Coronation Balanced Defensive Fund (Class A)

The Coronation Balanced Defensive Fund aims to provide growing income and capital while remaining focused on the stability of capital in the medium term. The fund will seek to balance a reasonable level of current income with long-term preservation of capital in real terms. In order to achieve these objectives the portfolio will use an active asset allocation strategy, combined with an appropriate security selection process. The exposure to equity securities, interest-bearing securities, financial instruments and assets in liquid form in the portfolio will be managed to reflect changing economic and market conditions both locally and abroad. The portfolio may be invested in either of these securities or in any combination thereof, subject to the following limitations: In addition to the normal statutory investment limitations, allocations will be appropriate for retirement schemes and exposure to a combination of domestic and foreign equities may not exceed 40%.