Tue, Feb 21, 2017
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

The Big Picture: African equity returns expected to be driven by earnings growth rather than re-ratings

Monday, March 24, 2014

amb
Fatima Vawda
Benedicte Gravrand, Opalesque Geneva:

As frontier markets continue to outperform emerging markets, a fund manager, who is riding this promising wave by investing in African equities, explains what is driving economic growth in Africa (excluding South Africa), and gives a short and long term outlook for this market.

The Pangaea Africa Fund of Funds is an equity Fund launched in June 2011 by 27four Investment Managers, a firm based in Johannesburg, South Africa, named after a date, 27 April 1994, when South Africa saw its first democratic election. It invests in five to ten Africa (ex South Africa (S.A.)) focused mutual funds at any one time.

Frontier markets continued to outperform emerging markets in 2013, a trend seen in the second half of 2013 when US Fed taper talk saw emerging market (EM) currencies weaken substantially while most frontier market currencies held firm. Africa (ex S.A.) was the best performing frontier region for the last quarter of last year, driven by Egypt, and for the year 2013, sub-Saharan African markets had the best performance, after a strong 2012. From the beginning of 2012, these markets have returned 86% as measured by the MSCI FM Africa Index (54% in 2012, 31% in 2013, and currently down -7% YTD).

Economic growth view According to 27four, over 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. People - Kuwait wealth fund head Al Saad said to step down after 14 years[more]

    From Bloomberg.com: Kuwait Investment Authority is set to name Farouk Bastaki as managing director, replacing Bader Al Saad who ran the world's fifth-largest sovereign wealth fund for 14 years, a person familiar with the matter said. The KIA, as the fund is known, is finalizing the appointment, said

  2. Manager Profile - Eddie Lampert: a painful entanglement with Sears[more]

    From Moneyweek.com: "In the long run we are all dead." Lex in the Financial Times reached for the famous quote from John Maynard Keynes in January when, after a long and unforgiving decline, the clock finally appeared to be running out on Sears, the iconic US department store group. Yet the group's

  3. Investing - Hedge funds quit Aberdeen shorts as shares begin to recover, Hedge funds' next big short: U.S. malls, O'Connor fund owns 9.5% of Protalix Biotherapeutics, U.S. hedge fund takes position in Macau hotel The 13[more]

    Hedge funds quit Aberdeen shorts as shares begin to recover From Investmentweek.co.uk: The last two hedge funds to short Aberdeen Asset Management have removed their positions, as the fund group's shares begin to show signs of recovery after a difficult few years. According to the Financ

  4. Latin America, high yields and Asia Pacific strategies dominate hedge fund returns in January[more]

    Komfie Manalo, Opalesque Asia: Latin America (+7.04%), high yield (5.63%), and Asia-Pacific (+5.06%) strategies dominated hedge fund performance in January, data provider Hennesee Fund Research said. The bottom three strategies for the mont

  5. Investing - Hedge funds loading up on this dividend stock, The biggest hedge funds have been piling into bank stocks[more]

    Hedge funds loading up on this dividend stock From Incomeinvestors.com: Hedge funds are backing up the truck on Cameco Corp stock. Billionaire Jim Simons owns 389,000 shares. Other Wall Street titans - including Ray Dalio, Ken Griffin, and Chuck Royce - have been quietly building positio