SA’s rosy Ramaphosa glow rubs off on Capricorn Fund Managers
Portfolio manager David Cunio and co-chief investment officer Emad Mostaque were interviewed by Suzy Waite
London — Capricorn Fund Managers has increased its investments in companies in SA, signalling bullishness on the country’s new leadership following Jacob Zuma’s resignation as president. The firm, which oversees $441m in hedge fund and long-only assets from its offices in SA and the UK, added to its positions in Discovery and FirstRand, as well as in retailers Shoprite and Mr Price, according to portfolio manager David Cunio and co-chief investment officer Emad Mostaque. It’s also investing in China’s Alibaba Group and military suppliers in Turkey. Cunio and Mostaque were interviewed by Suzy Waite in February. Their comments have been edited and condensed. SUZY WAITE: Tell me about your firm. DAVID CUNIO: We launched our first South African hedge fund out of a family office in 2003. It’s now called the Capricorn Sanlam collective investments stable retail hedge fund, and has had an annualised return of 14% since inception. The long-short equity fund is down 1% this year through Marc...
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