AG CAPITAL (PTY) LTD

Established in 2010 and operating from Cape Town, AG Capital manages a focused range of single- and multi-strategy hedge funds designed to deliver superior risk-adjusted returns across market cycles, under the regulatory framework governing South African hedge funds.
AG Capital combines institutional-grade infrastructure with specialised quantitative, flow-based, and momentum-driven expertise across its strategies. The firm is a licensed Category 2A financial services provider (FSP No. 43325).

ASSET MANAGEMENT

AG Capital Rainbow FR Retail Hedge Fund
The AG Capital Rainbow FR Retail Hedge Fund targets equity equivalent returns with less volatility than the equity market. Since inception in 2017, the portfolio manager, Richard Arnesen, has consistently outperformed the fund’s benchmark – producing double-digit returns in volatile economic climates. As of August 2026, AG Rainbow has generated an annualised return of +16.11% since inception, with assets under management of R 1.7+ billion.

AG Capital Fusion Worldwide FR Retail Fund of Hedge Funds
The AG Capital Fusion Worldwide FR Retail Fund of Hedge Funds is a South African fund of hedge funds targeting capital preservation in real terms. The fund invests across several AG Capital strategies, both local and global, and charges no fees (fees only charged in underlying funds). As of August 2026, AG Fusion has compounded at 14.74% since inception in December 2020 with a maximum cumulative drawdown of just -3.89%. Managed by Henry Biddlecombe, Fusion has assets under management of R700+ million.

AG Capital Worldwide Macro FR Retail Hedge Fund
The AG Capital Worldwide Macro FR Retail Hedge Fund aims to outperform global equities with a similar level of volatility. Managed by Joe Bassett, the fund demonstrates a slightly negative correlation to global equities, making it an effective portfolio diversifier for investors. Since inception in February 2024, the fund has generated an annualised return of +10.45%, with assets under management of R259+ million.

In addition to the above flagship funds, AG Capital has the following regulated hedge funds selection open to investors:

• Renegade Capital Global Macro Segregated Portfolio (S65 approved Cayman-domiciled fund), a global long / short strategy targeting market outperformance with a slightly negative correlation to global equities
  • AG Capital Adaptive FR Retail Hedge Fund, a South African long / short strategy targeting equity equivalent returns with considerably less volatility.