Monday, 1 September 2014
Last updated 2 days ago
Dec 8 2010 | 3:09am ET
Jamie Allsopp has learned his lesson.
The former New Star Asset Management fund manager's Heart of Africa fund collapsed amidst the credit crisis; the sub-Saharan markets to which the fund was heavily exposed seized up as liquidity dried up, forcing it to suspend redemptions.
Now at Insparo Asset Management, Allsopp's new hedge fund will feature only monthly, as opposed to daily, liquidity, which he and his new bosses hope will prevent a repeat of Heart of Africa's difficulties.
The new Insparo Africa Fund will debut in Feburary. It will invest across the continent, focused on the consumer sector—and South Africa. The fund can invest up to 20% of its assets in South Africa, by far the continent's largest economy.
"I am very excited about the consumer sector within Africa," Allsopp told Citywire. "GDP per capita is growing and looks sustainable. Private consumption is the main driver of GDP growth within the countries we look at."
Insparo hopes to raise US$250 million for the fund, at which point it would be closed to new investors.
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Commodities/Futures magazine launched at the precipice of a revolution in the futures industry—really a revolution in the idea of risk management—that would move it from a small niche industry to ...