What differentiates us
- We believe all emerging markets share similar characteristics adjusted for local knowledge and nuances with South African experience as a basis
- We live and breathe emerging markets: investment team born, reared and educated in emerging markets with proven successful investment vehicles
- Team members have extensive personal experience of EM realities:
- Rapid political change amid uncertainty
- Currency volatility
- Emergence of a new middle class with demographics as key focus
- Same focused, close-knit team since inception
- Ability to leverage a diverse mix of complementary personalities, interests and skills
We believe that emerging markets share the following common traits:
- Substantial contribution from the resource sector
- Growing infrastructure/fixed capital investment expenditure
- An emerging consumer class
- Volatile stock markets
- Great political uncertainty
Building on the strengths of a well balanced team with a diverse skill set, Capricorn Fund Managers employs an investment process whereby investment ideas emanate from a multi-disciplinary analysis, principally macro, fundamental and momentum analysis.
The particular strength of the team is the combination through different individuals of a successful trading bias with a strong fundamental view, yielding alpha across different market conditions.
All investment ideas are vetted by the team as a whole, through a vigorous debate process, with the consequence that fundamental ideas have to possess favourable trading attributes, while the converse is also true – trading ideas have to have favourable fundamental attributes. This process, the team believes, yields the very best possible portfolio.