In categories: Africa Funds

GONDO VISIO METSI AFRICA FUND

The Metsi Fund is a long-only, absolute-return focused Africa ex-South Africa equity fund, targeting a low correlated source of returns to global equity markets. The fund invests globally in listed stocks, across sectors, that derive the majority of their earnings in the Africa ex-South African markets. Investment decisions are based on indepth research of company and sector fundamentals.


Investment team

The fund is managed by Phihlelo Matjekane and Sindiso Mujaji the co-portfolio manager. Phihlelo holds a BCom and Sindiso a BBusSci (Hons). Both are CFA Charterholders. They are complemented by the team, which has a combined 245 years’ experience. The investment team of 14 has a diverse skills base and cultural backgrounds. The team has qualifications in accounting, corporate finance, equity research and private equity and includes chartered accountants, mathematicians, chemical engineers and CFAs. These varying backgrounds complement each other and help avoid myopic vision when analysing companies.

Investment terms

Fund: Metsi Segregated Portfolio
Retail or qualified product: Qualified
Hurdle rate: MSCI EFM Africa ex-SA Index
Fund open: June 2009
Min investment: $100,000
Management fee: Annual management fees 1.5% lead series
Performance fee: 15% of outperformance, uncapped
Subscription: Monthly
Redemption: Three-month notice period applies, from the first business day of the month

Strategy

Our investment process is firmly rooted in fundamental analysis. Our value-driven approach is predominantly bottom-up and sector- or theme-specific. We spend a considerable amount of time ‘on the road’ towards achieving our targeted end result. Our research is not limited to only listed companies. We continuously expand our knowledge and contact base with many unlisted companies, who are either trading partners or competitors with our listed counterparts.

Strategies employed:

  • Individual long positions
  • Particular sector exposures
  • Event-driven positions – takeovers, mergers and LBOs
  • Listed debt instruments

Strategy AUM: $28 million
AUM: $28 million
Currency: US dollar
Domicile: Cayman
Inception date: June 2009

Service providers

Custodian: Standard Chartered
Administrator: Apex Group
Manco: Lions of Africa Hedge Funds SPC
Auditor: Cohen & Co.
Legal advisors: Maples & Calder

Contact details

Visio Fund Management (Pty) Ltd
92 Rivonia Road, Sandton, Johannesburg 2196

Fund manager:
Visio Capital Management (Pty) Ltd
CEO/CIO: Patrice Moyal
Portfolio managers: Phihlelo Matjekane & Sindiso Mujaji
Marketing: Craig French and Vulani Mampane

T: +27 11 245 8900
E: info@visiofund.co.za
W: www.visiofund.co.za