Frank Templeton prepares to launch Africa fund
Sunday 29 April 2012
Franklin Templeton is to become the latest fund management group to try its hand at investing in Africa. The emerging markets specialist has said that it plans to launch its new Africa fund in the UK in May, subject to Financial Services Authority approval.
The aim of the new Templeton Africa fund is to attain long-term capital growth by investing in companies who are based outside of Africa but have their main business in the continent.
Mark Mobius, the executive chairman of Franklin Templeton and lead manager of the new fund said: "We believe that Africa's markets present significant opportunities for development due to a combination of strong economic growth, rising demand for the region's vast natural resources, and a growing consumer market."
But, other fund management groups – most notoriously New Star Asset Management have tried and failed with Africa funds before. A lack of decent companies to buy, currency exchange problems and poor national governance are often cited as key reasons why the funds have never taken off. But this time could be different, suggests Mr Mobius, because of the amounts of money flowing into the continet from places such as China and subsequent infrastructure improvements.
Financial advisers say any investment in Africa should be viewed as relatively high-risk and only appropriate for those who can afford to lose their original investment.
- 1 Rihanna 'nude pictures' claims emerge on 4Chan as hacking scandal continues
- 2 iOS 8 apps and features: eight iPhone settings you need to look at after you install the update
- 3 Kim Kardashian 'nude photos' leaked on 4chan weeks after Jennifer Lawrence scandal
- 4 'F*ck it, I quit': KTVA reporter Charlo Greene quits live on air in spectacular fashion
- 5 Scotland could still declare independence – even without referendum, says Alex Salmond
Rihanna 'nude pictures' claims emerge on 4Chan as hacking scandal continues
Kim Kardashian 'nude photos' leaked on 4chan weeks after Jennifer Lawrence scandal
Khorasan: Muhsin al-Fadhli - the man leading a terror group more feared by US officials than Isis
'F*ck it, I quit': KTVA reporter Charlo Greene quits live on air in spectacular fashion
Alicia Keys leaks own nude photo 'to create a kinder and more peaceful world'
Scotland could still declare independence – even without referendum, says Alex Salmond
Scottish referendum results: Cross-party consensus collapses amid Tory-Labour spat on the 'English question'
Hilary Mantel 'should be investigated by police' over Margaret Thatcher assassination story, says Lord Bell
Scottish independence: David Cameron is becoming the 'George Bush of Britain'
Plebgate MP Andrew Mitchell called officer a 'little s**t', claim court documents 'exposing ex-Chief Whip's 'record of abusing police'
Archbishop of Canterbury admits doubts about existence of God
iJobs Money & Business
£65000 Per Annum Benefits + bonus: Clearwater People Solutions Ltd: If you are...
£20000 - £25000 per annum + OTE £40,000: SThree: SThree are a global FTSE 250 ...
£20000 - £25000 per annum + OTE £40000: SThree: As a Recruitment Consultant, y...
£20000 - £25000 per annum + OTE £40,000: SThree: SThree Group have been well e...