The Astoria that is currently listed on the JSE is a far cry from the Astoria that was listed by Anchor Group as an offshore investment vehicle. It was perfectly pitched for investors petrified at the plunging rand when the company listed on the JSE in October 2015.

The dual JSE-and Stock Exchange of Mauritius-listed vehicle held a pool of R1.8bn of raised capital — predominantly to invest in offshore equities...

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