Fairfax Africa

[jfan]

Did anybody attend the hfp agm yesterday? Will they be posting up the agm video?

[wondering]

both investor day and AGM videos have been posted

[wondering]

https://www.heliosinvestment.com/helios-fairfax-partners

[This2ShallPass]

Curious if anyone has taken a look at Fairfax Africa recently. I have been selling some Fairfax this year (to keep at 30% of my pf but it keeps going up:)) and want to redeploy the cash.

 

Looks like the new guys from Helios haven't made much of an impact, 5 yr return at -50%.

[wondering]

I have been following this company.  The quick summary is that they have almost sold all the Fairfax Africa legacy investments.  They have made some new investments - example some African fintech, a Morrocan company (can't remember if it is a grocery chain or medical supply company or maybe both - I have a crap memory).  They have added more Helios funds - such Sports and Entertainment (NBA Africa)

 

I think until there is more market interest in emerging markets/Africa this investment will be in the doldrums.  Once there is greater interest, I think Helios Fairfax will make more money from the managements fees from the various Helios Funds.

 

The plus side is that Wall Street has completely lost interest in Africa, and Helios is the only major player there so they have the market to themselves.  

 

Current management appears competent and honest to me (go to the Helios Fairfax, you can watch investor presentation videos).  The problem is the lack of interest - why invest in Africa while the US dollar is riding high and there so much momentum will US tech.

[This2ShallPass]

Thanks wondering. Investing in Africa now might pay dividends 5-10 years later.

 

Do you have any thoughts on the companies they are investing in, are they high quality? Do they have any crown jewel kind of investments? I'll also do my research but wanted to get your take.

Edited December 10 by This2ShallPass

[jfan]

The crown jewel is the part ownership of helios the asset manager. 

[Xerxes]

1 hour ago, jfan said:

The crown jewel is the part ownership of helios the asset manager. 

and that is something that even Fairfax India does not have. An asset manager play for third party funds to manage.