Investment manager Ashburton has launched its new Africa Equity Opportunities fund aimed at both retail and institutional investors.
The fund will invest in undervalued listed African equities (ex-South Africa) across various sectors to achieve long-term capital growth.
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The fund will be managed by Paul Clark, who has over 15 years’ experience in African listed equity markets.
Aimed at experienced retail and institutional investors, including the private wealth and family office space, Paul Clark will be the lead adviser to the Fund, bringing over 15 years’ experience in African listed equity markets.
Clark, ex-head of research for the African Alliance Group, launched his first African fund in 2007. Based in South Africa, he will run the portfolio using a bottom-up stock selection process.
The fund carries an annual management charge of 2% for retail investors willing to make a minimum investment of $10,000.
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By GlobalDataClark said: "Now is an exciting time for Ashburton to be launching an Africa Fund; Africa is a growth story and seven of the ten quickest growing economies globally will be in Africa in the next five years.
"We are invested across Africa (ex SA), targeting some of the fastest growing markets in the continent. Valuations are cheap relative to emerging markets globally and the consumer boom is leading to greater demand in other sectors such as infrastructure development, construction and leisure."
Peter Bourne, managing director of Ashburton, said: "While this is a new fund for us, Africa is extremely familiar territory. Combined with Paul’s own substantial experience in these markets, and the team’s location in Johannesburg, we are extremely well placed to capture the high growth this continent presents."
