African focused funds clocked an average compound return of 30.2% for the 12-month period ending June 2013, Novare Investments’ recent survey reveals.
Novare Investments’ second survey focused on Africa (including North Africa) and the funds that give investors access to listed instruments on the continent. However, the special emphasis of the survey is on fund managers that invest in the listed African space outside of South Africa.
Larger funds post stronger returns
Novare Investments’ second survey on the Africa-focused fund manager landscape reveals African focused funds posted strong performance when compared to iShares MSCI Emerging Markets Index (ETF) (NYSEARCA:EEM) could deliver only 0.4%.
According to Novare’s survey, portfolios with AUM of less than $10 million...
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