Coronation’s interim results have shares tumbling after the asset manager reported a tough financial climate. Coronation reported an 8 per cent decrease in Assets under management for the 6 month period. Diluted headline earnings were down 26 per cent per share since March 2018. Coronation CEO, Anton Pillay joins CNBC Africa to unpack the numbers.
South African Institutions including Abax Investments, Allan Gray and Coronation, to name a few have joined a class action run by Dutch law firm BarentsKrans against Steinhoff. The legal firm is seeking losses suffered as a result of the collapse in the share price of global retailer Steinhoff in December 2017. Joining CNBC Africa for more is Martin Hyde, Director, Claims Funding Europe.