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Leila Lederman From Precy Dumlao, Opalesque Asia:

Sandton, South Africa-based global provider of wealth and alternative asset management solutions Peregrine Holdings Ltd announced it would close Peregrine Portfolio Innovation Ltd., because of a series of macro drivers that led its board members to reconsider the group strategy.

In her letter to investors, Peregrine’s Managing Director Leila Lederman said that as from 31st October this year, Peregrine will no longer circulate performance updates for the various funds that Innovation represents. Instead, the underlying fund managers will be updating investors directly.

Peregrine Portfolio Innovation is a dedicated consulting business with expertise in hedge funds. It provides investment solutions for sophisticated investors, adopting a consultative approach with institutional investors and their consultants or advisors.

Peregrine’s Ruth Forssman reported in June this year that South Africa-focused hedge funds appeared to have bucked the trend of underperformance in the industry as hedge funds in the region recorded 9.6% for total equity hedge funds, 11% for long/short equity hedge funds and 2.6% for market neutral equity hedge funds during the first half of 2012 (see ......................

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