Investor Communications

Peregrine Capital’s October 2026 Newsletter: our Q3 2026 hedge fund review, offshore USD funds now open to retail investors, podcasts and market insights.

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.

Welcome to the latest edition of Peregrine Capital’s newsletter, where we share our views and news about our business, our funds, and why hedge funds should form part of a growing and diversified investment portfolio.

In this Annual Investor Letter, we reflect on the market forces that shaped performance, the opportunities we captured, and how we are positioning portfolios to continue delivering consistent, resilient returns in an increasingly complex global environment.

If you have been invited to a suspicious Telegram group, please exercise caution; you might be a potential scam target! Peregrine Capital communicates only through official channels: direct email, our website, and our LinkedIn, Facebook and Instagram pages. We do not offer investment opportunities or communicate via Telegram groups.

Welcome to the latest edition of Peregrine Capital’s newsletter, where we share our views and news about our business, our funds, and why hedge funds should form part of a growing and diversified investment portfolio.

It was a pleasure for us to host you as our investment team, David Fraser (Chairman & Portfolio Manager) and Jacques Conradie (CEO & Portfolio Manager) unpacked our funds' performance, current market dynamics, and the themes shaping our outlooking in the short to medium term.

A special thank you to Bronson Friedman CFP® from Legacy Family Wealth and Ryan Smith from RLS Financial Services for joining our panel discussion. Your shared experiences of investing with Peregrine Capital added valuable perspective and depth to the conversation.

We are pleased to share with you our Semi-Annual Investor Letter, a chance to reflect on the year thus far and provide an update on Peregrine Capital’s fund performance.

If you're a financial advisor focused on asset allocation and investment management, come and meet our team at this year’s Meet The Managers event, taking place on 10 June (JHB) and 12 June (CT).

Registrations are now open: www.meetthemanagers.co.za

Known as the ‘Ted Talk of Investment Management’ this event features concise, impactful presentations from South Africa’s top asset managers. The agenda offers insights across a range of topics, helping advisors to accrue maximum CPD points in the shortest amount of time.

Welcome to the 7th edition of The Hundred Times, Peregrine Capital’s bi-annual newsletter. This edition shares insights into our business and funds, reaffirming why hedge funds remain integral to a growing and diversified investment portfolio.

Watch the opening address by Jacques Conradie, CEO & Portfolio Manager at Peregrine Capital's Investor Day 2025.

2024 was a productive year for the Peregrine Capital funds, with our High Growth and Pure Hedge funds delivering 22.0% and 15.8% net returns, respectively. This performance, one of our strongest in the past decade, is particularly gratifying given the challenges of navigating significant macroeconomic events, including the South African and US elections.

Welcome to the latest edition of Peregrine Capital’s newsletter, where we share our views and news about our business, our funds, and why hedge funds should form part of a growing and diversified investment portfolio.

It is with great pleasure that we present to you our 2024 Semi-Annual Investor Letter. In this edition, we discuss our portfolio performance and key market insights of the year so far.

Welcome to the fifth edition of Hundred Times, Peregrine Capital’s bi-annual newsletter. This edition shares insights into our business and funds, reaffirming why hedge funds remain integral to a growing and diversified investment portfolio.

Read the annual Investor letter to find out more about Peregrine Capital’s 2023 fund performance for its two flagship funds, with the High Growth Fund and Pure Hedge Fund achieving impressive net returns of 14.7% and 12.5%*, respectively. The fund returns continue to have a low correlation with peers and the overall market, due to their unique portfolio construction and identification of opportunities that are not simply linked with the overall index.

If you have been invited to a suspicious Telegram group, please exercise caution; you might be a potential scam target! Numerous scams falsely claim to be associated with various investment companies, including Peregrine Capital.

We value your trust and want to ensure you are well-informed and protected from fraudulent activities. Therefore, we communicate only formally through direct channels (email), our website, and Peregrine Capital’s social platforms (LinkedIn and Facebook).

Welcome to the fourth edition of Peregrine Capital’s newsletter where we share our views and news about our business, our funds, and why hedge funds should form part of a growing and diversified investment portfolio.

Despite the challenging macro-economic conditions experienced, we are pleased to share that our High Growth Fund has delivered a net return of 6.9% for the first half of 2023, while the Pure Hedge Fund delivered 5.5%.

Welcome to the third edition of The Bird’s Eye, Peregrine Capital’s bi-annual newsletter where we share our views and news about our business, our funds, and why hedge funds should form part of a growing and diversified investment portfolio. In addition, we will share our perspective of the first quarter of 2023, following on from our review of 2022 which we shared with you in January in our annual 2022 Investor Letter.

Both our flagship funds were up double digits for 2022, with the High Growth Fund ending up 11.5% and the Pure Hedge Fund ending up 12.9% (net of all fees and expenses). Our process and investment philosophy delivered as we had planned for in 2022, leading to capital growth and outperformance in a very difficult economic and market environment.

Welcome to the second edition of The Bird’s Eye, Peregrine Capital’s bi-annual newsletter where we share our views and news about our business, our funds, and why hedge funds should form part of a growing and diversified investment portfolio. In addition, we will share our perspective on quarter 3 of 2022, following on from our review of the first 6 months of the year which we shared in our Semi-Annual Investor Letter that was sent in July.

We are pleased to have rapidly returned to historic levels of outperformance over the past six months. The portfolios are well positioned for the challenging times that lie ahead, and our team is excited by the prospect of opportunities that inevitably emerge during bear markets. We have materially outperformed our peer group over the medium and long-term. Our aim is to continue to deliver on our purpose, which is to create wealth for our clients.

Welcome to the first edition of The Bird’s Eye, Peregrine Capital’s newsletter. In this edition, we will be sharing our views and news about the business, our funds and why hedge funds should form part of a growing and diversified investment portfolio. In addition, we will share the media coverage that we have received recently, our Q1 events and upcoming event dates for you to diarise.

Our goal at Peregrine Capital is to create meaningful wealth for our clients over the medium to long term. Our flagship High Growth and Pure Hedge funds ended the year up 12.6% and 6.6% respectively, both net of fees and expenses.

2020 was a good year for the Peregrine Capital funds, with our flagship High Growth Fund and Pure Hedge Fund ending the year up 17.0% and 12.2% respectively, both net of fees and expenses. We were pleased that both funds outperformed their peers and relevant market indices by a large margin during the year, while generating significant real returns for our clients.

2019 was a solid year for the Peregrine Capital funds, with our flagship High Growth Fund and Pure Hedge Fund ending the year up 13.5% and 13.4% respectively. We were pleased that both funds outperformed their peers, and relevant market indices by a healthy margin during the year, while generating a 10% real return.

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.