Investing in Africa
Fund profile
|
Fund
|
Intereffekt Emerging Africa (a subsidiary fund of Intereffekt Investment Funds N.V.)
|
|
Type of Fund
|
Equity fund
|
|
Issue Price
|
EUR 20.00 per share (31 March 2008)
|
|
Stock exchange listing
|
Euronext Amsterdam since Monday, 31 March 2008
|
|
Buying and selling
|
Every trading day trough any bank or broker
|
|
Structure
|
Open-ended (that is to say, new shares are issued on demand and existing shares are bought when offered)
|
|
Aim
|
Capital growth (no substantial dividends on African shares)
|
|
Investment Policy
|
The fund will invest in listed shares in the northern and Sub-Sahara regions of Africa. Investments will be channelled into Egypt, Morocco and Nigeria as well as Botswana, Ghana, Kenya, Mauritius, Tunisia and Zambia. In principle, South Africa will not be represented in the portfolio.
|
|
Risk Profile
|
High due to investments being channelled into emerging markets in Africa.
|
|
Correlation
|
The relationship between global financial markets and African markets is low, because the latter are less sensitive to international developments.
|
|
Benchmark
|
The manager will not use a benchmark as a gauge for the purposes of determining investment policy or comparing the results achieved by the fund.
|
|
Tax-related aspects
|
No company tax is levied on profit achieved by Intereffekt Investment Funds N.V.
|
|
Managing Company
|
TRUSTUS Capital Management B.V.
|
| Fund Managementteam |
Frontier Markets Team: Wytze Riemersma (fund strategist) |
|
Management Fee
|
2% per annum
|
|
Performance Fee
|
10% per annum subject to a profit threshold of 10% (this means that, if the return achieved in a financial year exceeds 10%, a performance fee of 10% will be charged).
|
|
Expense Ratio
|
3.12% (2012 forecast)
|
|
Maximum positive deviation upon NAV
|
1%
|
| Maximum negative deviation upon NAV | 1% |
|
ISIN Code
|
NL0006173007
|
|
Trading Symbool
|
INEMA NA
|