Cadiz Offers Pan-Africa Hedge Fund

Jan 22 2009 | 12:31am ET

Cape Town, South Africa-based Cadiz African Harvest Asset Management has launched a multi-strategy pan-Africa hedge fund to invest in equities, currencies, credit, and commodities.

On the equities front, the Cadiz Pan Africa Diversified Opportunities Fund will primarily invest in companies that derive at least two-thirds of their revenue from Africa, regardless of where they are based. It will invest in companies whose shares are listed in London, Toronto, Sydney, Australia, and Johannesburg, South Africa, and will also include American depositary receipts and dual-listed companies.

The fund launched in October with US$11 million in seed capital from Cadiz and European investors, according to the firm. It managed to gain a respectable 1.9% in its first three months of trading at a time when many of its emerging-markets peers suffered losses.

The firm said the fund’s investment team analyzed the pros and cons of extracting yield from the various asset classes and took an active decision to select “highly liquid underlyers.”

“Many Funds have been caught out by not fully appreciating the solvency and credit crises. As we review potential opportunities, we remain of the opinion that the bid is king and the name of the game is to be highly liquid,” it said.

The Fund is managed by Andrew Wolfson, Richard Cudmore and Kyle Hulett.


In Depth

Humble in Hofstra...One Debate an Election Can Make

Sep 26 2016 | 10:20am ET

Tonight's U.S. Presidential debate, infamously coined the “Humbling in Hofstra...

Lifestyle

Vortic: Reimagining the Custom Wristwatch

Sep 27 2016 | 7:24pm ET

American watch manufacturer Vortic, which started out restoring antique pocket watch...

Guest Contributor

Hedge Fund Marketing – Tips for Your Initial Sales Meeting

Sep 29 2016 | 5:46pm ET

There are two main goals a hedge fund should have for an initial in-person sales...