Investor Communications
Newsletter Edition 10
Peregrine Capital’s October 2026 Newsletter: our Q3 2026 hedge fund review, offshore USD funds now open to retail investors, podcasts and market insights.
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- 5 min read
- 27 October 2026

2018 has been one of Peregrine Capital’s more challenging years, with our flagship High Growth Fund down 4.1% for the year, while our Pure Hedge Fund performed better, ending up 5.1% for the year. These returns should be seen in the context of a very difficult market environment, with the JSE Capped Swix All Share Index down 10.9% and the MSCI World Index down 8.9% (in USD), the worst year for markets since the Global Financial Crisis in 2008. All of our funds have outperformed the market for the year, which is little consolation in a year when absolute returns are down.


Investor Communications
2026 Semi-Annual Investor Letter
From the US-Iran conflict to the AI capex cycle, our semi-annual letter sets out how the funds were positioned through a demanding first half, and why the market is underestimating the returns on AI investment, and where we see opportunity from here.
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