In a low return or a volatile market environment in South Africa, hedge funds offer the best hope for positive returns, according to Geoff Blount, Managing Director of BayHill Capital.
The UK’s decision to leave the EU (Brexit) brings long-lasting political and economic consequences and is rather inopportune for African economies, however asset managers and investors alike should focus on their long-term strategies.
IFC, a member of the World Bank Group, and the Ghana Stock Exchange (GSE) have partnered to promote the adoption of sound business practices within the capital market to support business expansion and boost economic growth.
STANLIB, a Johannesburg based asset manager, has consolidated its equity products and mandates into a single Equity franchise, to enhance its specialist South African Equity franchise. Herman van Velze, who is currently Head of Investments and co-manages the Multi Asset Franchise, will contnue to be the Head of Investments and lead this Equity franchise from October 2016.
Ashburton Investments, the asset management business of the FirstRand Group, has announced the launch of a new sterling share class for its US dollar-based Africa Equity Opportunities Fund.
The shift from a tiered to a managed floating FX regime in Nigeria opens up the US Dollar-based equities investment case again, according to Alan Cameron, Economist at Exotix Partners.
Ethiopia’s electric utility has agreed to pay nearly $6.5m to settle charges that it violated US securities laws by failing to register bonds it offered and sold to US residents of Ethiopian descent.
In the run-up to the first Africa Hotel Investment Forum (AHIF) in Lomé, the organiser, Bench Events, has praised Togo’s commitment to far-reaching infrastructure improvements destined to boost economic growth and transform the country into a strategic transport hub in west Africa.Matthew Weihs, Bench Events Managing Director, said: “We’re very pleased to be hosting an additional AHIF in Togo at this decisive time, as the country embraces a number of important projects that will enhance its standing as a significant investment destination”.Among the new projects are the newly-opened terminal at Lomé International Airport and the landmark Radisson Blu Hotel du 2 Février which will host the AHIF conference, as well as the major expansion of the capital’s sea port in the coming years.AHIF conferences bring together high-profile, international investors, business leaders, government ministers and top officials from across Africa and will include the Prime Minister of Togo, Komi Sélom Klassou.Weihs added: “We are looking forward to an exciting AHIF in Lomé. Togo has dynamic plans to develop and expand trade and tourism and AHIF will provide an excellent platform for delegates to discuss the way ahead. Our conference programme is packed with influential speakers who will share their insights on highly topical issues and we’re looking forward to some lively and enlightening discussions.”Togo attracts a variety of visitors keen to explore its beautiful scenery and enjoy its tropical climate.
South African local collective investment schemes (CIS) have attracted healthy net inflows of R26bn ($1.7bn) in the first quarter of this year, despite prevailing economic and political uncertainty dowsing investor confidence.
TriLinc Global Impact Fund has approved an additional $15m in trade finance facilities to companies operating in Sub-Saharan Africa, bringing total financing commitments as of April 30, 2016 to $153.5m.
Given the scale, complexity and fragmented nature of the African continent, making well-informed choices about which markets to enter when and via which mode will be more critical than ever, according to Michael Lalor, EY’s Lead Partner Africa Business Centre.
South African equities are going to be challenged by high volatility and multiples for the remainder of 2016, Peter Brooke, Head of Old Mutual Investment Group’s Macro Solutions boutique, has said.
GuarantCo, a local currency guarantee provider, has appointed Cardano Development to be its new fund manager, as it looks to grow its portfolio. GuarantCo is a public/private partnership that helps finance privately-sponsored infrastructure projects in Africa and Asia’s emerging and frontier markets, providing local currency guarantees to local and regional banks so that they can raise medium and long-term debt.
Following a competitive tender process that brought interest from over 30 companies, from across Europe, Africa and North America, the Emerging Africa Infrastructure Fund (EAIF) has appointed Investec Asset Management as its fund manager.
