Sun, Dec 4, 2016
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Africa offers investors plenty of idiosyncratic opportunities and market inefficiencies

Monday, January 20, 2014

Komfie Manalo, Opalesque Asia:

Africa offers investors plenty of idiosyncratic opportunities and market inefficiencies. There are approximately 100 Africa-focused funds, many of them managed from outside Africa. The investment interest in the region is driven by European single and multi-family offices, some of the very large asset consultants have all been over the continent looking at some of the local managers.

These were some of the findings of hedge fund and asset managers who attended the recent Opalesque South Africa Roundtable in Cape Town.

Andre Steyn, portfolio manager at Africa-focused alternative investment firm Steyn Capital Management said, "In Africa, we have about 1,200 listed stocks currently, so the universe we are looking at is roughly three times the size of South Africa. But, the market capitalization is a lot smaller. It still lends itself to a number of opportunities. In terms of market inefficiencies, it’s a nice place to be. One of our current trades is in a rights offering, where we are buying the rights including the premium, at 1.50 and selling the shares at over 2. There are several idiosyncratic opportunities like this where we are able to participate, given our modest fund size."

Steyn made the comments after James Gilfillan, chief investment strategist at investment advisory firm ......................

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. 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

  3. 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

  4. 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

  5. Hedge funds gain on Trump market rally, positive U.S. data[more]

    Komfie Manalo, Opalesque Asia: Hedge funds enjoyed meaningful returns in the week ending November 22, with the Lyxor Hedge Fund Index moving up 0.7% over the period (-1.6% YTD). From a broad perspective, all strategies ended the week on a positive note except for CTAs that ended flat. Event d