Some gems in African Rainbow Capital
The company’s fees and some bad investments remain issues. But the pay day from telecoms firm rain could be huge
Investment trusts like African Rainbow Capital (ARC) work on the basis that if you spend enough time on the driving range you will find the next Tiger Woods.
That ability to spot winners is supposed to justify ARC’s much-disliked management fee. But despite strident opposition to it, the company is sticking to its original timeline to "reset" it...