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Nicolas Clavel From Precy Dumlao, Opalesque Asia:

London-based Scipion Capital, an Africa dedicated fund firm, has reported that all its three Scipion African Opportunities funds posted positive gains in January.

In his report to investors, Scipion’s Chief Investment Officer Nicolas Clavel said that the first of these funds, the Class A Commodity Trade Finance (CFT) fund, that delivers integrated short term self liquidating credit solutions to institutions operating in African commodities markets, was up +0.61% last month and has generated +67.15% returns since its inception in August 2007.

He told investors, "The idiom 'don't keep all your ostrich eggs in one basket’ is the underpinning of our diversified approach to commodity trade financing, with our funding being spread from Cameroon to Tunisia to Liberia to Botswana, to name but a few countries. This element of risk mitigation is one of the main reasons that we have achieved cumulative returns in our CTF fund."

Having originally held a focus on agricultural products, the CTF fund has broadened its activities to include opportunities in metals and minerals export and/or beneficiation, and only invests in non-perishable commodities. Because of rising commodity prices, Basel 2 & 3 risk capital regulations, and the ongoing sovereign debt crisis forcing large European banks to reduce Trade Finance activity, Scipion Capital is seeing ever-in......................

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