Stanlib launches two African funds

Although the US$50,000 minimum investment is prohibitive for the majority of retail investors, the group said it may consider lowering the limit for its South Africa Equity fund, which it believes is the first of its kind in the market place. This is managed by Richard Middleton and will typically invest in a concentrated portfolio of 40-50 shares with target returns of 4pc above the Johannesburg Stock Exchange all share index. The second fund, Africa Equity, is managed by John Mackie and invests in up to 20 African markets across the continent, excluding South Africa. It initial...