Ashburton launches Africa fund

Ashburton has launched its first fund on its recently-established Luxembourg Ucits platform.

The Ashburton Africa Equity Opportunities fund is managed by Paul Clark and invests in “undervalued” listed companies across Africa, excluding South Africa.

The fund’s minimum investment is $10,000 (£6,600) and it has an annual management charge of 2 per cent, with a performance fee of 15 per cent.

South Africa-based Ashburton opened a presence in Luxembourg from where the company said it planned to launch more funds into Europe.