Old Mutual Global Investors (OMGI) is set to launch its first Pan African fund for UK investors.
The Dublin-listed Pan African fund is expected to be launched in early November subject to regulatory approval.
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The fund will launch with $50m of seed money with sterling, US dollar and euro share classes.
The fund, which will be co-managed by Cavan Osborne and Randolph Oosthuizen, will invest in some 35 stocks.
The fund is launching with one third of its holdings in South Africa and a further 26% in Nigeria. Egypt and Kenya will make up 9% and 6% respectively, with Botswana accounting for a further 5.9%.
OMGI chief executive Julian Ide said: "At launch, this fund will be one of the biggest Pan-African funds available in the market without about $100m under management.
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By GlobalData"It already has an established investment track record and we believe it will be highly attractive to UK and off-shore investors."
