New York (HedgeCo.net) – Specialist asset management boutique Silk Invest has announced the launch of a new UCITS III frontier fund, The Silk Road Equities fund, which will invest in Africa, the Middle East and the Caucasus and Caspian region. The fund is to be launched later this year, according to hedge fund industry magazine, FundStrategy.
These regions have traditionally been shunned by emerging market funds as being too illiquid. “We have handled such illiquidity in the past with the award winning Silk Road Fixed Income fund, which covers the same geographies.” Silk Invest said.
“Pakistan is the 27th largest economy in the world and still classified as a frontier market.” Daniel Broby, chief investment officer, said of the launch. “Investment in the Caucasus and Caspian region have tended to focus on the oil and gas resources of the region. We, however, are focused on the opportunity afforded by the strong growth of the consumer.”
The fund will have both institutional and retail share classes and will charge a 20% performance fee above a hurdle rate of 8%.
Silk Invest is headquartered in London with staff in the UAE, South Africa, Morocco, Egypt and Cameroon. The Silk Invest team consists of specialists from South Africa, Nigeria, Egypt, Pakistan, UK, Belgium, Netherlands, Ivory Coast, Cameroon, and Morocco.
Alex Akesson
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