STANLIB launches Africa funds

The Standard Bank's asset management arm has unveiled the Standard South Africa Equity and Africa Equity funds. It says while the MSCI Emerging Market Index fell 12.3% since 20 July – African markets, excluding South Africa, rose on average by 1.28%. The Africa fund invests in up to 16 equity markets, with initial major holdings in Egypt, Morocco, Nigeria and Kenya as well as minor markets, such as Botswana and Ghana. Managed by STANLIB’s Africa investment head John Mackie, the fund will typically invest in 45 to 60 shares. The Richard Middleton-managed South Africa Equity fund will tar...