“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 Partners 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 need not chase hot parts of the market as most investors who are piling into emerging markets are doing today. 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 Partners Fund is managed by Andre Cillie Capital Management (Pty) Ltd
Authorised Financial Service Provider
FSP Licence Number: 43007





Please note that due to the concentrated nature of the fund the Fountainhead Partners Fund is not authorized or regulated by the FSB in South Africa. Its is however registered and regulated by the GFSC in Guernsey. The information contained on this site is intended only to provide salient information regarding the fund 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 fund.

*Qualified investors that understand the risk inherent in a "non-diversified fund" can contact us if they would like to obtain further information.

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

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Please note that due to the concentrated nature of the fund the Fountainhead Partners Fund is not authorized or regulated by the FSB in South Africa. Its is however registered and regulated by the GFSC in Guernsey. The information contained in this email 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.

*Qualified investors that understand the risk inherent in a "non-diversified fund" can contact myself if they would like to obtain further information.

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



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