 Desert Lion Capital Q1 2024 Investor Letter

May 22, 2024 8:15 AM ET
CLMHF
Fund Letters
14.75K Followers
Summary
Desert Lion Capital is managed by Rudi van Niekerk who is a South African citizen. Due to a growing interest from US and other international investors, Desert Lion Capital was launched to meet the needs of non-South African investors.
Desert Lion’s Fund returned approximately +4.4% net for the month of April and year-to-date.
We are in earnings season and the recent results released by Calgro highlight the compelling opportunities in our portfolio and our universe.
South Africa will hold its general elections on May 29th this year and currently there is a lot of waiting and doing nothing going on in the market.
Dear Partners and Friends,
Desert Lion’s Fund returned approximately +4.4% net for the month of April and year-to-date. This 2024 performance is +8.4% better than the -4.0% decline of the JSE All Share Index (J203) so far in 2024.
We are in earnings season and the recent results released by Calgro highlight the compelling opportunities in our portfolio and our universe. I previously discussed Calgro in our July 2023 letter, after we established a position earlier in 2023.
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Desert Lion Capital Q1 2024 Investor Letter

Desert Lion Capital, managed by Rudi van Niekerk, returned approximately +4.4% net for April and +8.4% year-to-date in 2024, outperforming the JSE All Share Index. Calgro M3, a company in their portfolio, showcased compelling opportunities during earnings season.