Reference is made to our letter dated 25 July 2017 in relation to the Suspension of Dealing and Compulsory Redemption of the above mentioned Sub-Fund. We are pleased to note that the Investment Manager has closed down all of the Sub-Fund’s underlying positions and all...
The FMG group has a healthy growth and we recently celebrated our 25th anniversary. In growing and developing our offerings, we are currently streamlining the number of funds and share classes offered. Following the receipt of a material redemption, we took a...
FMG (EU) Africa Fund lost 0.5% in the 2nd Quarter of 2017 Kenya was the top performing market in the second quarter, rallying 18% on the back of telecom giant Safaricom reporting impressive growth numbers. Mauritius gained +17%, boosted by the tier 1 bank MCB rallying...
FMG (EU) Africa Fund gained +0.4% in the 1st Quarter 2017 African markets were all over the place at the start of the year, but closed the quarter mostly flat. Kenya was down a massive 13% at one point, and Egypt up 19% but both closed the quarter flat. We added...
Africa continued to disappoint investors in 2016. Frontier African markets traded downwards during the quarter with Ghana falling 10% and Tunisia, Nigeria and Kenya down 5%. Volumes remained muted across the region and much of the losses across the region was due to...
During the third quarter most African markets joined the global equity market rally. African currencies were also broadly stronger with the exception of the Nigerian Naira, which weakened by 12%. The top performing markets were Egypt +22%, Morocco +8% and Mauritius...
