Sun, Sep 25, 2016
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

All three Scipion funds grow stronger on weak U.S. dollar and strengthening African currencies

Friday, August 27, 2010

Precy Dumlao, Opalesque Asia:

All three funds from Africa-focused, Cayman-domiciled Scipion Capital Ltd., produced positive returns in July due to the weak U.S. dollar and to strengthening African currencies, said Nicolas Clavel, founder and CIO of the firm in a communication with investors.

In his "African Explorer's Diary," Clavel said that July proved to be an excellent month for Scipion's Index Tracker Fund and the Alpha Seeker Fund as many markets returned positive performance.

The Scipion Index Tracker Fund produced +6.06% (-2.96% YTD), the Scipion Alpha Seeker Fund produced +3.18% (+2.12% YTD), and the Scipion Commodity Trade Finance Fund gained +0.84% (+7.10%. YTD).

Clavel wrote in his diary: "Since the Index Tracker Fund [was] launched in July 2007, a number of technological advances have been made that have a major impact on growth in Africa. First was the Pesa system launched by Vodafone in Kenya which enabled first domestic and now international money transfer from mobile to mobile, thus reducing the cost of transfer, increasing its speed and bringing money efficiently to the remotest part of rural Africa."

He also noted the launch of sub-sea cables in Africa last year which increased Internet speed considerably and helped remove some trade barriers in the region. "Now systems are being introduced to bring mini weather stations on all mobile telecom towers across t......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing

 



  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Star names struggle as smaller hedge funds make hay[more]

    From eFinancialnews.com: Many big-name funds have been hit by sharp reversals in markets, including US government bonds and UK stocks, and have struggled to extricate themselves from positions that have gone bad. According to data group eVestment, hedge funds below $250 million in size are up 4.1% t

  2. North America - Acela fight splits hedge fund Connecticut and old money enclaves[more]

    From Bloomberg.com: Connecticut’s residential coastline is two worlds, the one of newcomer millionaires and one whose wealth and New England roots span generations. Now, their differences over a rail route threaten to gum up plans for the U.S. Northeast’s fastest-ever trains. About 30 miles from Man

  3. Activist News - Caesars offers creditors another $1.6bn, would spell end of hedge fund ownership, Activist investors double chance of CEO exits[more]

    Caesars offers creditors another $1.6bn, would spell end of hedge fund ownership From Calvinayre.com: Casino operator Caesars Entertainment has improved its offer to junior creditors to over $5b, but the offer is only good until Friday. On Wednesday, Caesars added an extra $1.6b to the $

  4. Comment - ‘Gut feeling’ measurable in hedge fund traders, How hedge fund managers can use blockchain to maximize benefits[more]

    ‘Gut feeling’ measurable in hedge fund traders From Laboratoryequipment.com: “Gut feeling” is an intangible – an automatic hunch – based on prior experience for some people. But the “gut feeling” is actually a measurable response developed in professionals doing some high-risk work, acco

  5. Opalesque Exclusive: Modern investor tools (2): A platform that does the job for you[more]

    Benedicte Gravrand, Opalesque Geneva: A new series on technology providers that assist asset allocators. There is disruption in the investor part of the world of hedge funds, coming from platforms that can replace traditionally-run search and analysis. Here is one of them. L