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New York (HedgeCo.net) – In a move that shows that product innovation is still alive and well, Silk Invest, an asset management firm regulated by the FSA, has just announced the launch of its new UCITS Luxembourg domiciled fund.
Focused on frontier markets, the new fund will be named The Silk Road Income Fund. Silk Invest also has previously launched equities hedge funds African Lions and Arab Falcons.
“The Silk Road markets are under-represented in investor’s portfolios. The timing of our launch is perfect for investors as it enables them to take advantage of the re-pricing of risk in these markets.”Daniel Broby, Chief Investment Officer of Silk Invest, said, “Recent history shows that the collective Silk Route countries have consistently grown GDP faster than developed economies.”
As part of the fund development, Silk Invest conducted a survey of fixed income securities across the target regions, covering over 4,100 bonds and $480bn in total debt volumes. From this list the firm was able to filter out the most lucrative and liquid target asset universe, using a combination of credit and market-oriented stress tests.
“We aim to manage 60-80 holdings across 25 countries in the fund and are currently showing portfolio yields of over 16.5% with duration of 3.4 years.” John Bates, Head of Fixed Income at Silk Invest, said.
Baldwin Berges, Director of Business Development at Silk Invest, noted “Despite tough market conditions, we are seeing strong investor appetite for fixed income in these frontier regions as investors seek reliable returns from a diversified pool of assets. With Daniel Broby’s longstanding investment management track record, John Bates’ experience as a credit analyst and Patrick Landi’s experience in origination, we have put together a formidable team of people, all with hands-on experience in frontier markets.”
Editing by Alex Akesson
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West Palm Beach (HedgeCo.net) – Ansher Fund Management is planning an on-site tour of emerging investment opportunities in Uzbekistan and Kazakhstan, two representative markets across the Central Asian region.
Beginning in Tashkent, the capital of Uzbekistan and then to Almaty, the financial center of Kazakhstan, Ansher’s investment team will deliver detailed presentations on the region’s investment opportunities. The tour begins in Zurich on March 31st.
"During the visit, you will have a unique opportunity to gain a direct insight into political and business environment, as well as into potential lucrative investment opportunities of the Region." Ravshan Yunusov, Managing Director said, "You will have a chance to meet with the representatives to understand the legal and regulatory framework for the protection of foreign investments in these countries."
Ansher says they will assist with booking/flight/tickets/visas, upon arrival at the airports. Contact www.ansherholding.com for more details.
"We strongly believe that as a result of this trip, you will be pleasantly surprised with the investment potential of the Region, and explore the new frontier markets that offer opportunities for both diversification and growth of your portfolio." Yunusov said, "Central Asia and the Caucasus is still expected to remain as the fastest growing Region of the world according to IMF. Accordingly, our funds have performed strongly in 2008 (+14.2%), and we still anticipate significant growth opportunities in the Region for 2009."
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West Palm Beach (HedgeCo.net) - Specialist asset management firm, Silk Invest Ltd, has acquired Danfonds Frontier Fund SPC., a Cayman based hedge fund, in an all equity deal, Silk Invest also bought majority share in Danfonds Frontier Fund SPC, which will be renamed Silk Invest Frontier Fund SPC, Danfonds Investment Management (Cayman) Limited will be renamed Silk Invest (Cayman) Limited.
The new team will launch two Luxembourg UCITS funds, African Lions and Arab Falcons, in the first quarter of 2009. The Silk Invest Frontier Fund SPC will be relaunched in the second quarter of 2009 after finalizing the new offering memorandum and the various counterparty agreements.
Zin Bekkali, CEO of Silk Invest, comments that “the deal is a uniquely structured combination of talents that complements our new African and Middle Eastern fund platform.” Following the transaction, Daniel Broby, CEO of Danfonds, will become the Chief Investment Officer of Silk Invest.
Daniel Broby says that the deal “is perfectly timed from an investor perspective. There is now immense opportunity in frontier markets as a resultof the dramatic declines caused by the credit crisis; to which these economies are partially immune.”
Dr Heinz Hockmann, the Chairman of Silk Invest, notes that “The synergies between the Silk African Lions Fund, the Silk Arab Falcons Fund and the Danfonds Frontier Fund were immediately obvious. Our aim was always to become the most credible frontier markets specialist. With this deal we can demonstrate to our investors, more than ever, that we have an unrivalled frontier markets team, managing a unique investment offering across different asset classes.”
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