Letters, Research and Whitepapers

SaltLight SNN Worldwide Flexible Fund – Investor Letter 4Q21

by SaltLight Team
2022-02-032022-02-04

If we had to summarise our perception of the first two years of the 2020’s decade, our impulse is to go with: change and chaos.

SaltLight SNN Worldwide Flexible Fund – Investor Letter 3Q21

by SaltLight Team
2021-10-312021-10-31

Given your and our long-term focus, these short-term price moves over a month, quarter or even a year concerning our long-term investment strategy should be of little significance.

SaltLight SNN Worldwide Flexible Fund – Investor Letter 2Q21

by SaltLight Team
2021-08-022021-08-02

The second quarter of 2021 would probably rank as the most ‘reflationary’ economic environment that we’ve seen in decades.

We’ve utilised this buoyancy to reposition the portfolio outside of South Africa and into global opportunity sets that we’ve been working on over the last few years

SaltLight SNN Worldwide Flexible Fund – Investor Letter 1Q21

by SaltLight Team
2021-05-032021-05-10

Factsheet PDF version of this letter 3 May 2021 Dear Co-Investor A fairly robust performance from the SaltLight SNN Worldwide Flexible Fund during the first quarter of the year as conditions for equities were rather favourable. It is a sobering thought to admit that it… Read More »SaltLight SNN Worldwide Flexible Fund – Investor Letter 1Q21

SaltLight SNN Worldwide Flexible Fund – Investor Letter 4Q20

by SaltLight Team
2021-02-022021-05-10

Factsheet PDF version of this letter Dear Co-Investors, 2020 will mark as one of the most eventful of our lives personally but also for SaltLight. As we grow our firm, the festive period has been a wonderful time to think back on our entrepreneurial journey… Read More »SaltLight SNN Worldwide Flexible Fund – Investor Letter 4Q20

Why the SaltLight Fund Might Not Be Right For Everyone

by SaltLight Team
2020-10-302020-11-03

We’d like to caution that the SaltLight SNN Worldwide Flexible Fund may not be right for every investor. Our investment process is targeted to compounding returns over the long term and short-term returns may differ to market indices or peer returns. This is because we… Read More »Why the SaltLight Fund Might Not Be Right For Everyone

Archive 2Q 2020 Letter

by SaltLight Team
2020-08-062020-10-26

Dear Shareholder This quarter shall probably be remembered in the history books as the quarter that the world suddenly stopped. Dispersion amongst our portfolio companies was evident with a standout performance from technology investments and further declines in domestically-exposed businesses. The portfolio continues to be… Read More »Archive 2Q 2020 Letter

Archive 1Q 2020 Letter

by SaltLight Team
2020-04-212020-10-26

Breakfast, Burgers and Complexity Early in March, in what seems like a lifetime ago and days prior to South Africa’s lockdown, we took a trip down to KwaZulu-Natal Coast. A full trip to the coast usually takes around six hours and if one leaves early… Read More »Archive 1Q 2020 Letter

Archive 4Q 2019 Letter

by SaltLight Team
2020-01-192020-10-26

Build Something That’s Enduring In December 2015, I took a giant leap and apprehensively redirected the vast majority of my liquid capital to seed the second business that I had started over my lifetime – fusing the lessons learned whilst working in traditional investment banking… Read More »Archive 4Q 2019 Letter

Archive 3Q 2019 Letter

by SaltLight Team
2019-10-192020-10-26

Dear Shareholder, A reputation once broken may possibly be repaired, but the world will always keep their eyes on the spot where the crack was. – Joseph Hall During the third quarter, SaltLight Capital generated a decline in net worth per share of [redacted] vs.… Read More »Archive 3Q 2019 Letter