FUND MANAGEMENT NEWS
GELDOF: FUNDS MISSING OUT ON AFRICA
Sir Bob Geldof has warned UK pension funds that they are missing out on a great investment opportunity by not investing in Africa. Speaking at an event held by CDC, a government-backed institution that makes private equity investments in sub-Saharan Africa, he said: “Where is your money safest? Africa – that’s the truth. The fundamentals are staring you in the face.” He added that UK pension funds were lagging their overseas peers in investing in Africa. A young population, a growing base of consumers and a wealth of natural deposits are all positives for the region.
ALTERNATIVES IN FAVOUR ONCE AGAIN
Institutional investors across the world expect to recommit to alternative investments despite the global crisis, the Russell Investments 2010 Global Survey on Alternative Investing showed earlier this week. They expect (on average) an increase of over a third (from 14 per cent to 19 per cent) in their allocation to alternatives over the next two to three years. More than 80 per cent of them have made (or plan to make) changes in their risk management approach and nearly two-thirds are increasing the sophistication of their decision making and governance processes.
BLUECREST’S ALL BLUE FUND RAISES £350M
BlueCrest’s All Blue Limited fund announced on Monday that it had raised almost £350m in its largest fundraising to date. Since its inception in 2005, the fund has had an annualised return of 12.41 per cent and its NAV has risen every year, rising 21.54 per cent in 2009.
Its chairman Richard Crowder said the fundraising’s success was “a testament to the company’s track record of excellent performance. We have been delighted with the demand from existing and new investors”. RBS Hoare Govett Limited and Dexion Capital acted as joint bookrunners to the issue.