MAM raises pounds 28m for African fund

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The Independent Online
MAM raises pounds 28m for African fund

Mercury Asset Management has raised pounds 27.9m for a new fund investing in Southern Africa, by placings with institutions. The fund will be 80 per cent invested immediately through an asset swap with co-managers South African National Life Assurance.

Mercury said the fund would focus on companies which will benefit from growth in the domestic economy and will not reflect the composition of the Johannesburg stock exchange.

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