Sun, Apr 20, 2014
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

Banner
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. Opalesque Exclusive: Classic Auto Funds Limited (CAF) launches several car investing funds[more]

    Bailey McCann, Opalesque New York: A new trend in alternative alternatives is emerging - car appreciation funds. Classic Auto Funds Limited (CAF) is the first to market with several funds that make super elite luxury cars into real asset investments. As a result of growing overseas demand couple

  2. CTAs could face new challenges in a rising rates environment[more]

    Bailey McCann, Opalesque New York: CTAs have taken a beating performance wise lately, and asset flows reports show that investors aren't sticking around to see how the movie ends. Now, a new white paper from Roy Niederhoffer and Coen Weddepohl notes that as interest rates start to tick back u

  3. Investing – Big hedge funds bought Puerto Rico's junk bonds, Fidelity explores new trading venue amid flash trade concerns, Crisis-era Greek bonds reward early buyers with big effective returns, Cargill unit discloses stake in Freddie preferred[more]

    Big hedge funds bought Puerto Rico's junk bonds From Reuters.com: Several large hedge funds doubled down on Puerto Rico in last month's giant bond sale despite the U.S. territory's financial struggles, the Wall Street Journal reported, citing confidential documents reviewed by the newspa

  4. Opalesque Exclusive: Hedge fund replicators evolve[more]

    Bailey McCann, Opalesque New York: Hedge fund replicators as a group of products tend to get a bad rap from hedge fund managers who suggest that the best a replicator can offer is dynamic beta capture. A

  5. Commodities – Popular value fund manager David Iben bets on Russia, gold,[more]

    From Reuters.com: With large bets on Russia and North American gold miners, one of the best performing stock pickers in the wake of the 2008 financial crisis is back with a new fund that reflects his deep aversion to following the crowd. In the Kopernik Global All-Cap Fund, David Iben is follo