At Rozendal Partners we value the partnership between our firm and our investors, and by means of meaningful co-investment in our funds and the unique structure of our performance fees, our incentives are closely aligned with our investors. This ensures a steadfast commitment to long-term investment excellence, with the ultimate objective of compounding capital at high rates for long periods with prudent levels of risk.
The Rozendal story
Our business was founded by Wilhelm Hertzog and Paul Whitburn. Wilhelm is a Chartered Accountant and CFA charter-holder. Paul obtained an honours degree in Finance and Portfolio Management and completed an executive programme in Value Investing at Columbia University. Wilhelm and Paul co-manage the Rozendal funds. They are seasoned portfolio managers with extensive experience in the South African and global equity markets.
Madeleine Walsh heads up operations and SJ du Preez recently joined to broaden our reach among investors. Monique Paulse works alongside Madeleine on the operational side of our firm and Jenna Bruton supports Paul and Wilhelm as a quantitative analyst.
Investment philosophy
At Rozendal Partners we employ a disciplined, valuation-based investment process to identify compelling South African and global opportunities, predominantly in equity markets. We have created an environment conducive to long-term thinking, with few emotional distractions and appropriate incentives. This allows us to benefit from mispricings in markets when others find it difficult to do so.
Trust the process
Our investment ideas stem from staying attuned to market developments, extensive reading, engagement with other investors we respect and maintaining a somewhat contrarian mindset. In our continuous search for opportunities, we are attracted to areas of markets where long-term mispricing is most likely: areas of short-term neglect, complexity, uncertainty or negativity are often where we find our best ideas.
Conversely, areas of hype, euphoria, cyclical booms and ebullient narratives are where we will most likely find assets to avoid, or sell short.
We employ a thorough research process, with investment ideas subjected to documented due diligence before being included in our carefully curated approved list. Portfolio management follows a multi-counsellor approach, as this gives every portfolio manager the freedom to implement their best investment view and provides for individual accountability, giving investors our firm’s overall best investment view irrespective of the fund in which they are invested.
Funds and mandates
The Rozendal Worldwide Flexible Prescient QI Hedge Fund provides investors who wish to achieve optimal Rand returns with our best investment view, across local and global assets, in a single fund.
The Hedge Fund is benchmarked to the South African equity market and accounts for the largest percentage of our firm’s assets under management. The Rozendal Global Fund – denominated in US dollar, as well as a Rand-denominated feeder version for investors looking to invest globally in Rands – is a long-only fund suitable for investors looking for optimal US dollar returns.
Both our funds are managed under flexible mandates, are predominantly equity-focused and aim to capitalise on investment opportunities across all asset classes and sectors. The Hedge Fund has the flexibility to employ strategies not available in a long-only fund.
We also manage a Global Unconstrained Mandate on a segregated account basis. This mandate has the same flexibility as our Hedge Fund but is managed to a global US dollar benchmark.
Fund returns
The Hedge Fund has delivered compounded annual returns of about 13% since its inception in 2018. This is slightly less than the fund’s benchmark, the FTSE/JSE All Share Index, mainly due to limited exposure to the precious metals sector of the JSE in recent times.
The Hedge Fund’s global exposure is held via a zero-fee investment in the Rozendal Global Fund. The Rozendal Global Fund has delivered investment returns ahead of global equity markets since its inception in January 2020.
Contact information:
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- For more information, you can contact:
- Telephone: 021 286 6716
- Email: info@rozendal.com
- Website: www.rozendal.com
Collective Investment Schemes in Securities (CIS) should be considered as medium-to-long-term investments. The value may go up as well as down and past performance is not necessarily a guide to future performance. CISs are traded at the ruling price and can engage in scrip lending and borrowing. A schedule of fees, charges and maximum commissions is available on request from the Manager. A CIS may be closed to new investors in order for it to be managed more efficiently in accordance with its mandate. Performance has been calculated using net NAV to NAV numbers with income reinvested. There is no guarantee in respect of capital or returns in a portfolio.
Prescient Management Company (RF) (Pty) Ltd is registered and approved under the Collective Investment Schemes Control Act (No.45 of 2002). For any additional information such as fund prices, fees, brochures, minimum disclosure documents and application forms please go to www.prescient.co.za. The Rozendal Global Fund is registered and approved under section 65. A Feeder Fund is a portfolio that invests in a single portfolio of a collective investment scheme which levies its own charges, and which could result in a higher fee structure for the feeder fund. Rozendal Partners is a licenced Financial Services Provider, FSP No: 48271.
