Stephen Cranston Associate editor

Africa represents the next frontier of untapped investment opportunity. That was a Coronation marketing blurb five years ago — a contrarian signal perhaps, as leading funds have struggled to make much money from the continent.

For example, the Allan Gray Africa ex-SA Equity Fund is down 6% a year over that time, with a decline of nearly 17% in just the past 12 months. The Rudiarius Africa Equity Fund, from a specialised Africa boutique, has contracted 1.3% a year over five years. Investec and Stanlib have scaled down their Africa teams significantly and even the African Alliance Africa Pioneer Fund, an early entry, has been closed.

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, Morningstar financial data, and digital access to the Sunday Times and Times Select.

Already subscribed? Simply sign in below.



Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00.