South African investment firm Investec Asset Management is launching a new absolute return fund focusing entirely on African equity markets.
According to Global Money Management, the fund, which is targeted at institutional investors, is banking on the perception of improved economic prospects for the region following the recent G8 meeting. Investec notes that investment returns from the region have also improved while the perception of political and economic risk has reduced.
Currently, Investec manages African portfolios only on a segregated basis.
The fund is likely to be domiciled in Guernsey, although details of minimum investment and fund capacity have yet to be released.
A comprehensive report in our Intelligence Report series examining offshore investment, offshore stock exchanges, and hedge funds is available in the Lowtax Library at http://www.lowtaxlibrary.com/asp/subs_reports.asp and a description of the report can be seen at http://www.lowtaxlibrary.com/asp/description_report9.asp
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