Standards (GIPS).
In 2008, Coronation launched two Africa portfolios.
Transformation
Coronation has participated in several initiatives aimed at economic transformation within the Southern African financial services sector. These include the launch of Namibia Asset Management (1996), the funding of African Harvest Asset Management (1999), and the establishment of Kagiso Asset Management (now Camissa Asset Management) in 2001. In 2018, the firm partnered in the launch of Intembeko Investment Administration.
In 2005, Coronation established the Imvula Trust to facilitate direct black ownership. In November 2024, shareholders approved a Broad-Based Black Economic Empowerment (B-BBEE) transaction that increased the company's effective black ownership to 52% as measured by the Financial Sector Code. This transaction was named the Exxaro BEE Deal of the Year by DealMakers in 2024. The firm has maintained a Level 1 B-BBEE contributor status since 2021.
From Wikipedia’s article on Coronation Fund Managers, shared under CC BY-SA 4.0.5