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Byline: Ben Temkin
PRIVATE INVESTOR Absolute return is the real test of investment IN THE report on the results for the year ended September 30, the directors of Coronation Fund Managers (Coronat) emphasised how the performance of their funds had been driven on the criterion of absolute return. Wikipedia's definition is: The absolute return or simply return is a measure of the gain or loss on an investment portfolio expressed as a percentage of invested capital. The adjective 'absolute' is used to stress the distinction with the relative return measures often used by long-only equity funds. The Private Investor portfolio's aim is to achieve a return of earnings on invested …