PODCAST | Peregrine’s ride through a volatile market

A look at the SA economy from an investor’s perspective is the focus of this edition of Business Day Spotlight. Host Mudiwa Gavaza is joined by Jacques Conradie, CEO of Peregrine Capital. 

Peregrine is SA’s first hedge fund manager and has been in business for 25 years.

Conradie looks back at the economy of 2022 and how his firm’s two main funds performed against the backdrop of rising interest rates and high living costs.

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He outlines how certain investments, such as technology stocks, did well for their portfolio in 2020 and 2021, but were losers in 2022. At the same time, the firm’s bet on Thungela Resources, the coal miner that was hived off Anglo American less than two years ago, paid off handsomely for the fund manager. It was by far the best-performing stock on the JSE in 2022. 

Through the discussion, Conradie outlines Peregrine’s investment philosophy; reviews the performance of its funds in 2022; lessons from investing in Thungela; local versus international investments; and a 2023 investment outlook.