Coronation Fund Managers reported that its profit fell 22%, as fee income and assets under management declined, for the six months to 31 March 2022. The company said its domestic-oriented funds delivered strong positive returns over the review period, while international performance was weak. Coronation said it expects net client cash flows to remain subdued. This is due to both the global and local macro-political outlook, coupled with deterioration in investor sentiment. These factors are likely to depress investor demand for long-term investment funds, for the foreseeable future.
