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AGF Magazine - April 2019 issue

  • In a region where only a minority of the population has access to a bank account and SMEs struggle to get financial help from traditional banks, Albert Alsina, CEO and Founder of Mediterrania Capital Partners, explains how the PE industry is becoming a catalyst for the African Fintech ecosystem’s development, enabling large-scale banking and supporting entrepreneurs and SMEs in their expansion plans (pp. 10-12).
  • In this month’s issue of Africa Global Funds, we also caught up with Kenneth Kaniu, Britam Asset Managers CEO, to learn about their anchor investment in Tiserin Capital, and the needs and constraints of institutional investors in Kenya and East Africa (pp. 14-15).
  • On the infrastructure front, we hear from Moritz Breickmann, Investment Director at African Infrastructure Investment Managers (AIIM) who showcases some successful airport redevelopments in Africa. Read on to find why airport infrastructure projects on the continent can provide attractive long term returns to investors (p.17).
  • In this month’s issue we also learn that the FTIF Templeton Africa Fund was merged into the FTIF Templeton Frontier Markets Fund. We speak with Ahmed Awny and David Haglund about the Fund and its African investments (p.16).
  • Finally, Rob Childs, Head of International for Prescient Fund Services shares his views on the global distribution challenges facing African fund managers and why the firm decided to domicile their offshore fund range in Ireland (p. 22).
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News > Funds > Launches

EFG Hermes launches UCITS funds for Frontier Markets and MENA

Africa Global Funds
Feb. 4, 2016, midnight
540

Word count: 355

EFG Hermes, an investment bank in the Middle East and North Africa region, has launched its first UCITS funds, which are now available to European investors.

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EFG Hermes, an investment bank in the Middle East and North Africa region, has launched its first UCITS funds, which are now available to European investors.

The EFG Hermes Frontier Equity Fund and the EFG Hermes MENA Equity Fund will provide investors with access to frontier markets and MENA markets, respectively.

Amr Seif, Head of Asset Management at EFG Hermes, said: “This is our first entry into frontier markets and also offers a vehicle to accommodate a large pool of European assets.”

“We will use our rigorous investment process used in MENA markets in the extended frontier universe. We are confident about generating superior risk-adjusted return as the fund capitalises on opportunities that benefit from growing domestic demand, driven by shifting demographics and an emerging middle class,” he said.

The EFG Hermes Frontier Equity Fund can invest in all frontier markets, but the fund is currently focused on opportunities in, Sub-Saharan Africa, South and East Asia and the Middle East.

The Frontier Equity Fund will be benchmark agnostic and will constitute 15-25 holdings of high conviction investment ideas selected on their individual underlying merits.

The EFG Hermes MENA Equity Fund, a UCITS equivalent of the firm’s flagship MEDA Fund, is designed to provide European investors with access to the latter.

The MEDA Fund is one of the oldest and best-performing Middle East and North Africa-dedicated equity funds in the region.

Since December 2011, it has outperformed the S&P Pan-Arab Index by 62.7%.

Sherif El Haddad, Fund Manager of the MEDA Fund, said: “We are confident about our ability to continue to outperform in different market conditions — it is our ability to identify and select the stocks that exhibit the growth attributes in bull markets and quality and resilience in bear markets.”

EFG Hermes has fully dedicated asset management teams based in Cairo, Dubai and Saudi Arabia, with total assets under management of $2.6bn invested across a diverse array of single country and regional fixed income, money market and equity products; the equity portion of the total stood at $ 1.5bn.

The EFG Hermes Frontier Equity Fund and the EFG Hermes MENA Equity Fund are managed from Dubai and domiciled in Ireland, with HSBC as custodian.

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