Ashburton, part of South Africa’s FirstRand Group, has launched a Luxembourg-domiciled Ucits IV fund investing in Africa, but excluding South Africa.
The Africa Equity Opportunities Fund is the first fund on Jersey-based Ashburton’s recently launched Ucits platform, which is part of a strategy to expand its product range and reach new markets.
Paul Clark is lead advisor on the Africa Equity Opportunities Fund and will target undervalued listed African equities across various sectors to achieve long-term capital growth.
A former head of research for the African Alliance Group, Clark will be based in South Africa. Ashburton says he will adopt an unconstrained approach, using a bottom-up stock selection process and construct a high-conviction portfolio.
Ashburton is part of Rand’s asset management business, Ashburton Investments, which has R100 billion (€7.9 billion) of assets under management.
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