BLACK ONYX is a distribution specialist and RegTech provider

Overseeing independent platforms for asset managers to engage with investors while also supporting financial professionals regulatory needs.

We address 3 challenges in the financial services industry with an integrated digital solution:




The BLACK ONYX Monthly Dispatch introduces you to award-winning fund managers each month

BLACK ONYX has interviewed and documented over 50 asset managers (traditional and boutique), making their content freely available on our YouTube channel, watch HERE.

A selection of these managers also feature on FUND HUB (, showcasing the interviews, fund factsheets and direct access to the asset managers, all of whom who have undergone multiple layers of independent and institutional due diligence.

These best of breed fund managers afford you accessibility to high-end, carefully researched, alternative, traditional and passive strategies that include:

Balanced Fund

A balanced fund combines equities, fixed income (bonds) and sometimes a money market component into a single portfolio. These hybrid funds typically stick to a traditional mix of stocks and bonds (70/30) that maintain a moderate (higher equity component), or a conservative (higher fixed-income) position.

Exchange Traded Funds (ETFs)

An exchange traded fund (ETF) is a regulated security that tracks an index, a commodity, bonds, or a basket of assets like an index fund. Unlike a unit trust, an ETF trades like any normal stock on an exchange and their prices fluctuate during the day as they are also affected by supply and demand.

Flexible Fund

As the name implies, a flexible fund is a pooled investment that has broad flexibility for investing in fixed income (bonds), equity, commodity and foreign exchange product markets. With access to a wider universe of investments, the fund can actively allocate investments according to market opportunities and conditions rather than specific investing requirements.

Global Equity

A global macro strategy is a hedge fund strategy that primarily bases holdings, including long and short positions, on macroeconomic principles. These actively managed funds attempt to profit from broad market swings due to political or economic events by using investing in fixed income (bonds), equity, commodity and foreign exchange product markets.

Long Short Hedge

The most common of the hedge fund strategies – representing two thirds of the industry– involves taking long positions in equities that are expected to appreciate in value and short positions in equities that are expected to decline over time. Long and short are not a measure of time, but of the perceived direction of the investment profiting.

Money Market

The money market is a highly liquid segment of the financial markets where financial instruments are traded through borrowing and lending for the short term.


These are specialists in selecting fund managers and apportioning them into a structure with other fund managers. Structures vary and have different tax implications. The most popular is the fund of funds structures, they are the largest investors in alternatives, accounting for 57% of the local industry allocation into hedge funds and as much as 24% of the global allocations.

Private Equity (S12j)

Section 12J is an investment tax incentive designed to encourage investment into a range of private companies which meet defined criteria. The incentive gives taxpayers the ability to write off 100% of their investment against their taxable income.

Property (Global)

Global Property funds are typically actively managed onshore and offshore funds, investing in listed property shares, also considering REITS, financial instruments (leverage and derivatives), assets in liquid form and at times non-equity securities (bonds).

Dividend Income

A dividend income strategy considers the distribution of earnings to shareholders in cash, equity, or property. Unit trust dividends are usually paid out quartterly from interest generated by the fund’s investments.

Fixed Income

Fixed income investors act as lenders of capital, issuing credit, using bonds (federal governments, local municipalities and major corporations), for which real return rates or periodic income are received at regular intervals and at reasonably predictable levels. Commonly used in some traditional investments to manage risk and at times a very efficient financial instrument.

General Equity

Also referred to as a Long-Only equity strategy, involves taking long positions in equities, that are expected to appreciate in value. This approach will not employ derivatives or gearing for hedging purposes (unlike an equity long / short fund) and is considered very mainstream. This is one of the more common retail products across the unit trusts.


Indexation is a method of tracking a broad market index or a segment thereof thus replicating the performance of the designated index. Tracker funds are investable, appropriate, transparent and measurable. Two major risks to generating investment returns are emotion and costs; index funds mitigate both these risks.

Market Neutral

A common equity long-short strategy that seeks to profit by matching long and short positions in different equities, expecting to avoid risk while able to exploit any momentum in the market. Market-neutral managers may also use other tools such as merger arbitrage, shorting sectors and so on.


Multi-asset funds have mandates that afford the fund manager the flexibility to invest in a broad range of asset classes (such as cash, equity or bonds, both domestic and offshore). The objective is to achieve consistent real returns and long-term capital growth through maximum exposure to equities during bull markets, while minimising exposure to equities in secular bear markets.


As the name implies, this seeks hedged returns through numerous asset classes: long-short, long only (equity), market neutral, event driven, merger arbitrage, fixed income and global macro. Collectively, they seek absolute returns with minimised risk and are typically reserved for the very experienced teams.

Property (RSA)

These are typically actively managed funds, investing in listed property shares, also considering REITS, financial instruments (leverage and derivatives), assets in liquid form and at times non-equity securities (bonds).

Structured Products

A structured product is an investment that provides a pre-defined investment outcome over a pre-determined period. Structured products typically provide returns linked to the performance of an equity index or interest rates and are tailored to provide capital growth with some level of capital protection.

Here are some of our preferred fund managers, while more detail and market research is available on FUND HUB:


While continually reviewing fund managers BLACK ONYX has established a series of short interviews bringing you face-to-face with some of the industry stakeholders.

Check out the videos below or on FUND HUB where you will also have access to their factsheets and market research.

Mark Preston – Laurium Capital

Nomathibana Matshoba – Terebinth Capital

Paul Duncan – Catalyst Fund Managers

Earn your CPD hours from you phone or PC from watching our manager interviews

BLACK ONYX is a registered CPD service provider (FPI + SAIFM)

Director (KI): Andrew Ludwig
Financial Service Provider: 47701

Having worked with alternative investments since 2008, we established BLACK ONYX in 2015 as an alternatives consultancy which has since evolved to become an advisory, distribution specialist and RegTech provider.

As a distribution consultancy and alternative investment advisory, we partner with award-winning asset managers (traditional, passive, boutique & alternative), and generate high-quality video content for financial professionals (independent & institutional) and individual investors who wish to be better informed and remain digitally connected to the investable universe.

Please subscribe to our complementary BLACK ONYX Monthly Dispatch.

Our digital solution assists the asset managers’ distribution function (FUND HUBand financial professionals’ regulatory requirements ( THE CPD HUB ), while our content is complimentary, supporting economic transformation and financial literacy. Click here to learn more.

BLACK ONYX is a registered Financial Services Provider (47701) regulated by the FSCA (formerly the FSB), member of the FIA (Financial Intermediaries Association of South Africa) and a registered CPD service provider by the FPI (Financial Planning Institute of South Africa), SAIFM (South African Institute of Financial Markets).

Patrick Cooper

Patrick Cooper
Business Development at Coupland Cardiff Asset Management.

I have known Andrew for many years as an investment professional and investor in hedge funds and alpha strategies. He has a wide knowledge of investment markets and investment funds in general. He is a great communicator and very professional in his approach.

Nicholas Jeffrey

Nicholas Jeffrey
Relationship Manager at Sanlam Private Wealth.

Andrew has been involved with our firm for many years. He has a wealth of knowledge in the alternatives space both locally and abroad.

Warren Buys

Warren Buys
Wealth Manager at Private Client Holdings

Andrew’s enthusiasm for alternatives is matched by his professionalism and astute level of service.

Boutique Industry:

As a South African investor, you have access to FSCA regulated boutique asset managers, which also include private equity, hedge funds and cost effective CIS structures. These award winning portfolios rely on carefully selected boutique asset managers who contribute to a range of diversified investment strategies (Long-Short Equity, Long Only Equity, Fixed Income and Multi Asset). Why not check out FUND HUB to meet them face to face.

Highly experienced teams manage an optimal blend of uncorrelated strategies, maximising risk-adjusted returns and reducing poor individual investment decisions. In turn they are each overseen by a regulated institution whose focus is low-volatility and efficient fund structures. This doesn’t necessarily suggest layers of unwarranted fees, as it does layers of insurance.

Alternative Structures:

Allocations to investment strategies constantly change as macro-economic sentiment ebbs and flows. Given the extent to which the current bull cycle has run, sophisticated investors are looking towards the alternatives to reinvest profits and position themselves for volatility which is the new norm.

Integrating alternatives strategies like private equity, hedge funds, structured products reduces your over portfolio risk through diversification, while still remaining invested in traditional and passive asset classes.

Redemptions can become very costly over time and our preferred structures address this. BLACK ONYX represents investment managers who will reduce your overall investment costs with sophisticated portfolio construction. Contact us here for more detail.

Regulatory Requirements:

As of the 1st of June 2018, many South African financial professionals will be required to earn CPD points to remain “Fit & Proper” (FAIS Act). This affects Key Individuals, Representatives and those under supervision. Various professional bodies that support CAs, CFAs, stockbrokers, actuaries, tax consultants, pension and retirements funds to name a few, are also subjected to their own CPD requirements. Please refer to THE CPD HUB for more detail on our digital solution for all financial professionals.

Want to learn more?

Click HERE for the FREE e-book

Earn 2 FREE CPD Points

BLACK ONYX is an authorised FSP (47701)
and accredited CPD provider.

Corporate Social Investment

BLACK ONYX is committed to social upliftment, supporting individual families with funds for extra tuition and tutorships. BLACK ONYX also contributes to the Silibona Educational Fund, a tertiary education initiative providing financial assistance & mentoring support at university level, to disadvantaged students, focused on mainly female students.

BLACK ONYX also makes all our video content freely available in support of financial literacy and economic transformation.

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BLACK ONYX is an authorised FSP (47701)
and accredited CPD provider.