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Ashburton launches Africa equity fund
28 May 2013
The new fund will be headed by Africa equity expert Paul Clark
Ashburton has launched an Africa equity opportunities fund. The fund is the first on Ashburton’s recently-launched Ucits platform.
The fund’s strategy will focus on targeting undervalued lists African equities (ex-South Africa) across various sectors in order to reach long-term capital growth. It will be aimed at experiences retail and institutional investors, including private wealth and family offices.
The fund will be led by Paul Clark who has more than 15 years’ experience in African-listed equity markets.
Clark has previously worked for African Alliance Group as head of research and he also launched his first African fund in 2007.
He joined Ashburton in 2012 to help set up the fund.
Clark predicted that seven of the ten fastest-growing global economies will be in Africa over the next five years, adding:
“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.
"Continuously improving operating environments across the continent means investors now have access to previously un-obtainable opportunities while providing greater protection for investors’ interests.”
Ashburton’s roots lie in Africa as it is part of the FirstRand Group which is one of the largest financial groups on the continent.
“Africa is no longer bracketed as a resource–dominated investment; it represents a multi-faceted opportunity for investors in some of the fastest-growing economies in the world,” said Peter Bourne, managing director of Ashburton.
The new Ucits platform is a part of Ashburton’s strategy to tap into new markets through a globally-recognised fund vehicle.