In the News

Former Capitec CEO Gerrie Fourie tells Jacques Conradie, on Peregrine Capital's Building Conviction podcast, the story behind one of the JSE's greatest ever compounding stories.

Can you make 24? Grade 4 – 6 maths champions from 300+ schools compete in the Peregrine Capital 24SumMore national final in Johannesburg on 29 October 2026.

Ask most people what a financial advisor does and you get some version of the same answer: they pick investments. That is the visible part of the job, in the way that a prescription is the visible part of what a doctor does. The value sits in everything that happens before it.

Writing for Moneyweb, Anne Holding, an investment specialist at Peregrine Capital, sets out the roles a good advisor takes on across an investor's life. Specialist, demystifier, coach, therapist, architect. She also explains why much of that work leaves nothing to point to, because its purpose was prevention.

"Technical competence is the entry ticket, not the differentiator." That line, from Tania Formilan, CFO and COO at Peregrine Capital, is a fair test for anyone building a career in this industry. At a senior level, everyone can do the numbers. What separates people is lateral thinking, judgement, integrity, and the ability to build genuine trust with clients and colleagues.

Tania qualified as a CA(SA) in 2000 and joined Peregrine more than 25 years ago, moving from a finance role into operational leadership as the business grew. In that time she has watched South African hedge funds shift from a largely unregulated corner of the market, viewed with scepticism by the broader investment community, to a regulated part of the collective investment landscape, held to the same standards of governance, transparency and risk management as any other asset manager.

On what matters most: never lose sight of the fact that people, not processes, get things done. Companies succeed when their people do. Her full interview appears in the Women in Hedge Funds II special report, published by HedgeNews Africa.

Our thanks to HedgeNews Africa and Tania Formilan.

Peregrine Capital marks one year with the Rugby Centurions Foundation, celebrating 100x hedge fund returns and shared values of resilience, discipline and long-term performance.

Peregrine Capital CEO, Jacques Conradie, joins Stephen Grootes on The Money Show (702/CapeTalk) to discuss the highlights of our Semi-Annual Investor Letter - from our Meta and Tencent positions to the risk rising oil prices pose for markets.

The top 1% of South African financial advisors are not better qualified than their peers. They do not have access to better products or better markets. In most cases, their professional training is identical. What separates them, after a decade of conversations with thousands of advisors, is simpler than most expect: they never stop asking why.

In his latest piece published on Moneyweb today, Alan Yates, our Head of Distribution, draws a direct line between the intellectual curiosity of the world's great investors, Buffett, Munger, Paul Tudor Jones, and the advisors whose clients are best served over time.

On World Maths Day, Peregrine Capital expands its CSI programme aimed at building confidence, capability and a love of maths to 300+ schools across South Africa.

In 2025, the investment team drew fully on this experience to navigate an exceptionally volatile global environment shaped by profound geopolitical shifts and rapid technological change.

David Fraser joined Simon Brown on MoneywebNOW to discuss why the outlook for South African investors may be entering one of its most promising periods in years, and what this could mean for portfolios going forward.

In Sandton, learners mixed strategy, speed, and creativity to become winners of the maths competition. The event capped off a pilot programme involving 54 primary schools across Gauteng, all united by one goal: to make maths enjoyable, engaging, and confidence-building for learners.

On Friday, 31 October, Peregrine Capital hosted 24 talented finalists from 18 Gauteng primary schools. The event formed part of a pilot programme aimed at making maths exciting, engaging, and confidence-building for young learners.

Reaching 100 is a defining milestone that resonates universally, whether in sport, life, or investment. It's a mark of dedication, excellence, and lasting impact, making it the perfect representation of success. Whether it’s achieving 100 international rugby test caps, living 100 years, or delivering 100-fold returns in investments, these milestones embody an unwavering commitment to performance – the perfect synergy for an exciting new partnership.

In this MoneyMarketing article, our CEO discussed Peregrine Capital’s 2024 fund performance - despite the unpredictability of global and local markets – and what the team will be looking out for in 2025.

In this Moneyweb article, Alan Yates compares craftsmanship to hedge fund management, highlighting the value of patience, expertise and a long-term perspective in both.

Our CEO and Portfolio Manager, Jacques Conradie, joins Michael Avery on Classic Business to discuss key insights from our recently published Investor Letter.

In an interview with Moneyweb's Simon Brown, David discussed the upcoming year, examining the risks and opportunities as global market valuations remain high.

Note: Please listen from 12:20m to hear David’s interview.

In the ever-evolving world of financial markets, where trends shift like tides and uncertainties loom like storm clouds, a steadfast approach to investment can make all the difference. Peregrine Capital distinguishes itself with an investment philosophy anchored in a fundamental, bottom-up, valuation-focused approach. This unchanged philosophy has served as our compass for the last 26 years, guiding us through the complexities of the market while ensuring we remain true to our mission: creating real wealth for our clients.

For the September issue of MoneyMarketing SA, Sandy Welch interviewed Justin Cousins about Peregrine Capital’s outlook for the remainder of the year. Justin shared his views on the current mood among businesses and clients in South Africa, how the upcoming US election might impact South Africa and the global economy, and how our investment strategies can be adapted to economic trends.

In this Moneyweb interview, Justin Cousins, Executive Director & Portfolio Manager, discusses the strategies behind our consisten performance and explains why Peregrine Capital is bullish about SA Inc.

Our CEO, Jacques Conradie, recently spoke to Business Day's Mudiwa Gavaza about our investment strategy leading up to elections; reviews the performance of our funds in the first half of 2024; trends in global technology; local versus international investments; and the outlook for the rest of the year.

In an interview with Moneyweb's Simon Brown, Our CEO, Jacques Conradie, discusses the potential in the South African economy and JSE valuations following an ANC-DA coalition, emphasising opportunities in small and mid-cap stocks with resilient management. He highlights the positive outlook for South African consumers due to potential rate cuts, reduced load shedding, and improved confidence.

Michael Avery of Classic FM, is joined by our CEO, Jacques Conradie, to discuss the Semi-Annual Investor Letter we sent earlier this week, which reviews our investment performance for the year's first half.

Listen to the discussion as they dive into the impact of the elections and the newly formed GNU, the strategic use of hedge fund tools during volatile times, and our outlook for the next 6 months on both local and global markets.

Our CEO, Jacques Conradie, spoke to Jimmy Moyaha on the SAFM Market Update show on how markets performed in June, excitement around the GNU cabinet announcement, where Peregrine Capital is finding value and our expectations for the second half of 2024.

Peregrine Capital is optimistic about SA equities, increasing exposure despite recent challenges. Investment Analyst, AJ Snyman highlights improvements in Eskom and Transnet, suggesting load shedding will lessen by 2025. This contrarian view sees undervalued local shares as a key opportunity.

Our founder, David Fraser, has an oft used saying, “If you avoid the landmines, you start the year up 6%”. This is a simple way of expressing a powerful tenant of active investing. Our experience is that the best foundation for exceptional long-term performance is an absence of material losers.

In this Moneyweb interview, Jacques Conradie, the CEO of Peregrine shared his views on why South Africa offers plenty of opportunities in a challenging time. He spoke about fixing state-owned companies being one of the three main themes likely to dominate in 2024, along with interest rate cuts and elections.

In an interview with BizNews' Alec Hogg, Jacques discussed the fund results achieved in 2023 and shared what the team intends to do in order to repeat our performance in the current 12 months.

Jacques Conradie spoke to Dawn Ridler of Classic Business on the year that has been, some of the investment ideas that generated returns for our investors as well as the learnings that will be applied to future investment decisions.

In the latest in a series of interviews with industry veterans, Citywire’s Stephen Cranston talks to Peregrine Capital Executive Chairman David Fraser.

In studio with Moneyweb’s Ryk van Niekerk, Peregrine Capital’s Jacques Conradie considers the role of emotion in investment decisions.

Some clients regularly question how we can continue to invest in JSE-listed shares with material exposure to the crumbling SA economy amid load-shedding. To answer this question, our Investment Analyst, Nathi Msimango, takes us through the reasons why Eskom is failing, and what has changed that makes us say there might be light at the end of the tunnel (pun intended).

In this Moneyweb interview, our Head of Distribution , Alan Yates, discusses whether hedge funds have a role to play in post retirement investing.

Our CEO, Jacques Conradie joins Michael Avery, from Fine Music Radio, for an interview that unpacks Peregrine Capital's 25 year history as a leading Hedge Fund Manager.

In an Interview with Moneyweb's Simon Brown, Peregrine Capital CEO Jacques Conradie looks back on what has helped his team evolve and continue improving over time.

Alec Hogg of BizNews, interviews Founder and Chairman, David Fraser, and CEO Jacques Conradie on the 25 year success story of Peregrine Capital. They share insights into their investment philosophy and strategies, emphasising the importance of backing strong franchises and conducting thorough fundamental research.

MoneyMarketing spoke to Jacques Conradie: Chief Executive Officer and Portfolio Manager at Peregrine Capital to uncover the secrets to the company’s success.

In this Moneyweb interview, David Fraser, our Executive Chairman and co-founder, discussed 25 years of incredible performance, lessons learned and what he is excited about for the next 25 years.

David Fraser and Jacques Conradie were interviewed by Gwyneth Roberts for the Q1 2023 issue of HedgeNews Africa. They discussed their views on the current market conditions, gave an overview of our fund performance and shared how we plan to continue our 25-year performance track record.

Justin Cousins, Executive Director and Portfolio Manager, shared his views on how Peregrine Capital is leveraging hedge funds to deliver alpha in the prevailing market conditions in this Business Day Asset Management feature.

Hedge fund manager Jacques Conradie reflects on the importance of being 'willing to swim upstream', Patrick Cairns writes.

Hedge funds offer advantages that shouldn't be overlooked in a well-balanced portfolio, especially in an environment where traditional investment approaches struggle to generate strong returns. Established South African hedge funds with long track records are managed by experienced professionals who employ various strategies to generate positive returns regardless of market conditions. Investing in hedge funds has become more mainstream globally as they provide consistent long-term performance, lower volatility, and risk reduction compared to traditional asset classes, offering investors a valuable alternative.

Jacques Conradie wrote an opinion piece for BizNews, summarising the highlights and lessons from our 2022 Investor Letter.

David Fraser spoke to Moneyweb's Simon Brown about Peregrine Capital’s decision to exit Thungela Resources and why OUTsurance remains a position in our fund at this time.

Jacques Conradie had a discussion with Mudiwa Gavaza about Peregrine Capital’s investment philosophy, the performance of our funds in 2022, learnings from investing in Thungela, local versus international investments, and his 2023 investment outlook.

Justin discusses why hedge funds should be part of your investment portfolio using the example of Naspers to demonstrate how we are able to extract value from an opportunity without having to take a directional view on the underlying company.

Our Chairman, David Fraser, recently participated in an Asset TV South Africa Outlook 2023 panel discussion. Together with Cy Jacobs and Murray Winckler, David discussed Peregrine Capital's wins and learnings from 2022.

Peregrine Capital CEO Jacques Conradie talks about how a student game and his father’s trust in his abilities helped him pick a career in investments, and what guides his thinking now on Be A #BetterInvestor with Ryk Van Niekerk.

Jacques Conradie, uitvoerende hoof van Peregrine Capital gesels oor sy agtergrond, sy loopbaan en wat hy doen om te ontspan.

Our investment Analysts, AJ Snyman, shared his views on this issue of the FinancialMail Investor Monthy.

Our Executive Chairman, David Fraser participated in a discussion on Asset TV South Africa about creating a 'cheat sheet' for investing in Alternative Investments.

Portfolio Manager at Peegrine Capital, Matthew Thomson, was interviewed for an article in Financial Mail Investor’s Monthly, where he discussed how Hedge Funds are ideally positioned to protect against the downside.

Jacques discussed how hedge funds offer investors higher returns and lower drawdowns than traditional long-only portfolios and how hedge funds should appeal more to conservative, risk-averse investors than conventional unit trusts.

Jacques discussed how to find winners where the market isn’t looking for superior returns. Often people think that investing is about picking the most exciting, sexy shares, but in Jacques’ view, it’s about finding companies that are the most mispriced, where you get the most for what you pay – the Thungela success story is an example of this. Even though it negatively correlated with the rest of the Peregrine Capital portfolio, it protected the funds when the market was down.

Our CEO, Jacques Conradie, was invited to share his views about SA markets over the past 6 months on CNBC Africa’s Closing Bell show on Friday last week.

Our Portfolio Manager & Executive Director Justin Cousins has written an article for MoneyMarketing SA about why #hedgefunds should be a part of your investment portfolio

Yesterday evening, Portfolio Manager Matthew Thomson CA(SA) CFA was interviewed by Tania Habimana for the CNBC Africa Closing Bell show regarding our performance over the past quarter.

Jacques Conradie, Chief Executive Officer & Portfolio Manager, Peregrine Capital gives insight into the company's journey since its inception in 1998, how they differentiate themselves from others in the hedge fund industry and where opportunities are being found in the current market.

The world continues to navigate a period in modern history where “black swan” events seem to recur with unprecedented frequency. Brexit, COVID-19, the war in Ukraine and the threat of runaway inflation have all occurred in short succession, stoking fear, anxiety, and a general sense of uncertainty.

Peregrine Capital (Pty) Ltd (Peregrine Capital) announced today that it will start marketing its Peregrine Capital Global Equity Fund, following its launch 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.

Johannesburg-based Peregrine Capital went live with its global long-only fund in November 2020, in response to investor demand, having expanded its investible universe into attractive offshore opportunities over the past five years. The Peregrine Capital Global Equity Fund is currently available offshore in US dollars. The rand-based feeder fund will be available in the near future, with access via the major South African platforms as part of the strategy.

Citywire South Africa's new podcast, hosted by Lindsay Williams, asks Peregrine's Jacques Conradie about the performance of hedge funds in the current environment.

Three local boutique managers talk about the strategies that they are thinking about given the current market volatility. Published on Citiwire

Three boutique asset managers were put in the hot seat during this fantastic debate between Peregrine Capital’s CEO, Jacques Conradie, Iain Power from Truffle Asset Management and Robert Oellermann from Tantalum Capital.

How do you accurately value the big tech growth stocks that are driving market returns, given their dominance on one hand, and the significant risks they face on the other? Published on Citiwire.

Join our MD, Jacques Conradie and The Collaborative Exchange founder Kevin Hinton, as they discuss how hedge funds during Covid-19 have performed, and what we expect markets to do as the world digests the longer-term effects of the global Coronavirus pandemic.

In this presentation, Peregrine Capital MD Jacques Conradie addresses the three most important things to bear in mind when selecting a fund for your portfolio. The first is returns the fund provides, the second is how the fund manages risk and downside during difficult times, and the third is how that fund improves a client’s overall portfolio. He then covers what the firm has done since the onset of the Covid-19 pandemic in terms of ensuring that their clients still continue to enjoy positive returns.

Peregrine Capital is the oldest hedge fund manager in South Africa. David Fraser and Jacques Conradie talk about their business philosophy, and how it has served the firm over its 20 years in the hedge fund industry.