The Alquity Africa Fund, which is a Luxemburg-domiciled Sicav, will invest in companies predominantly operating on the African continent using a sustainable and responsible investment process. It will also donate a minimum of 25% of its net fee revenue to microfinance projects in Africa, with a target of creating 100,000 jobs by the end of 2012 and 100,000 jobs annually thereafter.
It will be available to high net worth and professional investors in Europe and Asia through financial advisers as well as to institutional investors and will be available through some life insurance bond platforms.
Alquity CIO David McIlroy, said: “Many of the best investment opportunities exist where perceptions differ from reality. This is particularly true of Africa where media headlines are often dominated by stories of dictatorships, disease, famine and economic stagnation.
“While these issues are very real in parts of the continent, the reality in Africa is of advancing democracy, improving development and strong economic growth.”
The fund will be Ucits III-compliant and will have an open-ended structure. There is a minimum investment of $10,000, or euro equivalent, for individual investors and a $1,000,000 minimum investment for institutional share class investors.
