Monday, 30 March 2015
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.
Mar 9 2015 | 6:35am ET
As more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…
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…