CityWire reports on the challenges faced by funds in deploying capital:
A surge of investors moving into Africa has hit liquidity in the market so hard that Investec Asset Management is considering soft closing some of its funds investing in the continent...David Aird, managing director of Investec, said: ‘The liquidity in these areas (ex-South Africa) is a little bit of a challenge for us given the level of interest from retail investors. It is improving as new companies come to the market and more stock exchanges open up, but at the moment it’s a bit tight.
‘If the total funds’ size comes to the point where we cannot manage them efficiently, we will close the products – we have no hesitation in doing that. It’s a bit of a moving target, and everything depends on how much these markets can take, but we’re hoping that in six to 12 months the liquidity may have improved.’
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