SA hedge fund manager Peregrine Capital partners with Prescient Fund Services for first global equity UCITS fund
Peregrine Capital (Pty) Ltd (Peregrine Capital) is to start marketing its Peregrine Capital Global Equity Fund, which launched on 18 November 2020.
The fund, which sits on the Prescient Global Funds ICAV platform and is authorised by the Central Bank of Ireland, will initially be distributed to investors in South Africa, and subsequently to investors in other key European markets.
Peregrine Capital was founded in 1998 and is the longest running hedge fund manager in South Africa. Since inception, Peregrine Capital’s mission has been to create wealth for its clients by delivering superior risk-adjusted long-term returns through the rigorous application of its time-tested investment process. Its exceptional track record is demonstrated by Peregrine Capital’s recent achievement as South Africa’s first fund manager to reach 100x initial investment in its flagship High Growth mandate (ZAR1 million invested with Peregrine Capital in 2000 is worth ZAR100 million today).
Peregrine Capital’s investment team has spent much of the past five years building its detailed proprietary knowledge of many global businesses, spanning different sectors and geographies.
“Our investable universe has expanded rapidly over this period and our expertise across various sectors has vastly improved. Given the manner in which our offshore investable universe has increased and considering the high concentration of offshore positions we now have in our local funds, we believe that launching a standalone Global Equity Fund is a natural extension of our business,” says Jacques Conradie, CEO and Portfolio Manager at Peregrine Capital.
The goal of the Peregrine Capital Global Equity Fund is to achieve medium to long term capital growth by investing in Peregrine Capital’s best ideas across global equity markets. The fund aims to deliver industry leading returns for its investors, while assuming risk in-line with the overall equity market.
“We are confident that we can deliver a high-quality global product, that we have appetite to invest in personally, and can ultimately deliver strong investment returns for our investors over the medium to long term,” says Conradie.
“We are thrilled to have partnered with Prescient on the launch of our first UCITS fund. Their team of highly skilled and knowledgeable staff made our transition into the UCITS space effortless,” says Tania Formilan, CFO at Peregrine Capital.
“Peregrine Capital is a well-respected name within the South African asset management industry, and we are very excited to be partnering with them as they expand their fund range,” says Rob Childs, Head of Business Development at Prescient Fund Services Ireland. “The Prescient Global Funds ICAV is the fund platform of choice for investment managers looking for institutional-quality UCITS infrastructure, enabling them to focus on their clients and their performance, while benefiting from the structuring and operational expertise that Prescient offers.”
The Peregrine Capital Global Equity Fund is approved for marketing and distribution in Ireland and the UK under the UCITS passporting regulations and Temporary Permission Regime as well as South Africa where the Financial Sector Conduct Authority has approved the fund in terms of Section 65 of the Collective Investment Schemes Control Act.