1995: Capricorn Capital founded in SA with a focus on private equity
November 16, 1995
Capricorn Capital was founded in South Africa in 1995 as an independent, family-owned private equity and fund management business.Read more
2003: Capricorn Fund Managers established with the launch of the Stable Hedge fund (SA long/short) seeded by Hollard
November 16, 2003
2008: London office opened and Emerging Market Fund launched*
November 16, 2008
As the business grew, so did our footprint. 2008 saw the establishment of our London office and the launch of our Cayman Island-domiciled equity long/short global emerging markets fund, the Capricorn GEM Fund. This strategy was adopted on the SocGen Lyxor (www.lyxor.com) managed accounts platform as a UCITS in 2014. In 2016 SEB included the strategy in a multi-fund product.Read more
2012: Capricorn Market Neutral Fund launches
November 16, 2012
In June 2012 Capricorn launched its South African Equity Market Neutral Fund that uses multiple investment methodologies to construct a portfolio.Read more
2012: Capricorn Performer Fund launched*
November 17, 2012
In August 2012 we launched the Capricorn Performer fund, a South African long/short fund that offers equity type returns with lower volatility than the market by employing more aggressive risk exposure.Read more
2014: Launched the emerging markets strategy on the Lyxor managed account platform and Ucits umbrella*
November 16, 2014
In November 2014 Lyxor launched the Capricorn emerging markets strategy on its managed accounts and UCITS platforms. It is a pari passu version of the Capricorn GEM Fund launched in 2008.Read more
2015: Sanlam Select Flexible Fund launched
November 16, 2015
In 2015 the Sanlam Select Flexible Equity Fund, a long only collective investment scheme, saw us enter the world of unit trusts. Capricorn Fund Managers (Pty) Ltd is the manager of these products.Read more
2016: Anchor Capital acquires a stake in Capricorn Fund Manager
October 1, 2016
2016: Funds launched on Sanlam platform
December 9, 2016
In 2016 the following funds were launched:
- Capricorn Sanlam Collective Investments Equity Fund
- Capricorn Sanlam Collective Investments Balanced Fund
*Funds marked with an asterisk are not licensed by the Financial Services Board of South Africa.
In less than two decades we have grown into an experienced team across the globe. We are a leading emerging market boutique equity manager investing across the risk spectrum to deliver enhanced returns to our investors.
With a 13-year track record, Capricorn has become a “go-to” emerging markets specialist without losing its core values, independence and the performance standards that have defined our development over the past two decades.
As an independent business, we have always prided ourselves on the quality of our operational team, thanks in part to our position within the Capricorn Group and close relationship with the Private Equity team.
Our diverse background unites fundamental and quantitative analysis with trading and international knowledge. A prime example is the way our London team helps us transpose GEM thinking onto the South African market.
We have a strong understanding of the real economy and that guides us in forming long-term relationships and partnerships built on the values that have seen us become the emerging markets specialists.
Added to our unique values and investment approach is our position within the broader Capricorn Group, and a unique partnership with leading South African firm Anchor Capital. This structural framework means we are ideally placed to deliver the results our investors demand.
Our extensive experience both in South Africa and abroad has helped us uncover transformative companies with positive underlying business momentum.
We look for companies that leverage sustainable business models and offer a clear competitive advantage primed for continued growth over the next three to five years.
If the companies are located at the right point within the broader macro-economic cycle, and share our ambition to disrupt the status quo, we back them to unlock significant value for shareholders.
This methodology allows us to operate in emerging markets in a similar fashion, although we do adjust our approach based on local knowledge and market nuances.
The Capricorn risk management tool bridges the gap between quantitative tools and portfolio construction by focusing upon real fundamental risks to a portfolio, including:
- Style drift
- Aggregation of extreme valuation risk
- A build up of unintended secondary portfolio drivers
- The risk that the diversification benefits of holding different positions disappear due to over-riding market conditions
- Exposure to extreme positioning
This tool builds upon and enhances traditional quantitative measures providing a clear link into portfolio construction.
Capricorn Fund Managers Limited
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