We need economic growth, we need people to save more, says Coronation CEO

accreditation
Share your Subscriber Article
You have 5 articles to share every month. Send this story to a friend!
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
loading...
Loading, please wait...
0:00
play article
Subscribers can listen to this article
Coronation CEO Anton Pillay.
Coronation CEO Anton Pillay.
Photo: Supplied

After last year's rally in financial markets - a bounce-back after the pandemic-related losses of 2020 - things are returning to normal for active asset managers.

For Coronation Fund Managers, growth in assets under management (AUM) is tapering off, fund management fees are starting to fall - and so are earnings.

"When Covid-19 hit, the market responded quite negatively. So, we were able to find some good opportunities in 2020 that resulted in the portfolios outperforming in 2021. But we did say that in the current year, we don't expect those performance fees to repeat," said Coronation CEO Anton Pillay, at the release of the company’s results for the six months to March. 

Read this for free
Get 14 days free to read all our investigative and in-depth journalism. Thereafter you will be billed R75 per month. You can cancel anytime and if you cancel within 14 days you won't be billed.
Subscribe
Already a subscriber? Sign in
Rand - Dollar
16.74
+0.3%
Rand - Pound
20.09
-0.3%
Rand - Euro
17.04
+0.4%
Rand - Aus dollar
11.44
-0.5%
Rand - Yen
0.12
+0.2%
Gold
1,743.70
+0.3%
Silver
19.34
+0.7%
Palladium
2,000.00
+4.0%
Platinum
877.00
+2.1%
Brent Crude
100.69
-2.1%
Top 40
61,804
+3.5%
All Share
67,972
+3.4%
Resource 10
63,743
+5.4%
Industrial 25
83,558
+2.6%
Financial 15
14,840
+3.1%
All JSE data delayed by at least 15 minutes Iress logo
Company Snapshot