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Back to News Balanced FoF and Hedge Fund FoF clients concerning Steinhoff
Jan 2018

Dear Client


As already mentioned in our previous newsletters, even though all our fund of funds are properly diversified in various funds the crash of the Steinhoff share with more than 90% within a few days, contributed to the underperformance of our two South African FoF’s over the last few weeks, we do not see it as a trend but rather as a wakeup call to fund managers to be more diligent before they buy shares.


We believe that we have picked some of the best hedge funds for our South African Hedge Fund of Fund and some of the best general unit trusts for our South African Balanced FoF of which the Laurium fund is one of them, both in the case of our Hedge FoF and our Balanced FoF.


See below here the letter Laurium has sent us and the second last highlighted paragraph according to which they are still one of the top performing hedge funds in the country and their Laurium Unit Trust Fund is ranked 19’th out of 143 SA general equity unit trusts.


We have decided not to sell our underlying funds that had exposure to Steinhoff.


Friendly Greetings

Andre Delport

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