AN INTRODUCTION TO CREDITSMITH CAPITAL PARTNERS

Creditsmith Capital Partners invests primarily into unlisted credit opportunities and maintains adequate liquidity and diversification across its investments by partnering up with key players in these specialist areas to build up an investment portfolio that limits areas of concentrated risk.

The fund invests in both senior and junior debt with areas of focus on secured bridging finance, mezzanine finance and property secured lending. The fund maintains adequate liquidity and diversification across its investments through a diversified book.

Larger transactions are only undertaken with additional security requirements so as to avoid concentration risk.

The fund is focused on preserving capital growth for investors and as such tries to achieve bank‐type security for the loan allocations, i.e. mortgage bonds, personal suretyships and the like. The fund selectively seeks out opportunities to invest in assets where the return is out of line with the risk assumed ensuring risk adjusted returns for investors.

While larger banks and financial firms may take time to process an investment, Creditsmith prides itself on fast release of capital injections on a secured lending basis, while still ensuring appropriate due diligence.

Gerald Porter

CEO & Chief Investment Officer

EDUCATION

• Bachelors in Commerce in Accounting, University of the Witwatersrand
• Bachelors in Accountancy at UNISA.
• B Com Honours in Investment Management from RAU.
• Articles at Ernst & Young.
• Admitted into the South African Institute of Chartered Accountants in 1991.

RHYS MEREDITH

Senior Investment Analyst

EDUCATION

• Bachelors in Commerce majoring in Economics, University of South Africa (UNISA).
• He is continuing his studies and is currently completing his Bachelor of Accounting Science (B Compt) with majors in Auditing, Financial Accounting, Management Accounting and Tax.

EXPERIENCE

Treasury Division at Rand Merchant Bank, Johannesburg.

• Responsible for the Currency options book, both proprietary trading and market-making.
• Traded FRA’s, swaps, interest rate options and bonds on the interest rate derivates desk.

Emerging Markets trader at HSBC, London.

• Managing the entire South African Book which included both market making and prop trading.
• Rand spot, Rand forwards, Rand options, Interest rate derivatives, Government bonds and Eurobonds.

Treasurer of PSG Investment Bank, South Africa.

• Responsible for treasury budgets and targets as a MANCO member and the ALCO chairman.
• Directly responsible for managing the following divisions: Forex sales and trading, Bond sales and trading, Interest rate derivatives and money market trading.
• Managed 20 front office staff and was responsible for allocation of risk budget as well as assisted in strategic acquisitions for the bank.

Treasurer of HSBC, Sub Saharan Africa.

• EXCO and ALCO member with all the key divisions reporting to the office of the Treasurer.
• Involved with the initial setup and establishment of Treasury, including hiring staff, setting up IT systems, implementation of compliance and internal control structures, devising business plans and budgets.
• Responsible for trading and sales targets as well as ensuring the risk budget for the treasury was optimally allocated amongst divisions.

EXPERIENCE

At the beginning of his career, in 2000, Rhys spent two years overseas in the UK where he spent time in the finance departments of Old Mutual Asset Managers (UK) and Old Mutual Fund Managers (UK) where he maintained the purchase ledgers for both companies, liaised with creditors and reconciled creditor accounts, managed the cash flow of the main dealing account placing excess funds on overnight deposit, liaised with the dealing admin team regarding the creation and liquidation of units and handled daily cash-flow transfers.

In 2002, Rhys returned to South Africa and took up a role at Investec Private Bank in Johannesburg where he rose to be the dedicated accountant within the Private Client Wealth Management team whose client base consisted of high net worth individuals. He was responsible for the entire management reporting process on a monthly basis liaising with central JHB and national accounts within Private Bank, analyzed revenue streams of the investments books including lending, on and offshore unit trusts and stock portfolios, structured products, pref shares and retail treasury. By 2005 he was running the JHB Wealth Management budget process for the y/e 2005.

In 2005, Rhys completed his articles at Mazars Moores Rowland furthering his knowledge of the accounts process and sharpening his analytical skill before starting with Creditsmith where he now holds the role of Senior Investment Analyst.

DISCLAIMER

Creditsmith Capital Partners (Pty) Ltd is an authorised Category II financial services provider in terms of the Financial Advisory and Intermediary Services Act No. 37 of 2002 (“FAIS Act”) with FSP number 34712. The information contained herein, should not be construed as advice as defined in the FAIS Act, neither does it constitute a solicitation, invitation or investment recommendation. Investors should take cognisance of the fact that there are risks involved when buying, selling or investing in any financial product. The value of financial products can increase as well as decrease over time, depending on the value of the underlying securities and market conditions. Past returns may not be indicative of future returns and an investor should seek independent professional financial, legal and tax advice relevant to their individual circumstances before making any investment decision. The validity and accuracy of any illustrations, forecasts or hypothetical data are not guaranteed and are only provided for illustrative purposes.

A copy of the Creditsmith Capital Partners conflicts of interests management policy is available for viewing on request. Request can be sent to Rhys Meredith – Rhys@creditsmith.co.za