Sunday, 19 April 2015
Last updated 8 hours ago
May 24 2010 | 7:05pm ET
London-based Silk Invest has launch a fourth emerging markets hedge fund, this one focusing on frontier markets.
The Silk Road Equity Fund will invest in such economies in Africa, the Middle East and Southwest Asia, Fund Strategy reports. The UCITS III-compliant vehicle is expected to become available in September, pending regulatory approval.
The fund’s model portfolio offers a glimpse at where the fund aims to invest. The two largest allocations in the model are to Saudi Arabia and Nigeria.
“We are very excited about the investment opportunities in Saudi Arabia,” Daniel Broby, chief investment officer, told Fund Strategy. “We find a broad range of interesting businesses across sectors: industrials, chemicals, banking and insurance.”
The model also has a large allocation to Qatar and smaller investments in Azerbaijan, Egypt, Kazakhstan and Morocco. The firm is also looking into investing in Pakistan.
Silk Invest warned that the fund’s country allocations could change before its launch. It will charge a 20% performance fee on all returns about 8%.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…