Quarterly Update Q2 2023

We are delighted to share our investment managers’ quarterly update for the second quarter of 2023.

Quartely Update for Quarter 2 2023
Louis Antelme &
Paul Crawford

“The global bull market that started at the end of the 3rd quarter 2022 continued through the 2nd quarter of 2023 with most risk indices printing positive returns during the period…”

Quartely Update for Quarter 2 2023
Dane Merrick &
Paul Crawford

“With the exception of the FTSE 100, the majors showed a plethora of good returns with the NASDAQ taking the lead (again) amongst a domination by North American indices over their European counterparts …”

Quartely Update for Quarter 2 2023
Cor Booysen

Gold has been a key performance attributor over the quarter, and we took the opportunity to trim the sector position and fund other opportunities. We cannot completely rule out the risk of recession in the developed world, although most US print remains strong…”

Quartely Update for Quarter 2 2023
Jacobus Lacock

“We are approaching the early recession phase and prefer to allocate capital to defensive opportunities across asset classes rather than aggressively increasing cash. Overall, the US consumer is in a far better position than during the prior economic cycles which will guide the economy to a shallow and potentially short-lived recession rather than a deep prolonged downturn…”

Quartely Update for Quarter 2 2023
Rob Hart
“The second quarter proved to be challenging with continued interest rate rises in the US, concerns over the European economy, China’s disappointing reopening and low property transaction volumes globally adding opaqueness to the mix…”

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Ryan Jamieson

Ryan Jamieson

Head: Retail Sales (North & KZN)​

Ryan joined Fairtree in 2016 and is the head of Retail Sales. He has over 25 years of experience in the financial services industry. He joined Momentum in 1998, where he held various roles, such as investment marketing, sales and distribution, over 15 years. In addition, he led the national team of Investment Specialists at Momentum and served on Group Investment Committees. Ryan then joined Investec, where he continued to be involved in the sales, marketing and distribution of the Investec fund range. He returned to Momentum as head of Wealth Management, where he was responsible for the full integration of the investment philosophy, house views, fund solutions and wealth management proposition. 

Grethe Fourie

Business Development Manager

Grethe joined Fairtree in 2025 as a Business Development Manager in the Distribution team. She focuses on cultivating strong, long-term relationships with financial advisers and identifying opportunities for meaningful growth. Prior to joining Fairtree, Grethe spent eight years at PPS, where she held several leadership roles, including Regional Sales Manager, Regional Specialist Support Manager, and ultimately National Manager of PPS Wealth Advisory. In her most recent role, she led the Wealth Advisory team nationally, overseeing strategy, operations, reporting, and key stakeholder relationships. She also served as a Key Individual on the FSP licence and chaired the Best Practice Committee. Earlier in her career, she worked as a financial adviser for seven years. She is passionate about empowering women in finance and previously led the Women in Finance initiative at PPS. Grethe holds a Postgraduate Diploma in Financial Planning from Stellenbosch University and is a Certified Financial Planner® professional.

Stephan Venter

Investment Specialist

Stephan joined Fairtree in 2025 as an investment specialist in the Distribution team. He began his career at Deloitte in 2006 as an accountant. He then joined Discovery Invest as an Investment Specialist, before moving to Sanlam Investments, where he spent nine years as a portfolio manager. He holds a Bachelor of Commerce degree in Accounting from the University of Pretoria, an Honours degree and CTA in Accounting from the University of South Africa, and an Honours degree in Financial Analysis and Portfolio Management from the University of Cape Town.

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Get in touch with our experienced hedge fund team to navigate your investments. Have a question? We’re here to help.