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Alternative Market Briefing

South African hedge fund managers see great opportunity in African consumer theme

Wednesday, January 22, 2014

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James Faircliff
Benedicte Gravrand, Opalesque Geneva:

James Faircliff and Richard Böttger, two young South African hedge fund managers, are passionate about the stock market and about investing: you’d have to be if you started trading stocks at the age of 13 – which they did. As grown-ups, they began their professional career in private equity, and then moved into the listed space. Together they eventually formed Tower Capital in 2009.

Tower Capital a Johannesburg-based firm; it runs a long/short equity hedge fund that is mainly focused on the South African stock market. After 52 months of trading, the annualized track record stands at 22% (net) with a standard deviation of 7%.

Faircliff and Böttger believe their strategy is a perfect fit for the continent.

"Africa is the last bastion of frontier investing," Böttger tells Matthias Knab during a recent Opalesque TV interview. "Everybody seems to want a piece of it, it's very topical, and certainly our strategy provides a very liquid access point into the African success story... we have the ability to be long liquid mid-market companies, and obviously for the downside protection given that we are an equity long/short fund. We are short the very high beta big market capitalization stocks."

Long lower beta stocks, short higher beta stocks They stu......................

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