
between where
your money is now
and the number
in your head
where your money is now
and the number in your head
spread your money, diversify, earn good returns
A 30% market correction, needs a 43% recovery just to get back to where it was, before compounding can carry on.

- A benefit
Compounding arithmetic
Growth on growth
- A DECISION
A compounding policy
reinvesting returns, which a reset or interruption can still undo.
- an engine
A compounding property
built into the strategy itself, into how wins and losses continue to arrive, on a path that keeps working long enough to accelerate wealth.
When the outcome cannot be predicted, the payoff shape itself, does the work.
It is what fuels venture capital, and holding it at scale has been elusive in asset management.



































































































Loss cap
Open upside
An engine keeps producing because of how it is built, not because someone keeps making good decisions. The compounding property that makes that possible has a name. Convexity.
We are not distinguishing between compounding and not compounding. We are distinguishing between receiving compounded returns and making the preservation of a compounding engine the strategic objective.

Too many families work, save and invest for a lifetime and still fall short. Not for lack of returns, but because the path broke before compounding could finish.
Take it in whatever order suits you. Request the monthly report, read the fact sheet, carry out your due diligence, or book a conversation with the team. Nothing to sign, at any point.
Key terms for regulated allocators
The facts an allocator checks first, in one place. The full detail is set out in the due diligence pack.
- < 10%Satellite allocation of an existing portfolio
- 3 years +Horizon
- 24 hoursNotice. No redemption fee, at any time
- Own nameSegregated account at Investec Bank Limited
Not suited for
- Capital needed within three years.
- Anyone who could not hold the declared fall.
- Anyone who would withdraw during a flat stretch.
- Licence
- FX212 (Pty) Ltd, juristic representative of CAEP Asset Managers (Pty) Ltd (FSP 33933), Category IIA
- Strategy
- Systematic macro. G10 currencies and gold, long and short
- Portfolio manager
- Clinton Suchard
- Vehicle
- Segregated account in the investor's own name
- Custodian and execution
- Investec Bank Limited. Execution through IG Markets
- Auditor
- J Segel & Associates
- Borrowing
- None. Positions are margined and total notional exposure can exceed account capital
- Risk per position
- 2.5% of capital as standard, sized before the position opens. May vary per mandate by agreement
- Capacity
- A ceiling exists and no number is published. An allocation is accepted only when capacity exists, so acceptance is the confirmation
- Portfolio role
- Satellite allocation of less than 10% of an existing portfolio
- Horizon
- Three years or longer
- Funded from
- Private capital: surplus cash or the proceeds of a liquidity event. Institutional capital: an alternatives or absolute-return allocation
- Minimum
- On request
- Fees
- Retail terms: 1.5% p.a. management. 20% of the return above a floating SOFR hurdle, on a permanent high-water mark. Total Investment Charge 1.8% to 2.3% a year. Allocator fees are subject to volume discounts, agreed separately
- Liquidity and redemptions
- 24 hours' notice. No redemption fee, at any time
- Reporting
- Monthly, with broker statement in the investor's own name. Four conditions published and monitored
- Reference points
- Cash reference SOFR. No equity benchmark is used
- Test period, pre-live
- January 2020 to December 2024
- Live record
- From 1 October 2025
Results from January 2020 to December 2024 come from the test period, before the strategy went live, and are not a live track record. Live results run from 1 October 2025 and are published, dated, in the Returns Produced Fact Sheet. Past performance is not a reliable indicator of future results.

