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0845
641 0674
Garnett
Bridge
Kendal
LA8 9AZ |
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Africa Invest Update and Follow-on Fund
12-12-2008
Following the close of the initial investments into Africa Invest in May of this year, the Fund has returned 2.55% so far whilst share values across the world have fallen significantly.
With the investments made, Africa Invest has expanded to include two new farms, one in Mangochi and a second in Katonthowolo and extensive irrigation systems are being implemented across the eight farms. The company's paprika continues to be globally recognised as one of the highest grades and subsequently demand has exceeded supply. However, Africa Invest is still in the process of a major capital investment programme and the benefits of this are yet to filter through to returns.
By way of an update, Africa Invest has put together a 20-minute film explaining the progress made and the intentions for 2009.
Never someone to rest on his laurels, Jon Maguire is now planning to extend the principles behind Africa Invest throughout Africa. The proposed new Africa Transformational Agri Fund (ATAF is planned for launch in the second quarter of next year (subject to regulatory approval).
The ATAF will be an OEIC, UK based and fully FSA authorised for retail investors with an offshore version to be made available for institutional investors. It will aim to achieve long term returns of 15 - 25% with low volatility and virtually zero correlation to bond or traditional equity markets. The investment will be daily dealt for retail investors.
Africa Invest believe that transformational investing is about mobilising investment capital to deal with the eradication of poverty. By establishing business in extremely poor areas, you can help address its forces and impact on society, moving beyond established thinking of typical ethical and socially responsible investments. Without business enterprise, they argue that no monetary injection can sustainably exist.
The investments will initially concentrate heavily on agricultural production and soft commodities with the aim of capturing a greater part of the value chain from crop to market. With rising import and production costs and a growing global population, food is emerging as one of the most important investment opportunities in the financial sector.
Poverty alleviation and an absolute return for investors are at the very heart of the investment. The fund managers have committed themselves to achieving the United Nations' Millennium Development Goals in each community in which they are present. The success of these will be reported alongside the returns for investors, to show the difference they have made in human terms.
*Source: Arch Financial Products LLP, mid to mid, 31/05/2008 to 30/09/2008
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