Manager Research

Nishan Maharaj will be the new head of the Coronation Fixed Income team effective as of 1 November 2016. Nishan takes over from Mark Le Roux who is stepping into an exclusively investment focussed role from that date onwards.

Nishan has been with Coronation since 2012. For the past 4 years he has been managing a portion of all fixed income strategies at Coronation as well as co-managing the Coronation Strategic Income Fund with Mark Le Roux.  Nishan has been groomed for this extra responsibility by heading up fixed income research for the past 18 months. Nishan managed fixed income hedge funds at Investec as well as being involved in interest rate derivative trading at Stanlib prior to joining Coronation.

The move is precipitated by Mark Le Roux’s decision to hand over his people management and administrative responsibilities to allow him to focus purely on investments.  Mark will retain all his current investment responsibilities including portfolio management of the Coronation Strategic Income Fund. With this change in team leadership, Coronation are also beginning to give limited fund management responsibility to existing fixed income team members Kanyane Matlou and Sinovuyo Ndaleni.  Coronation have bolstered their fixed income team over the last 3 years or so, however we still believe that there is a reliance on Mark’s experience and skill.  This will reduce over time as others gain additional experience, but Mark is still essential to the successful management of the fixed income portfolios.

We are comfortable with the proposed changes and do not believe they will have a negative impact on the management of the funds.  These changes do not alter our views on any of the ratings for the Coronation funds.