STEYN CAPITAL MANAGEMENT

THE FIRM
Steyn Capital Management is a value-oriented investment management firm investing in publicly traded equities in South Africa, Africa ex-SA, and other frontier and emerging markets, both long/short and long only. Steyn Capital manages in excess of R17.3 billion for blue-chip local and international investors, including pension funds, multi-managers, insurance companies, US endowments, European family offices, DFMs, retail investors and the team. Steyn Capital utilises unique investment research techniques in order to generate superior risk-adjusted returns. The four most important differentiating factors are their proprietary data-screening methods, high margin of safety discipline, primary research and forensic accounting skills, and modest portfolio sizes. Steyn Capital has won HedgeNews Africa awards in 2010, 2012, 2014, 2017, 2021, 2023 and 2024 and was nominated in 2009, 2011, 2015 and 2022.

Investment strategy
Our investment process ensures that our portfolio is constructed on a bottom-up basis with only the best ideas generated through our research-intensive process included in the portfolio. Ideas are generated both via a proprietary quantitative screen, which is populated with clean accounting data by our analysts, as well as applying rigorous forensic accounting research to all earnings reports to detect obscured fundamental strength or weakness. We believe that our long book also benefits from our experience as fundamental short sellers, by avoiding “short sale” stocks on the long side. Our SA long/short equity strategy has produced annualised returns of 17% net of fees since inception (May 2009 –
August 2025), outperforming the JSE ALSI TRI by 3.4% per annum, with 25% average beta-adjusted net exposure and 135% average gross exposure.

Investment team
The investment team is led by André Steyn for the Africa ex-SA strategy and South Africa hedge and long-only strategies, James Corkin for the Global EM hedge and long-only strategies and Bernard Griesel for the Frontier strategy. Our three portfolio managers are supported by six analysts and an execution trader. Team credentials include one CFA, eight CA(SA)s, a CGMA, an Honours degree in Economics, and two Honours degrees in financial analysis & portfolio management, providing strong financial analysis and forensic accounting skills.

Company
Steyn Capital Management
Verdi House, Klein D’Aria Estate, 97 Jip de Jager Drive, Bellville, South Africa, 7530
Firm AUM: R17.3 billion (31/8/25)
Hedge fund strategy AUM: R4.3 billion
Domicile: South Africa
Inception date: May 2009
Contact: Sibo Khumalo
Phone: +27 21 001 4682
Email: sibo@steyncapitalmanagement.com
Website: www.steyncapitalmanagement.com