Welcome to our first Opalesque 2010 Roundtable, which has a timely focus on South Africa and the African Continent.
South Africa has a small, but well diversified, first-class hedge fund industry. You find the whole spectrum of a fully developed sector, including administrators, prime brokers, law firms, consultants and experienced managers.
Foreign investors often don't understand the South African landscape, the level of skill available, or the mature capital market infrastructure and regulations. For example, having an independent administrator, prime broker, risk manager, auditor and custodian has been the standard for hedge funds from 2004 or 2005 onwards.
Since the global markets bottomed in March 2009, South African players have seen increased appetite for risk and the revival of capital flows. These capital flows have increasingly arisen from Asia and will be a significant force for development in Africa.
However, as this Roundtable discusses, Africa Investing presents itself with many challenges, including logistics and information flows. It is critical to have teams who have the skills to conduct on the ground research of the underlying investment opportunities. This skill set has grown significantly over the last 15 years, and offers global investors highly attractive opportunities.
The Opalesque South Africa Roundtable was sponsored by IDS Group and took place late 2009 in their Cape Town Office with:
Albrecht Gantz, Head of Riscura Analytics
Ian Hamilton, Founder, IDS Group
Marc Cross, Investec Prime Broking
Malungelo Zilimbola, Founder, Mazi Capital
Michael Tostée, Director, Skybound Capital
Nick Middelmann, Founder, Storm Capital
Simone Lowe, Portfolio Manager, Thames River Capital
Tony Christien, Director, Investment Data Services
This Roundtable also discusses in detail the many opportunities and challenges of “Africa” (frontier) investing, including detailed trade examples.
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