“The future is never clear, you pay a very high price for cheery consensus, uncertainty is actually the friend of the buyer of long term values”

Warren Buffett
The word partnership plays a critical and we believe differentiating role in our business. We believe very firmly in the concept of “eating our own cooking” and will at all times have the majority of our money invested in the fund. Furthermore it is a partnership between the investee companies and us
The fact that we have the whole world to choose from is an asset not a hindrance. Due to our concentrated nature we need not hold hundreds of stocks but have the flexibility to select only the very best available and are not constrained by geographical or benchmark boundaries


The Fountainhead Expert fund is in many ways old fashioned. We do not adhere to “modern portfolio theory”, do not diversify via hundreds of stocks and we most certainly do not believe the market is efficient. We benchmark ourselves to global inflation and strive for absolute real returns through time. Once you buy into this mindset you will eliminate many of the emotional issues that lead to poor returns. We exercise patience while waiting for the market to recognise the value in our stocks. If companies meet our valuation criteria and are increasing intrinsic value at an acceptable rate, we are happy to hold them forever. We fully understand the power of compounding.

The Fountainhead Expert Fund is managed by Andre Cillie Capital Management (Pty) Ltd
Authorised Financial Service Provider
FSP Licence Number: 43007





Fountainhead Expert Fund IC (the "Fund") has been established as an 'Expert Fund' as described in the Jersey Expert Fund Guide (the “Guide”) published by the Jersey Financial Services Commission (the "Commission") and is suitable only for investors who fall within the definition of an 'Expert Investor' set out in the Guide. The Fund has received a certificate from the Commission under the Collective Investment Funds (Jersey) Law, 1988 but the Commission takes no responsibility for the financial soundness of the Fund.

No person is authorised to give any information or to make any representation in connection with the issue of shares in the Fund which is not contained or referred to in the Fund’s Prospectus and, if given or made, such information or representations may not be relied upon. The distribution of the Fund’s Prospectus and the offer and sale of the shares in certain jurisdictions may be restricted by law. Please note that due to the concentrated nature of the Fund it is not authorized or regulated by the FSB in South Africa and, as such, the information contained on this website is intended only to provide salient information regarding the funds and does not constitute an offer or an invitation to any person, whether a member of the public or not, to acquire an interest in the funds.

Prospective investors should inform themselves as to the legal requirements and tax consequences within the countries of their citizenship, residence, domicile and place of business with respect to the acquisition, holding or disposal of shares in the Fund, and any foreign exchange restrictions that may be relevant thereto.

The information contained within this website relating to Fountainhead Expert Fund IC is not directed at residents of the European Union to whom marketing of the fund is prohibited pursuant to the Alternative Investment Fund Managers Directive.

Please read the downloadable Scheme Particulars to familiarize yourself with the structure and risk inherent in the fund.

Conflict of Interest Policy

Fountainhead Global Equity Partnership has a conflict of interest register which is available on request.
Contact info@fhpartners.co.za

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Fountainhead Expert Fund IC (the "Fund") has been established as an 'Expert Fund' as described in the Jersey Expert Fund Guide (the “Guide”) published by the Jersey Financial Services Commission (the "Commission") and is suitable only for investors who fall within the definition of an 'Expert Investor' set out in the Guide. The Fund has received a certificate from the Commission under the Collective Investment Funds (Jersey) Law, 1988 but the Commission takes no responsibility for the financial soundness of the Fund.

No person is authorised to give any information or to make any representation in connection with the issue of shares in the Fund which is not contained or referred to in the Fund’s Prospectus and, if given or made, such information or representations may not be relied upon. The distribution of the Fund’s Prospectus and the offer and sale of the shares in certain jurisdictions may be restricted by law. Please note that due to the concentrated nature of the Fund it is not authorized or regulated by the FSB in South Africa and, as such, the information contained on this website is intended only to provide salient information regarding the funds and does not constitute an offer or an invitation to any person, whether a member of the public or not, to acquire an interest in the funds.

Prospective investors should inform themselves as to the legal requirements and tax consequences within the countries of their citizenship, residence, domicile and place of business with respect to the acquisition, holding or disposal of shares in the Fund, and any foreign exchange restrictions that may be relevant thereto.

The information contained within this website relating to Fountainhead Expert Fund IC is not directed at residents of the European Union to whom marketing of the fund is prohibited pursuant to the Alternative Investment Fund Managers Directive.

Please read the downloadable scheme Particulars to familiarize yourself with the structure and risk inherent in the fund. Contact info@fhpartners.co.za



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