HI EMIM Africa Fund

Investment Objective

The Fund's objective is to achieve a target return of 15% p.a. with 10% volatility in the medium term. It is focuses on long/short equity investing in publicly listed equities whose principal business activities are in Africa. The Fund aims to replicate the strategy of SSCG Africa Opportunities Master Fund; it is currently invested in Nigeria, South Africa, Zambia, Ghana, Kenya and Zimbabwe.

Latest Meeting Note

Meeting 13 Nov 2020

The strategy specialises in the sub-Saharan Africa region by employing a fundamentally driven long short investment approach to equities and bonds (government and corporates). Portfolio allocation is dynamic and flexible reflecting the m... Read more

The strategy specialises in the sub-Saharan Africa region by employing a fundamentally driven long short investment approach to equities and bonds (government and corporates). Portfolio allocation is dynamic and flexible reflecting the manager’s best assessment of risk-reward opportunities. Within the equity bucket, the fund makes long investments in growth companies that will benefit from the economic development of the African region. The short book is generally built around single name positions whose business prospect are deteriorating. The bond book is typically invested in Government Bonds issued by African countries, in Local Currency, in order to take advantage of the very interesting yields offered by such bonds, and of the potential appreciation of local currencies. The final portfolio typically includes 20-50 equity positions, with the fund net exposure ranging between zero and +50%.

Performance

JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC YTD
2020 0.5 0.4 0.6 0.9 0.1 0.4 0.4 0.9 0.5 0.5 0.5 0.2 0.8
2019 0.3 0.3 1.0 0.2 1.0 0.8 0.8 0.2 0.6 0.6 0.6 0.2 0.3

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