TBI is a South African alternative investment and fund management group holding company, with a history of superior returns. The business consists of a number of direct investments in fund management and related associates (Awande Private Equity Managers, Bridge Capital and Ora Fund Managers), and three portfolios which invest in:
The investment objective is to create sustainable growth in shareholder value, using its long-term capital to make investments with a long term view. Despite the focus on long-term returns, investors are offered liquidity on an annual basis.
TBI is managed by our executive directors and our appointed co-investment manager, Ora.
We aim to offer superior returns over the long-term by investing in good quality businesses at attractive prices and retaining these investments over the long-term. We have a flexible investment mandate and operate primarily in South Africa. Our investment strategy follows an unconstrained approach, subject to our investment limits and guidelines.
Investment decisions are made on a case by case basis, depending on circumstances prevailing at the time and as opportunities are presented. There is no fixed holding period for investments. Holdings are assessed on a continuous basis, based on the relative attractiveness of the investments compared to the market and other available opportunities. We invest mainly in the South African markets.
The investment objective is to create sustainable long term growth in shareholders' value. The investment target return is to produce a total return on investments that exceeds the Consumer Price Index plus 10% per annum, managed over a rolling five-year investment horizon, subject to long-term JSE trends.
We may invest in equity shares of companies listed on the JSE or any other stock exchange, equity shares in unlisted public or private companies, listed or unlisted bonds and property investments, derivative investments, alternative investments and liquid investments. Issuers may be domiciled within or outside of South Africa, but investments shall be subject to applicable regulatory approvals.
Derivatives may be utilised for effective portfolio and risk management. We do not consider uncovered options.
Should circumstances warrant, borrowing may be employed in line with our gearing limits. These gearing limits apply to all our portfolios and are provided by the Board as a mandate to the Investment Committee.
TBI's liquidity is monitored on an on-going basis. Where funds in excess of free cash are required for investment purposes, cash may be raised by issuing new shares, selling less attractive investments or by raising debt financing. In the absence of attractive investment opportunities, capital may be invested in liquid investments or returned to shareholders. The objective is to ensure sufficient liquidity for us to meet cash flow requirements.
Liquidity may include investments in liquid assets (cash at bank, money market instruments, bonds and notes), listed preference shares, collective investments schemes and unutilised bank facilities.
Telephone – +27 (0)21 948 0322
Fax – +27 (0)21 948 0329
Email – firstname.lastname@example.org
GPS – 33°52’21.22″S 18°38’06.21″E
Willie van Schoor Avenue
PO Box 21168