(Bloomberg) Capricorn Fund Managers has increased its investments in companies in South Africa, signaling bullishness on the country’s new leadership following Jacob Zuma’s resignation as president. The firm, which oversees $441 million in hedge fund and long-only assets from its offices in South Africa and the U.K., added to its positions in South African-based financial companies, Discovery Ltd. and FirstRand Ltd., as well as in retailers Shoprite Holdings Ltd. and Mr Price Group Ltd., according to portfolio manager David Cunio and co-Chief Investment Officer Emad Mostaque.
Capricorn Hedge Funds Boost Bets on South African Firms
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