Story by: Jim Robinson, Investment Adviser
March ended on an especially high note for UK retail funds, with 70 per cent of IMA sectors achieving positive returns over the month, according to Lipper.
Launch follows acquisition of New Star's Heart of Africa fund
Stanlib, the Johannesburg-based asset management operation of Standard Bank, is gearing up to launch a global emerging markets property fund.
Jamie Allsopp, fund manager for New Star Heart of Africa, said he will not be joining Henderson Global Investors if the proposed sale of New Star Asset Management to Henderson is approved by shareholders.
March ended on an especially high note for UK retail funds, with 70 per cent of IMA sectors achieving positive returns over the month, according to Lipper.
London-based alternative assets company the Duet Group has been revealed as the buyer of the assets of New Star's £18m Heart of Africa fund.
\They will not be first out of recession, but valuations remain attractive, says group
New Star is to sell its suspended Heart of Africa fund to a single buyer, with investors set to receive the proceeds by the end of this month (April).
Franklin Templeton has increased its stake in Middle East and North Africa (Mena) specialist Algebra Capital to 40 per cent, after acquiring an initial 25 per cent holding in the company in September 2007.
T Bailey Asset Management is pushing ahead with a major overhaul of its flagship £122m Growth fund by reducing its UK exposure from 40 to 25 per cent.
The mystery shopper descends on Plymouth this week asking about investing in higher risk funds.
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Peter Eerdmans, a fund manager at Investec, talks to Stephen Wilmot about investing in emerging markets
Though not immune from western turmoil, African markets are now attracting attention
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