The selldown comes at a time when Caledonia is battling lacklustre returns from its flagship global fund, which was down 32.7 per cent in the year to June 30.

Caledonia, founded by Will Vicars and Mike Messara, has pressed sell at a time when its flagship fund is battling poor performance and investor redemptions.

The selldown comes at a time when Caledonia is battling lacklustre returns from its flagship global fund, which was down 32.7 per cent in the year to June 30.