Sat, Dec 3, 2016
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Tower Capital’s long/short equity hedge funds profit from South African retailers’ northward expansion

Monday, September 23, 2013

amb
James Faircliff
Benedicte Gravrand, Opalesque Geneva:

South Africa’s big retail chains such as Shoprite, Pick n Pay, Woolworths are expanding in sub-Saharan Africa to counteract a sluggish home market, reports this week’s Economist. Zambia is one of the countries they expanded in, which is a good bet, says the paper as its economy is one of the fastest growing at the moment thanks to high demand for copper. "Of the world’s ten fastest-growing economies in the past decade, six were African," the paper adds. Shoprites for example, saw its sales outside of South Africa grow by 28% in the year to June, compared to 9.8% at home, and it is planning 47 new stores mostly in Nigeria and Angola. Western retailers such as Walmart, Carrefour, and Tesco are dipping their toes in the market through joint ventures, or lie in wait.

Investing in the expansion Some locally based people are taking advantage of this great spreading out.

Tower Capital Management runs South African long/short public equity hedge funds with a focus on South African listed companies, with a bias towards African consumer-orientated growth strategies.

The Tower Fund (ZAR) was launched in August 2009; it is up 18.4% YTD (to end August), having annualised 20.8% since inception. Th......................

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. M&A - AllianzGI to acquire Sound Harbor Partners, SS&C completes acquisition of Wells Fargo's Global Fund Services business[more]

    AllianzGI to acquire Sound Harbor Partners Allianz Global Investors (AllianzGI), an active investment manager, announced that Sound Harbor Partners, a US private credit manager led by Michael Zupon and Dean Criares, have agreed to join its fast-growing Private Debt Platform. Under the te

  2. Hunt for yield pushes more investors into riskier assets[more]

    From FT.com: Pension funds and insurance companies have increasingly embraced riskier assets in their hunt for higher returns over the past five years. Alternative assets such as property, infrastructure, private equity and hedge funds have been bought up by institutional investors in a world where

  3. People - Nectar Financial hires senior investment team, Texas A&M replaces retiring foundation investment chief, Ex-Cadwalader partner Woolery makes another sudden exit, How to become a Python coder at a top hedge fund, by the co-CTO of Man AHL[more]

    Nectar Financial hires senior investment team Nectar Financial AG, a Swiss financial technology company for wealth and asset management, has announced that it has hired two key senior leaders to spearhead its digital asset management efforts. The company also announced that it has entere

  4. Activist News - Cognizant has introductory discussion with activist investor Elliott; to review letter, Starboard Value makes huge investment in Hewlett Packard, Hedge fund calls for removal of First NBC Bank CEO[more]

    Cognizant has introductory discussion with activist investor Elliott; to review letter From Indiatimes.com: Cognizant said it had an introductory discussion with Elliott Management after receiving the activist hedge fund's letter asking for a board shakeup, a buyback, a dividend and chan

  5. Opalesque Exclusive: Ireland relaxes treatment of direct lending funds[more]

    Bailey McCann, Opalesque New York: The Irish Central Bank has relaxed its treatment of direct lending funds, according to a recently released